Process automation continues to play an important role in the digital transformation taking place across the business world, and many companies that have embraced this emerging new technology have certainly benefited from it.
Emerging technologies can use RPA to automate business processes, including processes related to finance and accounting, billing and receivables, purchasing and accounts payable, and production and inventory. RPA is also used by companies to streamline their financial close by performing reconciliations, managing and resolving exceptions, as well as being used to record journal entries in the ledger record, complete intercompany transactions, and perform consolidation/reporting functions..
Automation reduces, and often eliminates, the circulation of paper through the company, in addition to reducing the repetition of entries and reconciliations, generating gains in time and productivity. This trend towards the use of automation brings numerous benefits to the financial sector, such as efficiency, speed, security and credibility in the indicators of the economic and financial positioning of companies, enabling future strategic decisions and results aimed at their growth.
The effective use of automation has become essential for companies that seek ways to provide quality services and fully meet the demands of the tax authorities, as they provide consistent and real-time information, integrating areas in a reliable way. Research points to a consensus in the market that investing in automation in financial processes not only contributes to improving these processes, but also to meeting tax obligations.
Increasingly, automation will take on new responsibilities for routine cognitive tasks, but these technologies cannot yet replace human interaction. Professionals must specialize to become strategists, helping to drive their client's business.
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