In the accounting department, there are challenges to promote large-scale digital transformation because it deals with financial and personal information. Today iCONEXT would like to introduce 5 examples of using RPA (Robotic Process Automation) in the accounting department.
Accounting tasks are highly compatible with RPA, making them easy to improve efficiency
It can be said that the compatibility between accounting and RPA is very good.
This is because in the following tasks you can see that characteristics and issues are compatible with RPA’s strengths.
- There are many repetitive and routine tasks performed based on a fixed procedure.
- Human error occurs due to staff fatigue and decreased concentration.
5 patterns of RPA use cases in the accounting department
Here, we would like to introduce some cases where we supported RPA implementation and achieved great results.
1. Invoice reconciliation
Automate the process to cross check the contents of purchase orders and invoices, which accounting staff used to do manually, one by one.
By simply scanning paper invoices and converting them to PDFs, you can use OCR (Optical Character Recognition) technology to read information such as order details, unit prices, quantities, and total amounts.
Before: It took time for visual inspection, and errors also occurred.
After: Checking is completed within approximately 5 seconds per 1 invoice.
2. Invoice data entry
Automate the task of registering invoice data in ERP and accounting systems.
Work time can be greatly reduced, and accurate work can be performed. It can also create an invoice automatically from the registered data.
Before: 17 minutes / 1 time (by human)
After: 5 minutes / 1 time (by robot)
3. Journal voucher entry to accounting system
This is to automate posting task of journal information to accounting software.
RPA automatically imports data into accounting software, and at the same time, journal entries are automatically done by linking to accounting items and tax categories.
Before: Copying & pasting from statement of accounts in Excel file. Operational mistakes occurred.
After: Automatically imports journal entry data into the accounting software.
4. Checking payment status of credit card or loan
A useful solution for insurance companies and loan companies. It automates the process of checking the amount of installment payment and the status of debt collection.
RPA automatically retrieves bank statements from the bank’s website and identifies customers who have not completed their payments on time.
Before: Based on the bank transaction data, the staff checked each case one by one.
After: Automatically finds unpaid customers and creates a list.
5. Checking documents and data in the system
When registering the data read from the purchase order in the internal system, if it does not meet the pre-defined conditions, an error message will be sent as a notification.
Before: Manually inputted into the system while looking at purchase orders in various formats
After: Automatically registers purchase order data and notifies in case of error
Let’s assign your human resources to high-productivity tasks
iCONEXT company is developing robots that specialize in improving the efficiency of office operations. We mainly use the world-famous “UiPath” and has a wealth of achievements.
Advantages of robots
- Work time can be greatly reduced.
- High accuracy (no mistakes)
- It can work 24 hours a day, 365 days a year without getting tired.
Let’s create an environment where everyone can focus on critical tasks or creative tasks in your business by automating routine work.
If you are interested in office task automation, efficiency improvement, and RPA implementation, please feel free to contact us at email@example.com.
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