What is Risk Intelligent RPA?
Simply stated, Robotic Process Automation is software technology that minimizes the need for human intervention by automatically performing repeatable, rule-based, and often high-volume tasks. Numerous industries have adopted its time- and money-saving capabilities to improve their important processes, such as claims processing, manufacturing tasks and much more.
However, while RPA improves upon the status quo of numerous manual processes, only Risk Intelligent RPA™ is specifically designed to fulfill the needs of the office of finance as it applies a company’s specific risk tolerances and compliance framework throughout all financial close activities.
Trintech is a visionary in digitalization in the financial close market, and with RPA it is ahead of its competitors – releasing RPA capabilities in 2017 that were designed to drive RPA based on the customers’ configured risk profiles.
2018 Gartner Magic Quadrant for Cloud Financial Close Solutions
How it Improves the Financial Close Process
Financial Close Capabilities
- Risk-based routing and approval
- Auto-approval of low-risk activities
- Application of both local global risk policies at various levels within the process
- Dynamically updated key attributes, such as criticality, scheduling, and ownership
- Touchless administration, including flexible business rules to manage new account assignments
About Cadency’s System of Financial Intelligence
Cadency’s System of Financial Intelligence (SFI) combines ground-breaking automation technologies, such as Artificial Intelligence (AI), Robotic Process Automation (RPA) and Bots, and cleverly applies them throughout Cadency’s System of Financial Controls (SFC) to support the often complex and complicated Record to Report process. These technologies offer unique, powerful solutions to some of the most complex R2R challenges and readily scale as the financial transformation journey evolves and businesses grow.