Achieving Quick Wins through Process Automation

Achieving Quick Wins through
Process Automation

There are many processes that could be automated through RPA. However the appetite for change of each company is different. Each company needs to consider their resources (both financial and non-finacial) and prioritise which processes would be most meaningful to automate first. The key data points gathered from our pilot project below provides guidance on where to begin.

Achieving Quick Wins through Process Automation

Expected outcomes of automation

Process categoriesSample process to automateExpected time savingPre-requisite
Entering invoices and other client data into accounting system
  • Account Payable invoice data entry

  • Account Receivables invoice data entry

  • XBRL data entry and submission

  • 20-80% savings for AP invoice data entry

  • 50-70% savings for AR invoice data entry

Digital invoices and/or high quality scans of invoices
Preparing management reports
  • Generating financial reports

  • Refomatting generated financial reports into a single report document

  • Sending out notification and report document to be validated by supervisor

  • Up to 40-70%

Standard format for financial reports and report documents
Processing of payments
  • Compiling payment list

  • Processing of payments in digital bank system

  • Recording payment into the system

  • Up to 20-50%

Requesting missing client data
  • Generate automated email with key customisation for clients

  • Up to 60%

What other benefits can I get out of automation?

Better data accuracy

Better data accuracy

  • Our pilot has shown that outputs using RPA are more accurate compared to tasks carried out manually.
  • This results in time savings during the review process for both the bookkeeper and the reviewer.
  • This allows reviewers to spend more time on complex issues that require expertise.
Process standardisation

Process standardisation

  • Due to automation being introduced to the process standardisation occurs due to processes becoming automated.
  • This ensures that all naming conventions and file location conventions are followed for all reports.
  • This will have incremental time savings throughout the accounting process.
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