INTELLIGENT PROCESSES
Automation - the cornerstone of financial management
Fitek automates your Accounts Receivable and Accounts Payable processes, as well as the exchange of trade documents. Less manual work, fewer errors, enhanced security, and full visibility.
Accounts Payable
Supply Chain
ACCOUNTS RECEIVABLE PROCESS
Accounts receivable automation
We automate your company’s Accounts Receivable process from order-to-cash, eliminating manual work in data entry, document creation, invoice delivery and verification.
Invoices are generated automatically based on data from source system such as CRM, e-commerce platforms or contracts. The system then automatically sends out invoices that comply with defined rules and standards, without human intervention.
Thanks to bank integrations and automated payment reminders, payments reach your account faster and receivables can be monitored in real time.
WHAT YOU GAIN
No manual data entry
Invoices are generated automatically.
Error-free invoice delivery
The system automatically sends invoices out.
Accelerated cash flow
Payments reach your account faster and receivables can be monitored in real time.
ACCOUNTS PAYABLE PROCESS
Accounts Payable automation
The popular Fitek platform offers comprehensive capabilities for automating your Accounts Payable process. We eliminate the need for accountants to enter data, code invoices and route them for approval, and automatically transfer the accounting entries to the accounting system – no duplicate data entry or other manual work. Faster workflows, fewer errors.
Automatic data extraction
Using OCR and AI, Fitek extracts all the information needed for accurate accounting from invoices and receipts: supplier details, invoice dates, invoice lines, amounts and VAT.
Smart GL coding and automated rules
Based on your company’s previous activities or specifically configured rules (e.g. supplier, project name, contact person, etc.), the system automatically applies general ledger account codes, cost centres and VAT codes.
Automatic allocation and consolidation of invoice lines
Fitek processes complex invoices independently, automatically allocating the total cost across different departments or consolidating an invoice with multiple cost lines into a single clear accounting entry in the accounting software.
Automatic supplier creation and background checks
Fitek automatically adds new suppliers to the system when an invoice is imported. In addition, accountants no longer need to spend time checking suppliers in official registers – we handle it automatically.
Automatic bank account verification
We compare the bank accounts stated on invoices with the bank account details stored on the supplier record, previous invoices from the same supplier and all other bank accounts in the Fitek database.
Automatic prevention of erroneous payments
If a duplicate invoice enters the system or an imported invoice is incorrect, AI does not blindly apply the rules but instead displays a warning to the accountant.
Frictionless approval workflows
Fitek routes documents to designated approvers automatically. Automated email and mobile app notifications and reminders keep the approval cycle fast and seamless.
Automated PO matching
Elevates spend management—expenses are pre-approved before the purchase. Fitek automatically matches an incoming invoice with a previously approved purchase order when the purchase order number, supplier and total amount match.
Connected to your accounting software
Approved and processed data is automatically transferred to your accounting or business software, ensuring 100% reconciliation with source documents.
SUPPLY CHAIN AUTOMATION
Fully automated exchange of trade documents
Fitek’s EDI solution connects your company’s and business partners’ business software into a single digital information channel – fully automating your trade document processes.
Direct document exchange
Orders, delivery instructions, delivery notes, invoices, credit notes and other documents move securely, digitally and in real time directly from your software to your business partner’s software.
Uncompromised data accuracy
Automated data transfer and automatic cross-checking of different documents ensure that information always reaches your partner without errors.
Automatic data conversion
Automatic conversion of product codes, delivery locations, packaging codes and units ensures that data is always in the format required by both parties.
A seamless, fast-moving supply chain
Eliminating manual work makes the process significantly faster. Duplicate orders caused by human error are prevented, and no important document gets lost along the way.
WHAT IT MEANS FOR YOU
A win for every role.
FOR THE CFO
Total, real-time visibility into cash flows. Confidence that processes are agile, cost-efficient and protected against fraud.
FOR THE ACCOUNTANT
Freedom from routine data entry and the manual detection of errors and fraud. More time for meaningful work that creates real value.
FOR IT / COMPLIANCE
Fitek's secure and reliable solutions integrate quickly with your company’s existing software, without complex development projects.
SEAMLESS, FAST, AND FLAWLESS PROCESSES WITH OUR ERP INTEGRATIONS
