The next industry where Robotic Process Automation can play a significant role is in Finance. EY have put together an insightful summary on the impact of robotics led finance functions and the way this industry can leverage automation.
They call out the following processes:
1. Bank Reconciliation
2. Sales Ordering and Invoicing
3. Fixed Asset Management
4. Financial and External Reporting
5. Inventory Management
6. Receivables Management
7. Payable Management
8. Financial Statement Closing
9. Tax Planning and Accounting
The returns are impressive and they cite 60% – 80% cost reduction for all processes with data input and the same improvements in data quality control and management.
Feel free to take a look and let us know if you are interested in seeing how fourTENS can help you gain the upper hand in getting your Financial data in hand.
We look forward to hearing from you.