The modern-day service industry, including accounting and finance, is being changed by technology, especially auditing robotic automation software. Robots are designed today to act in the place of a human staff or workforce
They can easily perform any on-screen and rules-based work while providing a far more accurate and expedient outcome than any humans. They also do this far cheaper than any humans.
Robots can transform a company's finance and accounting functions by conducting many of the traditional jobs of these functions such as procurement payments, report consolidations, and even audits. The robots will act as assistants to human staff performing either as an independent worker or as a complete virtual workforce working from their virtual desktops within a company's data center. It is important to select the correct robotic configuration for a business is critical to the ultimate success and long-term results.
Any finance or accounting department will be handling sensitive information which is often proprietary to a company. With robots, there is no danger of corporate espionage or issues of security, accuracy, or fraud. A robot functions exactly as programmed and they are able to log in exactly as a human using password and user name. However, unlike humans, a robot will only access that which he is trained to and perform the relevant task. Because they are not programmed to do so, robots will not seek to retrieve, obtain or use information for any fraudulent or espionage purposes. They are the ultimate in corporate security.
The last-minute scramble finance and accounting departments see at quarter or year ends aren't an issue for robots. They are able to efficiently meet deadlines and provide any report or data in an extremely accurate and efficient manner. They are able to retrieve data and create accurate spreadsheets while working quickly and efficiently for you. They can easily work and collate across multiple applications or functions, and they can be easily trained to do so in a far shorter time than it requires training a human.
There are simply no mistakes with robots. They offer client 100% accuracy. They can even serve as auditors in place of other staff to ensure complete accuracy and full regulatory compliance. They can even provide an audit and comprehensive report of their own performance! Robotic usage eliminates the need for double-checking and reworking to correct mistakes - and this will reduce costs and improve the overall service levels.
EASY TO WORK WITH:
It's far easier to work with an automated robot than with another human being as it removes the personal aspect of any potential for conflict. There is no coaching or training involved with robots only programming. Once they are trained to perform, it is easy to have all other robots act in the same fashion and perform the same tasks. There is no need for lunch or other breaks and robots can work 24/7 unlike humans.
Needless to say, this makes finance and accounting robotic automation far more reliable than human staffers and they will also perform exactly as they are programmed to do. One central person is able to manage up to 30 robots with each robot performing the work of about 2 to 4 humans. This further reduces a company's management costs and increases/improves their planning accuracy. When something needs to be changed for a robot, it is only one that needs to be changed. All others will immediately follow suit if that is what you want.
There are a range of choices when it comes to robotic process automation technologies and software related to finance and accounting robotic automation . Auditing robotic automation auditing is just one of the many applications available. RPAi will help a company select which robotic technology will best fit their needs and goals; they then help to configure as well as train the robot. Lastly, RPAi also will do a "Robot Fit Check" assess the robotic opportunities for a company.