Automation of data processing, a crucial issue for treasurers

[CONTENU PARTENAIRE] Data processing and analysis is essential for any company, whatever the business, but more particularly in large groups. NEOFI therefore offers solutions that allow the processing and automation of these actions, mainly in the financial field. Sothon Hua, CEO and Founder of NEOFI, tells us about it.

What solutions does NEOFI offer?

NEOFI’s DNA is the processing and automation of data flows. We propose solutions to automate the collection of data from different applications or ERPs, their processing, their enrichment and their routing to the destination with or without user intervention for validation or electronic signature.

Our current solutions are mainly focused on payments, cash management, the fight against fraud, the management of direct debit mandates and the intra-group, multi-currency and multilateral clearing system called Netting. All based on cutting-edge technology, including BI (business intelligence) as a tool for analysis and decision support. In the future we will integrate a new dimension that is that of Big Data combined with artificial intelligence, in order to provide an even finer and more predictive analysis.

How is data processing and its automation a crucial issue for the Finance division?

Because any strategic decision (investments, acquisitions, sales, various developments, etc.) taken at the management level is based on the data transmitted mainly by the Finance division, and these data must be as reliable as possible given the large-scale challenges that can to derive . Hence the daily battle of treasurers to gather all the data coming from their ecosystem and disseminated in the various applications (budget, disbursement or collection forecasts, collection, exchange, payroll, accounting, CRM, ERP, etc.). It is a real obstacle course to identify the truly reliable data that allows you to simulate the position at a given moment to anticipate the situation, make good decisions and communicate them to management. The interest of automation is to have perfect data reliability and to guarantee its traceability.

How have the technological tools used evolved and how are we in the data age?

Data is the gold of the 21st century because the need for increasingly detailed predictive analytics requires the collection of data whose volume is increasingly important since it brings together corporate data, but also cross-business data, and on the other data not structured by Internet networks.

To store and use all this mass of data, new technologies have emerged: Open Data, Big Data, Ipaas, Machine Learning, etc. which are technological indicators of this new generation with very high annual growth. NEOFI is therefore in the process of integrating these new technologies to respond to this market demand and offer financial management the most efficient tools to report information to the general management.

This content was produced with SCRIBEO. The BFMBUSINESS editorial team did not participate in the production of this content.

In collaboration with SCRIBEO

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