Today’s fast-paced business and economic landscape requires nimbleness in order to meet the ever-changing needs of customers. In order to achieve this, organisations require processes that are efficient and effective. With the latest technological advancements, like Robotic Process Automation (RPA) the task of being quicker, efficient and effective is not so far off.
An organisation’s finance function is likely to see immediate tangible benefits from implementing RPA, these include; cost savings, increased productivity, and better visibility and control of organisational processes. The non-invasive nature of RPA is such that it can be integrated with the existing IT infrastructure rather than ripping and replacing it.
The finance function has been at the forefront of RPA adoption since 2013, and we’re likely to see further rapid growth in the coming years particularly in regards to Finance & Accounting (F&A) Outsourcing.
RPA boasts a multitude of benefits, such as;
1. Cost reduction
Implementing RPA can result in reduced cost in the region of 30-65% and 10-30% for onshore and offshore operations respectively.
2. Management of rule-based processes
70-80% of rule-based processes can be managed with great ease.
3. Quicker return on investment
The implementation costs can be recovered within 6-9 months.
4. Non-invasive nature
Due to its non-invasive nature, it can be integrated with existing infrastructure and systems.
CFOs who are faced with improving the bottom line amidst the current economic pressures, will find RPA quite attractive in that it leads to lower costs, reduced errors and better service delivery amongst other things.
Looking for a system that will help you manage risk and strategic planning? Download our latest report on Automation in the CFO World for more insight.
Fore further information, contact:
Associate Director: RPA
Tel: 011 209 6736