Robotic Process Automation for Finance & Accounting

The idea of finance and accounting conjures a mental picture of employees painstakingly working with mammoth ledgers and files. Even in the era of digitization, files tend to be awkwardly scanned copies of printed documents, making it difficult to derive meaningful intelligence from it. With RPA, documents can finally breathe a sigh of relief.

JiffyRPA Automates Critical Processes For Money Exchange Firm; Improves Turnaround Times 8X And Runs 24X7 With Minimal Manual Intervention.

Option3’s client is a leading money exchange firm in the GCC. They wanted to automate critical processes such as Bank Reconciliation and Wage Protection System/SIF file upload, which were dependent on manual effort and prone to errors.

With JiffyRPA’s secure automation capabilities, the client was able to achieve their goals, while also ensuring the privacy and security of the data involved.

JiffyRPA: Let the bot do the math!

It is a persistent challenge for employees across organizations across industries to perform F&A without errors, fighting through the boredom inherent to the repetitive nature of it. In a process where even a minor mistake can lead to substantial losses, manual work is more risk than you can afford. What F&A teams need is an automation tool that speeds up execution, without compromising on accuracy.

With JiffyRPA, you can automate the most complex tasks, effectively and accurately.

Processes JiffyRPA can automate

Transactional data management

Performing double entry accounting for each transaction, maintaining receipts for each transaction, tagging supporting documents appropriately etc.

Payables/receivables management

Monitoring ledger entries, verifying due dates for payables/receivables, notifications to stakeholders.

Risk management

Fraud detection, CIP/KYC compliance, analytics and dashboards.

Compliance improvement

Regular audits for all financial transactions, verification of supporting documents and reconciliation.

Sales and purchase orders

Accepting vendor/customer requests, verifying credentials, raising purchase or sales orders, notifying stakeholders.

Collections

Journal Voucher processing

Processing Journal Voucher entries, correcting account entries based on JV, categorizing shared expenses.

Vendor onboarding and setup

Creating vendor accounts, updating information, extracting information supporting documents, background checks and contract management.

Transactional data management

Performing double entry accounting for each transaction, maintaining receipts for each transaction, tagging supporting documents appropriately etc.

Payables/receivables management

Monitoring ledger entries, verifying due dates for payables/receivables, notifications to stakeholders.

Risk management

Fraud detection, CIP/KYC compliance, analytics and dashboards.

Compliance improvement

Regular audits for all financial transactions, verification of supporting documents and reconciliation.

Sales and purchase orders

Accepting vendor/customer requests, verifying credentials, raising purchase or sales orders, notifying stakeholders.

Collections

Journal Voucher processing

Processing Journal Voucher entries, correcting account entries based on JV, categorizing shared expenses.

Vendor onboarding and setup

Creating vendor accounts, updating information, extracting information supporting documents, background checks and contract management.