Eesti Gaas’s Experience
With OIXIO’s banking interface, manual recording of bank transactions is a thing of the past. Learn how Eesti Gaas transformed its finance operations with this powerful solution.
In large companies, sending payments to the bank and reconciliating bank statements and accounting entries manually can take up an insane amount of an accountant’s day. Operating in five markets, Eesti Gaas is the largest privately owned energy company in Finland and the Baltic region, with a customer base of hundreds of thousands, and many banking transactions. To automate daily tasks, the company implemented in over ten of the group companies OIXIO’s banking interface, that works seamlessly with Microsoft Dynamics 365 Finance and Operations ERP system.
According to Janne Magnus, Chief Accountant of Eesti Gaas Group, they can’t even imagine processing bank statements manually anymore.
“The banking interface has freed up valuable time for us, making our accounting workflow much more efficient.”
Janne Magnus
Initiate payments and track receipts right from the business software
OIXIO’s banking interface makes the exchange of payments and account statements with the bank fast, safe and convenient.
The banking interface is compatible with all major banks in Estonia, allowing you to initiate and sign payments without leaving the software and see the status of payments in real-time. Payments are made via a secure channel between the business software and the bank, and the user does not need to store the payment files on their hard drive or log on to the online bank separately.
Given that large companies make hundreds or even thousands of payments a day, the banking interface helps to significantly automate these processes and save on working time.
Since large companies handle hundreds, and sometimes even thousands, of payments each day, the banking interface significantly automate these tasks, saving valuable work hours.
The banking interface helps automate the processing of bank statements
In addition to automating payments, the banking interface allows automatically import account statements into the business software. The automatic reconciliation process implements customised compliance rules for each company and creates the necessary accounting entries, ensuring the correct entry of complex transactions in the business software. The accountant will only have to check and confirm the results.
This means that employees no longer have to deal with compiling payment files, uploading them to various online environments of the bank or processing the account statements on a daily basis.
OIXIO’s banking interface is built to automate these labour-intensive processes in Microsoft Dynamics 365. Processes that previously required extensive manual work are now handled automatically and seamlessly, thanks to the banking interface.
Want to learn more about our banking interface?
Contact us or read more about the banking interface.
OIXIO Group