FINANCIAL AUTOMATION SOFTWARE
Go Paperless with
no-touch document processing
Automate manual financial services processes to boost productivity, reduce cost and enhance omnichannel customer experiences.
A Typical Nanonets Customer Performance
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ACM Services saves 90% time for its Accounts Payable Team with Nanonets Invoice Extraction
The vendors we use more frequently will often send batches with anywhere from 1-300 invoices. I receive about 3 of these a week. A batch of this size could take me an entire day to process one by one. Now I will simply click and drag a batch into nano, verify the information, and import into our current system.
Expatrio achieves 95% reduction in time for Manual Data Entry with Nanonets OCR
I would recommend Nanonets to companies who need an accurate and well functioning Passport OCR solution with great support, reasonable pricing, and flexible plans.
What can you do with Nanonets Finance Automation Solution?
Be Audit Ready Always
Nanonets maintains a secure log of all activities for audit requirements. Make a digital archive of your financial documents to create a searchable database. Pull up documents whenever required during audit.
Simplify Risk Assessment
Use Nanonets workflows for risk assessment with custom rules and a human-in-the loop model. Perform all assessments on autopilot while flagging documents for exceptions and rule fails.
Automate your Workflow
Standardize all your approval processes with advanced workflow automation. Create rules to automate checks and route flagged documents to the right person in the right department for approval.
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Focus on your business, we take care of the data processing
Streamline document processing of all your financial documents with ease
Smarter, Faster & Efficient way to extract data from documents
Automate every aspect of financial document processing in minutes.
Move from traditional to smart financial services automation
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Technology
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Talent
Customer Data
Processes
Frequently Asked Questions
What is finance automation?
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Finance automation is the use of advanced technologies like AI, Robotic process automation, machine learning, or intelligent automation to optimize finance processes, enhance productivity, reduce costs and drive higher profit margins.
Can finance be automated?
Yes, you can automate financial processes by using intelligent rule-based automated workflows by using accounting and financial automation software like Nanonets. Nanonets enable its users to automate any kind of financial process like invoice upload, extracting invoice data, validating document credentials, processing payments, and generating expense reports.
How is RPA used in finance?
RPA in finance helps gain the most precious commodity of all — time.
Finance departments are stretched thin for both time and resources, and everyone from the C-suite to sales requires structured financial data and astute analysis to help make timely business decisions.
Besides, a highly saturated BFS sector is striving to stay relevant and competitive in an evolving finance process automation market. Using advanced financial automation software to automate manual tasks and mitigate errors allows companies to increase operational efficiency, reduce costs, improve accuracy, and meet compliance mandates.
How do you automate a finance department?
You can automate your financial processes with automated workflows in Nanonets with rule-based validation to automate data entry, KYC, ID verification, document verification, PO matching, accounts payable, approval processes, and more. You can use pre-trained OCR models and financial workflows in Nanonets to automate paper-based processes in your organization. Try Nanonets financial automation platform
What is financial process automation?
Financial process automation is the use of intelligent automation to digitize and automate key financial processes like accounts payable, bookkeeping, accounts receivable, expense management, approvals, and more. As a finance leader, you can use sophisticated financial automation platform like Nanonets that allows you to automate manual parts of finance in <30 minutes. Start your free trial or request a callback.
How do you automate your business' finance operations?
As a finance leader, you can automate your finance operations by using a finance automation platform like Nanonets. With an advance intelligent document processing platform, you can automate the following processes in your finance department:
- Customer Credentials Verification - ID card verification, KYC automation, Passport verification
- Automated invoice processing, invoice matching, Purchase order matching, and more
- Automated Data Storage - Store Data in a database of your choice
- Digitize financial documents - Convert your financial documents into excel, JSON, or any format of your choice with OCR API
- Automated Workflows - Use rule-based drag and drop workflows to optimize your financial processes and reduce manual data entry
- Automated Account Payable - Use financial process automation software like Nanonets for AP automation and automate invoice processing, expense management, approvals, and more.
What are the key finance processes?
Finance is at the heart of businesses. Finance processes give a deeper insight into the health of the company. Here are some of the key finance processes that can be optimized and automated using financial automation software like Nanonets:
- Accounts Payable
- Accounts Receivable
- Bookkeeping
- Employee reimbursements like Travel & Expenses
- Invoice Management
- Payment
- Taxation
- Balance Statements
- Financial Reporting
What is the cost of using financial automation software?
If you use Nanonets as your financial automation tool, it can cost you around $499 per month (starting range). Nanonets also has a free trial version, so you can check out the features before deciding to go ahead with the solution. Check out Nanonets procing.
Can Nanonets be used as a financial process automation platform?
Yes, you can use Nanonets for financial process automation as it has all features of a stand-alone financial automation platform. Take a look at our free trial or request a callback.
What are the different use cases for financial automation software?
Here are examples and applications of financial automation software.
- Procure to Pay:
Reduce days payable outstanding (DPO) by accelerating invoice processing, transforming the supplier experience with faster onboarding and streamlined communication. - Order to cash:
Eliminate the billing errors that frustrate customers, delay payments, and reduce days of sales outstanding (DSO) by automating sales order entry, billing, and cash application. - Record to report:
Optimize cash flow, lower credit risk, and streamline intercompany payments and reconciliations. - Client onboarding:
Financial automation software gathers critical customer information using technologies like optical character recognition to make the client onboarding and KYC process reliable and streamlined. - Intercompany reconciliation:
Downloading statements, creating a workflow for customer accounts, validating transactions, and reporting discrepancies — RPA in finance can take all the stress out of bank reconciliations for the accounts department. - Financial planning and forecasting:
Robotic process automation in finance can be set up to analyze historical data, collate financial statements, and generate forecasts, freeing the skilled workforce to create and execute strategies. - Tax reporting automation:
Financial process automation software replaces manual tasks like collecting data, generating reports, calculating the tax payable, and reconciling tax data. - Accounts receivables and payable automation:
Financial Automation Tool can keep accounts receivables in check to maintain a good financial standing and negligible cash gaps by taking over all the manual tasks. All invoices can also be matched with the purchase orders, thus saving time and effort in accounts payable. - Treasury:
Empower treasury analysts to identify investment opportunities with incredible speed and confidence and decrease uninvested cash by improving cash-forecast reliability.