Apart from offering a cloud accounting solution, we also provide document processing service to our partners, such as accounting firms and audit firms. We have an office based in Kuala Lumpur (Puchong) and Johor Bahru to serve our customers and partners within the states. Our technology has enabled document processing with artificial intelligence for our partner that requires to process document in significant numbers. We divide our solutions into three areas: technology, process, and people.
The Right Technology
We do understand well that the most common effort spent is mostly related to data entry or data processing. There are many raw data or documents that need to process within a short time, and it contains a high risk of errors. So this activity is mostly consuming most of the time and effort based on our survey and market research. One month period, commonly, 76% of the time will be spending on processing data (gathering, processing, or filing). The high-value activity, such as producing financial reports takes only 18% of the time. (See this article on how we are selected as one of AI representative)
We dig deeper, which makes the first part takes lots of time. It falls under common two reasons. First, using a spreadsheet (excel) for recording data. The second will be checking each document to ensure the amount are accurate. Do these two things also happen in your accounting or audit firms too? It is not surprising that most accounting firm having a hard time to scale their business. Scaling means the need to hire more people and to get more office spaces. This process may cause the company to falls into an inflexibility situation with overhead risks.
Workspez is adopting artificial intelligence on document processing solutions to maximize time on document processing and reducing errors and inefficiency. We have our data team that works efficiently processing large amounts of data in a short time. The processed data from our solution can import to majority accounting solutions in Malaysia. This sole reason is why our document processing with artificial intelligence favorable to our customers and partners.
The Right Process
We understand that each partner has different needs, so our process enables our partners to have more options and value-added activity for each process chain. Be it in the document gathering, processing, filling, producing digital data, or up to preliminary reports. If you have unique requirements or needs, our technology consultants will be ready to assist. Perhaps you have some unique ways of doing business. Our process can cater to that as well.
The Right People
This element may be the hardest element among all. Yes, to get the right people always constant challenges in mostly everywhere. Workspez spends significant efforts on training our consultants to be up-to-date with any financial and accounting changes, familiar with technology, as well as providing excellent service.
Document Processing with Artificial Intelligence
We always strive to give our partner top service and to help them scale to a higher level. Typical benefits that our partners enjoy are flexibility to scale up and down, and increase service quality to their customers. Few of our partner success story, they can gain 60% more customers with their current resources.