With an increasing number of users, we’re constantly working to improve our automation platform to meet the needs of our diverse customer base. Whether you’re looking to streamline your invoicing process, account reconciliations, HR onboarding processes, or many others, we’re here to help.  
 

The benefits of using Flowis

• Harmonization of company processes by supporting tighter integration across multiple financial accounting systems 
• Faster invoice processing and exception handling with accessible and actionable AP intelligence 
• Robust IT architecture – scalable from a single server to multi data centers across the globe 

• Fact-based decision-making with real-time executive dashboards 
• Increased compliance with audit history and comprehensive invoice controls 

At SoftPoint, we strive to provide our customers with the best possible automation solutions to help them achieve their business goals. By adopting Flowis, our customers can experience improved process efficiencies and cost savings, freeing up valuable time and resources to focus on growing their organization. Our platform is designed to be user-friendly, customizable, and scalable, so it can grow with your business.

At Softpoint, we believe that our customers are the heart of our organization. We’re committed to providing exceptional service and support to help you succeed.  

Let SoftPoint lead your digital transformation by doing repetitive work, so your team can concentrate on creative, high-value work.

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Understanding Flowis’ Automated Account Reconciliation Process 

Administrator:
Account balances are loaded from your accounting systems and consolidation systems into Flowis. Using your company’s account reconciliation matrix, accounts are assigned for preparation and approval. Flowis automatically approves accounts with reconciled balances, while discrepancies are flagged for further investigation. 

Reconciliation preparers:
In the Flowis system, the reconciliation preparers are responsible for preparing cover sheets, supporting documentation, and all underlying data that supports the account balance. They are assigned to this task based on their responsibility for the account, location, or process. 
 

Reconciliation approvers: 
The reconciliation approvers in the Flowis system have the authority to review all documentation and can either approve or reject it. In case of rejection, the preparator is notified to refine their work. Additionally, the system allows for exceptions to be configured based on value, region, or sensitivity. 
 
Internal / External audit: 
In the Flowis system, audit teams can access all reconciliations without the need for printouts or copies. As auto-reconciled items do not require auditing, this feature can save on audit fees and speed up the review process. 

Compliance:
The Flowis system offers compliance teams powerful reporting capabilities that provide an overview of all reconciliations and their status. Automated reminders and escalations ensure that all reconciliations are prepared on time. The system also allows for internal ad-hoc reviews to be conducted at any time, increasing the quality of reconciliations. 

Archiving:
In the Flowis system, all reconciliation transactions are stored in a single repository, ensuring they are archived even if plants are decommissioned, or individuals leave their positions. 

With Flowis, the account reconciliation process becomes more efficient, accurate, and transparent. The automation and standardization of the process eliminate the need for manual intervention, reducing the risk of errors and delays. The powerful reporting and real-time monitoring features provide visibility into the status of every reconciliation, ensuring compliance and timely completion. Additionally, the electronic archives ensure that all reconciliation transactions are securely stored and easily accessible, even if personnel changes occur. 

Key Features and Advantages of Using Flowis 

Flowis is an advanced account reconciliation system that offers a range of top features and benefits to users. One of the key features is the automated upload of balances from ERPs and consolidation software, which saves time and reduces the risk of errors. Another benefit is the auto-reconciliation feature, which automatically approves accounts with reconciled balances, freeing up time for other tasks. The workflows in Flowis are fully flexible, allowing users to customize them to suit their specific needs. 

The system also provides audit history, ensuring that all changes made to reconciliations can be tracked and reviewed. Notifications, reminders, and escalations are built-in features that help users stay on top of their reconciliation tasks and ensure that everything is completed on time. Powerful reporting capabilities provide an overview of all reconciliations and their status, while electronic archives ensure that all reconciliation transactions are stored in a single repository for future reference. 

In conclusion, Flowis is an essential tool for any company looking to streamline and automate its account reconciliation process. Its top features and benefits, along with its automated and standardized process, make it easy to manage account reconciliations, resulting in improved productivity, accuracy, and compliance.

 Let SoftPoint lead your digital transformation by doing the repetitive work, so your team can concentrate on creative, high-value work.

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