Glossary

Cognitive automation refers to the next generation of process automation, one that combines traditional rule-based systems with artificial intelligence to simulate human reasoning, understanding, and decision-making. It goes beyond robotic process automation (RPA), which only executes predefined actions, by allowing systems to think, learn, and adapt to complex, changing inputs.

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In finance, cognitive automation transforms back-office operations by allowing software agents to process unstructured data, interpret documents, and make contextual judgments, all while remaining auditable and secure. At Phacet, this approach is embedded in the design of every AI agent: they not only execute repetitive tasks such as invoice control or bank reconciliation, but also understand the logic behind them.

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Through technologies like machine learning, natural language processing, and generative AI, Phacet’s agents can extract, verify, and label financial data — learning from every human validation to continuously improve performance. This human-supervised learning loop ensures that automation remains transparent, compliant, and aligned with business rules.

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Cognitive automation empowers finance teams to move from manual oversight to strategic management. Instead of checking every transaction, users focus on exceptions, insights, and decision-making. It’s a step change: automation that doesn’t just do, but understands why it does it.

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At Phacet, cognitive automation is the foundation for a smarter, more resilient finance function, where intelligence, compliance, and efficiency work hand in hand.