Accounting Robotic Process Automation

RPA in Accounting

Robotic Process Automation (RPA) in the finance and accounting industry is the method of employing Robots to aggregate, consolidate and reconcile transactions. We are not talking about the replacement of accountants, but the augmenting of Robots into their work practice to provide a better overall solution.

An example accounting type process used at NHS Wales demonstrates a common interaction and ‘handoff’ of information between different parties and applications. Before the robots automated large proportions of this lifecycle, the manual 6 hour process now takes only 10 minutes.