WHAT WE DO

TAO: The Automation Office believes in the power of automation solutions and their potential to revolutionize how companies function. As your end-to-end automation solutions partner, we will work with you to develop your automation strategy, be it basic Robotic Process Automation (RPA) or more advanced cognitive and machine learning solutions, implement it swiftly and closely manage the entire change programme.

The value we deliver comes from being an independent, pure-play automation consulting and services provider with proprietary tools and frameworks, managed by the largest independent pool of experts and supported by best-in-class partnerships.

We understand the challenges and mitigate the risks you would face as you embark on your automation journey and we are committed to standing along with you as you sail new, unchartered waters.


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AutoReconTM

Transforming Account Reconciliations


Enterprise Account Reconciliations are a core accounting process and takes up a massive chunk of productive time in your finance organisations. It’s a process prone to high error rates leading to management and compliance risk.

Reconciling Accounts Manually Eats Up Productive Accounting Time and is Fraught with Risk

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85% of an accountant’s time is spent on completing reconciliations

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15% of accounting personnel’s time is spent on research and fixing the breaks

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50% of companies with over $500M revenue have more than 500 Accounts reconciled quarterly

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There is a risk of $1 to 2 million for a company with a $100 million turnover

 

The Process is Error-Prone and Expensive

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Cost Prone to manual errors and requires a large workforce.

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Risk Variances between parties and errors in Financial statements.

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Process Large volumes and high cycle time. Lack of standardization.

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Compliance Regulatory changes changing reconciliations requirements and late error detection.



TAO’s AutoReconTM Solution delivers a quantum uplift in process performance for account reconciliations. Error rates are reduced to marginal levels and risk and compliance are significantly improved.


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TAO AutoReconTM delivers accelerated benefits while transforming the entire reconciliation process

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Timely period closing of accounting books

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Eliminate errors in the current process

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Redeploy workforce to other tasks

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Increase compliance

 

TAO AutoReconTM works across all types of account reconciliations

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Intercompany reconciliation

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Vendor statements and payments reconciliation

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Customer statement reconciliation

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Bank statement reconciliation

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GL Balance sheet reconciliation

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Statement of Accounts reconciliation

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Fixed Assets Records reconciliation

 

It is highly customizable and reusable, enabling you to rapidly deploy and run the bot enabled process. You can start realizing the benefits as early as four weeks from full deployment.

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TAO AutoReconTM in Action

 

A GLOBAL INSURANCE COMPANY: AUTOMATING COLLECTIONS RECONCILIATION

View the full case study