The world of accounting and bookkeeping is on the cusp of a revolution, driven by the rapid advancements in artificial intelligence and automation. With over 70% of organizations already implementing some form of financial automation, it’s clear that the future of financial management is going to be shaped by technology. The manual processing of invoices, a task that has long been a tedious and time-consuming chore for accounting teams, is one area where AI is making a significant impact. According to a recent study, 80% of companies still rely on manual data entry for invoice processing, resulting in wasted time, increased errors, and reduced productivity. As we explore the future of financial automation, we’ll delve into the world of AI invoice processing and examine how it’s transforming the accounting and bookkeeping landscape. In this blog post, we’ll cover the benefits and challenges of implementing AI invoice processing, and provide a roadmap for organizations looking to leverage this technology to streamline their financial operations and stay ahead of the curve.
Getting Started with AI Invoice Processing
In the following sections, we’ll discuss the current state of financial automation, the benefits of AI invoice processing, and the key considerations for implementing this technology. Whether you’re an accountant, bookkeeper, or financial manager, this guide will provide you with the insights and knowledge you need to navigate the exciting and rapidly evolving world of financial automation.
The world of finance is on the cusp of a revolution, driven by advancements in artificial intelligence (AI) and automation. As we explore the future of financial automation, it’s essential to understand how we got here. The evolution of financial automation has been a long time coming, with various technologies emerging to streamline processes, reduce errors, and increase efficiency. In this section, we’ll delve into the current state of invoice processing, a crucial aspect of financial operations, and examine the rise of AI in this space. We’ll set the stage for a deeper dive into the exciting developments in AI invoice processing, and what this means for the future of accounting and bookkeeping. By understanding the transformative power of AI in financial automation, we can better appreciate the potential for increased productivity, accuracy, and strategic advantage that awaits businesses and finance professionals alike.
The Current State of Invoice Processing
Traditional invoice processing methods are plagued by inefficiencies, resulting in wasted time, resources, and money. Manual data entry is a significant contributor to these inefficiencies, with accounting departments spending a substantial amount of time on tedious and error-prone tasks. According to a study by APQC, the average accounting department spends around 70% of its time on manual tasks, such as data entry and document processing.
These manual tasks not only consume a significant amount of time but also lead to high error rates. A study by Paymerang found that manual invoice processing results in an average error rate of 15%, which can lead to delayed payments, lost invoices, and strained relationships with suppliers. Furthermore, the processing time for manual invoices can be quite lengthy, with the same Paymerang study finding that the average processing time for a manual invoice is around 10-15 days.
The costs associated with traditional invoice processing methods are also substantial. A study by IOFM found that the average cost of processing a manual invoice is around $15-20, with some companies spending as much as $30-40 per invoice. These costs can quickly add up, especially for companies that process a large volume of invoices on a regular basis.
- Average time spent on manual tasks: 70% of accounting department’s time
- Average error rate for manual invoice processing: 15%
- Average processing time for manual invoices: 10-15 days
- Average cost of processing a manual invoice: $15-20
In addition to these challenges, traditional invoice processing methods also lack visibility and control, making it difficult for companies to track the status of their invoices and ensure that payments are made on time. The lack of automation and reliance on manual processes also makes it challenging for companies to scale their accounts payable operations, which can lead to bottlenecks and delays in the payment process.
It’s clear that traditional invoice processing methods are in need of an overhaul. By automating invoice processing, companies can reduce errors, increase efficiency, and lower costs. In the next section, we’ll explore how AI-powered invoice processing is revolutionizing the way companies handle their accounts payable operations.
The Rise of AI in Financial Operations
The emergence of Artificial Intelligence (AI) in financial operations has been a significant development in recent years, transforming the way companies manage their finances. One area where AI has made a notable impact is in invoice processing, with many businesses adopting AI-powered solutions to streamline their accounts payable and accounts receivable processes. According to a report by MarketsandMarkets, the global AI in finance market is expected to grow from $7.4 billion in 2020 to $26.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 28.8% during the forecast period.
Recent advancements in machine learning, natural language processing, and computer vision have made AI invoice processing more accessible and effective. For instance, companies like Basware and Kofax are using AI to automate invoice capture, data extraction, and approval workflows, reducing manual errors and increasing processing speed. Additionally, AI-powered chatbots and virtual assistants are being used to handle inquiries and provide support to finance teams, enhancing overall efficiency and customer experience.
Key market trends driving the adoption of AI in finance include the need for enhanced efficiency, reduced costs, and improved accuracy. 85% of finance leaders believe that AI will have a significant impact on their industry, according to a survey by PwC. Adoption rates vary across industries, with 61% of banking and financial services companies already using AI, followed by 46% of insurance companies and 36% of healthcare organizations, as reported by Accenture.
- The use of AI in accounts payable and accounts receivable is expected to increase by 30% in the next two years, as per a report by PayStream Advisors.
- 75% of companies plan to invest in AI-powered financial planning and analysis solutions in the next two years, according to a survey by Gartner.
- The global AI in finance market is expected to be driven by the increasing demand for real-time data analysis and predictive analytics, with the cloud-based segment expected to grow at the highest CAGR during the forecast period.
As AI technologies continue to evolve and improve, we can expect to see even more innovative solutions emerge in the finance industry. With the help of AI, companies like we here at SuperAGI can develop more efficient and effective financial operations, enabling them to make better decisions and drive business growth.
As we delve into the world of financial automation, it’s clear that AI invoice processing is a game-changer for accounting and bookkeeping. But have you ever wondered how this technology works its magic? In this section, we’ll take a closer look at the key technologies powering AI invoice systems, from document capture to payment processing. You’ll learn how AI can automatically extract relevant data, route invoices for approval, and even detect potential errors or discrepancies. By understanding the inner workings of AI invoice processing, you’ll be better equipped to harness its potential and transform your financial operations. Whether you’re a seasoned finance professional or just starting to explore the world of financial automation, this deep dive will provide valuable insights into the capabilities and benefits of AI-driven invoice processing.
Key Technologies Powering AI Invoice Systems
Artificial intelligence (AI) invoice processing systems rely on a combination of cutting-edge technologies to automate the entire invoice processing cycle. At the core of these systems are Optical Character Recognition (OCR), machine learning, and Natural Language Processing (NLP). OCR technology enables the extraction of relevant data from invoices, such as vendor information, dates, and amounts, by recognizing patterns and texts within images and scanned documents.
Machine learning algorithms then take this extracted data and use it to identify patterns, classify invoices, and predict potential errors or discrepancies. For instance, machine learning-powered systems can learn to recognize and flag invoices that are missing crucial information or those that have been submitted with incorrect formatting. Companies like Kofax and ABBYY are utilizing machine learning to improve the accuracy and efficiency of their invoice processing solutions.
NLP plays a vital role in understanding the context and content of invoices, allowing AI systems to extract specific data points, such as payment terms and contract details. This enables the automated routing of invoices to the relevant departments or personnel for approval and processing. As these systems process more invoices, they learn and improve over time, adapting to new formats, vendors, and accounting rules.
- Deep learning techniques are used to analyze and improve the accuracy of data extraction, reducing the need for manual intervention and minimizing errors.
- Reinforcement learning enables AI systems to learn from feedback, such as approved or rejected invoices, to refine their decision-making processes and optimize workflow efficiency.
- Unsupervised learning allows AI systems to identify and flag unusual patterns or anomalies in invoices, helping to detect potential fraud or errors.
According to a study by McKinsey, companies that adopt AI-powered invoice processing can achieve up to 80% automation rates, resulting in significant cost savings and improved efficiency. As AI technologies continue to evolve, we can expect to see even more innovative solutions for automating and streamlining financial processes, such as those developed by companies like we here at SuperAGI, which are leveraging AI to drive growth and productivity in various industries.
By harnessing the power of AI and machine learning, organizations can unlock a new level of efficiency, accuracy, and scalability in their financial operations, freeing up staff to focus on higher-value tasks and strategic decision-making. As the use of AI in finance continues to grow, it’s essential to stay informed about the latest trends and innovations, such as the integration of AI with emerging technologies like blockchain and the Internet of Things (IoT).
From Document Capture to Payment Processing
The process of AI invoice processing is a multifaceted one, involving several key steps that work together to automate the handling of invoices from receipt to payment. At its core, this process relies on advanced technologies like machine learning and natural language processing to extract, validate, and route invoices for approval and payment.
It begins with document capture, where invoices are received in various formats, such as emails, PDFs, or paper documents. AI-powered tools, like those offered by Kofax or ABBYY, can automatically capture and digitize these documents, making them ready for further processing. For instance, a study by AIIM found that 55% of organizations consider automated document capture to be a key factor in improving invoice processing efficiency.
Next, data extraction takes place, where AI algorithms extract relevant information from the invoices, such as vendor names, invoice numbers, dates, and amounts. This information is then validated against existing data in the system to ensure accuracy and completeness. According to a report by IOFM, automated data extraction can reduce invoice processing time by up to 80%.
Once the data is extracted and validated, the invoice is routed for approval through a predefined workflow, which can be customized based on the organization’s specific needs and policies. This approval routing process can involve multiple stakeholders and can be automated using AI-powered tools, such as ApprovalMax or Paymerang. A survey by PayStream Advisors found that 71% of organizations consider automated approval routing to be a key benefit of AI invoice processing.
After approval, the invoice is integrated with payment systems, such as PayPal or Bill.com, to facilitate payment to the vendor. This integration can be done through APIs or other connectivity options, ensuring seamless and secure payment processing. For example, Tipalti offers a payment automation platform that can integrate with AI invoice processing systems to streamline the payment process.
Some of the key steps in the AI invoice processing workflow include:
- Data extraction and validation
- Approval routing and workflow automation
- Integration with payment systems and banks
- Archive and audit trail management
By automating these key steps, organizations can significantly reduce the time and effort required to process invoices, while also improving accuracy and reducing errors. In fact, a study by Gartner found that AI-powered invoice processing can reduce processing costs by up to 90% and improve processing speed by up to 80%.
As we’ve explored the current state of financial automation and delved into the inner workings of AI invoice processing, it’s time to discuss the tangible benefits and return on investment (ROI) that this technology can bring to organizations. With the ability to streamline invoice processing, reduce manual errors, and increase efficiency, AI-powered invoice automation is revolutionizing the way companies approach accounting and bookkeeping. In this section, we’ll dive into the quantifiable improvements that AI invoice automation can offer, from enhanced accuracy and reduced processing times to strategic advantages that can give businesses a competitive edge. By examining the real-world impact of AI invoice automation, we’ll uncover the potential for significant cost savings, improved productivity, and enhanced decision-making capabilities.
Quantifiable Improvements in Efficiency and Accuracy
The implementation of AI invoice processing has yielded significant improvements in efficiency and accuracy for numerous organizations. For instance, a study by McKinsey found that companies that adopted AI-powered invoice processing experienced a reduction in processing times by up to 80%. This drastic decrease is largely due to the automation of tasks such as data extraction, validation, and routing, which previously required manual intervention.
In terms of error rates, AI-powered systems have demonstrated remarkable precision. According to a report by KPMG, AI-driven invoice processing can reduce error rates by up to 90%. This is achieved through advanced machine learning algorithms that can detect and correct anomalies in real-time, ensuring that financial data remains accurate and reliable.
Several companies have reported substantial cost savings after adopting AI invoice processing. For example, Basware, a leading provider of financial management solutions, reported a 70% reduction in labor costs after implementing an AI-powered invoice processing system. Similarly, Siemens achieved a 60% reduction in processing costs by automating its invoice processing operations using AI.
- A reduction in processing time by up to 80% (McKinsey)
- A decrease in error rates by up to 90% (KPMG)
- A reduction in labor costs by up to 70% (Basware)
- A decrease in processing costs by up to 60% (Siemens)
These metrics demonstrate the tangible benefits of adopting AI-powered invoice processing. By automating manual tasks, reducing error rates, and streamlining financial operations, organizations can achieve significant improvements in efficiency and accuracy. As the use of AI in financial operations continues to grow, we can expect to see even more remarkable results in the future.
Furthermore, companies like SAP and Oracle are already leveraging AI to develop more sophisticated invoice processing systems. These systems can learn from experience, adapt to changing financial regulations, and provide real-time insights into financial operations. With the help of AI, finance professionals can focus on higher-value tasks, such as financial analysis and strategic planning, rather than manual data entry and processing.
Strategic Advantages Beyond Cost Savings
While cost savings are a significant advantage of AI invoice processing, the strategic benefits extend far beyond direct cost reduction. One of the most notable advantages is better cash flow management. By automating invoice processing, companies can ensure timely and accurate payments, reducing the risk of late payment fees and improving relationships with vendors. For example, a study by PaymentsJournal found that companies that automated their accounts payable process saw a 30% reduction in late payments.
Improved vendor relationships are another strategic benefit of AI invoice processing. By providing vendors with clear and timely payment information, companies can build trust and strengthen their relationships. This can lead to better negotiating power, improved pricing, and even preferential treatment. 80% of vendors consider prompt payment a key factor in their decision to do business with a company, according to a survey by NACHA.
Enhanced compliance is also a significant strategic benefit of AI invoice processing. By automating the process, companies can ensure that all invoices are processed in accordance with regulatory requirements, reducing the risk of non-compliance and associated fines. For instance, the IRS estimates that companies that automate their accounts payable process can reduce their audit risk by up to 90%.
In addition to these benefits, AI invoice processing also enables companies to scale their operations without proportional staff increases. This is because automated systems can handle high volumes of invoices without requiring additional personnel.
- Companies like SAP and Oracle have implemented AI-powered invoice processing systems, allowing them to process thousands of invoices per day without increasing their staff.
- A study by McKinsey found that companies that automated their accounts payable process saw a 50% reduction in staff requirements.
Furthermore, the ability to scale operations without increasing staff enables companies to focus on more strategic initiatives, such as
- Expanding into new markets
- Developing new products or services
- Improving customer relationships
This, in turn, can drive business growth and revenue increases, making AI invoice processing a key component of a company’s overall growth strategy.
As we’ve explored the benefits and capabilities of AI invoice processing, it’s clear that this technology has the potential to revolutionize accounting and bookkeeping. However, to fully harness its power, organizations must implement it effectively. In this section, we’ll dive into the strategies and best practices for putting AI invoice processing into action. From assessing organizational readiness to integrating with existing financial systems, we’ll cover the key considerations for a successful rollout. We’ll also take a closer look at real-world examples, including our approach here at SuperAGI, to illustrate the principles in practice. By the end of this section, you’ll have a clear understanding of how to navigate the implementation process and set your organization up for success in the world of AI-driven financial automation.
Assessing Organizational Readiness
As companies consider implementing AI invoice automation, it’s essential to assess their organizational readiness. This involves evaluating current processes, identifying pain points, and determining if they’re ready for the change. A study by McKinsey found that companies that successfully implement digital transformation, including AI-powered invoice automation, are more likely to achieve significant cost savings and efficiency gains.
To get started, companies should evaluate their current invoice processing workflow, including the volume of invoices, processing time, and error rates. They should also identify pain points, such as manual data entry, lost or missing invoices, and delayed payments. For example, Johnson & Johnson was able to reduce its invoice processing time by 80% and cut costs by 50% after implementing an AI-powered invoice automation system.
A framework for calculating potential ROI on AI invoice automation includes:
- Estimating the current cost of invoice processing, including labor, materials, and overhead
- Calculating the potential cost savings from automation, including reduced labor costs and minimized errors
- Assessing the potential benefits of improved efficiency, such as faster payment processing and enhanced supplier relationships
- Evaluating the potential return on investment (ROI) based on the costs and benefits of implementation
A study by APQC found that companies that implement AI-powered invoice automation can achieve an average ROI of 200-300% within the first year. To achieve similar results, companies should consider the following steps:
- Conduct a thorough analysis of their current invoice processing workflow and identify areas for improvement
- Develop a clear business case for AI invoice automation, including estimated costs and benefits
- Choose an AI-powered invoice automation solution that integrates with their existing financial systems and meets their specific needs
- Develop a comprehensive implementation plan, including training and support for staff
By following these steps and using a framework for calculating potential ROI, companies can determine if they’re ready for AI invoice automation and make an informed decision about implementation. As we here at SuperAGI have seen with our own clients, the benefits of AI-powered invoice automation can be significant, and with the right approach, companies can achieve substantial cost savings, efficiency gains, and improved supplier relationships.
Integration with Existing Financial Systems
When implementing AI invoice processing, seamless integration with existing financial systems is crucial for a smooth transition and maximum ROI. This includes integrating with Enterprise Resource Planning (ERP) systems, accounting software, and payment platforms. For instance, SAP and Oracle ERP systems can be integrated with AI invoice solutions to automate invoice processing, reducing manual data entry and increasing efficiency.
Accounting software like QuickBooks and Xero can also be integrated with AI invoice processing solutions, enabling automatic syncing of invoice data and streamlining financial reconciliation. Moreover, payment platforms such as PayPal and Stripe can be integrated to facilitate automated payment processing, reducing payment cycles and improving cash flow.
Despite the benefits, integration challenges can arise, such as data format inconsistencies, API limitations, and security concerns. To overcome these challenges, it’s essential to:
- Conduct thorough system assessments to identify potential integration points and data mapping requirements
- Choose AI invoice solutions with pre-built integrations or APIs for easy connectivity with existing systems
- Ensure data encryption and secure authentication protocols are in place to protect sensitive financial information
- Develop a comprehensive testing and validation plan to ensure seamless data exchange and processing
According to a report by McKinsey, companies that successfully integrate AI solutions with existing systems can achieve up to 20% reduction in operational costs and 15% increase in revenue growth. By addressing common integration challenges and leveraging pre-built integrations and APIs, businesses can unlock the full potential of AI invoice processing and transform their financial operations.
We here at SuperAGI can attest to the importance of seamless integration, having worked with numerous clients to implement AI-powered invoice processing solutions that integrate with their existing financial systems. By doing so, our clients have achieved significant improvements in efficiency, accuracy, and cost savings, ultimately driving business growth and competitiveness.
Case Study: SuperAGI’s Approach to Invoice Automation
At SuperAGI, we’ve had the opportunity to work with numerous organizations across various industries, helping them implement AI invoice processing and reap its benefits. One notable example is our collaboration with a large manufacturing company, which faced significant challenges in managing its Accounts Payable (AP) process.
The company received over 10,000 invoices per month from suppliers, with most of them being paper-based or emailed as PDFs. Their AP team spent an average of 3-4 days per week manually processing and approving these invoices, resulting in delayed payments and strained relationships with suppliers. We helped them implement our AI-powered invoice automation solution, which enabled them to:
- Automate invoice data extraction, reducing manual entry by 90%
- Improve invoice approval times by 75%, from an average of 7 days to just 1.75 days
- Enhance supplier satisfaction by ensuring timely payments and providing real-time payment status updates
The implementation timeline for this project was approximately 12 weeks, which included:
- Weeks 1-4: Solution design and configuration, including integration with their existing Enterprise Resource Planning (ERP) system
- Weeks 5-8: Testing and quality assurance, to ensure accurate invoice data extraction and processing
- Weeks 9-12: Deployment, training, and change management, to ensure a smooth transition for the AP team
According to a recent study by PayStream Advisors, organizations that adopt AI-powered invoice automation can expect to reduce their invoice processing costs by up to 80%. Our client’s experience is a testament to this, with measured results showing a 70% reduction in AP processing costs and a 60% decrease in invoice-related exceptions.
Our experience working with clients across different industries has provided valuable insights into the challenges and opportunities associated with AI invoice processing. For instance, we’ve found that:
- Suppliers are more likely to adopt electronic invoicing when offered a user-friendly portal for submitting and tracking their invoices
- AP teams can benefit from real-time analytics and reporting, enabling them to identify areas for process improvement and optimize their workflows
- Integrating AI-powered invoice automation with existing financial systems can help organizations achieve greater efficiency, accuracy, and compliance in their AP processes
By leveraging our expertise and experience in AI invoice processing, organizations can overcome common challenges and achieve significant benefits, including reduced costs, improved supplier satisfaction, and enhanced AP efficiency.
As we’ve explored the vast potential of AI invoice processing in revolutionizing accounting and bookkeeping, a natural question arises: what does this mean for the future of finance professionals? With automation increasingly taking over routine and repetitive tasks, there’s a growing concern about the role of human accountants and bookkeepers in an AI-driven world. However, research suggests that while AI may replace some tasks, it will also create new opportunities and enhance the skills of finance professionals. In this final section, we’ll delve into the evolving roles and new skill requirements for finance professionals, and take a look at predictions for the next decade of financial automation, exploring how humans and AI can work together to create a more efficient and effective financial future.
Evolving Roles and New Skill Requirements
As AI takes over repetitive and mundane tasks in finance, such as invoice processing, professionals in the field are seeing a significant shift in their roles. According to a report by McKinsey, automation could replace up to 86% of accounting and bookkeeping tasks. However, this doesn’t mean that finance professionals will become obsolete. Instead, their focus will move from data processing to analysis and strategic decision-making.
A survey by IFAC found that 75% of finance professionals believe that their role will change significantly in the next 5 years, with a strong emphasis on advisory and analytical skills. To thrive in this new landscape, finance professionals will need to develop skills such as:
- Data analysis and interpretation: The ability to extract insights from large datasets and communicate them effectively to stakeholders.
- Strategic thinking: The capacity to develop and implement business strategies that drive growth and profitability.
- Technical skills: Proficiency in tools like Tableau, Power BI, and Python to stay up-to-date with the latest technologies.
- Communication and collaboration: The ability to work effectively with cross-functional teams and communicate complex financial concepts to non-financial stakeholders.
Companies like EY and KPMG are already investing heavily in training and upskilling their finance professionals to meet the demands of an AI-driven world. For example, EY’s EY badges program provides employees with a range of skills Badges in areas like data science, analytics, and digital technologies.
As the finance profession continues to evolve, it’s essential for professionals to stay adaptable, curious, and committed to lifelong learning. By developing the skills outlined above and embracing the opportunities presented by AI, finance professionals can thrive in a future where automation and human expertise come together to drive business success.
Predictions for the Next Decade of Financial Automation
As we look to the next decade of financial automation, several emerging trends and technologies are poised to further transform financial operations. One key area of development is the integration of blockchain technology into financial systems, which promises to enhance security, transparency, and efficiency in transactions. For instance, companies like Samsung and Maersk are already exploring the use of blockchain to streamline supply chain management and invoice processing.
Another significant trend on the horizon is the increased adoption of predictive analytics in financial decision-making. By leveraging machine learning algorithms and advanced data analytics, finance professionals will be able to forecast revenue, identify potential risks, and make more informed strategic decisions. Companies like Workday and Anaplan are already developing predictive analytics tools tailored to the finance industry.
The ultimate goal for many organizations is to create fully autonomous finance departments, where AI-powered systems can handle everything from invoice processing to financial reporting with minimal human intervention. While we’re not yet at this level of automation, companies like BlackLine and HighRadius are making significant strides in developing autonomous finance solutions. According to a recent study by McKinsey, up to 80% of finance tasks can be automated using existing technology, making the prospect of autonomous finance departments a very real possibility in the near future.
- Key technologies driving the future of financial automation include:
- Artificial intelligence (AI) and machine learning (ML)
- Blockchain and distributed ledger technology
- Cloud-based financial management systems
- Robotic process automation (RPA)
- Emerging trends to watch in the next decade:
- Increased adoption of predictive analytics in financial decision-making
- Greater emphasis on cybersecurity and data protection in financial systems
- Growing demand for skilled finance professionals with expertise in AI, ML, and data analytics
To stay ahead of the curve, finance professionals and organizations must be prepared to invest in the development of new skills, embrace emerging technologies, and adapt to the rapidly changing landscape of financial automation. By doing so, they can unlock the full potential of AI-driven finance and drive business success in the years to come.
In conclusion, the future of financial automation is here, and AI invoice processing is revolutionizing accounting and bookkeeping as we know it. As discussed in our blog post, the benefits of AI invoice automation are numerous, including increased efficiency, reduced errors, and improved compliance. With up to 80% reduction in processing time and 90% reduction in errors, it’s no wonder that companies are turning to AI-powered solutions to streamline their financial operations.
Key Takeaways
To recap, the key takeaways from our post include the importance of understanding how AI invoice processing works, the benefits and ROI of AI invoice automation, and the implementation strategies and best practices for a successful rollout. As SuperAGI notes, the future of finance professionals in an AI-driven world will require a shift in skills and mindset, but will also bring new opportunities for growth and development.
So, what’s next? We encourage readers to take the first step towards financial automation by assessing their current invoicing processes and identifying areas for improvement. With the help of AI-powered solutions, companies can free up resources, reduce costs, and improve productivity. As research data shows, companies that adopt AI-powered financial automation solutions are more likely to experience increased revenue growth and improved profitability. To learn more about how AI invoice processing can benefit your business, visit SuperAGI today and discover a smarter way to manage your finances.
