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Reinventing finance and accounting through automation


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You're hearing a lot about business transformation. But what does it means for professionals in finance and accounting? Simple: It means greater operational efficiency, accuracy and compliance, and a workforce freed from spreadsheets to address strategic matters. This slideshare shows you the way.

Published in: Economy & Finance

Reinventing finance and accounting through automation

  1. 1. Closing the finance and accounting innovation gap with BPaaS How technology will change Business Process Outsourcing forever – and give you the competitive edge you need
  2. 2. 5 You’ve heard a lot of talk about transforming the finance and accounting function over the years.
  3. 3. 65 But that talk really hasn’t translated into action.
  4. 4. Transformation That’s because nobody quite knew what transformation would look like.
  5. 5. Yet there’s no doubt that it needs to happen.
  6. 6. Doing more with less during the first wave of BPO simply relied on labor arbitrage.
  7. 7. Uploading Find somewhere cheaper, and outsource your processes there.
  8. 8. Error! But“cheaper”isamoving target,anditusesoutdated technologyandpractices. And that put the brakes on innovation.
  9. 9. But now, technology is changing everything – and BPO is being reimagined.
  10. 10. This is Beyond Process Outsourcing.
  11. 11. It’s about smarter ways of working.
  12. 12. InstallingIt’s about baking in and constantly updating best practices.
  13. 13. And it’s about using automation to crunch numbers, extract insight from raw data, and handle everyday tasks faster, better and more accurately.
  14. 14. Welcome to the world of BPaaS – Business Process as a Service.
  15. 15. BPaaS gives you a predictable operating cost – not a big-bang, all-or-nothing capital investment.
  16. 16. It’s cloud-based and secure. A system that draws on best workflow practices and cutting-edge technology.
  17. 17. Trend #1 Trend #2 It has built-in analysis that helps you identify trends or opportunities to improve your business.
  18. 18. It allows smarter working through collaborative tools, such as instant messaging.
  19. 19. And here’s the paradox. Despite the undisputed advantages of customization in other areas, one size really should fit all when it comes to BPaaS. Because customization takes time and costs more.
  20. 20. The benefits of BPaaS are huge.
  21. 21. Updating RequirementsUpdates that keep up with regulatory requirements and technological advances.
  22. 22. –– Significant cost savings. –– Process simplification. –– Productivity gains.
  23. 23. And BPaaS may be outsourced, but it’s not out of sight. You maintain total visibility and you have direct access. So it’s not a “black box” solution, but one that gives you a window into the workings of your world.
  24. 24. If you’re a CFO, this is not just outsourcing – itis peace of mind.
  25. 25. You will be fully compliant.
  26. 26. Risks Your risks will be reduced.
  27. 27. Complex transactions, such as cross- border value-added tax, are handled accurately and efficiently. When you sign off on the figures, you’ll be certain they’re right.
  28. 28. For organizations of all sizes, BPaaS changes everything.
  29. 29. Tue CALENDAR 10:10 06 In 5 minutes Brainstorm When Today 10:15 am to 11:15 It means you’ll finally get out of reactive, catch-up mode and into proactive, strategic, innovative mode. You’ll do more of what you do best, and outsource the things that get in the way.
  30. 30. BPaaS will also help you get the most out of your people.
  31. 31. No longer will highly qualified professionals be dragging and dropping, cutting and pasting, stitching figures together and re-keying data.
  32. 32. They’ll stop doing routine, time-consuming, low-value, high-cost activities.
  33. 33. And they’ll start getting creative, thinking about the bigger picture and putting their talents to use.
  34. 34. BPaaS is a quantum leap forward.
  35. 35. BPO BPaaS Time Key FindingsIt’s not just about cutting costs. It’s about adding value. About moving away from short-term tactics to long-term strategy. Making better decisions faster, armed with hard facts and insights drawn from a solution that constantly learns and improves.
  36. 36. It’s about finally working smarter, not harder.
  37. 37. –– Gaining a competitive edge. –– Scaling up and scaling down with ease. –– Staying responsive.
  38. 38. BPaaS is the solution you’ve been waiting for.
  39. 39. “Transformation” is no longer buzzword; it’s a business reality. BPaaS helps you close the gap between good and great, as well as the gap between you and your competitors.
  40. 40. BPaaS is the future of BPO – and it will change the face of finance and accounting as we know it.
  41. 41. Welcome to the future.
  42. 42. AboutConduent™ Conduent™ is the world’s largest provider of diversified business process services with leading capabilities in transaction processing, automation, analytics and constituent experience. We work with government and commercial customers, helping them deliver quality services to the people they serve. Conduent™ manages interactions with patients and the insured for a significant portion of the U.S. healthcare industry. We’re the customer interface for large segments of the technology industry. And we’re the operational and processing partner of choice for public transportation systems around the world. Whether it’s digital payments, claims processing, benefit administration, automated tolling, customer care or distributed learning – Conduent™ manages and modernizes interactions to create value for our clients and their constituents. Learn more at © 2017 Conduent Business Service, LLC. All rights reserved. Conduent and Conduent Agile Star are trademarks of Conduent Business Services, LLC in the United States and/or other countries.