Innovative AI-powered financial automation solutions help firms optimize cash flow and drive operational efficiencies

DULLES, Va., May 9, 2024 /PRNewswire/ -- Unanet, the leading provider of project-based enterprise resource planning (ERP) and customer relationship management (CRM) solutions for the government contracting (GovCon) and architecture, engineering, and construction (AEC) industries, today unveiled a set of AI-powered financial automation innovations within its award-winning ERP solutions.

These new enhancements alleviate pain points that many firms experience in managing business-critical workflows via manual, error-prone processes by giving them new tools to automate and streamline accounts payable and receivable processes, and to better manage and track spending. Just as important for customers, Unanet developed these capabilities as user-friendly and seamless experiences within its ERP systems.

"These are capabilities that growing GovCon and AE businesses must have to optimize their finance operations, make smarter strategic decisions, and operate more efficiently and profitably. These new solutions will dramatically improve the overall health and financial well-being of our customers' businesses," said Assad Jarrahian, Chief Product Officer for Unanet. "Best of all, these features are designed by Unanet, and work seamlessly within the familiar Unanet ERP environment."

Many GovCon and AE firms struggle with manual, paper- or spreadsheet-based invoicing, accounting, and finance operations. These inefficiencies delay payments, invite errors, and consume employees' time with repetitive, low-value tasks rather than strategic work.

Unanet's new financial automation products eliminate these issues and include embedded security measures to safeguard vendor and customer data:

• Accounts Payable Automation. This all-new AI-powered AP product improves customers' invoice handling, data review, and accounting workflows, resulting in greater financial control, fewer errors, and a tighter procure-to-pay process.
• Accounts Receivable Automation. Available in Unanet's GovCon and AE ERP solutions, AR Automation streamlines end-to-end workflows, from invoice tracking and delivery through the payment processing and reconciliation, so businesses get paid faster and more efficiently.
• Spend Management. All-new ERP integrations and workflow automation solutions with Mesh Payments, a leading unified travel & spend management platform. Launching later this year, Unanet ERP customers will have direct, seamless access to Mesh's powerful enterprise-wide spend management, integrated corporate card, and insights platform for both employee and procurement spend.

"Rather than chasing invoices and receipts, customers can use these new functions to free themselves of arduous finance and accounting tasks, and to tighten AR/AP processes so they get paid faster, pay their own vendors promptly, and track spending more accurately," explained Jarrahian.

"Financial leaders are actively seeking solutions that champion ease, integration, and global reach," said Oded Zevahi, co-founder and CEO of Mesh Payments. "We are thrilled to partner with Unanet and to bring Mesh's innovative platform to GovCon and AE businesses looking to modernize their travel and expense management operations."

Consistent cash flow is the lifeblood of any business, making accurate, speedy billing and payments critical. GovCon respondents of the GAUGE Report indicate their days sales outstanding (DSO) can be anywhere from 31 to more than 45 days. AEC firms report similar DSO metrics in Unanet's 2022-2023 AEC Inspire Report.

The innovations to Unanet ERP change that dynamic, empowering firms to:

• Improve cash flow management
• Eliminate time-consuming and error-prone manual tasks
• Fulfill their financial obligations
• Meet their working capital needs
• Bolster strategic planning with more accurate, real-time data
• Manage risk
• Streamline compliance and reporting.

To learn more about Unanet's financial automation tools and enhancements, please visit https://unanet.com/erp-for-a-e/erp-for-a-e-overview .

About Unanet
Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for government contractors, architecture, engineering, construction, and professional services. More than 4,000 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, maintain regulatory compliance, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. For more information, visit  www.unanet.com.

View original content:https://www.prnewswire.com/news-releases/unanet-delivers-new-financial-and-accounting-tools-for-its-erp-customers-302140787.html

SOURCE Unanet