Trintech: Impact of Robotic Automation on the Financial Close
Posted: 1 March 2017 | Source: Trintech
Over the last couple of years there has been one topic of discussion in the finance community that has been growing louder and louder: Robotic Process Automation (or, because anything new has to have an acronym, RPA). But what is RPA, how does it affect the close process, and how are other companies currently utilising automation to transform their financial close?
Simply put, what RPA looks to achieve is the removal of menial and manual data tasks, freeing up highly trained talent for analysis of data – giving it context and meaning – and instead applying that creative intelligence to tasks like problem solving and evolving the business. This not only delivers improved value to the business but is also the type of high value work most likely to attract and retain high quality people.