Streamlining Invoice Processing to Save Time and Money While Boosting Crucial Accuracy
Many of the processes that finance and accounting departments have to perform involve rules, but that doesn’t make them simple. Finance and accounting professionals need to ensure compliance with a complex set of rules and regulations. And as they facilitate this duty, they must accommodate the relevant requirements that can change quickly, significantly, and often. Finance and accounting departments also often work with a variety of computer applications that are both their own and their customers’ and vendors’. The consequences of this arrangement can mean that processes are very time-consuming and complex, and at times inaccuracies can result in loss of revenue and significant financial penalties.
In response to these obstacles to success, finance and accounting departments are increasingly turning to robotic process automation (RPA) to increase their reliability, cut costs, and increase efficiency. RPA can seem like an intimidating pursuit on the surface, but Kryon has worked hard to ensure that it’s as easy as it can be. Kryon has built patented visual-recognition technology to specifically help make the transition easier for finance and accounting departments. This technology features robots that can work seamlessly with any application or software environment you may have, including legacy programs and Citrix. These departments can also automate processes while at the same time helping their full-time employees optimize their own reliability and accuracy, thanks to Kryon’s attended and unattended robots.
How it Works
Kryon robots use a combination of patented visual-recognition technology and optical character recognition (OCR) to scan, digitize, and validate key data from invoices. Then, they automatically upload it to any invoicing platform. As a result, finance and accounting departments can allow their full-time employees to attend to more value-added tasks while software robots take care of the more monotonous but necessary processes.