Intelligent recommendations enable people to apply their higher-level skills and know-how more effectively. When recommendations are accepted, processes and tasks execute automatically with speed and accuracy. The decision logic is recorded and auditable.

 

Kanbina produces Intelligent Recommendations in Accounts Payable, Accounts Receivable, Revenue Recognition, Accounting Standards, Balance Sheet Reconciliations and bespoke finance and business processes.

 

Some examples include coding decisions on an invoice, matching PO line items based on descriptions in documents, reconciling data between different data schemas such as bank and invoicing, creating customer invoices in one system based on sales orders in others, aligning contract commitments to accounting standards to recognise contingent revenues and substantiating the balance sheet by clearing all outstanding recommendations.

 

Intelligent recommendations are an exciting and critical solution for finance as increasing levels of data and continuously improving AI algorithms will create more and more opportunities to automate processes, enabling people to focus on the areas requiring a higher skill level, such as interpretation and decision support.