Three letters are ringing loudly in today's market. It is RPA, the acronym for Robotic Process Automation, a technology that has gained ground in the business world by adding value to businesses, since it makes it possible to increase productivity, minimizing human errors that could be made.

Being able to finish, in a few minutes, reports that used to take months with the integration and cross-referencing of multiple spreadsheets, different data sources and complex calculations, is a reality with this technology, and just a basic approximation of the capabilities that RPA allows companies, bringing efficiency and increasing their productivity. Globally, this market is expected to grow to more than US$13 billion by 2030, an increase of more than US$12 billion over 2020, according to Statista.

It is a technology oriented to the automation of business processes based on software robots or bots that perform minor business tasks to streamline business operations and reduce costs, allowing people to focus on tasks that really add value to the organization.

According to estimates, almost half of the world's work activities could be automated in the coming years. Because of its benefits, it is a technology with great potential that we can already see applied in different market areas, especially in finance, accounting and management activities, where it replaces human execution of many repetitive tasks that do not add value.

RPA

Next, José Campos, Project and Automation Manager at Anida Latam, presents some use cases that can be found in this sector:

Preparation of financial review

• Connection and automation of data movement from systems and consolidation for executive reporting.
• Automation of data cleansing to create readable reports.

 

Standard log entries

• Creation of monthly standard log entries.
• Performance of validation analyses.
• ERP entries and data movement.

 

Intercompany reconciliation

• Automated verification and reconciliation of intercompany balances.
• Basic search and exception reporting.
• Creation of exception file and sending by e-mail for review and approval.

 

Financial planning and analysis

• Automation and linking of forecasts using historical and market data.
• Loading of balances in registry planning systems.
• Creation of reports on the difference between forecasts and actuals.

 

Regulatory compliance and reporting

• Pre-population of reporting and complex annual routing
• Data capture and manipulation to support automatically generated regulatory reports.
• Audit trail of reports and confirmation of receipt.

 

Bank reconciliations

• Automation of bank balance download workflows for individual accounts.
• Creation of text files and storage in the appropriate folders.
• Reconciliation of balances and transactions with core financial subsystems.
• Creation of balanced log entries to handle discrepancies.

 

Accounts payable process

• Configuration and maintenance of suppliers.
• Workflow processes and approvals.
• Processing and preparation of data entry and payments.
• Automation of payment processing and mass payment files for subsystem log entries.
• Automation of accruals by department.

 

Operational finance and accounting

• Review of the approval review process to handle multiple variations for client accounts.
• Calculation and processing of reimbursements.
• Download detailed monthly sales data and commission calculation.
• Creation of files and emails to obtain approvals.
• Publication and general ledgers and subsystems.

 

Collection process

• Approval of credits and maintenance of customer master file.
• Order processing and routing.
• Processing of cash receipts receivable.
• Automation of late payment notifications.

 

Anida Latam proposes to the market a Smart Automation offer, which aims to improve the performance, efficiency and quality of execution of customers' business processes through intelligent automation. The objective is to emulate basic manual tasks performed by an employee in front/backoffice environments, allowing to achieve different use cases such as those mentioned above.

Learn more about this new offering available as a service (RaaS), which seeks to allow employees to focus on activities of value to the company and leave repetitive tasks in the hands of the Robot Operations Center that Anida Latam has available to automate the most necessary processes for organizations in finance and other industries.