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Finance, accounting and payroll automation
Transform your accounting department with RPA and Intelligent Automation

Finance departments that embrace digitisation and automation can further boost efficiencies and help their business stand out from the competition. QX’s Automation Centre of Excellence (CoE) harnesses the power of Robotic Process Automation (RPA), Cognitive and Artificial Intelligence/Machine Learning technologies to build virtual workers that automate a wide range of F&A activities.
Our automation solutions enable clients to accelerate their digital transformation journey without impacting the existing IT landscape or making additional investments in technology. Built by leveraging our in-depth F&A operational experience and automation expertise, our process robots help clients to:
Gain significant cost savings
Improve productivity
Boost operational efficiency


Our foundation – ADAM and EVE

Automation Driven Advanced Machine
ADAM deals with structured and patterned data, taking complete control of all repetitive, time-intensive, mundane tasks, enabling its buddy-operational staff to focus largely on complex and analytical tasks. Mainly, ADAM handles non-intrusive activities such as:
Opening, sending, archiving emails
Moving files or folders
Data entry-extraction-reformatting
Copying and pasting
Data updation in multiple systems
Extraordinary Virtual Engine
EVE deals with unstructured but patterned data, handling all the cognitive/AI/ML based activities, which covers all human judgmental, NLP and analytical related tasks. EVE represents the cognitive side of our automation solution. Examples:
Document text extraction
Reasoning & computation
Comprehension
Free text analysis


Transforming Finance & Accounting Operations – Processes ADAM and EVE can Automate
With the help of ADAM and EVE, we can automate a wide range of finance, accounting and payroll tasks, including but not limited to:


Bank reconciliation
Login to multiple bank accounts
Login to ERP system
Extraction data for relevant general ledgers
GL and Bank statement cross referencing
Bank reconciliation statement preparation
Accounts receivables
Monitoring and analysis of receivables
Sending reminders for long outstanding balances
Customer master data management
Calculating provision of doubtful debts
Posting journal entries for payments & provisions
Accounts payable
2-way and 3-way matching
Issue purchase order receipt
Processing expense approval request
Processing expense approval request
Year-end adjustment preparation and posting
Payroll
Downloading data from vendor management systems
Cross referencing reported hours against schedule
Identifying and flagging timesheet errors
Calculating payment and deductions



Our finance & accounting automation solutions

Bank reconciliation automation
Bank reconciliation is a very time consuming activity that requires painstaking effort, especially when a large number of bank accounts, regions and currencies are involved. With QX bank reconciliation automation solution, the entire process – including data extraction from various sources, cross referencing and matching, and reconciliation statement preparation – can be automated.
Read More >
Accounts Payable automation
The accounts payable process has matured over the years, but a number of businesses deal with a lot of unstructured data and non-standard data. QX accounts payable automation solution helps to digitise and automate payables processes like 2-way and 3-way matching, issuing purchase order receipts, processing expense approval request, monitoring outstanding balance and more.
Payroll automation
An efficient payroll process is crucial to employee/contractor retention – getting paid correctly and on time is a basic expectation. The QX payroll automation solution can download data from vendor management systems, cross reference hours against the schedule, identify and flag errors, and perform related calculations.



Case study

Case Study: Learn how Bank Reconciliation Automation Works in Real Life
Read case study
Benefits
40% productivity improvement, which helped redeploy resources to other critical functions
50% improvement in turnaround time
100% accuracy in processing
Non-intrusive solution automates the process with minimal impact on the IT landscape



Discover how QX Automation CoE can unlock value for your business

Automation that works
We customise the solutions based on the clients process, ensuring that it delivers the expected benefits.
Efficiency and cost gains
Enhanced efficiency and 20-30% cost reduction due to reduced cycle time.
No additional investments
No costly investment in the form of licensing fees.

Virtual workforce
ADAMs and EVEs introduced as virtual workers automating repetitive, time-intensive tasks.
Non-intrusive
ADAMs & EVEs are non-intrusive on existing applications and no not impact the existing IT landscape.
Scalable
Enhanced scalability due to availability of virtual workforces (ADAMs) to handle volume spikes.

24/7 operational support
Round-the-clock operational support using ADAMs and EVEs.
Hybrid model
Co-working-handshaking between humans and machines to build a ‘buddy’ relationship between the two.
Risk mitigateion
Significant reduction in risk due to elimination of manual errors.



Speak to our automation experts
Want to learn more about QX’s automation solutions? Want to learn how exactly ADAM and EVE can help transform your finance, accounting and payroll process?


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