Financial Excellence Services
Auritas provides a comprehensive suite of financial optimization services designed to streamline and enhance the efficiency of various financial processes.
Solution Details
Auritas provides a comprehensive suite of financial optimization services designed to streamline and enhance the efficiency of various financial processes. These services leverage advanced technology and strategic integration to address key areas such as accrual management, invoice processing, cash flow, tax compliance, and pricing.
By utilizing cutting-edge solutions and expert partnerships, Auritas ensures that organizations can improve accuracy, reduce manual effort, and accelerate financial operations. Each service is tailored to meet the unique needs of businesses, helping them achieve greater operational efficiency and financial control.
- Auritas Intelligent Accrual for AI automation of the month-end financial close process.
- OpenText Vendor Invoice Management optimizes invoice processing and automates pre-paid amortization.
- Cash Application (AR) improves cash flow management and customer collections.
- SAP Vertex for compliant and optimized global tax solutions.
- SAP Vistex streamlines pricing and contracting.
At Auritas, we ensure financial optimization success.
Auritas has worked on hundreds of projects optimizing systems, applications and processes to ensure smooth, automated invoice management. Why Auritas?
- Auritas Chief Technology Officer was part of the team that built the original VIM product.
- Over three decades of experience with process optimizations and implementations.
- The team of certified professionals brings decades of deep knowledge in process optimization and implementation.
- Excellent track record and extensive experience in implementing SAP, OpenText, Vistex, and Vertex solutions.
- Tailored solutions that are designed to meet the specific needs of each organization
Key Solution Implementations by Auritas:
Auritas Intelligent Accrual (VIM is a Pre-requisite)Auritas Intelligent Accrual automates financial processes, ensuring compliance and efficiency in managing accruals.
-
- Applies predefined rules and checks to ensure legal and industry-specific compliance.
- AI-driven automation reduces manual labor and accelerates closing timelines by up to 80%.
- Improves reporting accuracy and prepares the financial team for audits with greater efficiency.
OpenText Vendor Invoice Management (VIM)
OpenText VIM integrates seamlessly with SAP to optimize financial operations, improving efficiency and accuracy in accounts payable.
- Centralizes accounts payable and invoicing, streamlining decentralized buying processes.
- Enhances automation in the invoice-to-pay process for faster, more accurate transactions.
- Delivers secure value quickly, improving financial operations and reducing manual intervention.
OpenText Vendor Invoice Management - Pre-Paid Amortization
Auritas extends OpenText VIM by automating the management of pre-paid amortizations, enhancing financial oversight.
- Automates both short and long-term amortization schedules for efficient expense management.
- Ensures GAAP compliance, improving financial accuracy and governance.
- Streamlines tracking and management of pre-paid expenses, enhancing financial control.
Cash Application (AR)
Cash Application services improves cash flow management and collections through seamless integration with OpenText VIM.
- Matches incoming payments with corresponding invoices to reduce manual reconciliation.
- Streamlines processes to improve cash flow and reduce collection bottlenecks.
- Eliminates manual errors by automating cash application, improving overall accuracy.
SAP Vertex – Global Tax Solutions
Comprehensive global tax solution within SAP, simplifying tax management and compliance.
- Automates complex tax filings and reconciliation processes for various global taxes.
- Streamlines indirect tax management, ensuring accurate and efficient tax handling.
- Supports businesses in maintaining global tax compliance, reducing errors and penalties.
SAP Vistex – Streamlined Pricing and Contracting Processes
Optimize pricing, contracting, and sales management.
- Manages rebates, vendor chargebacks, and growth incentives for both sales and purchasing.
- Customizes pricing strategies for optimized pricing management and contract efficiency.
- Improves sales performance with enhanced management of incentive compensation.
Knowledge Articles:
- How SAP Vertex Simplifies Tax Compliance - https://www.auritas.com/blogs/how-sap-vertex-simplifies-tax-compliance/
- 5 Reasons to Upgrade Your OpenText Vendor Invoice Management (VIM) - https://www.auritas.com/vim/upgrade-your-opentext-vim/
- Unlocking the Benefits of Vendor Invoice Management (VIM) - https://www.auritas.com/vim/benefits-of-opentext-vim/
- Audit Trails and Transparency through Accruals Automation - https://www.auritas.com/vim/accruals-automation-audit-trails/
- Streamlining Financial Workflows: The Crucial Role of AI Automation - https://www.auritas.com/vim/accruals-automation/
- 5 Considerations for Accounts Payable Optimization Success - https://www.auritas.com/vim/accounts-payable-optimization/
- Vendor Invoice Management Best Practices - https://www.auritas.com/vim/vim-best-practices-2/
Success Stories/Case Studies:
- Touchless Automation Increased to 85%
- Toro (Manufacturing)
- OpenText Vendor Invoice Management implementation
- Improved relationships with suppliers.
- Processed 700+ thousand invoices.
- Read more.
- Toro (Manufacturing)
- Global Invoicing Transformation
- Nvidia (Technology)
- Improved financial and regulatory compliance.
- Enhanced scalability.
- Streamlined financial operations.
- Read more.
- Nvidia (Technology)
- Automated contract lifecycle with SAP Vistex
- Bioventus (Life Sciences)
- Streamlined contracts with robust approval mechanisms
- Implemented data governance policy
- Significantly reduced manual contract related tasks
- Read more.
- Bioventus (Life Sciences)
- Enhanced global tax compliance with SAP Vertex
- Maxar (Aerospace Technology)
- Compliance in 85+ Countries
- Automated Financial Reporting
- Real-time Visibility
- Read more.
- Maxar (Aerospace Technology)
Solution Details
Business Value
Auritas provides a comprehensive suite of financial optimization services designed to streamline and enhance the efficiency of various financial processes. These services leverage advanced technology and strategic integration to address key areas such as accrual management, invoice processing, cash flow, tax compliance, and pricing.
By utilizing cutting-edge solutions and expert partnerships, Auritas ensures that organizations can improve accuracy, reduce manual effort, and accelerate financial operations. Each service is tailored to meet the unique needs of businesses, helping them achieve greater operational efficiency and financial control.
- Auritas Intelligent Accrual for AI automation of the month-end financial close process.
- OpenText Vendor Invoice Management optimizes invoice processing and automates pre-paid amortization.
- Cash Application (AR) improves cash flow management and customer collections.
- SAP Vertex for compliant and optimized global tax solutions.
- SAP Vistex streamlines pricing and contracting.
At Auritas, we ensure financial optimization success.
Auritas has worked on hundreds of projects optimizing systems, applications and processes to ensure smooth, automated invoice management. Why Auritas?
- Auritas Chief Technology Officer was part of the team that built the original VIM product.
- Over three decades of experience with process optimizations and implementations.
- The team of certified professionals brings decades of deep knowledge in process optimization and implementation.
- Excellent track record and extensive experience in implementing SAP, OpenText, Vistex, and Vertex solutions.
- Tailored solutions that are designed to meet the specific needs of each organization
SAP Finance Optimization
Key Solution Implementations by Auritas:
Auritas Intelligent Accrual (VIM is a Pre-requisite)
Auritas Intelligent Accrual automates financial processes, ensuring compliance and efficiency in managing accruals.
-
- Applies predefined rules and checks to ensure legal and industry-specific compliance.
- AI-driven automation reduces manual labor and accelerates closing timelines by up to 80%.
- Improves reporting accuracy and prepares the financial team for audits with greater efficiency.
OpenText Vendor Invoice Management (VIM)
OpenText VIM integrates seamlessly with SAP to optimize financial operations, improving efficiency and accuracy in accounts payable.
- Centralizes accounts payable and invoicing, streamlining decentralized buying processes.
- Enhances automation in the invoice-to-pay process for faster, more accurate transactions.
- Delivers secure value quickly, improving financial operations and reducing manual intervention.
OpenText Vendor Invoice Management - Pre-Paid Amortization
Auritas extends OpenText VIM by automating the management of pre-paid amortizations, enhancing financial oversight.
- Automates both short and long-term amortization schedules for efficient expense management.
- Ensures GAAP compliance, improving financial accuracy and governance.
- Streamlines tracking and management of pre-paid expenses, enhancing financial control.
Cash Application (AR)
Cash Application services improves cash flow management and collections through seamless integration with OpenText VIM.
- Matches incoming payments with corresponding invoices to reduce manual reconciliation.
- Streamlines processes to improve cash flow and reduce collection bottlenecks.
- Eliminates manual errors by automating cash application, improving overall accuracy.
SAP Vertex – Global Tax Solutions
Comprehensive global tax solution within SAP, simplifying tax management and compliance.
- Automates complex tax filings and reconciliation processes for various global taxes.
- Streamlines indirect tax management, ensuring accurate and efficient tax handling.
- Supports businesses in maintaining global tax compliance, reducing errors and penalties.
SAP Vistex – Streamlined Pricing and Contracting Processes
Optimize pricing, contracting, and sales management.
- Manages rebates, vendor chargebacks, and growth incentives for both sales and purchasing.
- Customizes pricing strategies for optimized pricing management and contract efficiency.
- Improves sales performance with enhanced management of incentive compensation.
Additional Resources
Knowledge Articles:
- How SAP Vertex Simplifies Tax Compliance - https://www.auritas.com/blogs/how-sap-vertex-simplifies-tax-compliance/
- 5 Reasons to Upgrade Your OpenText Vendor Invoice Management (VIM) - https://www.auritas.com/vim/upgrade-your-opentext-vim/
- Unlocking the Benefits of Vendor Invoice Management (VIM) - https://www.auritas.com/vim/benefits-of-opentext-vim/
- Audit Trails and Transparency through Accruals Automation - https://www.auritas.com/vim/accruals-automation-audit-trails/
- Streamlining Financial Workflows: The Crucial Role of AI Automation - https://www.auritas.com/vim/accruals-automation/
- 5 Considerations for Accounts Payable Optimization Success - https://www.auritas.com/vim/accounts-payable-optimization/
- Vendor Invoice Management Best Practices - https://www.auritas.com/vim/vim-best-practices-2/
Case Studies
Success Stories/Case Studies:
- Touchless Automation Increased to 85%
- Toro (Manufacturing)
- OpenText Vendor Invoice Management implementation
- Improved relationships with suppliers.
- Processed 700+ thousand invoices.
- Read more.
- Toro (Manufacturing)
- Global Invoicing Transformation
- Nvidia (Technology)
- Improved financial and regulatory compliance.
- Enhanced scalability.
- Streamlined financial operations.
- Read more.
- Nvidia (Technology)
- Automated contract lifecycle with SAP Vistex
- Bioventus (Life Sciences)
- Streamlined contracts with robust approval mechanisms
- Implemented data governance policy
- Significantly reduced manual contract related tasks
- Read more.
- Bioventus (Life Sciences)
- Enhanced global tax compliance with SAP Vertex
- Maxar (Aerospace Technology)
- Compliance in 85+ Countries
- Automated Financial Reporting
- Real-time Visibility
- Read more.
- Maxar (Aerospace Technology)