Process mining eliminates friction in the finance department through real-time process insights and continuous improvement. Save money through extra working capital with automation and AI powered actions that decrease throughput time and remove bottlenecks. Monitor the process for reliable reporting and process compliance, and eradicate parallel reporting by improving user adoption of your ERP.
To begin with, data integrity in the ERP is vital for reliable reporting. However, ERP implementations turn out to be extremely complex, half of the projects fall short of expectations. Thus designed processes do not resemble reality while existing processes are forced to fit the system. Consequently, employees take short-cuts, skip fields, fill in fake information and use excel parallel to the system.
“Do you also use Excel to make reports? You are definitely not the only one!“
Accounts payable and receivable are responsible to optimise working capital. Generally, customers paying the cash-discount price regardless of passed due dates, long invoice generating times, and rework caused by typos and wrong reference numbers, delay the process of receiving money. In the meantime, accounts payable struggles with delays due to error prone manual work, putting on-time payments and 2-4% cash discounts at risk. Additionally, every organisation pays invoices double. Vendors send copies, which are not matched with the original invoice due to typos.
Firstly, lead the way to compliant processes and reliable reporting with process mining. Moreover monitor how processes flow through your organisation and get clear directions for improvements. Hereby, you tackle the desire for shortcuts and parallel reporting through improved user adoption.
Further, analyse your processes and identify opportunities for improvement with process mining. With clear priorities for enhancement, reduce your throughput times through intelligent actions, collect money fast, pay just in time and collect cash discounts.
Process mining identifies opportunities for automation in your process, leading the way towards touchless invoices. We reduce manual effort and errors in the process, enabling your team to focus on non-repetitive and important tasks.
Use the AI-powered platform of Celonis through the discovery of double paid invoices in your organisation. Receive the cash and prevent these payments in the future by identifying false invoices the moment they enter your system.
