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RPA Workflow Automation for Accounting Firms

According to a 2019 Economist survey, 59% of Finance and Accounting leaders believe Robotic Process Automation will make their business more competitive. RPA helps organizations boost productivity, drive down costs, and streamline compliance.

It frees more time for teams to act proactively and focus on value added work that brings revenue to the business.

Most Accounting and Finance functions are rules-based, making them prime candidates for RPA. Some areas in which we have seen notable results deploying RPA for F&A functions include:
  • Sales quote generation
  • Invoice distribution
  • Order data validation
  • Payment matching and processing
  • Travel and expense processing
  • Financial statement preparation
  • Updating treasury systems
  • General ledger updates
  • Financial planning and forecasting
  • Tax reporting
  • Vendor invoice processing
  • Vendor payment management
  • Cash application
  • Logistics management

Automate Accounting Processes on Top of Your Existing RPA

RPA offers a less intrusive way to digitize your F&A operations, delivering the ability to automate processes on top of your existing systems and aggregate data across all fintech applications.

RPA can also help minimize business risk by enabling faster, more accurate reporting and the ability for teams to proactively respond to evolving compliance mandates.

From an auditing standpoint, RPA allows accountants to operate at a much higher level and improve audit quality. The technology is able to digitize mundane tasks within the audit process previously performed manually, and supports the reengineering and standardization of audit processes across an organization.

How to Pick the Best RPA Tools for Your Business_blog

With agile organizations under pressure to optimize costs, generate higher ROI, and continuously improve productivity, RPA is quickly becoming a point of focus for finance and accounting teams.

According to Gartner, around 80% of finance leaders have already implemented or are planning to implement the technology. License-free RPA can deliver game-changing results to these organizations, helping to improve speed and efficiency, reduce manual effort, and improve bottom line.

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