Sign In
Get a Demo
In a world where every decision counts, No-Code offers finance leaders the ability to make informed choices faster than ever before.
Financial Process Automation (FPA) is the use of technology to streamline repetitive financial tasks. FPA enables finance professionals to optimize operations and drive strategic initiatives in modern finance. FPA reduces manual errors, saves costs, and ensures compliance with regulations.
The adoption of FPA is on the rise, with studies by the Association for Financial Professionals revealing that 70% of finance leaders believe that automation will be essential for their success in the future.
FPA simplifies workflows by automating routine tasks such as data entry, invoice processing, and payment approvals. It enhances collaboration across departments by providing real-time access to financial data and automating communication processes.
Advanced software solutions and artificial intelligence (AI) enable the automation of complex financial processes. For instance, machine learning algorithms can identify patterns in financial data, allowing for predictive analytics and better decision-making.
AP automation streamlines the entire invoice handling process, from receipt to payment. By automating invoice processing, payment approvals, and vendor management, companies can significantly reduce processing times and errors.
For example, Siemens achieved an 80% reduction in financial reporting errors through automation, improving accuracy and saving time and resources. This allowed the company to focus on strategic growth initiatives .
AR automation transforms the order-to-cash cycle, including order entry, billing, and payment collection. This improves cash flow, reduces Days Sales Outstanding (DSO), and enhances overall financial health.
Creative Colors International (CCI), a leader in leather and vinyl restoration, implemented AR automation to streamline operations, reduce manual labor, and improve accuracy. This not only increased customer satisfaction but also boosted their bottom line.
Automating invoice management streamlines data capture and reconciliation, cutting down on time and errors. This leads to quicker processing and higher accuracy, which are vital for maintaining strong cash flow and vendor relationships. Companies can manage invoices more effectively, reduce manual tasks, and ensure timely payments, which are crucial for financial stability.
IBM, for instance, automated their invoice management with IBM Watson, reducing processing time by 70% and cutting invoice errors by 90%, leading to millions in annual savings and stronger supplier relationships. The system also scaled easily with IBM's growing operations.
Lease accounting automation ensures compliance with standards like IFRS 16 or ASC 842, simplifying the process of managing lease data and reporting. A large eyewear retailer implemented lease accounting automation to comply with IFRS 16. By doing so, they were able to accurately track and report lease data, reducing the risk of non-compliance and financial misstatements. Software like Hubler’s lease accounting and management suite simplifies lease management by providing a single platform for lease administration, accounting, and landlord management, from IFRS 16 calculations to bill payments and settlements.
Franchise payment calculations can be complex and time-consuming, involving numerous contract dependent conditions and data from Point of Sale (PoS) and returns. Automating these payment calculations ensures accuracy and efficiency, allowing franchise operations to run smoothly and ensuring timely settlements.
The benefits of no-code Financial Process Automation are numerous.
Think of No-code Financial Process Automation as building with LEGO blocks. With no-code platforms such as Hubler, finance professionals can quickly assemble and customize their automation workflows, much like constructing a LEGO model, without needing technical expertise.
Financial Process Automation (FPA) has already changed how finance leaders run their operations, by streamlining workflows, reducing errors, and enhancing collaboration. No-code solutions allow finance leaders to make the next leap by enabling them to implement automation seamlessly and cost-effectively.
No code app builders like Hubler enable finance leaders to automate their most onerous processes. For example, Hubler’s user-friendly interface enables finance and accounting teams to automate finance processes such as invoice approvals and expense reporting.
Armed with no-code platforms, all you have to do is identify and act on opportunities for Financial Process Automation (FPA). The rule of the thumb is, if you do it on spreadsheets, you can automate it. The ceiling for no-code FPA is much, much higher though.
As automation becomes increasingly essential for success, we encourage finance leaders to embrace the transformative power of no-code solutions for FPA. Take a look at how Hubler's no-code solutions can streamline your finance workflows and drive strategic growth.
.jpg)
Please submit your details and our Product Consultant will connect with you to understand your needs.
