VAT Returns: How AI radically simplifies the refund of input tax
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…
CATEGORIZE DOCUMENTS
Invoices, purchase orders, delivery notes, order confirmations: after receipt of documents, Finmatics automatically assigns the document type, subsidiary, and document category.
CAPTURE AND MATCH DOCUMENTS
Finmatics reads the incoming documents with artificial intelligence on the line item level. No templates are necessary! Finmatics also automatically matches invoices with the order and delivery note data.
CHECK DOCUMENTS ACCORDING TO LEGAL REQUIREMENTS
All invoices are checked in real-time during processing according to legal requirements. Incorrect documents are returned to suppliers for correction. This saves costly and lengthy rework at a later point in time (auditing).
DOCUMENT APPROVAL WORKFLOWS
After the formal check, the document is forwarded to the relevant department for content control, where it is also approved. The document approval takes place within the self-learning Finmatics workflow or through the workflow of the ERP system.
AUTO-MACHINE LEARNING & CROWD LEARNING
The system learns automatically with every correction and is constantly improving.
FAST IMPLEMENTATION
Go-live in less than 6 weeks thanks to artificial intelligence instead of complex customizing.
TRUSTED BY THE PRO’S
Examination of sales tax criteria developed with leading accounting firms.
Our Success Stories
Artificial Intelligence in Shared Service Centers
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…
Digitalization projects at Gas Connect
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…
BMD: Digital Accounting Meets Intelligent Automation
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…
Group accounting with a little help of AI at Wiener Stadtwerke
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…
Document management supported by Artificial Intelligence
AI knows no borders. A statement that is not only to be read philosophically, but can also be taken literally. CONFIDA is a living example of the cross-national use of…
How AI transforms the Shared Service Center
Anyone who still asks whether AI will persist in accounting asks the wrong question. Béla Tasi, Managing Director of the Shared Service Center of Enteos in Hungary, knows that “it’s…
