Automatic processing of bank statements
This robot makes life easier where the accounting and banking systems need to be interfaced.
Every morning, it logs into the bank and retrieves the statements for the previous day.
The robot then posts the bank statement line items, taking into account the accounting principles or using the purchase and sales ledger. This ensures posting allocations on the fly.
Surely, the robot checks whether a specific line item is subject to any rules and if it is not sure of the posting allocation, it alerts the human operator who will make the decision. Thus, in working with the robot, one can be sure of the correctness of the assigned items.
By automating the process, we get current information about the status of payments. Working on current data in receivables, debt collection, or trade credit management processes becomes much more efficient.