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Financial Area

Looking to streamline the financial processes in your company? Automating selected business processes can significantly reduce repetitive, time-consuming manual tasks, allowing your entire team to work more efficiently.

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Which Finance Processes
Can You Improve?

Functionalities

  • Automatic Data Extraction from Invoices
  • External Dictionaries
  • VAT and VIES Compliance Check
  • Multi-Level Approval
  • Data Exchange with Accounting Systems
  • Exchange Rates
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  • No need for manual data entry. With artificial intelligence, invoices issued in compliance with regulations are automatically recognized, and the relevant data is entered into the system.

  • Seamlessly use up-to-date information from your ERP system, including suppliers, cost centers, project names, accounts, and payment methods. AMODIT synchronizes this data at specified intervals, e.g., once a day.

  • AMODIT integrates with the Ministry of Finance and the VIES databases to verify that your business partners are active VAT taxpayers.

  • Financial processes require complex approval paths. AMODIT accommodates multiple levels of approval—from initial descriptions and financial approvals to management and accounting sign-offs—ensuring that each scenario is accurately represented.

  • AMODIT facilitates bidirectional data exchange with any ERP system, enabling the synchronization of dictionaries, e.g. of business partners, accounting records, and cost centers, as well as data exportation. It also enables the retrieval of other data from the ERP system.

  • If exchange rates are necessary for calculations, AMODIT can retrieve the correct exchange rates from online tables provided by the NBP (National Bank of Poland).

  • Experience a more efficient, simplified, and accurate approach to   handling invoices.

  • Achieve higher levels of automation with minimal user involvement.

  • Cut the workload involved in invoice processing by up to 65%.

  • Execute tasks faster, boosting overall team efficiency.

  • Minimize repetitive manual work, allowing your team to focus on more valuable activities.

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Benefits

  • Streamlined Invoice Processing
  • Enhanced Automation
  • Reduced Workload
  • Improved Efficiency
  • Elimination of Repetitive Tasks

Functionalities

Benefits

  • Automatic Data Extraction from Invoices

    No need for manual data entry. With artificial intelligence, invoices issued in compliance with regulations are automatically recognized, and the relevant data is entered into the system.

  • External Dictionaries

    Seamlessly use up-to-date information from your ERP system, including suppliers, cost centers, project names, accounts, and payment methods. AMODIT synchronizes this data at specified intervals, e.g., once a day.

  • VAT and VIES Compliance Check

    AMODIT integrates with the Ministry of Finance and the VIES databases to verify that your business partners are active VAT taxpayers.

  • Multi-Level Approval

    Financial processes require complex approval paths. AMODIT accommodates multiple levels of approval—from initial descriptions and financial approvals to management and accounting sign-offs—ensuring that each scenario is accurately represented.

  • Data Exchange with Accounting Systems

    AMODIT facilitates bidirectional data exchange with any ERP system, enabling the synchronization of dictionaries, e.g. of business partners, accounting records, and cost centers, as well as data exportation. It also enables the retrieval of other data from the ERP system.

  • Exchange Rates

    If exchange rates are necessary for calculations, AMODIT can retrieve the correct exchange rates from online tables provided by the NBP (National Bank of Poland).

  • Streamlined Invoice Processing

    Experience a more efficient, simplified, and accurate approach to   handling invoices.

  • Enhanced Automation

    Achieve higher levels of automation with minimal user involvement.

  • Reduced Workload

    Cut the workload involved in invoice processing by up to 65%.

  • Improved Efficiency

    Execute tasks faster, boosting overall team efficiency.

  • Elimination of Repetitive Tasks

    Minimize repetitive manual work, allowing your team to focus on more valuable activities.

Financial area
  • Financial Area Success Story

    Challenge: Automation of Forwarding Cost Invoices to the Accounting Department

    Our client, a large publicly traded company in the FMCG sector, needed an automated system to streamline the forwarding of cost invoices to their accounting department. The goal was to enhance the efficiency of invoice processing and automate task management.

    The Solution Before System Implementation

    Before implementing AMODIT, the company manually handled invoices and other financial documents. This involved physically passing printed documents from desk to desk, often resulting in lost paperwork, misrouted documents, and lengthy approval times. Additionally, there was no way to track the status of a document within the approval process or identify who was responsible for its handling.

    Scope and Benefits of Implementation

    After implementing AMODIT, the company established a clear and efficient invoice approval path. Each supplier document is now sent to a designated email address. Paper invoices are scanned and forwarded via email as well.

    A significant improvement was the optimization of workflow. The system automatically generates a new case for each received email and processes the attachments using two OCR services— one embedded and one external, specifically designed for handling invoices.

    On average, 65% of cases are processed automatically, with invoices being forwarded to one of several predefined email addresses within the accounting department or returned to the sender. The remaining cases require minimal user intervention, typically due to incomplete data on the invoice or OCR reading errors.

    The client also valued AMODIT’s flexibility. Task automation is tailored to the specific business rules and needs of the company.

See How Other Companies Have Improved Their Financial Processes

Interested in learning how others are optimizing their processes? Looking for inspiration to enhance your efficiency? Explore our clients’ case studies!

Schedule a free consultation

with one of our specialists. We will guide you step-by-step on how to effectively optimize the financial operations in your company using AMODIT.

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