Finance and Accounting: RPA and Artificial Intelligence to improve processes

Finanza e Contabilità

The finance and accounting departments are most in need of company data. This is why they were amongst the first to experiment with automation in the form of Robotic Process Automation. Thanks to RPA software, it is possible to entrust repetitive and time-consuming operations to a robot, in order to free up staff. 

 

With Robotic Process Automation, it is possible to connect and automate the movement of data from various applications, both accounting and banking, for the effective consolidation of directional reports, uploading transaction data from various subsystems and different formats, and automating workflows, so generating greater process efficiency.

 

Added to this is the potential of artificial intelligence, which is able to analyze numbers, texts and images with extreme precision. In particular, artificial intelligence in the financial sector is useful both for reading the documentation to be recorded and for the possibility of receiving reports through “chat” or “voice” channels.

 

With its advanced technologies, Humable can help finance and accounting departments to solve problems or carry out tasks and activities typical of the human mind and skills. 

So, what does RPA (Robotic Process Automation) mean?

Finanza e Contabilità

These are software technologies that aim to deeply automate back office processes. 

This software makes it possible to emulate the activities of a human resource and interact with existing applications, allowing staff to be relieved of repetitive and routine tasks of an administrative nature, such as the acquisition and insertion of data, controls, etc. 

RPA owes its success primarily to the low cost of ownership, which is also much lower than the cost of offshoring back office services. The cost of a robot is 1/9 of the cost of a normal “in house” resource and 1/3 of an offshore resource.

Automation and AI increases the security and performance of the finance and accounting department

The most visible and important advantages of using intelligent technologies in the finance and accounting sector are: 

 

  • Greater efficiency

 

RPA allows you to record a higher number of documents in the same amount of time, ensuring significant scalability of the solution in the event of sudden work peaks.

 

  • Avoid mistakes

 

Thanks to RPA, inaccuracies and manual typing errors in document registration will be eliminated.

 

  • Answers in real time

 

With chat and voice solutions, artificial intelligence is able, at any time, to provide current reports, regardless of the availability of operators.

 

Do you want to know the tools and services that we can make available to your company?

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