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Mistakes in dataentry, misinterpretation of handwritten notes, or even the misplacement of entire claims were not uncommon. As the broader world began to recognize the potential of computer technology, so did the medical billing realm. The primary vehicle behind this transformation was the Electronic Data Interchange (EDI).
The integration of Artificial Intelligence (AI), cloud-based data storage solutions, and data analytics tools is set to transform the audit industry, reshaping the way accountants and auditors carry out their tasks. Automation obviates labor-intensive tasks like dataentry and analysis.
AP automation fits into what I said earlier about not just allocating financial resources well, but allocating human resources very well. By automating a manual process, companies can get more out of their employees and have them focus on high-level tasks instead of dataentry. I keep hearing about blockchain technology.
Real-World Application : This method is particularly suited for consultative selling in sectors like business consulting or financialservices. Understanding their goals and challenges, and aligning your service as a solution that helps them mitigate risks while achieving their expansion plans, is where GPCTBA/C&I shines.
Fintech” is short for financial technology. If a company uses AI to automate routine tasks like dataentry and customer service inquiries, it can save valuable time and resources. AI can enhance automation and help create operational efficiencies in industries including fintech.
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