The author of the article explains why resorting to process automation allows for a reliable record of daily operations
In every company, girl, medium or large, there comes a time when employees become more likely to make mistakes. Sometimes due to fatigue, frustration or the simple fact of having to be during a whole working day controlling stock or reconciling information. Be that as it may, a minimum error in this type of tasks could involve millions of losses for a company.
One of the most susceptible moments of mistakes is when people reconcile information; that is, when they compare (usually large) records of data. Many times this data comes from very diverse and different sources of information, making the manual comparison complex and very prone to human error.
This type of activity makes many people in their businesses spend much of their time understanding and controlling transactions, using highlighters, macros in spreadsheets and spending many hours ordering all the information.
To this we add that, if the amount of items to be compared is very large, the comparison task may probably require the full time of one or more people in a team.
Some of the most common examples of comparison of information are: stock against goods received, sales against collections, salaries against liquidations, budgets against expenses. There is no company that controls a process correctly without the need to reconcile.
The bank, for example, is one of the most common reconciliations and occurs between the bank statement and different files, which can be checks, settlements, deposits, transfers, withdrawals, or between sales records in ERPs and transactions paid by cards .
This is a problem that technology has already solved, since, with the automation of the process, in minutes and automatically, companies can know what transactions were paid and on what date. Today it is possible for a company to reconcile sales with cards against payments informed by the cards and in turn, these payments against bank statements, controlling the complete flow of the transaction from the moment the card is passed until the Money is effectively received by the company.
Thus, the automation of the reconciliation allows to simplify the task of comparison and overcome many problems, achieving a clear process with greater transparency and precision; making information tracking much easier. Automation also helps improve data security during the reconciliation workflow. This greater visibility allows decision makers to manage problems faster.
In this way, you can reinvest the time that people spent on operational tasks to use it in more valuable ones and, at the same time, reduce the margin of error to zero, avoiding unnecessary money losses.
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