Robotic Process Automation for Finance
Reduce costs, boost productivity, improve compliance and leverage cutting-edge data management tools
It offers solutions for minimising risk through reporting and a proactive approach, and allows companies to automate processes even in fragmented finance systems. Specific use cases include data collection from various storage formats (such as emails), reporting, support for order entry processes, data validation, uploading bank account balances, and document distribution.
The routine work typical for accounting and finance operations can be extremely detrimental to employees’ morale and levels of stress. Additionally, teams busy handling repetitive tasks don’t have the capacity required to act proactively and make strategic decisions.
RPA can not only automate all rules-based processes and integrate easily with existing systems, it does so with very little effort on the part of human employees. Visual drag-and-drop features for building automated workflows make the technology a breeze to set up and scale.
Highly repetitive work that requires little to no analytical thinking makes for an environment that’s unlikely to spark innovation. Processing customer forms, data aggregation, supplier follow-ups and ERP management weight down on finance teams, preventing organic growth.
With RPA supporting them behind the scenes, employees can focus on high-value tasks and strategic thinking, such as advisory support or in-depth analytics. 59% of finance & accounting leaders expect to make their business more competitive through RPA.
Customer acquisition, document validation, and cash conversion are all processes that involve rote, high-volume tasks and manual data manipulation. The latter especially introduces a high potential for human error, which can result in noncompliance issues.
RPA can automate invoice processing to speed up workflows and improve overall efficiency, while reducing risk of error and boosting accuracy at the same time. Because a digital workforce never rests, it can also help in preventing delays.
Set up fast-response security controls, eliminate unauthorized access, and detect security issues before they become a problem.
Take advantage of RPA’s high cost efficiency and fast ROI, saving 25-80% on current operating costs.
Deploy a digital workforce that operates 24/7, 365 days a year, and doesn’t make mistakes.
“RPA offers a number of highly efficient solutions for finance and accounting processes. Data from various sources can be easily consolidated into a unified format. Data manipulation - collecting information from emails, transferring it between systems, extracting it as reports - can become very simple and fast, giving employees immediate access to the data they need. Finally, any structured, rules-based workflow can be automated, as RPA isn’t dependent on existing infrastructure. This can mean a huge increase in effectiveness and cost reductions.”
Lukasz Chojnowski, CEO at AnyRobot