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RPA Use Cases in Finance

Implementation of robotic processes automation in finance not only eases the routine work but helps to explore new opportunities. It makes the business processes easier, simpler, and accurate. Automating tasks aids businesses to optimize technological costs, reduce compliance backlogs, maximize productivity, and scale-up workflows. Read More: https://vocal.media/journal/top-5-rpa-use-cases-in-finance-driving-overall-business-growth

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RPA Use Cases in Finance

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  1. RPA USE CASES IN FINANCE

  2. AGENDA 1 2 3 5 • Introduction • RPA Use Cases in Finance • Client Onboarding • Accounts Reconciliation • Financial Planning and Forecasting • Automatic Report Generation • Tax Reporting 3 Conclusion

  3. Robotic process automation in financeenables 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.

  4. TOP 4 RPA USE CASES IN FINANCE • Automatic Report Generation • Tax Reporting • Client Onboarding • Accounts Reconciliation • Financial Planning and Forecasting

  5. 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.

  6. ACCOUNTS RECONCILIATION RPA in finance can check the transactional data collected from different sources and automatically approve all the matching orders.

  7. 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.

  8. 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.

  9. 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.

  10. 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.

  11. THANK YOU READ MORE

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