{"id":34757,"date":"2021-08-09T10:44:28","date_gmt":"2021-08-09T10:44:28","guid":{"rendered":"https:\/\/be.altares.dev\/?p=34757"},"modified":"2023-09-01T12:21:41","modified_gmt":"2023-09-01T10:21:41","slug":"start-with-the-automation-of-your-finance-processes","status":"publish","type":"post","link":"https:\/\/www.altares.be\/en\/blog\/credit-risk-management\/finance-processen-automatiseren-begint-bij-een-betrouwbare-basis\/","title":{"rendered":"Start with the automation of your finance processes"},"content":{"rendered":"

Automation is not a threat to the finance department. In fact, the automation of finance processes will make the department more efficient. In addition, automation ensures that professionals can focus on the more complex aspects of the finance profession. In this blog, we guide you through the world of automation for finance departments.<\/p>\n\n\n\n

\"Twee<\/figure>\n\n\n\n

Fact: The future of finance is automation <\/h2>\n\n\n\n

We previously wrote about the changing role of the credit manager<\/a>. Overflowing filing cabinets make way for sophisticated CRM, order2cash and ERP systems. The finance world is moving forward. <\/p>\n\n\n\n

Yet there is still a lot to gain in terms of efficiency within finance and risk. Research by Gartner shows that as many as 73% of finance employees experience increasing pressure to work faster. This is partly a cause of declining budgets. At the same time, there is more demand within the organization for financial information about customers and suppliers in order to, for example prevent late payers and defaulters<\/a>. Modern organizations even expect finance teams to be able to deliver in-depth spend analysis and use their data to drive growth and innovation.<\/p>\n\n\n\n

CFOs and financial professionals therefore cannot escape it: they have to look for more efficient and smarter ways of working. Automation is the answer. By automating finance processes, you take some of the workload away from the team, while still being able to anticipate the increasing demands in the organization.<\/p>\n\n\n\n

The first step: Integrate up-to-date business information into your own system<\/h2>\n\n\n\n

The results of the study “The Automation Transformation – The Imperative to Drive Operational Efficiency in Finance and Credit”<\/a> from Dun & Brdstreet shows that for 67% of financial decision makers, data reliability is the most critical element for automation.<\/p>\n\n\n\n

So let's start from scratch: a reliable and up-to-date data source. With Data Blocks<\/a> you get the tool to build your own unique dataset. This gives you everything you need to optimize business processes. You can easily integrate this dataset into your existing CRM, ERP and other business systems. This allows everyone, anytime, anywhere access to real-time business information.<\/p>\n\n\n\n

Which finance processes can we automate?<\/h2>\n\n\n\n

The first step in automation ensures that business information, financial data and risk analysis are integrated directly into business applications. <\/p>\n\n\n\n

Next, the following processes can be automated:<\/p>\n\n\n\n