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SERVICES

The Intelligent way to Automate Finance 
Finance AI from Kanbina

The advent of Finance AI heralds a step change in productivity across Enterprise processes and data silos

 

Most organisations use a wide variety of applications to underpin their business and finance operations. This often includes a mix of SaaS ERP, EPM and other Financial Tools, as well as legacy, on-premise ERP, ledgers, spreadsheets, time management, billing, and project accounting systems, not to mention proprietary Line of Business systems. This creates data silos and process breaks that undermine the effectiveness of the Enterprise. 

Over the last few years, larger organisations have sought to address process inefficiencies and automate areas such as invoice processing with Robotic Process Automation (RPA) solutions; however, this is expensive, resource-intensive software to implement, and tends to be task focused, rather than enabling end-to-end process automation.  
 

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Gartner has identified Finance AI as the next phase in the automation journey and calls this Hyperautomation. 

Finance AI is set to supersede RPA over the next 5 years, as the underlying technology brings superior benefits. Not reliant on screen-scraping, and rules engines, AI uses Machine Learning, Computer Vision and Natural Language Processing to move the story on from task automation to hyperautomated processes and advanced predictive analytics. 

Using data, AI learns processes autonomously, rather than being rules based, and can process structured, semi-structured and unstructured data, allowing customers to automate entire processes and not just tasks. 

During the next 5 years all CFOs and Finance Leadership teams within well run organisations around the world, will look to leverage Finance AI to improve the efficiency of their operations and derive insights to drive more sustainable growth.
 

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Unify Your Teams

Accelerate Digital Transformation in Finance 

Kanbina helps clients to realise the benefits of Finance AI with our market-leading Machine Learning platform. 

Kanbina Finance AI uses a unique Machine Learning Process Automation (MLPA) feature, which has been designed to enable high performing Finance teams to join the silos, remove the breaks and create powerful end-to-end business processes.

Our Finance AI solutions overcome analogue workarounds and barriers with quick-to-deploy machine learning models and smart integrations. 

Kanbina enables Finance AI.
 

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MLPA

 

RPA vs AI

RPA

RPA software executes an automated process without the need for a human to explicitly control the software, however, it is limited to following an expected set of steps or rules defined in advance.

RPA struggles when faced with the unexpected — missing data, a new invoice style, a US English date format when it is expecting a UK English one, and so on.

The predefined rules for RPA based finance automation tools allow little room for error and result in humans frequently being pulled into the process to resolve exceptions.

 

This limits the range of processes where automation is applicable to simple, well-defined actions needing repeated, quick, and cost-effective execution. 

AI

AI is different to RPA software, in that it learns the process. Machine Learning models, Computer Vision and NLP, react to changing situations and can actively make predictions and decisions. Furthermore, because AI is data driven, it has significant security advantages over RPA, which interacts with client systems at the keyboard level and deploys agents into end user computers. This makes RPA much more costly for IT to maintain and to scale up, unlike Kanbina.

 

Finance AI software examples include extracting data from, reading, and understanding invoices without users needing to define recognition templates, determining the correct values for missing information and appropriate GL codes, or identifying risk and fraud. Each of these solutions operates on the learned AI capabilities within the software and not just predefined rules.   

 
 
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ERP Optimisation

Sweat Your Assets

Our machine learning models offer a low cost and light touch way to remove manual interventions

Now more than ever, businesses and organisations need to get more bang for their buck. 

Kanbina MLPA enables clients with complex legacy or multi-ERP environments to obtain enhanced levels of automation and efficiency without the need for a costly, big bang ERP replacement programme. 

This provides the time to adopt a lower risk, phased approach to migrating core finance and business systems to the Cloud, as and when the conditions are optimal to do so. 

AI Advisory

AI/ML Design, Delivery & Governance Experts 

Our AI experts design and build models that remove process inefficiencies

Kanbina can be commissioned to provide advisory services on adopting AI in Finance. 

 

Whether it’s to upskill accounting and IT staff, provide mentoring to leadership teams, build business cases or deliver project governance for wider enterprise initiatives, our consulting practice is on hand, equipped with a deep practical, technical and critically, a socially responsible appreciation of the challenges organisations face in adopting sustainable AI solutions. 

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