Automate the reporting puzzle

In the realm of corporate finance, the role of corporate accountants is of paramount importance, as they assume the responsibility of overseeing and managing the intricate process of preparing and consolidating the company's general ledgers and financial statements. This entails a meticulous gathering of financial reports and ledgers from various departments/divisional offices within the organization, followed by the tedious task of assembling these pieces into comprehensive financial statements that are presented to the company's top executives.

Picture this: financial reports and ledgers are scattered across the divisional offices of a company, like pieces of a puzzle waiting to be assembled. It is the task of corporate accountants to collect these fragmented pieces and skillfully piece them together, forming a comprehensive financial narrative. One such challenge faced by the accounting team in putting this puzzle together is the proper coding and execution of expenses. Some of the challenges faced are:?

• The team is drowning in a folder full of receipts, lacking sufficient data for proper accounting.
• Timely reconciliations are not taking place.
• Manual processes lead to errors in maintaining the books of accounts and managing vendors, leading to inaccuracies and inefficiencies.
• The tedious process of manually considering each voucher and making journal entries consumes valuable time and effort.

These roadblocks can be managed through an automated system that clears the hurdles adaptively.?

HOC’s ePic offers a transformative approach to address the challenges faced by the accounting team. Its innovative design streamlines processes reduces manual effort, and ensures accurate and efficient management of financial transactions. Let us explore how ePic solves the problems mentioned earlier:

• Gathering invoice data from the back offices: ePic integrates seamlessly with back-office systems, automatically collecting invoice data, eliminating the need for manual entry, and reducing the risk of errors or missing receipts.
• Analyzing and segregating the invoice amounts: ePic intelligently categorizes invoice amounts into the respective expense and prepaid accounts, ensuring accurate allocation and tracking of expenses.
• Applying accounting operations: The solution automates complex accounting operations such as amortization, depreciation, and rounding, ensuring consistency and accuracy in financial calculations.
• Posting transactions: ePic aggregates the transactions for posting journal entries to the general ledger, streamlining the process, and eliminating the time-consuming manual effort of considering each transaction individually.
• Validation and approval check system: ePic facilitates a robust customizable validation and approval check system before posting journal entries. This ensures that all transactions are thoroughly reviewed, validated, and approved, minimizing the risk of errors, and ensuring compliance with accounting policies and standards.

ePic Solution revolutionizes financial management with its advanced functionalities, offering numerous advantages:

• Simplified and Accurate Accounting: ePic provides an efficient system to accurately account for each transaction, eliminating the risk of errors and ensuring comprehensive financial records.
• Reduced Manual Efforts and Errors: By automating accounting entries, ePic minimizes manual errors and saves time, resulting in reliable and error-free financial data. Automated internal controls enhance accuracy and compliance.
• Streamlined Amortization of Prepaid Assets: ePic automates the amortization application to prepaid assets, eliminating the need for manual calculations and complex spreadsheets, and ensuring accuracy and efficiency.

With ePic, businesses can optimize their accounting processes, improve data accuracy, and make informed financial decisions, empowering them to achieve greater success.

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