Invoice Processing Automation for Financial Services
Transform your financial services invoice processing automation with custom automation built by Harvard-educated experts. Measurable outcomes in 4-8 weeks, backed by 98% client retention.
Expected Outcomes
Measurable results our financial services clients achieve with invoice processing automation.
Every compliance-related cost is correctly classified and tracked, ensuring accurate reporting for ASIC and internal compliance reviews.
Costs allocated to individual advisers provide clear profitability metrics that were previously obscured by lumped cost centres.
Automated capture and routing reduces the administrative burden on practice managers who previously handled AP alongside client-facing responsibilities.
The Challenge
Common invoice processing automation challenges facing financial services businesses.
Compliance-related costs from licensee fees to PI insurance are scattered across multiple invoices and not tracked as a category, making ASIC reporting painful
Adviser-level cost allocation is rarely done accurately, making it impossible to assess individual adviser profitability
Practice managers handle accounts payable alongside client-facing work, leading to delayed processing and missed payment deadlines
Client-billable disbursements, such as paraplanning fees and compliance searches, are not consistently recovered from clients
Implementation
How we implement invoice processing automation for your financial services business.
Vendor and Compliance Invoice Capture
Invoices from software platform providers, compliance consultants, professional indemnity insurers, and ASIC filing services are captured from email and vendor portals.
- ✓ Tools: Xero, Google Drive, Make
Licensee and AFSL Cost Allocation
Invoices are allocated to the correct cost centre, distinguishing between licensee-level costs, adviser-level costs, and client-billable disbursements.
- ✓ Tools: Make, Google Sheets, Xero
Compliance Review and Approval Chain
Invoices are reviewed for compliance-related expenditure classification and routed through the appropriate approval chain per AFSL internal policies.
- ✓ Tools: Slack, Make, Xero
Payment Processing and ASIC Reporting
Approved invoices are processed for payment with a complete audit trail. Compliance-related costs are tagged for inclusion in ASIC annual reporting.
- ✓ Tools: Xero, Make, Google Sheets
Why Choose Clever Ops
What makes our invoice processing automation solution different.
ASIC-Ready Compliance Cost Tracking
All compliance-related expenditure is automatically classified and compiled, simplifying ASIC annual reporting and internal compliance reviews.
Clear Adviser Profitability
Costs are allocated to individual advisers, giving practice principals accurate profitability data for each adviser in their business.
Disbursement Cost Recovery
Client-billable costs such as paraplanning and compliance searches are automatically tagged for recovery, reducing revenue leakage.
Practice Manager Time Freed Up
Automated processing lets practice managers focus on client relationships and compliance rather than chasing invoices and data entry.
Financial Services Compliance
Built with ASIC regulatory requirements, AML/CTF compliance, and AFSL obligations in mind. Includes audit trails meeting APRA prudential standards.
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Frequently Asked Questions
Frequently Asked Questions
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