Criticalities and Solutions for Finance Offices

How to automate your financial activities in 4 simple steps

Accounting and financial activities are highly strategic and extremely delicate for all companies. Office managers are constantly burdened with many responsibilities and deadlines which, especially in Italy, tend to increase over time both in number and in complexity, due to the changing legislation and dynamism of today’s labor market.

This complexity is also amplified by the fact that very often the accounting and financial systems of companies rely on many manual processes and spreadsheets that slow down operations, if not actually ineffective on many occasions. In the best cases, traditional processes require a large amount of time and a large, highly specialized, and above all dedicated team of people to manually perform all the necessary operations and checks. The problems resulting from these criticalities are evident:

  • Waste of time
  • Errors
  • Increased risk of erroneous financial results.

In addition to the obvious waste and inefficiencies, these ineffective financial processes imply the inability to manage their cash flow well.

The solution

Automation is an increasingly suitable response to all business contexts. In the case of financial activities, it is particularly coherent and effective since it would fit into all those activities that involve data analysis, control of numbers, drafting of reports. Activities in which the controls are almost linked to mathematical rules, in which the machines do not make mistakes.

Automyo has built its own solution over time, suitable for all companies that need to streamline management processes and want to improve workflows. The solution is based on Claudio, an automation and process integration product that allows you to automate and monitor up to 15 times the number of jobs per day, and in a third of the time, while increasing the accuracy rate of the jobs.

Unlike manual processes, often with data coming from e-mails, paper documents, spreadsheets, or local systems, Claudio allows complete transparency and integration of processes, while automating flows in a simple and completely no-code way. An example of usually automated activities are:

  • Inserting data into or between systems
  • Loading data from spreadsheets
  • Consolidation of data in standardized reports or formats
  • Transmission of periodic automated reports
  • Management of timesheets and industrial reporting of work
  • Automation of predetermined workflows based on established events or scheduled events

Usecase: financial reporting in 4 steps

A hugely requested automation is the daily extraction of the granted loans, with the possibility of reporting all those that exceed a certain threshold and that do not undergo progress in their approval phase. This Automation allows supervisors to have a tool that allows them to route targeted checks, aimed at restoring the correct flow of financial disbursement.

Normally this activity is done manually and takes a lot of time. With Claudio, however, the steps are immediate.

STEP 01 – FLOW PLANNING

The first and fundamental step to define an automation is to identify the trigger. It is usually an element not linked to a human decision (precisely to free the time and operational limits of an office that is usually overworked).

Suppose we choose a daily schedule for sending the report. The trigger that best meets our needs will be a time planner. Once the trigger has been defined, you will be able to enter into the flow configurator, to define in detail the actions to be automated and the documents / software to work on.

STEP 02 – DATA PREPARATION

Flow configuration can also be seen as the phase in which data is collected and prepared. Reading and subsequent filtering can be done in various ways.

it is possible to read from a database using specific connectors. Claudio will automatically propose the fields defined on the reference database allowing the customization of the search.

STEP 03 – WRITING OF DATA

The data collected in the initial part of the automation flow can then be used to compile a spreadsheet, which will in turn be used for the production of a specific report.

If needed, the data can be further enhanced by adding a format, using formulas and functions. For example, it is possible to create cycles of reading lines, to impose conditions for the writing of the data, or to integrate the data itself with external sources.

STEP 04 – SENDING THE REPORT

The sending of the report can be structured for its insertion as an attachment to an email, addressed to the people involved in the process (manager, sales employee, etc).

The personalization of the message can concern all the fields of an email, including the recipients, which may differ depending on the type of report extracted. Having produced the data we need in the excel sheet, we can arrange for them to be sent as an attachment to an email, addressed to the people involved in the process (manager, sales employee, etc.).

Configured correctly and as we want the flow, the same can be enabled to go into operation.

How to get started

Compared to the automation software of the past, Claudio allows for quick and simple implementation within corporate ecosystems.

Taking advantage of the experience of the last two years with our customers, we have tried to standardize and improve the Claudio on-boarding process even more. Today we can promise you that using Claudio is not only easy but to make the most of it and autonomously it only takes 4 days.