Robotic process automation (RPA) technologies can automate manual finance processes. Many organizations are confused about what their actual processes are. RPA is just one way to automate processes, and it has no finance best practices embedded in toolsets. By 2020, robotic process automation will eliminate 20% of non-value-added tasks within the office of finance. The key challenge for organizations is knowing when to use RPA and when not to. The author recommends using RPA in finance and accounting where people have been performing the routine work of collating, rekeying and posting data.
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When and How to Use Robotic Process Automation in Finance and Accounting