Financial Solutions Overview

BizFlow® based finance solutions automate and optimize finance processes to reduce costs allowing you to process more with less resources, eliminate errors, improve compliance and improve quality of service.  While you could certainly purchase a number of individual process specific software solutions, our customers benefit from a single BPM platform capable of addressing many finance process needs.

BizFlow® can be used to automate manual processes such as employee travel and expense or purchase requests as well as augment existing business systems automating costly, error prone exception and approval handling associated with AR and AP processes. Another major benefit of applying BPM to finance processes is the ability to more quickly and cost effectively change workflows and rules based on changing business needs.

Optimize Accounts Payable Approval and Exception handling

Many organizations waste time and money from manual activities due associated with routing invoices for approval or exception resolution. Manual processes introduce data entry errors, lost invoices, duplicate payments and payment penalties due to late payments.  Using BizFlow® as the core component of an AP optimization solution, organizations can convert paper-driven approvals and exception handling into a web-based, SOX compliant solution. Added benefits include SOX compliance and accurate visibility into accruals.

Optimize AP with a BizFlow®-based Solution

Streamline Accounts Receivable

For any organization, streamlining receipt of payment is obviously beneficial. With BizFlow, managing exceptions in remittance items can aid an organization in quickly resolving discrepancies.  Other organizations have also used BizFlow track aging items and customer interactions.

Improve Procurement

Requisitioning goods and services often includes lots of moving parts. Finance, distribution, inventory, partner management, and shipping must stay in synch to deliver the right quantities on-time and in budget. The more complex the procurement cycle, the more likely mistakes enter into the total cost of ownership calculation.

Systems and applications exist that support procurement processes. However, these systems often lack workflow functionality that coordinates how procurement stakeholders interact in sharing, validating, and approving contracts and pricing. Everyone needs to know the rules of engagement. And the document flow must be simple, transparent, and easy to handle escalations and exceptions.

Automate Travel and Expense Approvals

Reduce Costs and Improve SOX/Internal Control Compliance

BizFlow Compliance Solutions enable our customers to achieve repeatable and cost-effective Internal Control processes.
One solution we offer is the ability to streamline the documentation of Internal Controls, track the periodic testing of those controls and track and identify corrective actions needed to remediate issues arising from missing or ineffective controls.

Other solutions that we offer include the ability to automate controls within processes to enforce the method by which work is performed.  For example – ensuring all expenses of a certain dollar amount are always routed for proper approval and evidence exists to guarantee approval rules are adhered to to monitoring business systems and upon detection of an event trigger an alert