“We now have much more accurate information at our disposal that we can use to advise our clients. This creates added value on both sides: Our clients benefit from professional financial services and we lay the foundation for long-term partnerships.” – Mag. Friedrich Lehner, partner & tax consultant Aschauer & Rachbauer T: +43 732 672492…
The myth that the use of artificial intelligence (AI) only pays off in large companies is widespread but false. In reality, the effects of automation measures can be enormous, especially in small and medium-sized organizations. That is because each euro saved there is worth more in relation to the total costs than in a large…
Read in this blog article how Finmatics customers benefit from a reduction in manual efforts in regards to their document administration. After the separation process is completed, the invoices can be exported to the ERP or accounting software.
The refund of input tax amounts from other EU countries is burdensome. It is not uncommon for the cost of manual refund procedures to exceed the tax gain that comes out in the end. With the help of the AI-based software “VAT Returns”, however, the process can now be largely automated.
With the rise of new technologies, shared service centers (SSC) need to constantly adapt their way of operating. A shining example of this trend is Avis Budget Group. Its SSC in Budapest has been supporting the group’s subsidiaries with its expertise for nearly 15 years. Thanks to artificial intelligence (AI) and robotics, Avis Budget Group is continuously driving productivity and the quality of its services. Its collaboration with Finmatics is a case in point. By using AI software, the SSC Financial Services department reduced it’s workload for document handling while improving the quality of its data.
How digitalization is discussed and how it is implemented are two different pairs of shoes. Everyone talks about AI and robotics, but in most companies digitalisation comes down to a few technical gimmicks and colorful PowerPoint slides. For Gas Connect Austria, that is not enough. Stefan Reiter sees digitalisation not as an image campaign but as a potential for optimization.
Together, BMD and Finmatics of Abacus.ac, provide an integrated solution for the intelligent automation of their customers’ invoice receipt process: From the digitalization of the receipts to the AI-supported readout to the processing and posting in the accounting software. Read more about the integration!
Together with Finmatics, Vienna’s number one public utility company Wiener Stadtwerke automated invoice processing at the beginning of 2020 by using AI (Artificial Intelligence). Martina Teuber, head of accounting at Wiener Netze, draws a first conclusion after six months of cooperation.
Co-founder of Abacus Ulrich Troeller wrote a column for Akademie3 to explain how we are developing AI for invoice processing. Our data scientists started already in 2017 to work on algorithms that would increase the accuracy of information extraction. Are you curious how Finmatics is evolving and how our customers benefit from it?
Dr. Patrick Sagmeister is co-founder and data science director of Abacus.ac. Patrick answered questions from conference participants at the online conference “AI PRACTICE IN ENTERPRISES “. Read the transcript of the interview.