Virtual Assistants are Transforming Finance and Accounting Services

Expense management presents major challenges for businesses, yet studies show that strong, efficient cost management can be a source of competitive advantage. Kore.ai bots can help businesses submit and track expenses and receipts. With the help of our chatbots, your finance team can track outstanding invoices, and automate the follow-up process to ensure that invoices are paid and closed in a timely manner. Our chatbots can also be used to allow employees in other departments, like sales or marketing, to more effectively report on and track business expenses by submitting receipts directly to the bot or by asking simple questions like, “do I have any outstanding expense reports?” or “when will I be reimbursed for this business expense?”

Payroll plays a large role in companies for a reason. The crucial nature of payroll, and the impact it has on employees, means that it’s imperative that companies pay close attention to how it is managed. Despite being fairly straightforward in concept, processing payroll is still subject to common errors related to insufficient training, lack of access to up-to-date employee information, and more. Plus, employees often ask the same questions over and over again, which makes it hard for payroll staff to complete their work and increases the likelihood they make a mistake. Our chatbots can be used in two ways to help streamline payroll and payroll processing. Kore.ai bots can be used to answer common employee questions related to topics like direct deposits, pay periods, and benefits. They can also be used to help onboard and train inexperienced payroll staff, or help experienced employees stay up-to-date, by pulling information directly from your knowledge bases, including FAQs, websites, documents, and wikis. This helps your payroll staff complete tasks more quickly and accurately.

Internal customer service is important in that it helps your employees do their best to serve external customers and promote the interests of the company. Many companies have found that employees, contractors, and suppliers often ask the same questions and types of questions over and over again. Chatbots can be used to answer these questions, to create faster, more satisfactory employee experiences, and to improve relations between the finance and accounting departments, the rest of the organization, and the supply chain.

Selecting the right suppliers for your business is vital to ensure that you can deliver your products and services on time and at the best price while maintaining quality standards. Choosing the right supplier, however, involves much more than simply scanning a series of price lists – including factors like value for money, quality, reliability and service. Collating this data, however, can be a cumbersome and time-consuming process for finance and accounting teams. Our chatbots can be used to help vet new suppliers by checking their credit scores or tax information. This information can be accessed by your team by quickly and easily chatting with the bot using natural language. They can even help set new suppliers up in your systems of record. Our bots help take care of the more mind-numbing and monotonous tasks financial professionals must complete, freeing them up to take on tasks they are better suited for.