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Robotic Process Automation Suits Finance and Accounting

Robotic process automation is a relatively new term in the software industry. It describes the use of programming or analytical algorithms to execute the most appropriate action in an automated workflow, without human intervention. Simple process automation manages workflows within a single application. An RPA system, by contrast,

  • Automates the execution of a process within one or across multiple systems
  • Can act on data from one or multiple sources
  • Manages or interprets the data according to established rules
  • Can communicate the result to another digital system or create an alert.

RPA systems can make organizations more efficient by “outsourcing” repetitive tasks to digital systems. Moreover, just as robots in manufacturing can perform repetitive actions more consistently than humans, RPA systems can improve the quality and accuracy of work and shorten cycle times. In cases where they enable skilled employees to concentrate on matters requiring their education, experience and judgment, they also can make an organization more effective.

 
 

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