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Premium Accounting Oy is an accounting firm that was founded in Helsinki in 2007. The company is part of the Premium Group which also includes the law firm Premium Law Oy which operates on the same premises. The company employs a total of 40 professionals.
Premium is a pioneer in comprehensive financial and legal management: acting as a comprehensive partner that provides personal service in both legal and financial matters for its customers. As Premium professionals stay up-to-date and forecast future trends, the customer can relax and stay focused on what matters to them.
AUTOMATION PROVIDES A MODERN SOLUTION FOR PURCHASE INVOICE PROCESSING
Premium’s Chief Accountant and Partner Johanna Hämäläinen says that the company has spent a lot of time evaluating and discussing its strategy and future goals. But ever since the beginning of their discussions, they have had the idea of automating certain processes.
The company began to consider the possibilities of artificial intelligence automation.
Large accounting firms already use quite a bit of artificial intelligence and automation. We want to participate in that competition to keep our business profitable. Through general interest and acquaintances, I have been listening to talk about artificial intelligence solutions for many years. I knew there were opportunities.
In particular, the time-consuming processing of purchase invoices was seen as an object that can be handled more efficiently. This would allow Premium’s accountants to invest even more in value-adding work for the client, such as personal consulting.
It was then decided to adopt a solution from the domestic company FabricAI, to support the invoicing operations. FabricAI’s automation was set to handle a significant part of the processing of purchase invoices on behalf of the accountant. Thanks to automation, the accountants’ time is freed up for more useful tasks.
This was a concrete way to approach AI and the automation of functions. We don’t have the resources to start building technical implementations like these ourselves – especially when you think that there already exists a ready-made solution like FabricAI.
We had no expectations at the beginning. I think I’m a realist and didn’t expect AI to save the world and do everything for us. The service has been a positive surprise. Accountants who use it on a daily basis believe that FabricAI’s automation is of great benefit and assistance to the right type of customers. I have been pleased that it has fulfilled the promise that was said it would.
THE DEPLOYMENT PROCESS IS CLEAR AND SIMPLE
In addition to the practical benefits, Hämäläinen’s experience with automation and its implementation is positive. It has been easy to adopt and use right from the beginning.
The process is clear and simple – there’s no nonsense dimmer built-in, so it’s easy to adopt. In the training, the whole thing is well visualized, so it was possible to showcase important things with just a few slides without having long presentations. I like clarity and direct communication. Especially in the beginning, clarity was definitely an advantage.
Accountants who have been using automation a lot have also found it easy to use.
Our accountants also think FabricAI is straightforward. There is no need for any gigantic training and repetition. The accountants learned how to use it just with the help of the first training, which shows that it’s clearly easy to use.
SPECIALIZED SERVICE SUPPORT
After the introduction of automation, FabricAI holds regular follow-up meetings with the customer. The customer will also receive an analytics report, which will be reviewed together with their personal FabricAI contact person. Hämäläinen says that she is satisfied with the customer service.
The follow-up meetings have worked well. They are always scheduled and the next one will be agreed on in good time so there’s no confusion with timelines. The meetings have been efficient and concise and focused on the issue, which is good because we are always in a terrible hurry.
Premium has been given an automation tool that also enables the company to plan the future better.
Now we know what we are able to do and where we stand currently. I find myself already wondering how we can improve things with automation in the future – what more, what improvements. That’s where my thoughts lie.
If you want to know how automation could help improve your company’s purchase invoice process, get in touch and let’s take a closer look together.