Stop doing manual accruals.
With its focus on productivity and efficiency, Auritas Intelligent Accrual™ dramatically reduces the time needed to perform financial accruals in conjunction with OpenText VIM.
Automate your Financial Close Process for Inflight Invoices in OpenText VIM with AI Accrual
Enhance your VIM functionality by automating accruals. Auritas Intelligent Accrual™ automates over 80% of your open invoice accruals while ensuring compliance with all known auditing requirements (GAAP, SOX).
Auritas Intelligent Accrual™ is designed as a value extension for SAP customers running OpenText VIM™.
The Auritas Accruals Engine™ is designed as a value extension for SAP customers running OpenText VIM™.
Elevate your accruals management process to new heights, eliminate errors and enhance reporting.
AUTOMATE RULES OF ACCRUAL
Auritas Intelligent Accrual™ boosts
your SAP VIM Implementation
Financial Compliance
Accurate audit ready reporting and adherence to regional & international regulations.
Automate Financial Close
Reduce manual accrual effort by 80% with AI Accrual. We mean it, book a demo.
Tailored Rules
Flexibility and adaptability in managing accrual processes according to any specific requirements.
EXPLORE ACCRUAL AUTOMATION USE CASES
AI Accrual™ empowers you to
optimize the accruals process within OpenText VIM
Streamlined Month-End Closing
The automated system adeptly identifies and accrues expenses incurred but not yet invoiced, ensuring meticulous alignment of financial statements with the organization's fiscal standing at the conclusion of each month.
By automating the accruals process within OpenText Vendor Invoice Management, manual labor is significantly reduced, potential errors are minimized, and the overall closing timeline experiences an acceleration of up to 80%.
Real-Time Expense Recognition
The system monitors and accrues expenses in real-time as they transpire, offering a dynamic and contemporaneous overview of financial obligations. This dynamic perspective facilitates more efficient financial planning, empowering businesses to promptly adjust strategies in response to evolving financial conditions.
With instantaneous insights into the current financial state, organizations can ensure that reporting is exceptionally accurate, fostering better decision-making.
Multi-Criteria Rule-Based Accruals
AI Accrual meticulously applies predefined rules for accruals, taking into account various factors such as accounting rules, incoterms, and invoice exceptions. The tool can be setup to align seamlessly with company and region-specific requirements.
This meticulous approach ensures a nuanced and highly accurate accrual process, adhering to specific business rules and requirements, thereby mitigating the risk of inaccuracies in financial reporting.
Compliance-Driven Accruals
The automated accruals process serves as a robust mechanism to enforce compliance with regulatory and accounting standards. It systematically applies predefined rules and checks, guaranteeing that accruals adhere to both legal and industry-specific requirements.
It significantly enhances accuracy in financial reporting, reduces the risk of non-compliance, and facilitates a streamlined audit process, effectively preparing the financial team for upcoming audit engagements.
EXPLORE USE CASES
Optimize your accruals process within OpenText VIM
Streamlined Month-End Closing
The automated system adeptly identifies and accrues expenses incurred but not yet invoiced, ensuring meticulous alignment of financial statements with the organization's fiscal standing at the conclusion of each month.
Real-Time Expense Recognition
The system monitors and accrues expenses in real-time as they transpire, offering a dynamic and contemporaneous overview of financial obligations. This dynamic perspective facilitates more efficient financial planning, empowering businesses to promptly adjust strategies in response to evolving financial conditions.
Multi-Criteria Rule-Based Accruals
The Auritas Accruals Engine meticulously applies predefined rules for accruals, taking into account various factors such as accounting rules, incoterms, and invoice exceptions. The tool can be setup to align seamlessly with company and region-specific requirements.
Compliance-Driven Accruals
The automated accruals process serves as a robust mechanism to enforce compliance with regulatory and accounting standards. It systematically applies predefined rules and checks, guaranteeing that accruals adhere to both legal and industry-specific requirements.