The context

Over half a million companies in the Benelux run their administrations on Exact software, making them one of the major players on the Dutch accounting market. Exact serve the SME market with its cloud-based Exact Online solution.


Although that solution is a very comprehensive tool, it still has its limitations. Technically, but more so on adapting to business processes, especially when those processes require the use of external sources.


With our RPA tool Yarado, we have automated processes to solve challenges that we come across with clients. We like to share some of them that make life easier and contribute dramatically to providing critical insights on how a business performs.

The Challenge

Reporting (on Cash Flow and position)

Cash is king, now more than ever. Exact Online shows you the balance on each bank account, including the total balance across the companies bank accounts.

But what if you work with multiple entities and therefore multiple administrations?

Moreover, wouldn't it be great if you get those insights pushed to a dashboard in your Teams?

Solution

Reporting (on Cash Flow and position)

We have created a process that starts with gathering updated bank balances of each bank account of all entities involved overnight.

Then, those numbers are automatically processed and consolidated per entity. This newly created source synchronises to a central dashboard allowing a full realtime overview of the group cash flow and cash position, with the option to drill down to each bank account within the group.

And the best of all is that relevant team members get a direct notification with this info when it has been processed.

The implementation of this solution took just a couple of hours starting from scratch, including mapping the process.

The Challenge

Managing costs
(providing insights including credit card spending)


Credit cards are used more and more, mostly due to increasing subscription services. For a typical modern professional services firm, credit card spend adds up to about twenty per cent of total spending.

Often, credit card statements are provided and processed once a month, preventing proper steering on costs based on timely insights.

Plus, each time it requires repetitive manual work from your accountant or finance department.


Solution

Managing costs
(providing insights including credit card spending)

To allow for up to date processing of all costs, including credit card expenses, we created a task that logs in to the credit card portal to download the latest transactions overnight.

Transactions are checked against transactions that have already been booked, and new transactions are booked to the corresponding ledger account.

Instead of having to wait for the credit card provider to send you a monthly statement, or have your accountant or finance department login to various portals every day, this automated process provides you with up to date insights on all your costs, every day

The Challenge

Mitigating Risks
(by anticipating on exchange rate fluctuations)


When working internationally, foreign exchange rates are always something to keep an eye on. They can substantially impact business results, especially when payment terms are relatively long and encompass critical events.

Think of COVID-19 outbreaks, Brexit or major political elections, to name a few. Causing payment differences between accounts receivables and actual payments, and have a material impact on business results.


Solution

Mitigating Risks
(by anticipating on exchange rate fluctuations)


Although the actual difference caused by exchange rate fluctuations can't be solved, it dramatically helps to report daily on what the difference would be, based on the current exchange rate and how that impacts business results. Making sure you are always informed and able to anticipate as soon as possible.

With Yarado, we have created a process that automatically does just that. It gathers relevant exchange rates overnight which are updated and processed in Exact, and reported in Microsoft Teams or a central dashboard for example. Including the impact on outstanding accounts receivables if you like.

”Automating processes with Yarado allows us to be much more in control of our company performance.”

24/7
Insights

accurate and timely insights, delivered when you want it

Endless
Opportunities

source and process data without software connectors

Less than
4 hours

From process flow to implementation

Next Steps

As a result of the effective robotisation of the migration process with Yarado, Fondsenbeheer now wants to automate its monitoring and user-testing processes by simulating the users of its internal and external web applications, as well as further automating the manual input processes running within its organisation.




This will allow Fondsenbeheer to take further control of its processes and systems, while improving the customer service experience.