Emagia specializes in data-driven finance and offers the tools and solutions to turn finance departments from back-office services to the catalysts for growth and innovation. Emagia leverages data-driven process automation, primarily in-order-to cash processes, and creates a platform for integrated customer-to-cash management for finance departments as well as finance shared service centers. Veena Gundavelli, Founder and CEO of the firm said, “We bring in the power of the nexus of Forces – Big data, Predictive and Cognitive analytics, Robotic Process Automation - to drive unprecedented efficiency in finance operations and provide strategic business insights especially relating to order-to-cash operations.”
It is quintessential for us to bring new technologies to finance
The firm primarily offers its services in two main packages: Emagia Analytics, which uses data and predictive analytics to give the organization a complete picture of customer-to-cash operations and futuristic insights on customer payment behavior as well as cash flow related performance metrics such as Days Sales Outstanding (DSO); The Emagia Enterprise Receivables Management Suite is a new generation smart automation solution for global shared services and finance organizations, includes six different modules for credit, receivables, collections, deductions, cash flow forecasting, electronic invoicing, and payments.
Emagia mastered the concept of ABC=4C principle involving the nexus of analytics, big data, and cloud to drive better business outcomes relating to customer, cash flow, cost, and compliance, providing insights across all of these areas to power efficient finance operations. With Emagia’s solutions, a company can transform the finance departments from a simple back office function to a strategic growth catalyst for the organization. This approach adds strategic value and offers insight into customers, their revenue patterns, and other aspects, which offers strategic guidance for front office sales and business growth.
Emagia enables its users to build three layer components within its system. First, a single unified data platform converges data from multiple sources. The second component is an analytics hub where the collected data fuels descriptive, predictive, and prescriptive analytics to show the organization what is happening within their operations, with their customers’ cash flow and control compliance. This component is powered by machine learning and artificial intelligence to drive a better understanding of customer payment patterns and drive operational decisions. The third component is smart automation, which includes robotic process automation, to drive the operation. With this nexus of three forces approach, the company empowers finance organizations to drive next generation cognitive and smart operations. This helps their customers drive down costs, increase efficiency, cash flow, and add value. “We are entering into the age of self-driving cars. Enterprise operations should also in some form become a self-driving entity with minimal manual activity, so our approach to this is putting these principles to finance operations and seeing how we can bring in more of a digital and cognitive automation for increased efficiency and strategic value to businesses,” adds Gundavelli.
Emagia is also leading innovation in applying Big Data to further assist finance in their transformation. Traditional data warehouse is becoming obsolete because companies only derive old historic information. Modern data architectures with Big Data allow massive data management with predictive analytics capabilities. Many finance operations deal with increasingly complex and abundant sources of data and properly harnessing Big Data can further improve operations and add better business value with strategic insights. “Innovation is a key part of our company fabric and it’s quintessential for us to bring new technology to finance that can create more business value for our customers,” concludes Gundavelli.