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Streamline Decentralized Accounting Operations with Workflow Automation

Posted on: March 29, 2022

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After 30 years of failed attempts and half steps, it’s now possible for accounting leaders to know where work stands and where the bottlenecks are, in order to reduce unnecessary manual effort, phone calls, and meetings; to minimize mistakes and errors, late payments, and PO delays; and to achieve better results.

The pandemic-related shift to remote work made getting things done the old fashioned, manual way next to impossible. But for distributed multifacility, multilocation organizations in skilled nursing and elder care, retail, property management, etc., the challenges of coordinating data, documents, tasks, and people was nothing new.

Getting work done in distributed organizations is particularly difficult in finance and accounting. With each passing day, month-end closings, spending approvals, financial controlling, and compliance requires more effort, causes more frustration, and heightens personal exposure. Executives are demanding adaptable, responsive, and efficient operations and, now that RPA has exhausted its low hanging fruit, CFOs and controllers are being asked to make more strategic, lasting business process improvements.

But automating accounting workflows has been a formidable challenge where, over the past 30 years, little progress has been made. First and foremost, there are no packaged offerings available that can come close to meeting the diverse requirements of each industry, each geography, and each company’s way of doing businesses. While ERP vendors have tried to fill the gap with embedded workflow capabilities, that route has proven to be too rigid, inadequate, and unusable – particularly by non-accountants – and far too expensive to customize and to roll out to infrequent users. Low-code business process platforms promised a fast, easy path to workflow automation that, in reality, required expensive custom coding to address real world form, business logic, process flow, audit trail and security, work portal, and integration requirements.

accrual dashboard

Ultimus dashboards provide visibility into where work stands and process bottlenecks.

That’s where the Ultimus Digital Process Automation Suite comes in. The Ultimus DPA Suite, called “one of the most comprehensive and well-thought-through digital process management systems on the market”, is designed to automate an entire business, rather than individual processes, in the fastest, most agile, and cost-effective way possible. Ultimus DPA Suite won’t force your project into the realm of expensive, time-consuming, and brittle custom coding. And its composable architecture and unmatched reusability allows business users to configure an extensive array of pre-built solutions and solution elements into consistently built, flexible, and interoperable end-to-end workflow solution families.

But Ultimus is about more than just technology - we are about customer success. Our subject matter experts work hand-in-hand with customers to deliver the key early wins that make it easy to justify more and more automation, in essence transforming your digitization journey into a self-funding cash cow.

Learn more about our customer successes or begin your automation journey with a free Proof of Concept that will show you how quickly a solution can be put it in place, how well it works, and whether it meets your ROI hurdle.

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Ultimus DPA Portal’s consolidated task list, messaging, and notifications get work done.

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Ultimus is one of the most experienced providers of finance and accounting workflow automation solutions and technology. Our customers have implemented over 600 business process software solutions in this functional area – on every continent, in every industry vertical, and in all major languages including:

  • AI-assisted Invoice Processing and Approval
  • Purchase & Capex Approval
  • Accrual and Deferral Management
  • Month End Financial Closing Management
  • Petty Cash Requests and Settlement
  • Vendor Onboarding and Credit
  • Travel Authorization and Expense Reimbursement
  • Discount, Refund, and Write-off Approvals
  • Fixed Asset Dispositions
  • Quotation Approvals
  • Budget and Project Approvals
  • Risk Assessment and Management
  • Policy, Control, and Segregation of Duties Management

 

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