In today’s competitive business landscape, it is possible to automate labor intensive tasks, processes and workflows in your back office using Artificial Intelligence, Machine Learning enabled Intelligent Data Capture and OCR to gain efficiencies. Phykon’s AI enabled best back office support solutions can help you get more done by automating human tasks with machine learning and AI.
Our client, an Accounts Receivable Financing company was looking for the best back office services. Back office outsourcing was becoming the need of the hour for the company and they zeroed in on our platform to automatically extract information from its customers’ invoices. Phykon’s platform helped them scan incoming invoices and extract several key fields like date, place, vendor, currency, taxes and the overall amount of the transaction from the invoice. This helped them create an AI enabled back office with the best RPA software at a reasonable cost. In such cases, our machine learning algorithms fill in the gaps left by traditional OCR engines to provide extremely high accuracy.
Automation using the best back office support and solutions is particularly useful for Finance and Accounting departments where they can automate accounts payable, accounts receivable, order management, invoicing, collections and reporting processes to work more efficiently. Best RPA also works well for Human Resources, to automatically handle activities such as payroll and absence management, starter and leaver processes and employee data management. By eliminating repetitive and manually interactive processes, RPA drives efficiency, enhances productivity, consistency and accuracy. This enables companies to improve response time in new markets and adhere to global regulatory requirements.