Financial operations get more complicated and demanding all the time. It’s not uncommon now for financial ops teams to be juggling 15+ systems. Compliance requirements are becoming more complex as well – and while weighing increased complexity, companies are simultaneously striving to realize the full potential of automation and analytics to improve their businesses.
In a new webinar moderated by Jason Pikoos, lead partner of financial operations at Connor Group, industry experts Joe Blanchett of financial systems at SeatGeek, and Mike Flynn, principal software engineer at Rapid7, discuss the evolution of financial automation. In this webinar, you’ll hear them cover the steps you can take with automation to move closer toward closing your books or completing the month-end close in 5 days.
Check out the full webinar with SeatGeek, Rapid7, and Connor Group.
In this webinar, you learn how market leaders are automating data flow across key financial systems, for processes and initiatives like:
- Posting financial transactions
- Reducing the use of spreadsheets
- Simplifying the customer order & payment experience
- Reducing complexity in the purchase, renewal, and upgrade process
- Using data to make more informed decisions
- Providing data to the right people at the right time
Some key end-to-end financial processes to automate with an enterprise automation platform include:
- Lead/quote-to-cash & revenue recognition
- Procure-to-pay
- Employee record and life cycle management
- Banking and treasury
- Dealing with home-grown technologies & ERP
Understanding the Automation Journey
Getting to the point where you can close your books in 5 days is a process – there are several automation steps along the way. According to these market leaders, here are some tips on how to initiate your automation strategy before diving in headfirst:
- Develop and understand your current state.
- Decide what the ideal state should be for your organization. Then, you can develop a roadmap on how to incrementally deliver different chunks of valuable automations. If you rush into automating something, and it’s a bad process, you’ve already gone down the wrong path and are creating more work for yourself.
Once you’ve decided on your ideal state, you can start taking steps toward realizing it. Automation lets you shift your focus toward identifying high-value changes that you can make in financial operations, so that your team can shift their focus to actions that drive value.
