Statement & design about Finance
Manual processes lack version control, audit trails, consistency, and scalability. They increase the risk of inaccurate or incomplete data spreading across spreadsheets, making it difficult for business leaders to be confident in the decisions they make based on that data.
Value of the integration for the finance
Inaccurate Data: Mismatches between sales and finance teams result in at least 4% of manually entered data being inaccurate.
Manual Processes: Lead to inefficiencies and errors that cost companies up to 30% of their annual profits.
Spreadsheets: Using spreadsheets means that decision makers deal with information that is at least 12 to 24 hours old.
Compliance Risks: A single data entry error can spread to dozens of spreadsheets, and a lack of audit capabilities increases compliance risks.
- Improved automation as systems communicates with each other
- Share data seamlessly through integration
- Greater data accuracy and reduced record redundancy
- See data in real time as the programs are constantly communicating with each other
- Compliance risk is reduced with easier scalability