Automic and Finance Automation
Business has changed. You are being pushed to provide even more information to support strategic decision making: accurate, timely reports on financial performance, operating costs, and period-end management reporting. To do that you need to transform your finance function, shifting resources from manual processing and control to being a better business partner. All at lower cost too.
Challenges abound—starting with your financial close process. Many firms struggle with the vital, non-negotiable financial closing cycle, whether in an Oracle Financials, Oracle Hyperion Financial Management or SAP environment. Complex, manual, and repetitive accounting processes inhibit the level of agility required in today’s finance departments. Closing cycles demand time-consuming manual tasks, for example, such as journal entries, accruals, and intercompany reconciliations. They also often involve processes from other systems, all of which need to be executed on time and in the correct sequence.
This slow, manual approach frequently results in dirty data contaminating the financials, subsidiaries closing often late or incomplete, and departmental managers frequently pointing out errors in reports.
Complete visibility and control over financial processes
Finance Automation using Automic automates and manages the financial processes you are currently conducting manually. The solution enables you to create, execute and monitor finance business processing quickly and easily, across on-premise as well as private/public clouds. Errors and delays are eliminated from end-to-end processes. Your interconnected finance data flows to the front-line more quickly. You gain control and free up time and resources to devote to more financial analysis.
Finance Automation with Automic supports all facets of finance. From intelligent interface management, period close of sub-ledgers through general ledger, distinct financial process improvements in payment batches, Dunning, and automated reconciliations between ledgers and financial consolidation, reporting and financial planning. Automic does it all.
That results in more time for analysis, faster feedback to the Board and less risk of a poor audit statement. Moreover, accelerated financial close enhances your interim financial reporting and shifts your business from historical performance reporting to timely analysis that anticipates future trends.
Discover how Automic helps accounts become agile and deliver what the business needs.
- Cut days from the period close cycle
- Allow accountants to shift their time from driving processes to investigating discrepancies and analyzing results
- Lower risk by standardizing processing for every entity during every period
- Increase visibility and control, by integrating and automating the process across all the applications used by the business
- Eliminate errors by doing things ‘right first time’ and extending checks for business outcome to every stage of the business process