Across various systems of records
What are SmartBots…
Benefits and Limitations of RPA Technology
Robotic Process Automation (RPA) has been around for decades as a technology mimicking how humans interact with software to perform high-volume, repeatable tasks.
RPA is adequate for automating many corporate finance and accounting back-office tasks, with a precisely defined set of business process rules, data definitions, and business process workflows.
However, in today’s dynamic business landscape, with required collaboration across internal and external stakeholders and handling diverse sets of structured and unstructured data, RPA alone is not sufficient when handling more complex business, unstructured inputs and processes typically found in today’s complex back-office accounting and finance operations.
Auditoria SmartBots and RPA deliver optimal automation for finance
Auditoria® SmartBots, based on Advanced AI/ML/NLP technology, is the industry’s first purpose-built SaaS application that combines intelligent, cognitive automation and multi-stakeholder collaboration in a single user experience.
This advanced automation results in dramatic improvements in efficiency and productivity in the back-office, freeing accounting staff from handling routine and mundane tasks while concurrently improving customer service with rapid responses and accelerating financial KPIs like cash flow performance.
SmartBots intelligently automate complex finance workflows while collaborating and engaging with the company’s customers, suppliers, vendors, and internal stakeholders.
Artificial intelligence-enhanced SmartBots execute discrete, pre-packaged, purpose-built accounting applications called SmartFlow Skills to perform a wide range of critical finance back-office functions automatically.
RPA is a pre-programmed “robotic arm” capable of executing a precisely defined automation workflow and rules-based orchestration.
At the same time, AI- and ML-powered Auditoria SmartBots are sufficiently “intelligent” to infer semantic meaning from unstructured (often complex and ambiguous) communications and data, make decisions and complete a variety of business tasks, effectively providing cognitive skills that, until the recent past, had been solely a human’s domain.
Companies run public and private mission-critical applications across the cloud in today’s enterprise landscape. In many cases, they still have business processes that depend upon applications running in their data centers.
Some of these applications often don’t support modern API-based integrations. Auditoria embeds traditional unattended RPA within Auditoria’s cognitive SmartBots.
Companies now seamlessly automate business processes across modern API-friendly SaaS applications and legacy applications combined with multi-stakeholder engagement delivered in a simple user experience.
When coupled with RPA, Auditoria SmartBots integrate into legacy applications and external third-party systems to query and process information and provide updates to vendors and customers.
SmartBots use RPA technology to close the loop and update external data within external applications to keep all critical systems updated with the latest information.
SmartBots learn, reason, and perform tasks, acting as “junior accountants” that engage with systems of record, shared inboxes, and critical stakeholders.
By leveraging RPA technologies to access external legacy applications and data sources, Auditoria SmartBots capture data, perform actions, and hand off to humans using sophisticated workflows, escalating when intervention is needed.
Auditoria’s RPA-based integration layer provides additional functionality:
What’s so “Smart” about Auditoria?
Auditoria SmartFlow Skills are discrete, pre-packaged, purpose-built accounting applications that automatically perform a wide range of critical finance functions.
SmartBots act as “junior accountants” that execute the SmartFlow Skills, engaging with systems of record, shared inboxes, and critical stakeholders.
SmartBots capture actions and hand-off to humans using workflows to escalate when intervention is needed.
And now, SmartBots embed traditional RPA workflows and deliver a genuinely autonomous experience to end users.
AI/ML SmartBots + RPA Complement Each Other
Showcasing Auditoria SmartBots with traditional, unattended RPA
Invoice-to-cash automation is a must-have requirement for enterprise companies dealing with a large volume of customers. This process involves sending invoices to clients and running Collections Campaigns on various channels, including e-mail, mobile, and Procurement payer portals. Payer portals are broadly used technology to submit, reconcile, and apply payments to customer and vendor bills and invoices.
There are a variety of payer portals in use today, some of which are vertical industry-specific, while others are more general. Many of them don’t expose API-based integration due to potential security issues. Some are legacy-based technologies that do not expose an API-based integration.
Auditoria offers a combined solution where its cognitive SmartBots for SmartCollections automate the invoicing and collections process across e-mail and payer portals. This automation level is done by embedding traditional RPA to support legacy payer portals in combination with native API support for e-mail and modern applications.
For uploading invoices and Collections follow-ups to a payer portal, traditional RPA technology is an adequate solution that effectively replicates a human operator’s process to complete a well-defined and structured sequence of manual (primarily data entry or data extraction) steps in a given business process, usually a workflow.
Auditoria leverages traditional RPA platforms such as Microsoft PowerAutomate as a “robotic arm” technology to access Payer Portals to populate, augment, and extract data, just as a human operator would. To complete complex business processes and transactions that often span multiple systems and data formats and might be “long-running” in nature, Auditoria adds additional mechanisms.
Interested in Learning More?
We’d be happy to help you understand how Auditoria SmartBots transform your Finance and Accounting functions.