How Can RPA Be Assigned into Finance and Accounting?

November 23, 2020
How Can RPA Be Assigned into Finance and Accounting?

Many businesses, from corporate companies to SMEs and startups, have started to automate some of their tasks with RPA systems nowadays. RPA has started to be preferred in a wide range of fields such as health, e-commerce, social media, finance and accounting. RPA systems may become one of the most preferred solutions, especially in finance and accounting. So, what tasks can we automate with RPA systems in the finance and accounting areas?

Automate Accounting Tasks

There are many repetitive tasks in the accounting departments of businesses and these tasks have to be carried out with great care. Automating these tasks prevents financial losses that may be caused by mistakes. So, which tasks can we automate?

Companies selling their products, domestically and internationally, send the products via logistics processes. These processes require invoicing and monitoring activities such as shipment tracking, supplier tracking, ERP, shipment delivery not invoices. If we want to automate these processes, we can start by automating the invoices. Automatically preparing shipment invoices and completing return processes automatically will give great comfort to the accounting department.

Payment tracking, tax accounting, company financial reports can also be automatized. They can be shaped according to the requirements of tasks. For example; payments can be automatically monitored and notified in case of a delay. Money order and EFT information can be automatically received via e-mail and payments can automatically be made. Financial reports that need to be prepared every month can be automatically created with registered data. These reports will be available on the desktop of your computer at the end of each month.

Automate Finance Tasks

Automate Finance rpa

Today, many companies in the banking and finance areas automate a lot of processes with artificial intelligence systems. Today, many banks can perform their processes via voice assistants. So, which tasks can we automate in the finance industry?

Many companies in the finance industry follow the stock markets because of their jobs. They have to follow stock exchange, foreign exchange and gold exchange prices. In addition, making accurate prospective predictions puts an important responsibility on them. Mistakes can be minimized by automating this highly critical and sensitive situation. Live stock exchange, foreign exchange and gold exchange prices can be monitored with automation. When something unexpected occurs, they can be informed via notification or e-mail. Systems built for predicting the future values of stocks, foreign exchange and gold rates with machine learning algorithms can make accurate predictions with minimum error.

All processes that we make with internet banking and voice assistants of banks are RPA products. Tasks like bill payment, EFT, money order transactions, card activations, stolen card and fraudulent activity notifications are all carried out by RPA systems. Especially banking and finance fields contain highly sensitive tasks and errors are minimized thanks to RPA systems.

Prevent Financial Losses With RPA Systems

By entrusting your tasks requiring minimum number of errors to RPA systems, you can protect your business from financial losses, and increase your business graph by increasing customer satisfaction. Contact Robomotion now to get more information on RPA systems.

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