Processing and analyzing data is crucial for any business, regardless of its sector, but especially for large corporations. NEOFI therefore offers solutions that enable the processing and automation of these tasks, primarily in the finance sector. Sothon Hua, CEO and founder of NEOFI, tells us more.
NEOFI 's core expertise lies in data processing and automation. We offer solutions that automate the collection, processing, enrichment, and routing of data from various applications and ERP systems, with or without user intervention for validation or electronic signature.
Our current solutions are primarily focused on payments, cash management, fraud prevention, direct debit management, and the multi-currency, multilateral, intra-group clearing system known as Netting . All of this is based on cutting-edge technology, with business intelligence (BI) serving as the analytical and decision-support tool. In the future, we will integrate a new dimension: Big Data combined with artificial intelligence, to deliver even more sophisticated and predictive analysis.
Because every strategic decision (investments, acquisitions, sales, various developments, etc.) made at the Executive Management level is based primarily on data transmitted by the Finance department, and this data must be extremely reliable given the significant implications. Hence the daily struggle of treasurers to gather all the data from their ecosystem, scattered across various applications (budget, cash flow and receipt forecasts, collections, foreign exchange, payroll, accounting, CRM, ERP, etc.). It's a real uphill battle to identify truly reliable data that can simulate the financial position at any given time, allowing for anticipation, sound decision-making, and communication to management. The benefit of automation lies in ensuring perfect data reliability and traceability.
Data is the gold of the 21st century because the need for increasingly sophisticated predictive analyses requires the collection of data whose volume is increasingly significant, since it brings together on the one hand business data, but also cross-functional inter-business data, and on the other hand unstructured data from internet networks.
To store and leverage this vast amount of data, new technologies have emerged: Open Data , Big Data , IPaaS , Machine Learning , and others. These are key technological markers of this new generation, experiencing very high annual growth. NEOFI is therefore in the process of integrating these new technologies to meet market demand and provide finance departments with the most effective tools for reporting information to senior management.
