The benefit of bots
Adoption of RPA among businesses is rapidly growing. In fact, a majority (58%) of large organizations have already embarked on their RPA journey*.
As COVID-19 accelerates the digitization of businesses, CFOs are increasingly looking to RPA to help their finance teams to do more with less. In an Oracle and AICPA & CIMA webcast hosted in July 2020, finance leaders identified automation as one of their top strategies to reimagine their business for the new normal.
If you haven’t yet used RPA to automate finance tasks, it might be because you’re not aware of all the advantages. A McKinsey survey of CFOs** showed that the biggest obstacle to automating finance work is lack of understanding about where the opportunities are.
* Automation with intelligence - Reimagining the organization in the ‘Age of With’, Deloitte ** McKinsey survey of CFOs
Note: The percentages in the chart denote the percentage of total responses, rather than the percentage of respondents who selected a given item. Participants could select any number of items.
Results from a poll of more than 1,000 CFOs and finance leaders conducted in July 2020 during the Agile Finance Reimagined webcast series.
Using RPA creates efficiencies, improves quality and accuracy and can ultimately help to increase profitability. Most importantly, it takes over manual, repetitive and time-consuming tasks so you can focus on value-add activities like data analysis, decision making and strategic business partnering.
RPA can automate significant elements of finance and accounting processes including:
