T-Impact work with ambitious organisations seeking to drive change and achieve rapid ROI through digital transformation, and one such example is the use of robotics within time and expense management. Speak with one of our experts to learn how companies throughout the UK are using robotics and AI to transform their approach to time and expense management, greatly reducing costs and improving accuracy in the process.
Many professional service firms use time and expense management systems during their day to day operations. Specialist software such as Concur, Labour or Timely can be deployed to reduce this effort, but this still requires significant administration effort and can become costly. Expenses need to be incorporated into case management systems for profitability analysis and to ensure relevant client charging can occur. Senior finance team members can be deployed to resolve issues and check expenses against company policy, but this process is time-consuming and not a smart use of their valuable time. Furthermore, recording data into finance systems, such as for VAT claims, can be subject to frequent human error, meaning that multiple checks and reworks are common.
Progressive firms have begun to use robotics to check expense claims at the time of submission. Once they have been automatically validated according the rules set, they can be entered into the CMS and finance systems, minimising the need for expensive data entry activity. When combined with Artificial Intelligence, cross-charging and policy adherence rules can be utilised to manage potential exceptions and enforce rules, meaning that time management and expense management systems remain up to date and fully correct. By automating this process, financial staff can focus on highlighted exceptions which may cost the company more significantly in terms of lost revenue or time, and the Robotics and AI solution can manage everything else, greatly reducing administrative costs and improving morale.
To learn about our robotics subscription model or more information about how our robots can help transform your organisation’s approach to time and expense management, speak with one of our experts today.