Processing data and analyzing it is essential for any company, whatever the profession, but more particularly in large groups. NEOFI therefore offers solutions that enable the processing and automation of these actions, mainly in finance. Sothon Hua, CEO and founder of NEOFI, tells us about it.
The DNA of NEOFI is the processing and automation of data flows. We offer solutions to automate the collection of data from different applications or ERPs, their processing, their enrichment, and their routing to their destination with or without user intervention for validation or electronic signature.
Our current solutions are mainly focused on payments, cash management, the fight against fraud, management of direct debit mandates, and the intra-group, multi-currency and multi-lateral clearing system called Netting . All based on cutting-edge technology of which BI (business intelligence) is the analysis and decision support tool. In the future, we will integrate a new dimension which is that of Big Data combined with artificial intelligence, in order to provide even more detailed and predictive analysis.
Because any strategic decision (investments, acquisition, sale, various developments, etc.) taken at the level of General Management is based on data transmitted mainly by the Finance department, and this data must be of the greatest reliability given the challenges of great magnitude which may result from it. Hence the daily battle for treasurers to bring together all the data from their ecosystem and scattered across various applications (budget, forecasts of disbursements or collections, collection, foreign exchange, payroll, accounting, CRM, ERP, etc.). It is a real obstacle course to identify the truly reliable data allowing the position to be simulated at a given moment in order to anticipate the situation, make good decisions and communicate them to management. The advantage of automation is to have perfect data reliability and to ensure its traceability.
Data is the gold of the 21st century because the need for increasingly detailed predictive analyzes requires the collection of data whose volume is increasingly important since it brings together business data, but also cross-sectional data. inter-businesses, and on the other hand unstructured data from internet networks.
To store and exploit all this mass of data, new technologies have emerged: Open Data , Big Data , Ipaas , Machine Learning , etc. which are technological markers of this new generation with very high annual growth. NEOFI is therefore in the process of integrating these new technologies in order to respond to this market demand and offer financial management the most efficient tools to provide information to general management.
