ROBOTIC ACCOUNTING AUTOMATION
- Robotic Process Automation -
Robotic process automation, known as RPA is a software robot
that mimic and integrate human actions within digital systems
to optimize business processes. RPA captures data,
runs applications, triggers responses, and
communicates with other systems
to perform a variety of tasks.
We reimagine business process management with an innovative business process service stack, built using thousands of hours of learning and testing, and shaped to perfection in varied and complex client environments.
The main purpose of solution is to automate the majority of manual document entry that is recorded in the accounting system of an individual company. This would make significant savings both financially and in time, and in most cases business process automation results in greater reliability comparing to manual entries.
We follow a platform and technology agnostic approach to automation that focuses on data extraction from the company's invoices, sales orders, bank statements and other financial records and documentation, received either via e-mail, or by scanning the receipt.
Solution robot extracts the data needed for posting entries and implementing them into the accounting software. It's highly configurable and can be adapted to both specific client's documents and accounting software.
Our solution has been implemented using UiPath platform, leading third-party platform in RPA services. To find out more about technical compatibility with other platforms, please get in contact with our sales team.
The Process of Robotic Accounting Automation
Using Robotic Accounting Automation, whole transaction business process is automated and imported into the accounting system.
Human interactions within those processes are minimal. After all data has been processed, all you have to do is to check its output form.
Save time on manual data entries, and relocate it to validate automated work of our robot:
Inbound and Outbound Invoices
Robot downloads new invoices from your company e-mail account and from the local folder which contains scanned receipts. After fetching the documentation, robot extracts needed data and saves it into the variables. Those variables are entered into the accounting software. Process is automated from beginning till the last step. Last thing left to do is validate payment file generated form from the invoices and load it into your e-banking account.
Based on the same approach, robot downloads new bank statements from your company e-mail account. After fetching the documentation, robot extracts needed data and saves it into the variables. Those variables are passed into the accounting software and new documentation is imported. You can easily track your bank account status and create weekly or monthly reports for your company, based on imported data and background calculations.
Payrolls and Payments
Except data extraction, robot can automate payroll processes. Based on the employee list in xlsx file, robot calculates monthly salaries and registers them for each employee into the accounting software. You can change the xlsx file by adding vacations or sick leave days. Robot detects changes within few second and process the data. After the bookkeeping automation is done, robot outputs xaml file which, after validation, can be easily uploaded into your e-banking account.
How does it work?
Robot, after fetching the documentation, extracts needed data, such as order date, due date,
invoice date, tax rate, tax amount, total due and etc. After extraction, it saves data into the variables.
Those variables are automatically passed and entered into the accounting software.
The Implementation of Robotic Accounting Automation
Sign up for a free interactive briefing, to set out the fundamentals and how can you apply them into your company structure.
In our typical procedure, this step takes one, up to few day and it is free for all potential clients.
(if it takes more then one day to initialize the
potential our team will make you aware)
This step includes process analysis in which our experts document the candidate process, collect related metrics and generate automation road-map.
At the end, we will analyze and identify automation potential, and prioritize tasks for implementation. This step usually takes 1-2 weeks, based on the company size and technological structure.
PROOF OF CONCEPT
Our team guides the Pilot process to result in a clear proof of concept, and capture learnings, issues and risks to be taken into design.
After successful implementation, our team will offer you support services for robot maintenance, monitoring and training for using our technology. The result of proof of concept is typically one fully automated and robust business process.
If you see the potential of RPA and how to benefit from it, please submit the inquiry form bellow:
Request for services
Find out more about how we can help your organization with implementation of RPA technology.
Let us know your areas of interest so that we can serve you better: