In this presentation by Accenture, the transformation of finance and risk operations by robotic process automation (RPA) is discussed. The presentation starts by covering the definition of RPA more broadly, how it is used to automate business processes, and benefits that can be obtained from RPA implementation in a broad sense. It then dives more deeply into the effects that RPA is able to make on finance and risk operations by providing sample use cases. The presentation concludes by exploring the steps involved in the automation journey and an expected time frame.
Accenture suggests that robotic automation allows companies to “automate current tasks as if a real person was doing them across applications and systems. [It] interacts with individual systems in the same way as a human user, meaning no complex system integration required.” The tasks executed by the “virtual workers”, or RPA robots, tend to be rule-based processes, especially ones that are repetitive and high volume. These robots are trained and controlled via a management platform by the business users.
“Robotics drives efficiency benefits, along with improvements in quality, scalability and resiliency in a cost effective way,” maintains Accenture. As can be seen, the benefits of RPA are diverse. They can include:
- Higher quality due to the elimination of human error and increase compliance
- An increase in productivity that results from a reduction in cycle times and constant process monitoring
- Significant cost savings due to a great reduction in processing costs
- Rapid implementation of new processes since process elements can be reused