Finance Form Workflow Automation

Expense Reimbursements

Make your finance department more effective and efficient by automating expense reimbursement forms. With formsflow.ai BPMN workflows, you can reduce errors in your expense reporting process by making it quick and easy for employees to upload receipts and expense details, automatically calculate amounts, and streamline the approval process.

Problem

Challenges for the finance department in managing expense reimbursement requests efficiently can lead to delays in processing, potential errors, and a lack of transparency in the reimbursement process.

formsflow.ai Solution

The new solution provides powerful workflows, real-time analytics, offering valuable insights into expense trends and patterns, and custom components in the forms to ensure comprehensive data collection and policy adherence.

Solution Features

Efficient Record Management: Leveraging Form Adapters streamlines the expense submission process. RPA bots can extract and validate information from reimbursement forms, ensuring accuracy and completeness.
Preservation of Expense Records: Saving reimbursement forms as PDF documents ensures the preservation of expense-related data in its original format.
Financial Insights: Live analytics dashboards offer real-time data visualization, empowering finance supervisors to monitor and report on reimbursement requests and expenses efficiently.
Stringent Quality Control: The setting of User Authorization Roles in the Admin Module establishes control over the reimbursement process. This ensures compliance with company policies and standards, enhancing quality control measures.
Seamless Workflow Management: The incorporation of industry-standard BPMN/DMN Workflows facilitates the routing of reimbursement requests through an organized approval process.

Benefits of the formsflow.ai Solution:

Scalability: Enables the finance department to handle a growing volume of expense claims without proportional increases in resources.
Efficiency: Reducing errors in data handling improves employee satisfaction.
Continuous Monitoring: Tighter control over expenses, reduced errors, and data-driven improvements.
Security: Safeguard sensitive financial data and ensure compliance with security and privacy standards.
Error Prevention: Reducing opportunities for errors and policy violations, automation significantly contributes to finance department efficiency.
Resource Optimization: Provides valuable insights into spending patterns, contributing to better financial management.

Contract Renewals

Automating the process of processing contract renewals brings numerous benefits including time savings, improved accuracy, enhanced compliance and risk management, streamlined workflows, better visibility and tracking, improved vendor relationship management, and scalability.

Problem

Difficulties encountered in managing manual tracking and processing contract renewals could lead to missed deadlines, increased administrative burden, and potential financial risks.

formsflow.ai Solution

Finance teams can easily create contract renewal forms, including custom components to collect specific information and automated tasks and reminders, keeping all parties informed and on schedule.

Solution Features

User Access Control: The User Admin dashboard enhances quality assurance and data security by restricting access to sensitive contract information, thereby mitigating the risk of privacy breaches.
Contract Preservation: To maintain the integrity and security of contract renewal information, the ability to export contract renewal forms as PDF documents is invaluable.
Data Entry Automation and Database Management: Form Adapters can be used to extract critical information from renewal forms and seamlessly integrate it into the finance department’s database.
Interactive analytics dashboards: Detailed insights into contract renewal processes. Supervisors and finance personnel can easily visualize and monitor the progress of renewals.
Low Code Workflows: Workflows can be designed using drag-and-drop tools, without having to use BPMN/DMN. These workflows can guide and automate the entire contract renewal process, ensuring that each step is followed consistently, from contract review to client approval.

Benefits of the formsflow.ai Solution:

Consistency: Using predefined templates and standardized fields ensures that all contracts follow the same format and include essential terms and conditions.
Efficiency and Time-Saving: Reduces the need for repetitive manual data entry and paperwork. This saves time for finance professionals.
Compliance and Risk Management: Workflow rules ensure that contracts comply with legal and regulatory requirements, reducing the organization’s exposure to legal and financial risks.
Accurate Records: Automated systems can generate insights and analytics related to contract renewals, allowing finance departments to identify trends, optimize contract terms, and make data-driven decisions.
Conflict Resolution: Automation can facilitate contract dispute resolutions by routing them to the appropriate individuals or departments for review and authorization. This speeds up the process and ensures that concerns are addressed and conflicts are resolved.

Corporate Gift Requests

Often overlooked until the season comes around, the corporate gift request process can be easily automated to provide standardized procedures, cost control, and compliance adherence. formsflow.ai makes the whole process easier to manage and ensures requests are fulfilled efficiently.

Problem

Employees can effortlessly submit their gift requests through the platform, initiating a well-structured process that simplifies tracking, budget management, and approval workflows.

formsflow.ai Solution

Employees can effortlessly submit their gift requests initiating a well-structured process that simplifies tracking, budget management, and approval workflows.

Solution Features

Efficient Form Handling: Through Form Bundling functionality, the platform can automate the use of several gift request forms. This feature reduces user friction and improves overall efficiency.
Data Security: Finance Department can safeguard information from inadvertent alterations or data loss, maintaining the accuracy and reliability of records.
Real-time Insights: The platform’s interactive analytics dashboard facilitates real-time data visualization. Teams can monitor and analyze gift request trends, enhancing transparency and allowing for better allocation of resources for corporate gifts.
User Controls: This not only ensures the accuracy of gift requests but also bolsters data security by limiting access to sensitive information, mitigating the risk of data breaches.
Workflow Efficiency: Implementing Standard BPMN/DMN Workflows allows for a structured and standardized process for handling gift requests.

Benefits of the formsflow.ai Solution:

Resource Optimization: Reduces manual effort, improving accuracy and enabling better allocation of finance department staff to higher-value tasks.
Improved Compliance: Asset tracking automation can help ensure compliance with regulatory requirements and internal policies.
Cost Reduction: Better data visibility leads to better compliance, cost control, and overall process optimization.
Security: Security features collectively help protect sensitive financial data and mitigate the risks associated with manual, paper-based processes.
Scalability: Adding form bundling to automated systems means they can scale with your organization, reducing the burden of legacy solutions.
Accuracy: Reduced human errors in data entry and gift request processes reduces the risk of disputes and conflicts related to gift requests.

Purchase Orders

Purchase Order forms can be easily generated and attached to an automated workflow to reduce errors and streamline the procurement process. Authorized employees can create, submit, and review purchase orders electronically and track order status in real-time.

Travel Reimbursement

formsflow.ai supports travel reimbursement workflows including uploading bills and per diem requests for travel and accommodation. Get transparent tracking and reporting, faster reimbursement processing, mobile accessibility, integration with expense management systems, and a robust audit trail. Automate travel reimbursement form processes to reduce administrative burden and enhance employee satisfaction.

Problem

Handling travel reimbursement requests inefficiently leads to delays in processing, potential errors, and frustrated employees.

formsflow.ai Solution

Employees can easily submit travel reimbursement requests via the platform, collecting essential details like receipts and travel information.

Solution Features

Improved Workflows: The platform’s support for BPMN/DMN workflows allows for the automation of complex reimbursement approval processes
Analytics & Reporting: This includes tracking the status of reimbursement requests and visualizing financial data for informed decision-making.
Hosting Options: The platform ensures that all submitted data is securely preserved in its original format on prem, or in the public or private cloud. This safeguards against accidental alterations or data loss, maintaining the integrity of financial records.
Data Entry Automation: Form Adapters efficiently extract and validate information from reimbursement requests. This ensures that reimbursement requests adhere to company standards and regulatory requirements, thereby enhancing compliance and data security.
Live Notifications: Push notifications & email alerts deliver live messages throughout the process. This includes sending employees approval notifications and status updates.

Benefits of the formsflow.ai Solution:

Faster Processing: Once the system receives a request, it can route it to the appropriate personnel for approval and payment without delays associated with physical paperwork
Policy Compliance: Automated systems can be programmed to enforce company travel policies automatically. This ensures that all reimbursement requests adhere to established guidelines.
Scalability: Automated systems are easily scalable and can handle a higher volume of requests without adding a proportional increase in administrative work.
Data Analytics: Finance departments can analyze spending patterns, identify cost-saving opportunities, and make data-driven decisions to optimize travel expenses.
Cost Savings: By reducing paperwork, eliminating manual data entry, and streamlining processes, automation can lead to cost savings for the finance department.

Finance Department use cases

Automate Your Finance Department Processes with formsflow.ai

Expense Reimbursements

Problem

formsflow.ai Solution

Solution Features

Benefits of the formsflow.ai Solution:

Contract Renewals

Problem

formsflow.ai Solution

Solution Features

Benefits of the formsflow.ai Solution:

Corporate Gift Requests

Problem

formsflow.ai Solution

Solution Features

Benefits of the formsflow.ai Solution:

Purchase Orders

Problem

formsflow.ai Solution

Solution Features

Benefits of the formsflow.ai Solution:

Travel Reimbursement

Problem

formsflow.ai Solution

Solution Features

Benefits of the formsflow.ai Solution:

Getting Started User Guide

Read Our Latest Blogs

We’re in the headlines...