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10 typical problems in Accounting Departments
and the intelligent automation solutions
01Lengthy Month- and Year-End Close
Problem: Manually compiling, verifying, and reconciling financial data at the end of the month or fiscal year leads to extended closing cycles and delayed financial reporting.
How Automation Helps: Bots can standardize data collection, perform reconciliations, and flag discrepancies well before the close, ensuring that final reports are ready faster, with fewer errors and minimal human intervention.
02Slow Accounts Payable (AP) Invoice Processing
Problem: Manually entering and approving AP invoices reduces efficiency, increases the risk of data-entry errors, and hinders on-time payments.
How Automation Helps: With smart automation repetitive AP tasks—like reading invoices, validating invoice details against internal databases, and submitting them for approval—are automated, accelerating payment cycles and improving supplier satisfaction.
03Delayed Accounts Reconciliation
Problem: Manually matching transactions, identifying discrepancies, and correcting errors consume valuable time and hinder timely financial insights.
How Automation Helps: Automation bots can automatically compare ledgers with bank statements, highlight mismatches, and even suggest corrective journal entries. This speeds up the reconciliation process, reduces errors, and improves the accuracy of financial records.
04Integration Challenges Between ERP and Other Systems
Problem: Disconnected systems force employees to manually transfer financial data, leading to bottlenecks, lost information, and reporting inconsistencies.
How Automation Helps: Smart Automation can act as a “digital bridge” between your ERP and other applications, automating data extraction, transformation, and loading processes. This ensures seamless integration, streamlined workflows, and a unified view of financial information.
05Managing Employee Expense Reports
Problem: Manually reviewing and verifying expense reports is time-consuming, prone to human error, and delays reimbursements and month-end reconciliations.
How Automation Helps: Automation Bots can extract expense data from receipts, validate it against company policy, and submit accurate summaries for approval—streamlining the entire expense management cycle.
06Standardizing Financial Data from Multiple Sources
Problem: Gathering and normalizing financial data from various platforms—such as payroll, CRM, and inventory management systems—consumes resources and introduces inconsistencies.
How Automation Helps: Intelligent can continuously pull data from multiple sources, standardize formats, and ensure that your accounting system always has accurate, up-to-date information, eliminating manual data wrangling.
07Slow Customer Payment Application and Cash Allocation
Problem: Applying incoming payments to the correct customer accounts is often a tedious process, leading to misapplied funds, credit imbalances, and delays in revenue recognition.
How Automation Helps: Automated bots can read remittance information, match payments to invoices, and update records in real-time, accelerating cash application and improving cash flow visibility.
08Manual Journal Entry Creation and Validation
Problem: Crafting and validating journal entries by hand is error-prone, labor-intensive, and can impede timely financial close.
How Automation Helps: Automation tools can generate recurring journal entries, validate account codes, and ensure proper sign-offs, cutting down on mistakes and allowing staff to focus on more strategic accounting tasks.
09Audit overruns
Problem: Gathering documentation, verifying transaction accuracy, and ensuring adherence to regulations becomes a bottleneck during audits.
How Automation Helps: Smart Automation can compile required records, cross-check entries against compliance rules, and prepare audit-ready documentation—reducing the time and stress associated with audit processes.
10Manual Invoice Creation and Dispatch
Problem: Preparing invoices, verifying billing details, and sending them to customers manually is time-consuming and prone to errors, potentially leading to delayed billing cycles and discrepancies in revenue recognition.
How Automation Helps: Robots can automatically generate invoices using standardized templates, pull accurate data from your CRM or ERP, and send invoices electronically to customers. By streamlining invoice creation and dispatch, you reduce manual effort, speed up billing cycles, and enhance overall cash flow management.
What is intelligent automation?
RPA
Intelligent Automation is an advanced technology that uses software robots, or “bots,” not only to automate repetitive, rule-based tasks that are typically performed by humans, but also to learn and make data-driven decisions. These bots can interact with various digital systems and applications much like a human would, yet they work faster and with no errors.
Automation offers versatile applications across finance and accounting functions, including simple tasks like invoice processing, journal entries, invoice creation, to more advance tasks like financial reporting, budgeting, forecasting, and ensuring tax compliance. By seamlessly integrating with advanced technologies such as AI, OCR, and ERP systems, RPA enhances operational efficiency, accuracy, and overall outcomes, driving smarter and more streamlined workflows.
Read more
Intelligent Automation offers numerous benefits for businesses by automating repetitive, rule-based tasks. It enhances efficiency by reducing human error, speeding up processes, and ensuring consistent results. RPA can significantly lower operational costs by handling tasks that would otherwise require multiple employees, freeing up staff to focus on more strategic, value-added activities.
RPA integrates seamlessly with existing systems without requiring major changes, improving scalability and adaptability across various industries. This results in better productivity, increased accuracy, and a faster return on investment.
Why automation in accounting?
Simplified, Streamlined Workflows
The technology can capture data from invoices, purchase orders, and bank statements with ease, allowing SMBs to eliminate the tedious manual steps involved in accounting processes. As a result, everyday tasks become much more manageable – without the need for extensive technical expertise.
Enhanced Accuracy and Compliance
Human errors in bookkeeping and financial data management can lead to expensive corrections. Bots work with near-perfect accuracy, reducing the risk of miscalculations and mistakes. By ensuring compliance with financial regulations and standards, automation helps SMBs maintain trustworthy records and avoid audit complications.
Time and Cost Efficiency
For growing businesses with limited staff, every minute saved counts. Smart Automation processes accounting tasks faster than humans and works around the clock, removing bottlenecks caused by workload surges or vacation schedules. This efficiency lowers overhead costs, allowing teams to focus on becoming a better partner to the business.
Scalability as You Grow
As an SMB expands, so do its financial operations. Automation solutions adapt effortlessly to higher transaction volumes without the need to hire additional staff, train new employees, or invest in more complex systems. By scaling seamlessly, RPA positions smaller organizations to handle growth confidently and efficiently
Improved Decision-Making
With Automation taking care of routine accounting operations, team members can devote more time to analyzing data and extracting valuable insights. Equipped with timely, accurate financial information, SMBs can make informed decisions that foster sustainable growth and long-term success.
Return on Investment (ROI)
Even at just 20 hours per month, you’re allocating nearly 240 hours a year to a single repetitive task. Multiplying the hourly wage by 240 hours will reveal a significant annual labor cost. By introducing Automation, you reduce manual effort, reallocate staff time, and drive down these costs
Process Time Saved
We show exactly how much time your team gains back by automating repetitive accounting tasks during a free-of-charge process analysis
Check our example of ROI and learn better how it works
Simple ROI estimation
Costs
Accountants labor costs
(1-3 years of experience) per hour
$30
Senior accountants labor costs
(1-3 years of experience) per hour
$50
20h of manual work monthly
(50% blended) 240h per year
$9 600
Average overhead costs (25%)
$2 400
Total
$12 000
Savings
Targeted savings through automation – 70%
$8 400
Monthly savings
$700
Simple automation – one time investment (simple well standardized process)
$4 900
Maintenance (5%) – paid monthly – optional
$250
ROI
7 months
How AI can improve automation ?
AI
Integrating Artificial Intelligence (AI) into accounting processes elevates efficiency and accuracy by automating complex tasks, providing real-time insights, and enhancing decision-making capabilities. AI-driven solutions can manage large datasets, detect anomalies, and predict financial trends, enabling accountants to focus on strategic activities that drive business growth.
By combining AI with Robotic Process Automation (RPA), businesses can achieve a comprehensive automation strategy that not only handles repetitive tasks but also adapts to complex, data-intensive processes, resulting in smarter and more streamlined workflows.
How can automation
improve typical accounting tasks?
01 Accounts Receivable (AR) Automation
It’s all about cash generation! Quick invoicing and proper AR management is key to financial success. Accounting teams spend a lot of time in different systems filing information and tracking payments.It’s crucial you issue the invoice once the service is performed or the good is delivered.
Tasks Automated:
- Generating and sending invoices to customers.
- Tracking and matching payments to outstanding invoices.
- Sending payment reminders and dunning letters.
Benefits: Improved cash flow, reduced overdue payments, and better collection efficiency.
02 Accounts Payable (AP) Automation
You receive tons of invoices each month! You need to make sure that the invoices match a purchase order before payments are made or it’s properly reviewed in case there is no purchase order like invoices for utilities, rent and lease payments, professional services, subscriptions etc.
Tasks Automated:
- Invoice data extraction and entry.
- Invoice validation against purchase orders.
- Approval routing and notifications.
- Processing payments.
Benefits: Faster invoice processing, reduced errors, improved vendor relationships.
03 Financial Reporting Automation
Your department could prepare month close within 1-2 day by streamlining the workflows. You help your accounting team by getting journal entries posted in a clever automated way or set up pre-configured reporting templates.
Tasks Automated:
- Consolidation of financial data from multiple systems.
- Generating reports (e.g., P&L, balance sheets).
- Ensuring compliance with reporting standards.
Benefits: Real-time reporting, reduced manual errors, and faster month-end closing.
04 Bank Reconciliation
Cash is king! Proper reconciliations are crucial to the finance organizations. Bank reconciliations sound like an easy tasks, however they are time consuming for many organizations. Robots are very successful in this area and can reduce processing time drastically and identify transactions leading to discrepancies.
Tasks Automated:
- Comparing bank statements with accounting records.
- Identifying discrepancies and flagging errors.
- Matching transactions automatically.
Benefits: Faster reconciliations, improved accuracy, and reduced manual effort.
05Payroll Processing Automation
Payroll processing and proper accounting of payroll is tricky! Every organization has its own specifics and variability in employee compensation (integration with time and attendance systems) makes it more difficult and if you cross boarders in your organization than even more due to the complexity of the compliance with regulations in different countries.
Tasks Automated:
- Gathering employee timesheets and attendance records.
- Calculating wages, taxes, and deductions.
- Generating payslips and processing payroll transactions.
Benefits: Ensures timely and accurate payroll with reduced administrative workload.
06Expense Management
Expense management is inherently complex due to the interplay of policies, systems, human behavior, and external factors. The proper receipt and documentation is a challenge!
Tasks Automated:
- Processing and validating employee expense claims.
- Matching receipts with expense policies.
- Approving and reimbursing expenses.
Benefits: Saves time, ensures policy compliance, and reduces manual checks.
07General Ledger Management
General ledger (GL) management involves the processes and systems used to maintain, monitor, and reconcile the general ledger, which is the central repository of all financial transactions for an organization. The general ledger forms the backbone of the accounting system, summarizing financial activity into accounts like assets, liabilities, equity, income, and expenses.
Tasks Automated:
- Posting journal entries (automated accruals, revaluations etc.).
- Balancing ledgers and ensuring data integrity.
- Closing books at the end of accounting periods.
Benefits: Reduces errors, accelerates month-end close, and improves accuracy.
08Data Entry and Management
Tasks Automated:
- Entering large volumes of transactional data into accounting systems.
- Migrating or synchronizing data between systems (e.g., ERP, CRM, accounting software).
Benefits: Eliminates repetitive work, increases accuracy, and reduces manual labor.
09Audit and Compliance Automation
Tasks Automated:
- Performing internal audits of accounting data.
- Verifying compliance with financial regulations.
- Compiling audit reports.
Benefits: Reduces audit preparation time and improves compliance accuracy.
What differentiates us from the competitors?
We are not just automation providers; we are trusted partners who combine deep accounting expertise, cutting-edge technology, and a future-focused mindset to deliver personalized, high-impact automation solutions
Deep Accounting Expertise
Unlike many providers that focus solely on technology, our team brings extensive accounting and finance knowledge gained from working with Big4 firms and Fortune 500 companies.
This ensures automation solutions are not just technically sound but also aligned with best practices in accounting, compliance, and financial management.
Partner-Level Communication
Clients can interact with us as trusted partners rather than just service providers.
We bring a consultative approach, helping clients identify opportunities beyond automation, such as process optimization, cost reduction, and compliance improvements
Holistic Approach to Automation
Our solutions are designed with both technology and business outcomes in mind, offering end-to-end process improvement rather than just task automation.
We understand the pain points of financial processes intimately, allowing us to design solutions that address root causes, not just symptoms.
How to get started with your first automation?
Start small and simple
Ready to unlock the benefits of intelligent automation but not sure where to start? Identify low-risk, repetitive task that everyone agrees is a hassle but easy to standardize—like copying invoice details into a spreadsheet or reconciling a simple ledger entry. This should be a process that’s straightforward and stable. The simpler it is, the easier it’ll be to trust the results.
Evaluate the benefits
Confirm that automating this task will free up valuable time, reduce errors, or speed things up. No need to rebuild or overhaul existing systems. Our solutions work on top of your current software, just as a human would. This ensures you won’t disrupt your proven processes – simply make them faster and more accurate.
Immediate, visible results
When you start small, you’ll see immediate benefits. Watch the automation do the heavy lifting freeing your team from tedious tasks, the near-perfect accuracy, and the improved team morale. These results speak louder than any brochure or presentation ever could.
Build on your success
Once you’ve scored that first win, you’ve got proof that automation works. Use this success to scale your automation efforts, taking on bigger tasks and more complex processes, gradually transforming how your firm operates.
Empower your team
Your employees remain essential – our bots simply handle the grunt work. By streamlining routine tasks, we let your staff focus on higher-value work, boosting morale and productivity. Take the first step with us and discover just how straightforward and powerful your first automation project can be.
Automation Pricing
Simple
Process steps
<10
Decision points
Minimal
Data sources
Single system
Error handling
Basic
System interaction
Standard UI
Dependencies
None
Price from
Request a Quote
Medium
Process steps
10-25
Decision points
Moderate
Data sources
Multiple
Error handling
Dynamic
System interaction
UI/API
Dependencies
Minor ext. syst.
Price from
Request a Quote
Complex
Process steps
>25
Decision points
Extensive
Data sources
Multiple + unstructured
Error handling
Robust
System interaction
OCR, AI/ML, API
Dependencies
Complex ext. systems
Price from
Request a Quote
What experts say
Future and predictions for our solutions
We Guarantee a Minimum of 50% time
or cost savings – or it’s free!
Benefits
Intelligent automation offers numerous benefits for businesses by automating repetitive, rule-based tasks. It enhances efficiency by reducing human error, speeding up processes, and ensuring consistent results. RPA can significantly lower operational costs by handling tasks that would otherwise require multiple employees, freeing up staff to focus on more strategic, value-added activities. Additionally, RPA integrates seamlessly with existing systems without requiring major changes, improving scalability and adaptability across various industries. This results in better productivity, increased accuracy, and a faster return on investment.
Efficiency
Bots work 24/7 without breaks, significantly speeding up processes and increasing overall productivity.
Scalability
Easy scalability for increasing workloads and high flexibility.
Quick ROI
Smart automation is non-invasive and can be integrated with existing systems without major changes, allowing for quick returns on investment.
High volume operations can be done cheaper by robots than humans.
Accuracy
Bots eliminate human errors and ensure tasks are completed accurately and consistently. They also maintain detailed logs of their activities.
Support
Relieving employees from simple, rule based tasks.
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