In recent studies from Forrester and the Hackett Group, RPA is addressed as ‘one of the most disruptive forces in human history’ and they predict this trend to continue as companies are forced to improve productivity and performance. As the new ‘digital workforce’, robots are fast and reliable. They make few mistakes and are available 24/7.
Recently, Forrester noted that most of the investments they see going into RPA, is in the area of operations like finance and accounting. Interesting to notice is that with RPA, business units as finance and accounting are more likely than usual to deploy and manage this technology themselves, instead of the IT department.
How to ‘add’ RPA to your already automated financial processes?
For the remaining tasks that have historically been difficult to automate, RPA can provide certain benefits. For example, it covers automation gaps. Every business has unique aspects to their workflow that enterprise software doesn’t automate, such as customizations or integration with unsupported third-party applications. On the side of Accounts Payable, companies often have to pull from or send invoices to a portal for AP and AR. You may have to extract only a few hundred invoices a month, so the process remains manual since it would be costly and time-consuming for IT to build an integration. RPA can automate that process very quickly and affordably.