Within the finance department, numerous repetitive processes exist, ranging from invoice processing to monthly closures and reporting. Although a significant portion of these processes is already automated, employees still spend a considerable amount of time on manual tasks.
This is partly due to the high volume of transactions, including creditors, debtors, and employees. The complexity of these processes often leads to exceptions and requires manual checks. Additionally, the automation capabilities in financial applications are limited, utilizing various tools such as reporting, Outlook, and Excel.
In a labor market with increasing scarcity, deploying new technologies like software robots (RPA) is the solution to reduce administrative workload.
Benefits of software robots within the Finance department
Automating repetitive tasks with RPA naturally leads to time savings. However, the qualitative benefits are just as interesting, especially within a finance department, where the monthly closing causes high work pressure at the beginning of each month. There are also many repetitive processes where manual checks need to be performed or reports need to be generated.
Automating administrative tasks using RPA results in:
Reducing workload during peak periods
Compliance with changing laws and regulations
Shorter response times
Continuity during absence or illness
Higher data quality
More efficient way of working
Software robot vs. administrative employee
What is RPA? RPA stands for Robotic Process Automation, a technology that simulates keyboard and mouse actions to automate repetitive, manual, and often administrative tasks. This is done through a software robot, also known as a digital employee.
- Directly deployable
- Operational 168 hours per week
- 100% productive
- Cost approximately €3 per hour
- Error-free
- Always available
- Recruitment & onboarding required
- Operational 40 hours per week
- 80% productive
- Cost approximately €40 per hour
- Prone to errors
- Subject to leave and sick days
Which processes can you automate with RPA?
The tasks most suitable for automation with RPA are repetitive, manual, and involve a high volume of transactions. Often, executing a process requires using multiple applications. It is in these situations that RPA shines.
Within the Finance department, the following tasks are taken over by our software robots:
✅ Invoice processing
✅ Performing internal controls
✅ Booking memorials and recharges
✅ Generating reports
✅ Processing deposits
✅ Performing bank transactions
✅ Checking incoming invoices
✅ Reconciling ledger accounts
✅ Processing payment batches
✅ Sending payment specifications
These organizations have preceded you…
We can truly tell you everything about who we are, how we operate, and what is possible with RPA and AI. Contact us to learn more about these projects.
Client cases in the financial sector
Implementing software robots in your Finance department?
We have successfully assisted various organizations in implementing software robots (RPA) to automate repetitive manual processes. Curious about which processes we can automate in your department? Feel free to contact Ebert Knol.
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