RPA USE CASES IN FINANCE
AGENDA
1
Introduction
2
RPA Use Cases in Finance Client Onboarding
3 5
Accounts Reconciliation Financial Planning and Forecasting Automatic Report Generation Tax Reporting
3
Conclusion
Robotic process automation in finance enables companies to reach operational excellence without sacrificing time and quality. It adds value to the business growth by streamlining the processes and scaling up the workflows.
TOP 4 RPA USE CASES IN FINANCE
Client Onboarding
Accounts Reconciliation
Financial Planning and Forecasting
Automatic Report Generation
Tax Reporting
CLIENT ONBOARDING
Robots gather all the relevant information through an OCR tool, extract data and match it with the information in the file, and present a report to the compliance manager, thus facilitating them to make an informed decision.
ACCOUNTS RECONCILIATION
RPA in finance can check the transactional data collected from different sources and automatically approve all the matching orders.
FINANCIAL PLANNING AND FORECASTING
The figurative bots can efficiently execute tasks like processing historic data, collecting and reconciling all the financial statements collected from different departments and creates variance reports as well as financial trend forecasts out of them.
AUTOMATIC REPORT GENERATION
The figurative bots can easily take over the task of maintaining profit and loss reports and generate them in real-time while minimizing the risk of inaccuracies and human errors.
TAX REPORTING
RPA bots can efficiently execute tasks such as preparing reports, gathering data, calculating the tax payable, or submit filings to tax authority portals.
CONCLUSION
Robotic process automation has eased the operations of the financial services companies by aiding the routine functions of the industry. It makes processes accurate, simpler, and faster.
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