Autonomous Finance

What is Autonomous Finance?

AIOPS.D™ Autonomous Finance leverages artificial intelligence (AI) and machine learning (ML) to reduce time spent on manually intensive month-end activities—enabling an accelerated, more touchless financial close.

The solution helps improve data monitoring and correction, automates data updates between systems, identifies and creates new master data, and automates the validation of business rules.Harnessing AI/ML capabilities, the solution autonomously identifies, proposes, and executes corrections, dramatically boosting data accuracy and operational efficiency.

Up to 75%

Reduction in reconciliation errors. Boosts data accuracy, guaranteeing dependable financial reporting

50%

Decrease in manual interventions and journal entries, empowering employees to focus on strategic business decisions

2-4 days

Reduction in financial close cycle times by leveraging AI solutions for faster access to critical financial insights

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AI-Fueled Microsolutions take Lights Out Finance™ from Theory to Practice

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The Autonomous Enterprise

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AIOPS.D™ Autonomous Finance Microsolutions in Action

AIOPS.D™ Autonomous Accountant

AIOPS.D™ Autonomous Accountant leverages machine learning (ML) models to continuously monitor and autonomously correct data quality issues, significantly reducing the time spent on labor-intensive month-end financial activities.

The solution autonomously compares and cross-references data from multiple sources, ensuring high data quality. It seamlessly obtains and reconciles data across systems without requiring human intervention.

Key features:

ML-driven engagement for financial data analysis and reconciliation
Autonomous detection of data anomalies
Self-learning mechanism to incorporate user feedback and behavior
Real-time monitoring and feedback for timely and accurate posting of journal entries

Value delivered:

Increased data accuracy with significant reduction in reconciliation errors ~ upto 75%
Reduction in manual effort leading to faster financial cycle close times by 2-4 days
Saves time, ensures complete and reliable financial reporting

AIOPS.D™ Autonomous Cash Application

AIOPS.D™ Autonomous Cash Application leverages conversational AI and ML capabilities to automate and accelerate the manual collections process. The solution leverages payment and invoice data existing in the current enterprise resource planning (ERP) systems to generate smart matches of open invoices with open payments and automatically validates all the payments that are received.

It also automates disputes management and inter-team data collection. This ensures that open invoices are closed out on time and maintains the critical service level agreements (SLA) to meet business requirements.

Key features:

Automates collection process with auto-calling features
Provides guided self-service channel for the customer
Enables bulk application of matches through EML matching algorithm

Value delivered:

95% auto cash IT rate due to straight through cash posting
Reduction in cash specialist FTA hours by 50%
Reduced manual effort and time in capturing and validating the payments received

One platform. One approach.

With AIOPS.D™, everything needed to move from automated to autonomous is in one place. All microsolutions are hosted on a unified platform, allowing organizations to select the optimal mix of as-a-service solutions to achieve process autonomy without logging into multiple systems to access them.

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AIOPS.D™ Finance Potential Benefits?

With AIOPS.D™, organizations have an AI-based framework that takes proactive steps across the financial close process—boosting reporting accuracy and reducing manual intervention for an accelerated, more touchless close.

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