Robotic Process Automation (RPA) is a rapidly emerging technology that is set to revolutionize the way businesses operate. RPA automates routine tasks, allowing human employees to focus on more cognitive and judgmental applications. In the financial industry, where accuracy, speed, and compliance are crucial, RPA can provide significant benefits.
Macrosoft understands the importance of staying ahead of the curve in today’s fast-paced business world and we want to share our insights with you. Here are three straightforward use cases in financial companies where you can start when exploring RPA.
Accounts Receivable and Payable: Managing payments to and from vendors involves an immense amount of transactional processing. RPA can automate this process, with the option for human intervention for manual approval above a certain level or when certain thresholds are triggered, all while following tax guidelines.
Financial Closings: Whether it’s month-end, quarter-end, or year-end closings, there’s a tremendous amount of expenses, receipts, and transactions that need to be properly recorded and entered into the ledgers. RPA can automate this reoccurring task, with the option for escalation for anything that is outside of the norm.
Customer On-boarding: As your company grows, you’re constantly on-boarding new customers. With RPA, companies can use OCR (optical character recognition) to automatically scan and read handwritten information, convert it into digital bits and bytes, and enter that data across multiple systems throughout your organization.
At Macrosoft, we are dedicated to helping our customers stay ahead of the game by leveraging the power of RPA. Whether you’re in the financial industry or any other industry, we can work with you to determine the best course of action for your organization. Don’t wait any longer to start reaping the benefits of RPA – contact us today to talk to an RPA expert to custom-tailor your process automation venture.
By John Kullmann | February 7th, 2023 | Process Automation