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Increased Accuracy
Manual processes are prone to mistakes and inconsistencies. By automating processes you can ensure the data you’re using to make important decisions is always accurate and complete.
Finance Automation
One of the primary challenges in automating Finance functions is integrating new technologies with existing legacy systems. These older systems often have limited flexibility, making it difficult to seamlessly incorporate advanced automation tools. Our approach to sourcing data and documenting its transformation allows us to identify and access various data sources relevant to your requirements before we integrate data from disparate sources, ensuring that it is consolidated accurately for a unified view.
Data Quality and Consistency
Automation relies heavily on the quality and consistency of data. In finance, where data comes from various sources and formats, ensuring its accuracy and uniformity can be a significant challenge, impacting the effectiveness of automated processes. To address this, we employ our accountants who are qualified in data tools to ensure they can communicate clearly with finance teams to map their processes.
Change Management
Implementing automation in finance often requires significant changes in workflows and processes. At the Information Lab, we're experts in managing this change, including training staff and facilitating their adjustment to the new operating model.
Key Benefits
Increased Efficiency
Validating your data manually is extremely time-consuming. Automation of checks, balances and reconciliations reduces this wasted time so your team can use their skills to create real value.
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AI Preparedness
By automating financial processes you can ensure financial data is accurate and well organised - this is essential for any company wanting to utilise AI technology, since AI relies so heavily on data.
Risk Mitigation
Manual Processes that rely on human knowledge create a huge organisational risk. A key step in automation projects is documenting the process, so you’ll always have access to the information you need.
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Data Security
Data automation projects generally have a data security focus too. This ensures the privacy and security of sensitive financial data.
AI Preparedness
By automating financial processes you can ensure financial data is accurate and well organised - this is essential for any company wanting to utilise AI technology, since AI relies so heavily on data.
Could you create more value with your data?
Talk to our team to find out how.
