Process Automation - Financial and Managerial Accounting

1. Process Automation

2. ID: 131-15-2243

3. Introduction
In a business there is different work needs to be done,
the conventional solution is to either overwork the
people or hire more people to do all the extra work.
But it’s quite tough to keep hiring more people for any
company.
So, we need something to get the same job done,
making operations a lot less complicated and more
efficient. This is where business process automation
(BPA) solutions come in handy.

4. What is Business Process Automation?
Business Process Automation (BPA) is a process of
managing information, data and processes to reduce
costs, resources and investment. BPA increases
productivity through computing technology.

5. Why Business Process Automation?
 Streamline communication in business process
 Enforce accountability
 Minimize costs due to manual errors and inefficiency
 Develop an insight into the evolution and
repercussions of your business process
 Establish a clear approval hierarchy

6. Main techniques for Business Process
Automation
 Extension of existing IT systems
 Purchase of a specialist BPA tool
 Purchase of a Business Process
Management solution with BPA
extensions

7. Advantages of BPA
 Reduces work cycle times
 Automation systems don’t call in sick!
 Saves time
 Reduces costs
 Increases response rate
 Minimizes human error
 Decreases workload

8. Disadvantages of BPA
 It's always difficult to find a right tool for it.
 Heavy Capital Investment
 Displacement of Labor
 Benefit of Employee Suggestion Lost
 Tighter specification may be needed
 Costs of Supply Failure Increase

9. Conclusion
In the world of business, time is money, and the more
time businesses can save, the more opportunities there
are to make money. The best way to think about this is
business process automation benefits not only the
employees (decreasing workload), but the organization
as well (increasing the bottom line).