Finance and Accounting RPA use cases
Invoice Processing
Capture invoice data from scanned invoices or electronic files and process the same in ERP systems. The invoice processing time can be reduced by up to 60 to 80 %.
Payment Matching & Processing
Bank lockbox payments received from various sources are matched against open invoices. These are then processed in the ERP system, every day and remittance receipts are generated.
Automate Journal Entries
RPA can process email, perform compliance checks and process the Journal entries in ERP (SAP, Oracle, etc.), and notify the requestor.
Account Reconciliations
RPA can automate the download of sub-account balances, perform validations and create balancing journal entries to handle discrepancies.
3-way Matching
Matching invoices to purchase orders (PO) and goods received notes (regulatory reporting efficiency ensures accurate payment and validates different parts of the supply chain.
Vendor Onboarding
Look up new Vendor information online (e.g., using DUNS number) and use that information to add the latest vendor to your ERP of Invoice application.
Automate Workflow and Approvals
RPA can be configured for rules-based auto-approval in the AP system. Any exceptions are raised to the appropriate person for manual approvals.
Financial Planning and Analysis
Prepare forecasts automatically using historical and market data. Load pre-populated balances into the planning system, Create variance reports.
Regulatory reporting
Capture and cleanse data, generate the regulatory reports automatically. Create complex annual reports to the extent possible.
Invoice Processing
Capture invoice data from scanned invoices or electronic files and process the same in ERP systems. The invoice processing time can be reduced by up to 60 to 80 %.
Payment Matching & Processing
Bank lockbox payments received from various sources are matched against open invoices. These are then processed in the ERP system, every day and remittance receipts are generated.
Automate Journal Entries
RPA can process email, perform compliance checks and process the Journal entries in ERP (SAP, Oracle, etc.), and notify the requestor.
Account Reconciliations
RPA can automate the download of sub-account balances, perform validations and create balancing journal entries to handle discrepancies.
3-way Matching
Matching invoices to purchase orders (PO) and goods received notes (regulatory reporting efficiency ensures accurate payment and validates different parts of the supply chain.
Vendor Onboarding
Look up new Vendor information online (e.g., using DUNS number) and use that information to add the latest vendor to your ERP of Invoice application.
Automate Workflow and Approvals
RPA can be configured for rules-based auto-approval in the AP system. Any exceptions are raised to the appropriate person for manual approvals.
Financial Planning and Analysis
Prepare forecasts automatically using historical and market data. Load pre-populated balances into the planning system, Create variance reports.
Regulatory reporting
Capture and cleanse data, generate the regulatory reports automatically. Create complex annual reports to the extent possible.