2. INTRODUCTION
• Robotic process automation -- or RPA --
bots don't need a coffee break, they don't
get tired and they don't lose focus after
the 100th math problem
• In other words, RPA is great for some of
those peskier tasks finance and
accounting teams don't like to do..
• The first challenge is how to get data into
these systems and the second was how to
close financials at month's end,. "Many
are now finding that RPA provides the
means for organizations to finally address
and solve these problems,.
3. How RPA Works
• RPA uses AI capabilities to reduce errors
and execute repetitive, high-volume work.
And it doesn't need to automate an entire
process to be useful. Instead, it can
automate certain parts of a complicated
process involving numerous steps, and
that has been a major driver of its use.
• RPA is likely to be widely adopted as a
means of automating tasks in the order-
to-cash and procure-to-pay processes.
• Project leaders can start by inviting a few
people from a finance team into an
automation lab for a few days a month to
practice putting new bots into a
production environment.
4. OPPORTUNITIES EVERYWHERE
• RPA consists of software robots, or bots,
that represent a pattern of reusable
automations for tasks and processes. Bots
mimic some functions humans typically
do, such as reading a screen in one
application, copying the appropriate text,
and then pasting it into another
application.
• RPA has an advantage in that it can access
any application that a human can, which is
not always possible or easy with these
other technologies. To understand how
RPA is used in the real world, here's a look
at nine use cases for accounting and
finance
5. Automating governance
• Comparing account balances between
systems is a critical -- but often tedious --
function. One of the biggest gains can
come from using RPA to improve journal
entry and subsequent financial account
reconciliations,
• For example, sub organizations can have
different templates, processes and
approval flows. Some processes might
involve functions within an ERP system.
Some might involve audit and compliance
requirements of identifiability for
transactions, along with all the..
6. Reconciling accounts
• RPA can also help organizations move
forward with their agility and digitization
efforts while contending with the legacy
elements that come with ERP.
• Modernizing the processes adds agility that,
without RPA, would either be almost
impossible to achieve or would require a
major overhaul of the ERP itself.
• “RPA can be a bridge to a future state. "[It]
can help be that interim solution that's more
economical and can address the near term
7. PROCESSING INVOICES
• IT teams cannot easily integrate all new
applications with ERPs as those systems age,
which may create layers of mundane work
for human workers.
• It's that kind of repetitive, tedious work that
workers are tasked to do but is very
inefficient where RPA is very useful.
• RPA can easily go from application to
application or system to system, replicating
data entry and replicating the thinking of
the two systems, and because it's a bot it
won't make a mistake and it will always do
what it's programmed to do
8. PO PROCESSING
• Although RPA can improve processes that
involve the ERP system and can add speed to
enterprise architecture, experts cautioned
against using the automation technology to
prolong a legacy system that no longer serves
the organization.
• "RPA is a way for companies to help move
forward with their digital transformation
goals and to do that in a cost-effective
manner
9. REMEDIATING DISCREPANCIES
• We at School Of RPA do not see RPA as a way to
patch holes in an old ERP or to extend its life
beyond what's beneficial to the company.
• We sees RPA as a valuable tool for generating
business value, but not a tool for IT to use to
support outdated tech, organizations should
continually evaluate whether their ERP system
continues to serve business needs or whether
it's holding them back before they move
forward with an RPA
10. Processing cash data
• We at School Of RPA do not see RPA as a way to
patch holes in an old ERP or to extend its life
beyond what's beneficial to the company.
• We sees RPA as a valuable tool for generating
business value, but not a tool for IT to use to
support outdated tech, organizations should
continually evaluate whether their ERP system
continues to serve business needs or whether
it's holding them back before they move
forward with an RPA
11. Ensuring Vendor Contract Compliance
• We at School Of RPA do not see RPA as a way to
patch holes in an old ERP or to extend its life
beyond what's beneficial to the company.
• We sees RPA as a valuable tool for generating
business value, but not a tool for IT to use to
support outdated tech, organizations should
continually evaluate whether their ERP system
continues to serve business needs or whether
it's holding them back before they move
forward with an RPA
12. Reporting P&L
• We at School Of RPA do not see RPA as a way to
patch holes in an old ERP or to extend its life
beyond what's beneficial to the company.
• We sees RPA as a valuable tool for generating
business value, but not a tool for IT to use to
support outdated tech, organizations should
continually evaluate whether their ERP system
continues to serve business needs or whether
it's holding them back before they move
forward with an RPA
13. MANAGING DATA ACROSS MULTIPLE SYSTEMS
• We at School Of RPA do not see RPA as a way to
patch holes in an old ERP or to extend its life
beyond what's beneficial to the company.
• We sees RPA as a valuable tool for generating
business value, but not a tool for IT to use to
support outdated tech, organizations should
continually evaluate whether their ERP system
continues to serve business needs or whether
it's holding them back before they move
forward with an RPA
14. Want to sign up for our course?
Contact us on
Phone :+91 900 480 9189
Email: info@schoolofrpa.co.in
Online Instructor Led Training
Certification
Flexible Timings
Placement Assistance
15. to our channel and click on Bell ICON
To watch Our upcoming Video