In the world of finance and accounting, automation is becoming the difference between unsuccessful and highly successful business operations.
Automation in the Financial Services Market
In a saturated financial services market, a move towards virtual service delivery is a key component in maximising efficiency and driving down costs, all while tightening security and delivering the best customer experience to your clients.
Nowhere is this more evident than in the delivery of services where a high degree of human involvement is manual and repetitive tasks, resulting in slow turnaround and the constant risk of errors and discrepancies.
As the demand for online and mobile services continues to surge, the challenge for companies will be to adopt a virtual workforce alongside their employees that can handle everyday tasks from customer onboarding and invoicing to payment processing, reporting and exception handling.
Robotic Process Automation
Robotic Process Automation has helped accountants and finance professionals minimise the human intervention required by automating many mundane tasks involved in daily transactions.
The compliance and credit checking required for new customers can be realised in seconds, allowing seamless and contactless onboarding with RPA long and drawn-out customer onboarding quickly becomes a thing of the past.
The intensive manual effort required in invoicing and payment processing can also be fast-tracked by RPA through intelligent data extraction by analysing and extracting insights from customer documents. This ensures that invoices and payments don’t sit on Office seats or inside filing cabinets but are automated and processed on time and error-free.
How can RPA Assist Finance Professionals?
Where finance professionals used to spend large portions of their working day manually pulling customer data, generating invoices and processing payments, RPA actions can reduce the team’s workload considerably while vastly decreasing processing turnaround times.
But automation doesn’t just stop at churning the numbers. As a finance professional, you want the ability to analyse data, get behind the numbers and unlock new opportunities.
Data Analytics powered by RPA allows you to generate a rich visualisation of data across multiple sets, identifying patterns, missed potential and new avenues for revenue growth.
Through Microsoft Power BI, you can handle and organise your data far beyond what is possible with spreadsheets to track the most important metrics of your business.
By operating within a cloud environment, your team has access to the resources they need within seconds in a private and secure data centre. At the same time, collaboration reporting and analysis can be executed in any shade, anytime, anywhere.
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Maximise efficiency and reduce business costs with RPA. Automate your daily mundane tasks.