Automation in Accounting and Finance
As the roles of CFOs and other finance leaders continue evolving to keep organizations on a proactive, future-oriented path, RPA has become more significant than ever.
According to a 2020 Gartner estimate, about 80% of finance leaders have implemented or are planning to implement RPA. RPA mimics human actions to carry out the lowest-value work that typically consumes the largest amount of energy, allowing finance professionals to focus their efforts on more strategic, value-added activities. Finance, with its accounting and procurement departments, is a business area heavily reliant on rules-based processes, thus making it ideal for automation.
RPA can transform routine F&A processes that involve predictable manual work and large amounts of data to be processed and collected – think procure to pay, record to report, and controllership processes. Automation can transform these structured processes with little to no manual intervention, delivering increased productivity, accuracy, and speed. Not only does RPA bring hard cost savings, but it also relieves companies of much of the time spent manually moving, collating and posting data between systems.
See the benefits of automating your finance processes with RPA.
Improve Cash Flow
Streamline the accounts payable and accounts receivable functions by automating invoicing and reconciliation tasks.
Create Business Resilience
Keep your organization prepared to adapt to change by eliminating repetitive, manual, document- and data-intensive tasks.
Automate manual processes and data validation checks to improve the efficiency of financial operations.
Minimize Business Risk
RPA enables faster, more accurate reporting, and allows finance organizations to proactively respond to changing compliance mandates.
See your organization’s critical F&A processes transformed with the power of RPA bots.
Customer Onboarding & Invoicing
Process customer forms, master data, aggregates invoice data and triggers invoice on sales order and goods receipt.
Financial Planning & Analysis
RPA aggregates and consolidates critical financial data for budgeting and forecasting, performs variance analysis, and can prepare management reports.
Sales Order Processing
RPA can automate the collection of sales orders sent from various sources and in any format; bots are also able to extract sales order information accurately to reduce order entry times, errors, and costs.
Cash reconciliation and reporting processes are critical to understanding the current cash position of an organization at any point in time. RPA automates these manual consolidation and reconciliation-based tasks to improve the accuracy and timeliness of cash position reporting.