DOKKA’s AI Bookkeeping – Automating the future of invoice and bill management
There’s always one overarching ‘sign of the times’ in every era. And because we’re now living in an epoch of hyperconnectivity, using technology to power our lives, commanding digital ecosystems via a network of devices, and using cloud-based processes to help us drive faster, better communication in business and socially, machine automation can be said to be the major sign of our time.
Why? Because it lets us get things done quicker. It reduces human error where the prevalence of such could be a problem. And it lets us make better decisions in everything we do.
Bringing the focus to business, automation when it comes to bookkeeping and accounting is still somewhat of a point of resistance, for some enterprises. In fact, most businesses still choose to manually handle their invoicing and billing tasks. It seems that automation when it comes to a business’s fiscal processes, is still seen as a potential business interrupter – perhaps the reason being many assume a process migration will effectively bring business as usual to a stop.
However, the businesses that are embracing AI in bookkeeping and letting automation spearhead those financial processes, are seeing particularly remarkable increases in efficiency and agility in the marketplace. Let’s detail some benefits of AI bookkeeping, and what this functionality can do for your invoicing and billing.
Rise of the machine automated financial division
The operative word here is automation. And these are the key advantages a financial department can enjoy, when AI is baked into its day-to-day:
AI bookkeeping saves time
Apart from invoicing and billing, a finance team is responsible for many manual, time-consuming tasks in a day. AI in accounting effectively takes over many of these tedious processes, freeing up finance teams so that they can focus on more strategic, profit-building tasks.
AI bookkeeping reduces costs
Machine learning in automation means that AI can effectively immediately adapt to an accounting department’s preferred processes, and then keep building in efficiency, perpetually. This kind of efficiency only saves money – less human involvement means less cost, in most cases.
AI bookkeeping reduces error
And just as less human involvement reduces costs, so does it reduce error. And in a department where errors in manual data entry could seriously affect bottom-line standings and accuracy in the books, the reduction of error here is simply a vital byproduct of automation. AI bookkeeping ensures that data entry is completed at the highest level of accuracy, ensuring records are neat, organised, up to date, and audit ready.
AI bookkeeping provides vital business data
Data is now considered generally, to be a business’s greatest asset. With it, insight into every procedural, financial and operational facet of an organisation can be gleaned and studied, for better agility in processes, and better decision making in all aspects.
AI bookkeeping is a data factory for a business’s money matters. As machine learning takes over, and starts to understand processes better and better, it produces the data that lends perpetual understanding to the financial side of a business, allowing people to make the decisions that will guide processes toward heightened efficiency.