The automation of finance processes allows for more effective risk management and more reliable data. TouchStone helps your company to eschew paper and optimise workflow, improving the efficiency of your business with our tech solutions.
Invoice processing
Finance teams encounter increased pressure in the modern working environment. Financial teams are often expected to produce data almost instantly, to ascertain the business’ position in the market, its profitability and liquidity. Digitisation of accounting processes means that the key processes, accounts payable, and accounts receivable, can be done instantly, securely, and free from human error.
Touchstone works with finance and accounting departments to improve their business process and reduce invoice processing expenses.
Optimise time and resources
Financial services are under increasing pressure. They need to act rapidly, doing more with less resources. Nowadays, an account has more income streams and outgoings to manage, and a need to update to automated operations. Business process automation is moving at a rapid pace: document management and intelligent data are in demand, due to their efficiency and security. This is crucial in staying up to date with the expectations of an ever more technology driven world, and the benefits of an automated document management system are multiple. Cloud based solutions to accounting enable finance teams streamline operations and become more efficient.
Digitisation of finance
TouchstoneEnergy’s process optimisation consultants have extensive experience in devising and implementing a solution within a financial context. We draw on our knowledge to optimise workflows and improve the efficiency of your financial team. Following a full audit of your current business process, we utilise this information to streamline your practices.
Our tech solutions will lead to many positive changes within your organisation. Automatic capture of documents allows your team to collect, sort and distribute documents in any format. Digital invoice approval speeds up the business process, since tasks migrate instantly from one employee to another, meaning no time is wasted.
Intelligent data is also being used to facilitate compliance with legal obligations, as data can be stored securely and in accordance with regulations. Access control makes it possible to restrict who can see particular sets of data, in compliance with data protection legislation, for instance.
Integration with financial accounting systems allows for more speed and accuracy. Optimisation software connects documents with accounting software like SAP, which accelerates business operations and eliminates human error.
Process mapping can be completed more easily by management teams with automated finance, as the software gives you full control over data and almost instant access to all information. You can easily find invoices from a fiscal year, or find out when a particular invoice was last accessed.
Cloud software solutions for accounting and finance, implemented in alignment with your business’s individual needs, will undoubtedly be more cost-effective and save time for your company. Take a look at TouchstoneEnergy’s tech offering, which we have used to help many organisations like Serengeti Energy.
About TouchstoneEnergy
TouchstoneEnergy is the UK’s leading implementation partner of financial management, enterprise asset management and process management software.
As pioneers of progress and with the colliding forces of digital transformation and energy transition both gathering pace, TouchstoneEnergy helps connect asset-intensive organisations with software that makes a difference in these challenging economic times.
A global IT consultancy dedicated to the Energy sector, TouchstoneEnergy is renowned for delivering best practice asset management, finance, BI and technology-based implementation solutions for oil & gas, renewable, mining and oil field services companies.
Our specialist consultancy team are from within industry and have comprehensive energy sector knowledge with a customer-centric approach that delivers effective results and long-term partnerships for the benefit of our customers.
