Webinar Replay: Unlocking the Future of Finance: Auditoria's Latest Features and Innovations

AR RemittancesSo you couldn't attend Auditoria's "What's New" webinar? We have you covered! Read on for a webinar summary, or click below to view the replay.

As a leading innovator in automating Office of the CFO (oCFO) processes, Auditoria.AI continues redefining the landscape of financial operations.

Recently, we hosted a webinar showcasing the exciting new features and functionality of Auditoria. The session provided an in-depth look at new products integrated into our platform and the latest enhancements designed to streamline workflows, boost efficiency, and deliver unprecedented analytical insights.

Latest Technology Features from Auditoria

Large Language Models and Finance Use CasesLarge Language Models (LLMs)

Auditoria's technology leverages Large Language Models (LLMs), a sophisticated class of deep learning architecture known as transformer networks. The transformer model is a neural network that excels at learning context and meaning by tracking relationships in sequential data.

LLMs are trained on internet-scale databases, incorporating hundreds of billions of parameters to generate highly nuanced and contextually aware responses. When a prompt is input into an LLM, the transformer model utilizes its neural network to perform a variety of tasks, including content generation, summarization, translation, classification, and functioning as chatbots.

Auditoria - Enterprise Scale and Choice

For finance teams using Auditoria, LLMs have the ability to generate email responses, summarize content in shared inboxes, read invoices in multiple languages, classify customers into segments, and allow users to interact seamlessly with SmartBots. 

However, despite their advanced capabilities, LLMs require significant computational resources and energy, which limits their use by smaller companies. Additionally, there is a risk of algorithmic bias, which leads to "hallucinations" or incorrect responses that do not make sense based on the input prompt.

Small Language Models - Domain-Specific Data

Small Language Models (SLMs)

In response to LLMs' limitations, organizations are turning to Specialized Language Models (SLMs), also called Small Language Models. Built on domain-specific data, SLMs unlock new opportunities for enterprises to enhance their operations more efficiently and quickly than general-purpose LLMs.

SLMs feature fewer parameters than LLMs, which translates to several benefits. They require less memory and are less expensive to train and deploy, making them more accessible to a broader range of businesses. SLMs also process text more quickly and run locally on devices, providing enhanced privacy—an essential feature for sensitive financial information.

For Auditoria, SLMs are trained on massive data sets and integrate seamlessly with customer knowledge bases to capture specific content. The specialized nature of SLMs ensures that they meet the unique demands of finance operations, offering a powerful complement to the broader capabilities of LLMs.

AR Remittances

Introducing AR Remittances

The introduction of Auditoria’s new AR Remittances is designed to streamline processes and optimize operations using advanced AI-enabled SmartBots. 

This function automates the extraction and processing of data from AR document remittances, eliminating the tedious and error-prone manual tasks that finance teams have traditionally faced. The result is a more agile, responsive, and data-driven finance office.

Some of the key features of AR Remittances include:

Remittance Validation and Classification

SmartBots read and classify documents in email attachments, identifying remittance documents and validating customer matches. This process creates a payment record that includes AR remittance details, enabling AR teams to process greater volumes of remittances more quickly and accurately.

Human-In-The-Loop Collaborative Mode

The collaborative mode allows AR teams to direct how SmartBots handle remittance digitization workflows, fine-tuning data processing and stakeholder communication. 

AR Remittance Architecture Diagram

Reconciliation and Cash Performance

Automating the extraction and processing of remittance documents significantly reduces manual data entry errors, enhances operational efficiency, and accelerates the reconciliation process, speeding up cash flow.

Payment Record Creation

Validated remittance data is formatted according to the target system's requirements, and a payment record is created for user review and approval before being written back to the system of record.

AR Remittances Screenshots

With AR Remittances, finance and accounting teams will be able to increase the accuracy of data extraction, the efficiency of processing large volumes of remittances, and the visibility into cash position, while also reducing risks of errors or omissions in the oCFO.

Auditoria’s New Helpdesk Functionalities 

During the webinar, we also unveiled our new Helpdesk functionalities, designed to enhance team collaboration, streamline task distribution, and optimize AI-human interactions. These features empower users to create and manage teams effectively, automate task assignments, and engage collaboratively with AI-driven processes, driving efficiency and accuracy in finance operations. 

Discover the benefits of this new functionality in our platform:

Helpdesk Team Creation

Helpdesk Team Creation

One of the standout additions to our helpdesk module is the Team Creation feature. This functionality allows users to form teams and assign team members to specific group actions, facilitating better organization and task management. 

From the administration tab, users have the ability to create teams by selecting a manager and adding members from the list of available users. Each team member inherits roles-based permissions, ensuring clear and consistent task assignments. Tasks are distributed in a Round-Robin format, balancing the workload equally among team members. 

Helpdesk Team Creation Screenshots

The "Open Tasks" feature provides a real-time overview of the number of open and unresolved tasks for each Auditoria module assigned to team members. This innovation unblocks team-level Round-Robin distribution and task handling metrics, allowing customers to group users as needed for effective task distribution and reporting.

Task Distribution

Automatic Task Distribution

Building on the Team Creation feature, Automatic Task Distribution further streamlines helpdesk operations. 

Once teams are established, users create policies that govern how tasks are distributed among team members. This involves selecting the applicable Auditoria module and defining the conditions under which tasks are assigned. Users specify input attributes, map to data in the system of record, and use operators to allow multiple values to be selected. The setup includes a description for each rule, detailing the “When” condition and the “Then” action. 

Automatic Task Distribution Screenshots

Tasks are then assigned to specific users or teams, with priority values added as needed. The “Filter” feature enables users to find and view policies by various criteria, while audit logs provide transparency into changes made to rules or policies. 

Collaborative Mode

Additionally, our new Collaborative Mode brings advanced AI training at the user level, embedding powerful technology directly into the Auditoria interface. This mode allows human operators to review and adjust the actions of SmartBots.

Collaborative Mode Screenshots

Users reset or add to the actions, training the SmartBots to handle specific requests with greater precision. The task detail field populates task details, including Gen-AI sources and metadata extracted from emails. Users then click to see the ID, record name, and current status and add more intents, if necessary, to guide the AI. Once the user approves, emails are sent, and the status is updated accordingly. 

This granular tuning of AI tasks provides unprecedented flexibility and visibility into the SmartBots’ performance, improving the accuracy and completeness of responses, increasing productivity, and accelerating the adoption of full-automation modes. Collaborative Mode also mitigates risks and reduces the downstream impact of incorrect or missed items, building trust in the AI’s decision-making process.

Human-in-the-Loop Technology

What’s Next for Auditoria?

We've just introduced a host of new functions and features that significantly enhance Auditoria.AI's capabilities. 

However, this is just the beginning of what Auditoria has in store for the future!

As we look ahead, Auditoria is committed to continually enhancing our platform to meet the evolving needs of corporate finance operations. Our roadmap includes exciting developments, particularly in the areas of AP Helpdesk, Reporting, and Analytics. These advancements are designed to further streamline processes, provide deeper insights, and enhance user experience.

Stay tuned as we continue to push the boundaries of what’s possible and provide you with the tools to excel in the dynamic world of corporate finance.

Click here to explore these advancements and watch a demonstration of how they transform financial strategies.