Risk-Intelligent Automation

Complete processes efficiently and effectively, aligned with your risk-tolerance framework

HOW RISK-INTELLIGENT AUTOMATION IMPROVES THE FINANCIAL CLOSE PROCESS

A risk management strategy through automation allows for the identification of high-risk items and ensures processes are completed as efficiently and effectively as possible in accordance with their risk frameworks and tolerance levels. Risk automation takes a proactive approach to monitor, activate, and mitigate transactions to ensure visibility and prioritization of high-risk items.

GSK’s ROI with Risk Automation

Utilizing Risk Automation, GSK was able to dynamically schedule reconciliations to reduce the volumes. The example above shows that the volume of reconciliations performed monthly reduced to 41% from 75% while 32% of the reconciliations now only needed to be done on an annual basis, thus saving significant time throughout the year.

For manual journal entries, prior to a risk-based approach, GSK was spending lots of effort on Journals that were of very little impact to the actual balance sheet, but now they are able to focus on items that have a much greater impact to the balance sheet with a combination of risk based automated approvals and dynamic approval routing.

With both risk-based approaches, the dynamic approach ensured compliance to policies while maintaining a robust control framework for these key processes.

Click here to learn about Cadency’s Financial Controls AI vision.

 

Brochure

Risk Intelligent Robotic Process Automation Capabilities

Risk Intelligent Robotic Process Automation In recent years, Robotic Process Automation (RPA) has taken the office of finance by storm, and for good reason. However,...

Learn More

Additional Resources

The Astonishing ROI of Risk Intelligent RPA in Finance & Accounting

Recently, robotic process automation has started to be implemented in a broader set of higher-value functions. The performance and cost savings of RPA are proven and repeatable, and Trintech’s Risk Intelligent RPA takes these benefits to the next level by underpinning the process with an effective controls framework and unifying all key control components.

View the Webinar

Risk Intelligent RPA™ Overview

Learn how Risk Intelligent RPA™ (RI RPA) can reduce financial risk and strengthen your control throughout your entire financial close.

Schedule A Demo Now

Want to learn more? Schedule a demo today to see why some of the world’s largest corporations trust Cadency.