Intelligent Automation Solutions in

Finance and Accounting

Contact a specialist
Functions menu

New eBook

Intelligent Automation

in Finance

Get the eBook

New eBook

Intelligent Automation

in Finance

Get the eBook

How to accelerate your finance transformation with RPA?

Robotic Process Automation is estimated to have an automation potential of 44% in Finance and Accounting by reducing manual repetitive tasks. Use of AI can even further accelerate the automation potential. Robots are not only making the finance & accounting processes more efficient but also increase the quality and effectiveness. Our experience shows that robots are also one of the most effective ways to meet increasing compliance requirements at your organization.

Heatmap for Finance and Accounting processes

high
Automation potential

High

medium
Automation potential

Medium

Master data Subledger maintenance Payment handling GL closing Group accounting & Controlling Reporting
Validation to the external sources Change the payment plan Clearing and processing the incoming payments Extraction of source data from subledgers Financial statement analysis Management reporting package
VAT code validation Exernal bank confirmations/ certificates Clearing unassigned payments Closing and opening the periods Completeness check for incoming data Archiving
Sanctions screening and KYC Subledger vs. GL reconciliation Handling of unassigned e-invoices Collection of material for financial statements Validity check for incoming data Regulatory reporting
New master data item creation Support for various loan application processes Automated insurance payments to customers Preparation of journal entry supporting documents Intercompany reconciliation GDPR information for clients
Review and closing of old bank accounts Overdue reminders and dunning process Intelligent payment analysis Journal entry approval VAT deviations Reporting to the parent company
MIFID II and contract update & archiving Account determination process Payment batch processing or monitoring Journal entry posting after approval Outlier detection Filling out statistics

Process examples

gl-closing

GL closing

Automating repetitive tasks from the month end process lead to efficiency and remove bottlenecks.

READ MORE

Digital Workers can automate data transfer from sub-ledgers to the GL, preparing, approving and posting manual journal entries and analyzing the key financial data at month end for our clients.

better-purchasing

Enhance purchasing

Increases in 3-way match automation rates bring direct savings to organizations wishing to enhance their purchasing.

READ MORE

The automation rate of purchase invoice handling is often lower than necessary due to exceptions in transaction level data or incomplete master data. Intelligent automation can fix the underlying problems by validating and updating purchase invoice content.

services-claimshandling

Accounts receivables

RPA reduces time spent on monitoring receivables and makes reminders for overdue payments automatic.

READ MORE

Digital workers collect data from legacy systems to monitor bad dept. Experience proves that automated monitoring reduces the total amount of bad dept resulting in increased working capital.

invoice-accuracy

Invoicing accuracy

Digital Workers are able to monitor the correctness and completeness of invoices. 

READ MORE

This decreases errors and helps to invoice smaller items missed by manual processing. Improving the invoicing process provides more revenue from existing transactions.

automated-reporting

Automated reporting

Manual preparation of monthly management and authority reports is time-consuming and prone to errors.

READ MORE

Robots prepare management report packages saving you time and resources during month end.  Prepare VAT declarations and monitor anomalies in VAT transactions with RPA.

Public-Reconciliation and Reporting

RoboController

External regulatory requirements are increasing all the time. Robots are very effective and efficient control performers.

READ MORE

Robots are in use preparing, approving and posting manual journal entries and analysing the key financial data at month end for our clients. Automating these repetitive tasks is an efficient process that removes bottlenecks from the month end process.

Contact our industry specialist

or fill in the contact form

ritva-

Ritva Widell

Senior Solution Manager
+358 40 722 3505
ritva.widell(at)digitalworkforce.com

Fill in your contact information

Latest News & Resources related to Finance and Accounting

Optimize RPA
Feb 9 2021

Roboshore makes using Robotic Process Automation (RPA) more optimized and transparent than ever

Feb 9, 2021
Digital Workforce Roboshore provides customers with pay-per-use Digital Workers building on the industry-leading multi-technology RPA cloud platform and ...
Read more
Nasdaq
Sep 1 2020
RPA as a service case study: Nasdaq
Sep 1, 2020
Read more
Free RPA training and webinar
Apr 20 2020
Why should you upskill in RPA right now?
Apr 20, 2020
Read more
Dec 12 2019
Banking and automation: how catastrophe led to RPA adoption
Dec 12, 2019
Read more