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Which financial processes can be automated with AI?

Comprehensive financial automation spans accounts payable through strategic planning. Accounts payable automation includes: invoice receipt and data extraction (from emails, PDFs, images), three-way matching verification, approval routing based on rules and spending patterns, duplicate detection, payment scheduling optimizing discounts and cash flow, and vendor master maintenance (identifying duplicates, updating information). Accounts receivable processes amenable to AI: invoice generation and delivery, payment application (matching payments to invoices automatically), collections prioritization (focusing on high-value, high-probability accounts), dispute prediction and resolution, and credit risk assessment informing payment terms. General ledger and close processes: transaction categorization and coding, journal entry creation, intercompany reconciliations, account reconciliations, variance analysis with automated commentary, and financial statement generation. Expense management automation covers: receipt capture and OCR, policy compliance checking, duplicate detection, approval workflows, and reimbursement processing. Treasury and cash management: cash position forecasting, liquidity management, payment optimization, bank reconciliation, and FX exposure management. Financial planning and analysis: budget vs. actual variance analysis, rolling forecasts, scenario modeling, and management report generation with narrative insights. Regulatory and compliance: tax classification, SOX controls testing, regulatory report preparation, and audit documentation. Payroll processes including time tracking validation, pay calculation, and regulatory filing preparation. The common thread: repetitive, rules-based processes with high transaction volumes benefit most, typically achieving 70-90% automation rates while routing exceptions to humans for judgment.