Yes, no-code solutions let you build your own rules—but that still puts the burden on your finance team to design and test every control.
In contrast, a REIT-ready solution like JIFFY.ai comes pre-configured with:
Industry-specific compliance logic
Built-in audit templates for JV and property rollups
Automated logs for reconciliation exceptions
Scalable approval chains and validations that grow with your portfolio
“JIFFY.ai took our audit prep from weeks to hours. Every document, approval, and anomaly are traceable. Auditors actually thanked us for being organized.”
— Director of Finance, Commercial REIT
Final Word: Compliance Isn’t a Checkbox—It’s a Foundation
In today’s real estate climate, being audit-ready isn’t a luxury—it’s a necessity. REIT finance teams must move from reactive, manual compliance to embedded, intelligent controls that ensure transparency and speed.
With intelligent automation, your REIT finance team can:
Be audit-ready every day—not just year-end
Mitigate regulatory risk with confidence
Eliminate scrambling and documentation gaps
Scale compliance as your portfolio grows
Curious how leading REITs are automating compliance and audit readiness?
When it comes to monthly or quarterly reporting, Real Estate Investment Trusts (REIT) face challenges that generic tools aren’t designed to handle—like Journal Voucher (JV) ownership splits, CAM reconciliations, multi-entity consolidations, and property-level reporting granularity. That’s why REIT finance teams shouldn’t have to reinvent the wheel with custom development or configure every detail from scratch, even in no-code platforms.
What a Ready-to-Use REIT Automation Platform Delivers
Prebuilt Reporting Templates for REIT-Specific Needs From property-level P&Ls to consolidated financials, CAM recovery breakdowns, and investor decks—expect plug-and-play formats tailored to REIT workflows.
Automatic Mapping Across Systems Eliminates manual mapping between lease schedules, rent rolls, and GL data. The system reconciles data from ERPs, lease management tools, and operational systems without human intervention.
Embedded Logic for JV and Ownership Splits Handles complex ownership structures and distributions with embedded calculation rules that reflect how your JV partnerships operate.
Built-In Exception Handling & Reconciliation Easily identifies outliers, exceptions, or missing data—before reports are finalized—reducing close errors and delays.
Audit-Ready and Regulator-Compliant Output Whether it’s NAREIT standards or SEC filings, the system supports audit trails, version control, and standardized formats out of the box.
Real-Time Dashboards for Internal and External Stakeholders Role-based access for CFOs, controllers, property managers, and JV partners—delivering the right insights to the right people instantly.
Why Not Just Use No-Code or Build Custom Tools?
While generic no-code platforms offer flexibility, they come with hidden costs:
You’re Still Doing the Thinking: You’ll need to model, test, and QA each workflow—taking time away from strategic work.
Maintenance Burden: Any change in reporting logic, JV structure, or compliance rules requires rework—and sometimes, additional dev help.
Longer Time-to-Value: Custom builds or no-code setups often take months to implement and stabilize, especially with REIT-specific logic.
Instead, a purpose-built REIT close automation solution built on a no-code platform such as JIFFY.ai delivers 80-90% of your reporting needs on Day 1—letting your team fine-tune instead of firefight.
“With JIFFY.ai, we didn’t need a six-month configuration cycle. CAM allocation, JV rollups, NOI reporting—everything was ready for our REIT stack out of the box.”
— Senior Controller, Mixed-Asset REIT
Final Word: REIT Reporting Shouldn’t Slow You Down
The right reporting automation platform is more than just a tool—it’s a strategic advantage. By choosing a solution purpose-built for REITs, finance teams can reduce reporting time, ensure accuracy, and meet every stakeholder’s needs—without the chaos of spreadsheets or the risk of hand-coded workarounds.
Looking to modernize your REIT close process? Let’s show you what end-to-end reporting automation looks like.
For Real Estate Investment Trusts (REITs), the month-end financial close isn’t just a deadline—it’s a pressure cooker. And Reconciliation is among its most time-intensive components. From matching rent payments and bank transactions to tracking expenses and revenue across dozens—or hundreds—of properties, the complexity is real. And it’s growing.
The finance teams of REITs face unique operational reporting demands, from CAM recoveries to lease-level reconciliations, all while juggling joint venture (JV) structures and scattered data sources. In this environment, traditional reconciliation methods fall short—slowing down close cycles and leaving finance teams vulnerable to risk.
Proof from the Frontlines: What Leading REITs Are Saying
“Before automation, our reconciliation was a nightmare. With hundreds of properties and thousands of tenant payments, manual matching just wasn’t scalable. Now we’re closing 4 days faster and with 10x more confidence.”
— VP Finance, Large US-based REIT
The Real Cost of Manual Reconciliation in REITs
Despite digital advancements, a large percentage of REITs still rely on spreadsheets, email chains, and siloed systems for reconciliation. According to Deloitte’s CFO Signals Survey, 52% of finance leaders cited “data integrity issues” and “lack of automation” as primary causes for delays and inaccuracies in the close process.
In REITs, this reality is compounded by scale. With high transaction volumes, complex ownership splits, and disparate property management systems, even small errors can ripple into major financial misstatements. Many REIT finance teams report spending 30%–40% of the total close cycle on reconciliation alone—and often still lack confidence in the final numbers.
Key Reconciliation Pain Points for REIT Finance Teams
A recent JIFFY.ai survey of REIT finance professionals highlighted recurring bottlenecks:
Discrepancy resolution between ERP entries and lease abstracts
Tracking aged reconciling items with minimal visibility
Generating audit-ready support across fragmented tools and teams
Add in the pressure of quarterly investor reporting and regulatory filings, and it’s clear why many REITs struggle to close the books quickly and confidently.
Proof from the Frontlines: What Leading REITs Are Saying
“Automated exception handling has been a game-changer. We now identify aged items within hours, not weeks.”
— Director, Financial Operations, Commercial REIT
Why AI-Powered Reconciliation is a Game Changer
Enter AI-powered intelligent automation. Platforms like JIFFY.ai enable REIT finance teams to leverage solutions built on cognitive technologies such as AI and Machine Learning to automate, streamline and transform reconciliation from a bottleneck into a competitive advantage:
Automated transaction matching with built-in business rules and pattern recognition
Exception-based workflows that surface anomalies in real time
Audit-ready trails and documentation with zero manual prep
End-to-end visibility across ERP, lease systems, and bank feeds
This paradigm shift allows REITs to focus on strategic decision-making instead of firefighting reconciliation backlogs.
Proof from the Frontlines: What Leading REITs Are Saying
“The ability to reconcile tenant-level income, CAM charges, and lease incentives without spreadsheet gymnastics has elevated our reporting credibility—internally and with our investors.”
— Controller, REIT with Multi-state Holdings
The Competitive Urgency to Modernize
With REITs under increasing pressure to deliver timely, investor-ready financials and navigate complex JV partnerships, automation is no longer optional. Industry benchmarks now show top-performing REITs are shortening their close cycles by 5+ days through AI-powered automation—freeing up finance teams to focus on analytics, forecasting, and strategic value creation.
And it’s not just about speed. It’s about trust, transparency, and compliance. The ability to confidently stand behind your numbers—without reconciliation fatigue—is what distinguishes agile REITs in today’s market.
Break the Bottleneck, Reimagine Your Close
Manual reconciliation is holding back your close—and your team. With AI-powered intelligent automation solutions, you can achieve faster close, lower error rates, and deeper financial insight. It’s time to move from reactive reporting to proactive financial control.
Want to see how leading REITs are using AI solutions to modernize their reconciliation process?
In real estate, time is money—and accuracy is everything.
For Real Estate Investment Trust (REIT) finance teams, the month-end close isn’t just a routine deadline. It’s a high-stakes process involving truthful reporting across complex journal voucher (JV) structures, strict compliance demands, audit preparedness, and delivering actionable insights for the leadership to make capital allocation decisions.
But when systems are fragmented, processes are manual, and close cycles unpredictable, even the most skilled finance teams face burnout and risk errors that can ripple across the business.
This is why end-to-end (E2E) close automation, powered by Artificial Intelligence (AI), is no longer optional—it’s critical. It not only accelerates the close but delivers measurable financial, operational, strategic, and human benefits. Here’s how:
1. Financial Benefits
AI-powered E2E close automation directly bolsters the financial health of REITs.
Cost Reduction
According to APQC, organizations with best-in-class close processes spend 66% less per $1,000 of revenue on financial reporting than their peers. AI-driven automation eliminates spreadsheet chaos, reduces costly manual rework, and intelligently identifies recurring tasks and anomalies, minimizing human error.
Improved Forecasting Accuracy
Deloitte’s REIT research highlights that incomplete or delayed data is a top cause of forecasting errors. AI platforms enable real-time data validation and predictive analytics, providing sharper insights into working capital and lease-level forecasting.
Reduced Audit Penalties and Restatements
The Securities and Exchange Commission (SEC) has sanctioned REITs for weak documentation and internal controls. AI embeds compliance into workflows—enforcing threshold-based approvals, comprehensive audit trails, and role-based segregation of duties (SOD)—significantly reducing audit risks.
“With automation, we’ve cut audit prep time by 50% and significantly reduced late adjustments.”
— VP, Finance, Mid-Market REIT
2. Efficiency Benefits
AI-powered E2E close automation helps streamline complex operations, shorten turnaround times, and scale smarter.
Accelerated Close Timelines
Ventana Research finds only 38% of companies close books within six days. REITs, due to transaction volumes and JV complexity, often take 10–12 days or more. AI-powered E2E automation can reduce close times by 30–50%, delivering faster financial visibility.
No-Code, REIT-Ready AI Platform—No IT Dependency
Unlike custom-built systems requiring IT involvement, AI-driven platforms like JIFFY.ai offer pre-configured REIT logic and no-code configurability. Finance teams can independently create and adjust rules, workflows, and exception handling—no tickets, no IT delays, full control.
Unified Data Across Disconnected Systems
Many REITs juggle multiple ERPs, lease management tools, and spreadsheets. AI-powered E2E platforms create a single source of truth, drastically reducing reconciliation time and errors.
“We used to manually reconcile 8 bank accounts. Now it’s touchless, saving us 20 hours monthly.”
— Director of Accounting, Commercial REIT
3. Strategic Impact
Beyond process improvement, AI-powered E2E close automation unlocks strategic value.
Scalability Without IT Bottlenecks
AI platforms dynamically adapt to portfolio growth and JV complexities, handling complex ownership splits and diverse data without ongoing IT projects.
Faster, More Accurate Board & JV Reporting
AI automates data extraction, consolidation, and validation for key metrics like NOI, CAM recoveries, and capital expenditures—delivering investor-ready reports quickly and accurately.
Better Capital Decisions, Sooner
Real-time AI-driven analytics empower finance leaders with immediate insights, enabling proactive decisions on leasing, asset disposition, and capital allocation.
4. Human Impact
The ultimate benefit of AI-powered E2E close automation? Restoring time and sanity to finance teams.
Work-Life Balance & Burnout Prevention
Manual closes mean late nights and weekend crunches. AI-driven automation brings predictability and sanity back to month-end cycles.
Shift from Admin to Analysis
By automating 30–40% of routine tasks, AI frees finance professionals to focus on strategic insights rather than transactional inputs.
“Month-end used to be a nightmare. Now we wrap early and finally breathe.”
— Controller, Healthcare REIT
What E2E Close Automation Delivers for REITs
Category
Benefit
Industry Benchmark / Insight
Financial
Cost reduction, audit confidence
66% lower cost with top quartile processes (APQC)
Efficiency
Faster close, no IT dependency, touchless reconciliations
30–50% timeline reduction possible
Strategic Impact
Scalable reporting with zero-code effort
Seamless adoption across complex JV/REIT structures
Human Impact
Work-life balance, less burnout
Predictable close cycles = higher retention & morale
Closing Thought
Some tasks don’t need automation. The month-end close does.
For REITs navigating growing complexity, compliance demands, and expanding portfolios, an AI-powered end-to-end close automation platform isn’t a luxury—it’s a necessity.
With a REIT-ready solution, finance teams eliminate IT bottlenecks and start closing better, faster, and smarter.
Reclaim your time. Refocus your energy. And finally—reclaim your weekends.
For Real Estate Investment Trusts (REITs), the monthly or quarterly close isn’t complete until the reports go out—and they go everywhere. From property managers to Journal Voucher (JV) partners, auditors to board members, everyone needs a different slice of the data. The result? A complex web of financial and operational reporting requirements that must be met with precision and speed.
But what does this reporting really entail? And why does it still drain time and resources, despite being a repeatable process?
In this blog, we break down the most common reports REIT CFOs and finance teams generate—and why each is mission-critical.
What Industry Leaders Are Saying
“From board packages to JV summaries, the volume and complexity of reporting in our REIT is immense. Without automation, we’d still be closing on Day 20.”
— VP, Corporate Finance, Diversified REIT
The Most Important Reports in a REIT Close—And What They’re Used For
Property-Level P&L and Balance Sheet
Gives asset managers and executives granular visibility into the financial health of each property—flagging anomalies, identifying ROI shortfalls, and guiding performance improvement.
Consolidated Financials
These are essential for external stakeholders and public disclosures—often required for SEC filings and NAREIT compliance. Roll-ups must be precise and compliant across multiple entities and accounting standards.
JV/Partner Financial Summaries
Joint ventures add another layer of complexity. Reports need to reflect equity splits, ownership terms, and cash distributions, customized to each partner’s view of the data.
Investor or Board Packages
Presentation-ready reporting packs with high-level trends, forecasts, and KPIs. These drive executive discussions, capital planning, and investor confidence.
Rental Income Tracking Reports
Tracks what’s been billed vs. collected, broken down by property and tenant. Delays here can impact cash flow forecasting and investor reporting.
Occupancy/Vacancy Rate Analysis
A crucial operational metric directly tied to asset value and lease-up strategy. Helps asset managers measure leasing success and predict future NOI.
Lease-Level Income & Recoveries (CAM)
CAM reconciliation can become a legal and financial headache if miscalculated. Lease-level tracking ensures every tenant is billed per terms, and cost allocations are auditable.
NOI (Net Operating Income) by Property
A core profitability metric used in asset valuation, refinancing decisions, and internal performance benchmarking.
Tenant Aging & Delinquency Reports
Essential for accounts receivable and collections teams to identify at-risk tenants and prioritize follow-ups.
Capex & Tenant Improvements (TIs) Tracking
Used to control development budgets and support lease negotiations. Accurate TI reporting can impact tenant satisfaction and lease economics.
Intercompany & Related-Party Reporting
Ensures regulatory compliance and financial transparency, especially for complex REIT structures involving multiple entities.
Regulatory Filings (e.g., SEC, NAREIT)
Required public filings with stringent timelines and formatting guidelines—accuracy is non-negotiable.
What Industry Leaders Are Saying
“What used to be a last-minute scramble is now a structured process with real-time data views. Investors notice the difference.”
— CFO, Industrial REIT
The Challenges Behind the Reports
While these reports are business-critical, creating them is anything but smooth. Most REITs still rely on spreadsheet-driven workflows that are highly manual and error-prone.
In a recent Deloitte survey, over 50% of finance leaders reported that data fragmentation and lack of automation were the biggest contributors to delays in reporting accuracy and timeliness.
Here’s what slows REIT reporting down:
Data scattered across ERPs, rent rolls, lease systems, and spreadsheets
Manual mapping of lease data to GL structures for accurate reporting
Inconsistent updates from property managers or partners, which delay key data inputs
Complex ownership structures and JV arrangements that don’t fit standard reporting models
Poor integration between operational KPIs and financial metrics
Time-consuming reconciliation efforts between source data and final statements
Difficulty producing audit-ready investor reports on tight timelines
Inconsistent data formats and naming conventions, creating rework each cycle
High risk of errors in CAM recovery allocations
Limited visibility into exceptions or discrepancies until it’s too late
What Industry Leaders Are Saying
“Data used to come in from five systems and ten property managers—none of it standardized. Now we’ve reduced our reporting time by 60% and trust the numbers we present.”
— Director of Financial Reporting, Commercial REIT
Why REITs Are Turning to Reporting Automation
Modern REIT finance leaders are shifting away from reactive reporting toward AI-driven automation solutions that offer:
✅ Centralized data consolidation across ERPs, rent rolls, lease admin, and GLs
📊 Pre-built REIT report templates for P&L, CAM, JV summaries, and more
🔍 Real-time exception tracking and alerts to catch anomalies early
🧠 AI-powered mapping and validation to eliminate manual reconciliations
📁 Audit-ready documentation and investor formats—done in hours, not days
With an AI-powered reconciliation solution like JIFFY.ai, REITs can transform their end-to-end close process—delivering reporting that’s faster, more accurate, and more insightful.
In Summary: Reporting Should Be a Strategic Asset—Not a Bottleneck
CFOs need reporting to do more than check a compliance box. They need it to drive decisions, build investor trust, and highlight opportunities across the portfolio.
But if you’re still relying on spreadsheets and email threads, you’re at risk of delivering late, inaccurate, or non-compliant outputs.
It’s time to adopt AI-powered automation that’s built for REIT financial reporting—and finally close with confidence.
Curious what smarter reporting could look like for your REIT?
For many Real Estate Investment Trust (REIT) finance teams, closing the books isn’t just a deadline—it’s a recurring challenge. With complex ownership structures, multi-entity consolidations, and high-volume journal vouchers (JVs), the end-to-end periodic close often feels like a maze of manual tasks, version control headaches, and last-minute surprises.
At the centre of these challenges are journal entries—the linchpin of every financial close. Whether it’s recurring accruals, reclassifications, or one-time adjusting entries, journals are both high-impact and high-friction. Despite their importance, journal entries are often the slowest-moving piece in the close puzzle.
The Journal Bottleneck Is Real
Based on industry observations, journal entry bottlenecks are a major contributor to close delays. Common challenges include:
Manual Overload: High-volume recurring entries like lease income, common area maintenance (CAM) recoveries, or interest accruals still require significant manual effort. Each manual touchpoint increases the risk of errors and slows down processing.
Spreadsheet Chaos: Relying on disconnected spreadsheets makes it nearly impossible to track statuses, approvals, or history in real time, leading to missed steps and duplicate entries.
No Standardized Workflows: Inconsistent JV formats, varying approvers, and ad hoc processes mean time is lost clarifying responsibilities instead of progressing toward close.
ERP Friction: Manual ERP posting isn’t just tedious—it delays downstream processes and makes real-time reporting nearly impossible.
Email Bottlenecks: Email-based approvals are a black hole. JVs get stuck in inboxes, approvals are delayed, and there’s no audit trail—just a mess of threads.
No Visibility or Oversight: Without dashboards or alerts, there’s no way to track which entries are pending, rejected, or approved, leading to missed deadlines or duplicate effort.
In a REIT environment—where JV complexity, lease-level income, and cross-entity reporting are the norm—these bottlenecks multiply fast.
Why It Hurts the REIT Close
For REITs, the impact of journal entry delays goes beyond inconvenience. When JVs are stuck in limbo, it:
Stalls downstream reconciliations, consolidations, and board reporting.
Increases the chance of missed or incorrect partner allocations.
Leaves the business exposed to compliance risks and audit findings.
Saps the finance team’s time, pulling focus from higher-value strategic work.
Manual journal entry processes also introduce unnecessary cycle-time volatility—the close timeline swings wildly based on effort, not execution.
The AI-powered Automation Advantage: Reimagine Journal Management
REITs that are embracing close automation powered by artificial intelligence (AI) are seeing transformative results in their journal processes. With an AI-driven journal management solution, you can:
Achieve up to 90% straight-through processing for recurring and rule-based journals.
Eliminate spreadsheets with centralized, standardized templates and workflows.
Route entries via automated, threshold-based approvals—no more inbox chasing.
Post directly to the ERP from one system, with full audit trail and control.
Track all entries—submitted, pending, rejected—in one dashboard.
Because automation surfaces issues early, you also reduce review effort and build confidence in your numbers from day one.
From Bottlenecks to Breakthroughs
At JIFFY.ai, we believe the journal entry process shouldn’t hold you back—it should push you forward. Whether you’re managing 100 properties or scaling across portfolios, the ability to automate journal creation, validation, routing, and posting unlocks new levels of speed and accuracy.
In fact, global REITs using our AI-powered Journal Management solution have cut multiple days off their monthly close process by streamlining journal entry workflows. It’s not just automation for efficiency—it’s transformation for scale.
Ready to Break Free?
If you’re tired of firefighting through the close or struggling with JV approvals at the eleventh hour, let’s talk. We’ll show you how leading REITs are automating their journal process—and reclaiming control of their close with the power of AI.
Break the bottlenecks. Automate with confidence. Accelerate your REIT close.
There are two sides to the conversation around enterprise process automation. On the one hand, there is incredible hype surrounding Robotic Process Automation (RPA) and Artificial Intelligence-enabled intelligent automation, with investments expected to cross $12.6 billion by 2023. On the other hand, between 30% and 50% of technology projects fail — not due to flaws in the solution, but due to poor management.
If you have been struggling to unlock the expected value from your investments, or if you have been hesitating to embark on that ambitious automation project, but remain convinced that business process automation holds potential for your enterprise, chances are that you might be impacted by these pitfalls or influenced by these prevalent myths.
Myth 1: Automation is too expensive
Companies believe that a “big bang approach” to automation is the best, involving a sizeable capex.
Pitfall: Business leaders rip apart and rebuild processes from scratch using automation scripts, which are non-modular and cannot be reused.
Fact: You don’t need to automate the entire enterprise — or even an entire line of business — at once. A micro-services approach that breaks down process monoliths into manageable and automation-ready parts helps to achieve quick wins and keep costs predictable.
Myth 2: Automation is too risky
Companies suspect that automating business processes will add fresh risk vectors — e.g., APIs and data connectors.
Pitfall: Departments or sectors handling sensitive data are not expected to gain from automation efficiency, and only tasks that add lesser business value (therefore, lesser ROI-friendly) are automated.
Fact: Adopting the right compliance standards and regular audits make business process automation as secure as any other digital transformation project. Specifically, businesses must ensure ISO27001 for industry regulations and SOC2 to fulfill customer expectations, and not keep automation restricted to low-value tasks.
Myth 3: Automation is too large-scale
Business process automation is perceived to be suitable for large enterprises only.
Pitfall: Small and mid-sized businesses stay with manual processes as they believe process automation will take too long to unlock benefits, or that the costs outweigh the gains.
Fact: There is a direct correlation between the success of small and mid-sized businesses and their automation maturity, McKinsey has found. As long as they have low to medium variability tasks that occur frequently, organizations of all sizes can gain from automating business processes.
As you can see, these myths and pitfalls can hold back the true potential of business process automation, even if there is organizational readiness and the requisite digital maturity. In our new eBook titled How to implement intelligent automation for scale and unlock its true potential, we discuss these issues in more detail, and outline recommendations for getting started with enterprise automation and also for keeping the automation engines running without friction for the long term.
Automation-driven autonomy is here and it’s real. Are you ready for it?
We embarked on materializing the concept of an integrated intelligent automation platform for enterprises back in 2019. The journey so far has been nothing short of a thriller. Today we have passed another significant milestone in this amazing journey.
We secured Series B funding from investors including Eight Roads Ventures, Iron Pillar, R-squared, Nexus Venture Partners, Reaction Capital and Rebright Partners. We are using this fund to further advance our intelligent automation platform to the next level.
As the first step, we built the low-code intelligent automation platform and pre-packaged HyperApps that accelerated the business processes of customers from few key verticals. Global leaders in Automotive, Banking, Media, Telecom, and Travel industries have been using HyperApps built on the platform and reaping quick ROI benefits.
AI-driven decision making
Let us imagine that a Financial Advisor is seeking an appropriate product for their client. The automated front-office technology powered by JIFFY.ai uses AI to suggest a product, and enables the Financial Advisor to satisfy the client’s need. All relevant data will be captured and shared with the mid and back-office systems real-time.
Earlier, effecting such changes on the legacy infrastructure would claim six to nine months of large enterprise IT teams, by which time the consumers would start clamoring for fresh product features or service bundles.
Over the last 18 months, we have cut short the window to deliver a custom HyperApp for new business processes. We build it in 3 months even with dynamic changes happening in real-time, and even while the app is in production. So, enterprises can accelerate innovations and go to market quickly, not worrying about infrastructure availability when they have to scale up and down.
Building ‘The Intelligent Mailroom’ with Docupace
We are building the wealth management industry’s most powerful suite of automation solutions; deploying leading-edge capabilities such as intelligent document processing, AI, RPA, ML and advanced analytics to deliver benefits at scale across enterprise operations along with Docupace, the leader in cloud-based fintech digital operations software.
As the first step towards creating this innovative suite of back-office automation applications, we are building the Intelligent Mailroom with Docupace – a point of entry for the majority of all documents processed and data coming into an organization. The first-of-its-kind solution replaces manual indexing and processing with intelligent, comprehensive automation increasing productivity, improving accurate document processing, and reducing operational burden and costs on the overall organization. It also empowers growth-minded firms to refocus valuable resources to more impactful activities.
The way forward
We are incrementally adding value to the integrated automation platform that will soon be the no-code autonomy backbone of choice for enterprises in any industry.
With timely support from investors and partners we have been able to build and test its scalability for large enterprises, including the Fortune Global 500 and the Big4 Consulting firms. The encouraging response from our customers, business users and investors are prompting us to flex our imagination and stretch our innovation further.
Ready to free your enterprise for growth in the future?
The impact of automation is real, and it is no longer a luxury.
Enterprises across industries are moving fast towards an autonomous future in which they aspire to be resilient, scalable, and adaptable. Intelligent business applications that run their processes will be able to learn and adapt to changing situations impacting the business landscape and even mimic human thinking and actions intelligently.
A significant percentage of their operations will be handled by smart software and machines —of course, with human in the loop for guidance and monitoring as circumstances change. Industry analysts and futurists agree that moving ahead in this direction can yield significant benefits such as greater productivity, better customer experiences, and faster growth.
Are you ready to build responsible autonomy into the future of your enterprise?
JIFFY.ai enables enterprises to become autonomous with intelligent automation, and achieve tomorrow’s possibilities today
Change happens. All the time. Faster than you think.
In the future, your organization will be able to sustain and thrive only if it’s ready to adapt on-the-fly.
These changes could be geopolitical, like the pandemic and global recession, or they could be societal, such as a change in consumer attitude.
When the industry undergoes rapid changes, customers and employees expect more contextualized and personalized experiences.
In these demanding circumstances, businesses that are still grappling with complex service and experience challenges invariably lag behind competition.
In a highly competitive, highly regulatory focused and ever-evolving industry like Financial Services, there are several dated, high-touch, manual processes. Manual systems that deliver inconsistent responses slow problem resolution, and hinder service level agreement (SLA) management, tracking, control and governance can pull your business backward.
While gearing up for the future, organizations must be able to recognize the need for change and adapt dynamically — reassembling capabilities from inside and outside the enterprise.
Are you equipped to deliver innovation quickly in the wake of disruptions?
The current enterprise processes and business application portfolios were designed to address the challenges of the past. In the face of rapid changes, they become an obstacle to innovation. At the same time, you cannot rip and replace them due to the cost and risks involved.
So, how do you transform your organization for the emerging future?
According to Gartner, organizations need to evolve into ‘composable enterprises’ and adapt to changing business needs through the assembly and combination of packaged business capabilities.
Composable business means creating an organization made from interchangeable building blocks. It is “being flexible, fluid, continuous, even improvisational — and it is how we will move forward,” says Don Scheibenreif, Distinguished VP Analyst, Gartner.
One of the key principles of composable businesses is achieving resilience through autonomy.
Now, what is an autonomous enterprise?
In his recent article in Forbes, Chris MacFarland, Executive Chairman & CTO of Masergy has defined the autonomous enterprise as a self-driving business that has applied artificial intelligence and automation to the problems of operations and management — one that is able to configure, monitor and maintain itself independently. Correspondingly, it’s capable of learning, adapting to changes and intelligently automating.
An autonomous enterprise can assemble, reassemble and extend business capabilities using applications that can be adapted to the changing needs of the business. With this agility, it can deliver more unique and customized experiences to users, and facilitate deeper collaboration between stakeholders.
In short, autonomous enterprises symbolize freedom.
Freedom from tedious manual operations. Freedom from inflexible bots. Freedom from the dependency on tech-heavy applications.
The agility of an autonomous enterprise depends mainly on its ability to scale business operations rapidly based on the need of the hour.
At the front-end, you need to empower the real business users to be able to bring in engaging customer experiences. JIFFY.ai enables such an experience with its intuitive no-code software and application development studio.
The next critical requirement is to make the middle-office and back-office processing autonomous. This is made possible by moving away from manual operational processes and embracing automation. And then employing artificial Intelligence and machine learning-based decision making to execute business functions on a dynamic basis and recognize events, patterns, anomalies, relationships as well as root causes.
You may exclaim, “All that sounds great, but today automation is seen as complex to execute and slow to show results”!
JIFFY.ai brings ultimate freedom to your enterprise.
We see automation through a new lens. We specialize in combining automation with contextual intelligence and enabling you to build highly specific solutions for your enterprise processes on our integrated intelligent automation platform.
The platform enables organizations to compose, configure, monitor and maintain themselves as autonomous enterprises. Enterprises will be able to assemble automated business capabilities that can learn and adapt to changing needs with little or no additional resource and operational expenditure.
It brings the powers of artificial intelligence, machine learning, cognitive document processing, natural language processing, no-code application development and workflows, and analytics to your business users. So, they can deliver end-to-end business process automations and lifecycle management solutions that boost efficiency, reduce OPEX costs, and ensure faster returns on investment.
It liberates your people from the tedium of manual processes. It gives them freedom to think faster. Freedom to create faster. Freedom to automate faster. And freedom to innovate faster.
For example, it can crawl through real-time customer interactions, incidents, workflows and procedures across multiple channels to quickly detect anomalies, issues, or preferences of the customer. Based on that data, it can proactively generate the best action to either resolve an issue or initiate recommendations before the customer even realizes they existed.
Or it can make the entire process of customer or employee onboarding seamless by collecting fresh data and suggesting the best choices for the new customers and employees.
It can also compile huge volumes of finance and accounting data and ensure real-time reconciliation—a complex operation that would otherwise keep your most valuable employees engaged for several days at the end of every month.
In fact, our intelligent automation platform brings out the best in your people and empowers them to achieve tomorrow’s possibilities today.
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How AI-powered Autonomous Finance Technology Helps Connect the CFO’s Office and Ensures Finance Transformation
Strengthening and energizing your business model requires a lot more than refining supply channels. Modernizing and streamlining the Financial value chain operating through the CFO’s)Office is just as essential. If the CFO does not participate in an ongoing integration project, they lose an excellent opportunity to shape how those integrations will impact work.
Research shows that 1 in 3 Financial leaders prioritize having an integrated, single source of data as the biggest change they expect from digital transformation. Autonomous Finance technology takes you closer to the goal of Finance transformation with an integration-first approach, among other benefits.
RPA Alone Is Not Enough
When companies adopt traditional robotic process automation (RPA) for Accounting and Finance, a lack of integration within the CFO’s Office is a common challenge. Initiatives to modernize Procure-to-Pay (P2P), Order-to-Cash (O2C), and Record-to-Report (R2R)— three key financial processes—can quickly fall through the gaps when Marketing and Sales teams – and not the CFO’s office – drive almost every aspect of digital transformation.
Other departments simply “leave it to the CFO,” assuming that the CFO’s Office possesses the inherent expertise to drive automation, integration, transformation and other initiatives. The problem with this approach is that while everything else is being digitally transformed and optimized, Financial integration within the CFO’s Office is often left behind.
According to a recent study, CFOs are eager to embrace the digitization of nearly every Finance & Accounting (F&A) function. Seventy-four percent of global CFOs are looking to accelerate into an era of enhanced reporting, moving beyond traditional R2R. Advanced analytics is a top priority with more than 1 in 3 CFOs investing in related technologies over the upcoming years. Without integrated Financial systems, these projects will fall short of expectations.
What Happens When Finance Systems Do Not Speak?
Most businesses rely on different systems to meet various operational requirements. Different architectures prevent these disparate systems from interacting. In the absence of data interactivity, information silos form, inhibiting growth and holding back opportunities for automation or more advanced autonomous decision-making.
This problem is further compounded in large organizations. The greater the size of the business, the larger the number and intricacy of its components—spanning numerous departments, sub-entities, and stakeholders. This complexity permeates the CFO’s Office, where work involves sourcing and procurement (part of P2P), financial analysis and planning (R2R), risk mitigation and regulations, as well as reconciliations (part of O2C).
To administer these complex processes, most F&A teams use a mix of point solutions, including spreadsheets, RPA bots, and ERP and CRM tools, among other technologies. In addition, the treasury employs a separate system because it requires an intricate structure to oversee settlements, legal compliance, liquidity, and cash.
With the ecosystem built on independent, siloed solutions piled on top of each other, extracting data in a timely manner becomes tedious and time-consuming. The pivotal P2P, O2C, and R2R processes remain disconnected, the back and front office systems do not speak to each other, and the entire environment is unsuitable for Autonomous Finance, which is far more mature and streamlined than traditional RPA.
For example, if an important transaction such as procurement in P2P goes awry, the CFO does not have immediate insights into the issue, because the relevant data resides in a system to which only the procurement staff has access. By contrast, R2R operates separately and without real-time synchronization.
This means the CFO must traverse a labyrinth of solutions to garner, review, and share an accurate perspective of the issue to other stakeholders. As such situations can arise on a daily basis, the CFO gets encumbered with daily transactions, and is left with less time for strategic decision-making.
How Can Autonomous Finance Technology Help Accelerate Finance Transformation?
Autonomous Finance technology can play a vital role in addressing these issues. Powered by Generative AI and built on no-code technology, an Autonomous Finance platform can help to complete digital transformation in the CFO’s Office and make it meaningful for every stakeholder in the F&A ecosystem.
The technology ensures that the P2P, O2C, and R2R processes are straight-through and streamlined, brings autonomous decision-making capabilities to F&A processes, and also makes sure that the front and back offices can speak to each other and exchange data. It demolishes information silos and reduces overreliance on coding and IT efforts.
Autonomous Finance helps CFOs to adopt a micro-innovation approach; the platform provides building blocks to create intelligent self-learning and evolving apps to streamline various use cases – from price blocks and cash allocations, to cash flow, payment prioritization, and many more. These apps come with pre-built data models and system connectors designed to overcome the lack of interconnectivity within the CFO’s Office, and between Financial processes and the rest of the enterprise.
3 Ways an Autonomous Finance Platform Connects and Speeds Up Financial Processes
Implementing an Autonomous Finance platform is a quick and effective way to overcome integration challenges and achieve autonomous decision-making capabilities. It helps CFOs facing system and information silos in the following ways:
1. Empowers business users to build rapid solutions
Traditionally, RPA automation relies on detailed scripts and extensive coding efforts. In the face of exceptions, this approach further adds to cost and operational overheads. On the other hand, Autonomous Finance empowers business users to build their own solutions involving complex third-party interconnections by leveraging their domain knowledge and understanding of the business. As it is a no-code platform, accountants, procurement professionals, and other executives in the CFO’s Office can quickly turn their visions into action.
2. Makes use of pre-built models and workflows
Autonomous technology goes beyond RPA in Finance, providing users with pre-built modules based on industry knowledge. This includes data models, workflows, Finance widgets, and system connectors that allow the different nodes of the CFO’s Office—P2P, O2C, and R2R, – to talk to each other. Integrations can be built faster without compromising the quality of app development, and also without too much technical dependence.
3. Opens up opportunities to integrate Generative AI
Generative AI has unlocked new frontiers in Finance transformation. It can cut across system and data silos to accelerate app development and facilitate insights-driven decision-making. For example, an Autonomous Finance platform powered by Generative AI can be used to build Financial apps (or any other apps) 10X faster, by providing real-time suggestions, intelligent recommendations, and best practices for creating or customizing AI-powered hyper-automated apps. The platform also streamlines the flow of data between these processes to seamlessly connect disparate elements of the CFO’s Office.
The Age of Autonomous Finance is Here
Tedious manual processes impede the speed and efficiency of critical F&A tasks such as invoice processing, and managing the collection and reconciliation of receivables. This, in turn, extends Days Sales Outstanding (DSO) metrics and reduces net revenue resulting from delayed payments and inefficiencies in cash management. Even though automating these processes partly helped to curtail DSO to a certain extent, human involvement has still been necessary to ensure the right outcomes.
In 2023 and beyond, CFOs should no longer struggle with the age-old problems of data deficiency and disconnected systems. CFOs advocating for Finance transformation through end-to-end automation in their organizations should consider switching to AI-powered Autonomous Finance technology. It helps them to achieve “touchless” F&A, significant cost reductions, and lower average DSO figures, while enhancing resilience and transparency in the face of unforeseen cash-flow challenges.
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