A user-friendly and easy-to-use product that adapts to a changing world.
With low cost of use and no entry cost, the DaMap automatic reconciliation system is of great interest to SMEs, a key sector in the country’s economy. This type of tool helps to increase efficiency and allows them to focus their efforts on the most important tasks of their activity.
Reconciliation is a task that many companies do not perform completely due to lack of time or resources, but this information is essential to ensure that the company is not making losses due to incorrect management of payments and collections.
The DaMap platform allows companies to have the result of any reconciliation process immediately and online. This is really important to correct deviations at the moment the problem occurs without time delay, thus increasing the efficiency of the whole financial control process.
The success factor of SMEs is undoubtedly boosted by the digitalization of the different areas of the companies. They usually start the changes by focusing on improving the organization and information processes, especially when these are repetitive. When a company has little structure, process robotization is a great ally by reducing the time spent on such tasks. Those who have ever performed a financial or bank reconciliation manually, using an Excel spreadsheet or a printed spreadsheet, know how error-prone and time-consuming the method is. RPA saves time and efficiency by avoiding or discovering errors that are often overlooked in manual processes.
DaMap’s functionalities include the ability to perform simple and complex reconciliations regardless of the volume of transactions. In addition, it allows integrating different formats, managing information in easy-to-read reports and helps to recognize differences in the company’s operations. For example, differences that may arise between sales and revenues, between stock on hand and outgoing, or those related to production. The tool allows receiving information directly from e-mails and recognizes text in transactions to link them. This functionality is extremely useful for those who need to manage and perform different types of reconciliation files.
Although RPA has been on everyone’s lips for some time, there is now a clear trend towards this type of technology that exponentially increases productivity.
Putting RPA systems into practice is not a simple task, but DaMap with its “DaMap Cloud” cloud implementation model allows a company to quickly and automatically reconcile in a short time, allowing SMEs to make the digital leap in a simple and secure way.
Working in the cloud is a great advantage for those who work remotely and the possibility of always having access to updated information is a plus. For example, doing a financial close today is a big challenge for many companies and DaMap’s answer to that challenge was to incorporate shared and multi-user functionality. This means that a team can work on the same data and have the information accessible online from anywhere. This avoids duplication of files and the exchange of many emails.
Choosing the cloud mode of use does not require the company’s own equipment or servers and allows it to be always up to date. In other words, the investment in hardware, installation and maintenance of the infrastructure is reduced. This is very attractive for small and medium-sized companies, especially because it involves low risk and a significant reduction in fixed costs.
The robotization of processes, especially reconciliations, may bring an initial “resistance to change” but once companies and employees try the system it is only possible to find positive aspects. DaMap is a product that gives the possibility to access reliable information with the advantage of ultra-fast intelligence.
Another aspect to consider is the gain for companies in terms of information security. It is common to hear of small and medium-sized companies that lose information “overnight” due to theft, equipment breakage or a cyber attack. Hiring a product with strong security is a great advantage against such threats. In addition, the tool records all actions and processes executed by users in the system. In other words, it provides traceability and collaborates with the audit.
DaMap is a company that grows with its clients, and with the solutions provided to all the needs of conciliation that they raise. These developments streamline and improve the entire system thanks to the incorporation of Machine Learning and Big Data technology. They simplify processes and adapt them to the size of the company to provide easy, fast and low-cost maintenance solutions that are key to this global context.
