Three letters sound strong in today’s market: RPA, the acronym for Robotic Process Automation or 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.
Being able to finish, in a few minutes, reports that used to take months with the integration and crossing of multiple spreadsheets, different data sources and complex calculations, is a reality with this technology, and only a basic approximation of the capabilities that RPA allows companies, providing efficiency and raising your productivity. Globally, this market is expected to grow to more than $13 billion by 2030, an increase of more than $12 billion from 2020, according to Statista data.
It is a technology aimed at automating business processes based on software robots or bots that perform less relevant business tasks to streamline company operations and reduce costs, allowing people to dedicate themselves to tasks that really add value to the organization.
According to estimates, almost half of all work activities in the world can be automated in the next few years. Due to its benefits, it is a technology with great potential that we can already see applied in different areas of the market, especially in finance, accounting or management activities, where it replaces the human execution of many repetitive tasks that do not add value.
Below, José Campos, Project and Automation Manager at Anida Latam, presents some use cases that we can find in this sector:
Preparation of financial review
- Connection and automation of data movement from systems and consolidation for executive reports.
- Automation of data cleaning to create readable reports.
Standard log entries
- Creation of monthly standard log entries.
- Performance of validation analytics.
- Entries in the ERP and data movement.
- 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 connection of forecasts using historical and market data.
- Loading of balances in registration planning systems.
- Creation of reports of difference between forecasts and actuals.
Regulatory compliance and reporting
- Pre-population of complex annual reporting and routing
- Data capture and manipulation to support automatically generated regulatory reports.
- Report audit trail and receipt confirmation.
- Automation of workflows for downloading bank balances for individual accounts.
- Creation of text files and storage in the appropriate folders.
- Reconciliation of balances and transactions with core finance subsystems.
- Creation of balanced log entries to handle discrepancies.
Accounts Payable Process
- Provider configuration and maintenance.
- Workflow processes and approvals.
- Processing and preparation of data entry and payments.
- Automation of payment processing and massive payment files for log entries in subsystems.
- 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 refunds.
- Download detailed monthly sales data and commission calculation.
- Creation of files and emails to obtain approvals.
- Publishing and ledgers and subsystems.
- Approval of credits and maintenance of the customer master file.
- Processing and routing of orders.
- Processing of receipts in cash to collect.
- Automation of notifications of delays in payments.
Anida Latam’s Smart Automation offer aims to improve the performance, efficiency and execution quality of clients’ business processes through intelligent automation. The objective is to emulate basic manual tasks performed by a collaborator in front/backoffice environments, allowing different use cases such as those mentioned above.
Learn more about this new offer available as a service (RaaS), which seeks for 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, finance and other industries.