We talked to Rohit Gupta, CEO, and co-founder of Auditoria, about optimization of cash flow performance, and this is what he said about it.
Tell us about you, your career, and how you founded Auditoria.
Rohit Gupta: I am a serial entrepreneur, active angel investor, venture capital limited partner, and the CEO and co-founder of Auditoria.AI, a pioneer in AI-driven automation solutions for corporate finance teams. I have a passion for technology, having built, scaled, and successfully acquired and sold over fifteen companies in my career. This passion led me to create Auditoria, alongside Adina Simu and Gaurav Bhatia, to transform the corporate finance back office.
Throughout our careers, we saw how every line of business experienced successes due to new innovations in technology, save for the finance back office, who were only tasked to do more with the already outdated tools they had. These finance teams were managing a growing volume of supplier/vendor obligations, accounting, tax, and compliance updates, billing, and collections work – and had to do this repetitively, without any end in sight.
The adage that “there’s no rest for the weary” is never more true than in the back office, and that’s where the genesis of Auditoria was born.
How does Auditoria innovate?
Rohit Gupta: Auditoria.AI is a ground-breaking new SaaS solution that addresses the most pressing challenges of the finance back-office. Our software delivers AI-driven workflows and decision support across the massive volumes of enterprise data, augmenting finance teams with intelligent automation to execute business processes, deliver rapid insights, and respond to customer needs.
We increase the speed, accuracy, and productivity of finance teams with powerful SmartFlow Skills to automate, analyze, audit, and collaborate across the modern finance organization with cutting-edge AI, cognitive RPA, NLP, and ML technologies. Using robust, modern APIs, we build on top of industry-leading ERP Financial Applications and offer a frictionless SaaS deployment that is up and running in minutes.
Our SmartFlow Skills automate both simple and complex financial tasks, including vendor management, accruals, dunning and collections, cash flow forecasting, and audit readiness, autonomously and efficiently running finance processes and bringing in the human operator as needed.
How the coronavirus pandemic affects your business and how are you coping?
Rohit Gupta: 2020 was a banner year for Auditoria, despite the challenges we’ve all faced with the global pandemic. Our focused effort to provide intelligent, cognitive, automated applications to corporate finance teams struck a chord as CFOs and Controllers were looking for ways to drive greater efficiencies and resiliency in their organizations and finding new ways to get work done, with software augmenting their accounting staff.
How do you project yourself and your company in the future?
Rohit Gupta: We pride ourselves on being agile in our efforts at Auditoria to stay on the cutting edge of technology and innovation. Within six months of launching our product, we made significant updates to further our mission of transforming the corporate finance back-office and accelerating the reality of the zero-touch self-driving back office.
Our Intelligent Automation capabilities, including Intelligent Collections, Intelligent Planning, and Intelligent Vendor Management, reinvented how CFOs and corporate finance teams interact with collections and payments. Our intelligent bots are now at the forefront of dunning, augmenting AR clears, while also helping vendor management and procurement teams with preparing journal entries and dealing with year-end tax preparation.
We have also seen immense success with our channel-first strategy, securing strategic partnerships with several leading organizations to drive global growth for the company, including Armanino, AST LLC, BrainSell, MCS Group, RSM, and Wipro Limited, and will only continue to identify strategic partners for future endeavors.
We also became the first cognitive automation application provider certified by Oracle NetSuite and Sage Intacct. By virtue of these certifications and partnerships, we can consistently deliver on our promise of rapid time to value with clients going live in days instead of months.
Who are your competitors? And how do you plan to stay in the game?
Rohit Gupta: We have built on what legacy ERP and RPA vendors created to develop the industry’s first Cognitive Automation platform that combines automation of tasks and business processes, the automation of analytics, and the automation of interactive responses – purpose-built for corporate finance and ERP – in one simple SaaS offering. Combined with cutting-edge natural language processing and machine learning, we empower CFOs to digitally transform their back-office functions and bring automated outcomes to every part of their charter.
Your final thoughts?
Rohit Gupta: The finance back-office may have been slow to adopt artificial intelligence, however, we are bringing the corporate finance function into the 21st century. In short, we help modern Finance teams accelerate finance transformation by dramatically improving cash performance.
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