ROBOTIC PROCESS AUTOMATION FOR ACCOUNTING AND FINANCE

robotic process automation rpa
robotic process automation rpa

RPA for Accounting and Finance Processes

Though Robotic Process Automation (RPA) is making a sweeping impact on businesses across the board, there are certain industries and functions that are more susceptible for a software automation implementation. Accounting and finance, encompassing various manual and repetitive processes, is one of the major automation-prone business functions today.

What’s the Impact?

Between payroll processing, procurement, and reporting, various mundane tasks bog down accounting and finance departments on a daily basis. This significantly hinders human capital and innovative thinking within these departments and makes repetitive tasks more susceptible to human error.

A RPA implementation can close the financial digitization gaps present within many organizations, reducing employee turnover and costs while increasing ROI. An implementation also enables the accounting and finance team to play a part in your RPA Center of Excellence (CoE), which is especially impactful for customer-facing department representatives.

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Our major, fast-food franchise, restaurant client automated key financial reconciliation processes, their digital sales process, and accounts receivable statements across their 800+ stores. This resulted in a time savings of 85% across those respective activities and cost savings of $60,000 per year.

Financial Reconciliation Process Automation Case Study

Digitizing Accounting and Finance Operations

  • Improve productivity
  • Reduce operational costs
  • Maintain compliance
  • Ignite innovation by reducing stagnancy

Practical Applications for Accounting and Finance Automation

  • Invoice Processing: Extract information from vendor invoices and purchase orders without human intervention.

  • Payment Processing: Automate payment validation and reconciliation while staying notified of all important details.

  • Customer Onboarding: Automate the process of onboarding new customer data such as forms, invoices, and sales orders.

  • Tracking Compliance Mandates: Respond and track changing compliance mandates while maintaining accurate reporting.

Demos, Use Cases and Resources

As UiPath and Automation Anywhere implementation partners and resellers, we’ve gained extensive experience implementing RPA into the processes of enterprise-level accounting and finance departments. Explore our insights below to see our solutions in action.

Intercompany Stock Transfer Process With Robotic Process Automation

Our RPA experts can help you identify candidates for automation.

Contact the RPA team

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