Robotic Process Automation for FPA
The key to many smart automations
Mature solutions for automating financial processes such as accounts payable usually bring an automation level of over 80 percent. The automation range includes the intelligent capture as well as the workflow routines directly linked to it.
But now you can extend the range considerably. The rapid development of Robotic Process Automation (RPA) makes it possible to transfer the captured values to other segments of automated financial processes, such as sales order processing.
The two key benefits of RPA
1. More comprehensive automation options
Many companies' processes have procedural details that cannot be incorporated into automation using traditional enterprise applications - not even through customization or third-party solutions. In such cases, RPA can fill the gaps in automation and remove the manual process hurdles.
2. Automation of manual processes with low relevance or frequency
In some special cases, automation simply hasn't been worth it until now. Thanks to rapid developments in RPA technology, you can now automate even relatively rare exceptions so easily that automation quickly pays for itself. This applies to the following areas, for example:
- Automation of general ledger account setup
- Posting an assignment in the general ledger
- Validation and updating of supplier master data
- External verifications such as verification of VAT identification number
- Automation or simplification of monthly closings
RPA can generate immediate benefits when it comes to automating financial processes - not just in the finance department, but across the entire enterprise. Other possibilities that RPA offers you are, for example:
- Avoid costly disruptions within the supply chain through weekly reports with relevant information on vendors and suppliers.
- Discover savings potential in purchasing, in which bots aggregate data and check purchase prices.
And you realize all these benefits without having to deal with analyzing the data yourself.
Integrated or generic RPA – which is the right approach for you?
Deep integration into existing systems or high variability - choosing between them is not easy. We can help you decide, while also showing you how to combine the two approaches: a networked RPA solution deeply embedded in core systems combined with generic RPA - this enables deeper integration and greater reach at the same time. In doing so, each option has specific advantages:
Talk to the RPA specialists at avvaneo
avvaneo's RPA specialists will help you find the optimal match between RPA and financial process automation. Whether you want to get a first impression on the topic of RPA or already have concrete plans, let us advise you in more detail on Robotic Process Automation and support you in a successful implementation.