Avoid Costly Integrations

Finance and Accounting systems can offer a high degree of integration to the suppliers, vendors, partners, and customers that are part of the ecosystem of any organization. However, integrations even when using more contemporary integration methods, can be expensive to develop and costly to maintain. Beyond the most critical of integrations, organizations cannot justify the cost of integrating with every system.

RPA can be a leveraged as a great way to provide an alternative to these costly system-level integrations.

Reduce Cost Associated with Manual Tasks

Many of the upstream and downstream tasks in an organization's Finance and Accounting function still require manual processing. These are not one time tasks, but rather, these are tasks that have to be performed regularly. Even with organizations employing BPO strategies with offshore partners, the cost of these repetitive tasks can grow as the organization grows. RPA can further impact this cost reduction equation by offloading these repetitive tasks and performing them on a 24x7 basis at no additional cost.

Reduce Errors

There is generally a high error rate in data entry tasks when there are a high number of manual steps associated with a process. Overworked team members trying to keep up with a large volume of manual tasks tend to make more mistakes, especially when dealing with repetitive mundane tasks. These errors can create re-work which can further add to the cost, or worse, can be costly due to material impact on the business if they go without being corrected.

Faster Access to Data

As organizations look for a higher level of agility in decision making, there is a need for faster access to collated data for decision making. RPA can give organizations the ability to process data extracts and apply the appropriate programmatic adjustments based on business rules in a very efficient manner.