Finance & Accounting

Finance and Accounting

Connect legacy systems, automate repetitive tasks, and tap into disparate data sources to gain more insight about your financial services customers. Online apps, full-service web portals, and real-time account information are prime examples of how digitization drives day to day interactions with consumers and investors. Robotic Process Automation (RPA) can optimize the use of data to keep up with customer expectations and improve the efficiency of internal operations in this competitive market.

  • Improve Efficiency, Reduce operational costs, Reporting errors and end-to-end customer delivery
  • Reduce Fraud, Increase detection and prevention of fraudulent transactions
  • Reinforce Compliance, Track and manage data to meet regulatory requirements

Streamline Operations with RPA

Up to 25% of banking processes are likely to be automated in the next few years. RPA can help your organization scale to enhance the customer experience. Use your Digital Workforce to meet consumer needs 24×7.

  • Automate Operations

Eliminate manual tasks in back office and customer service operations processes including account opening/closing, payment processing and customer data updates.

  • Accelerate Underwriting

Analyze unstructured data files and streamline document-intensive risk assessment and loan/mortgage origination processes.

  • Improve Compliance Processes

Enhance KYC and AML compliance by using bots to automate data management activities.

12 Innovative Use Cases with RPA


  • Supplier onboarding

Many companies have invoice portals that streamline e-invoicing, but onboarding new suppliers is still a manual process. Launch a robot that vets new suppliers with a complete report on credit scores, tax data, etc.

  • Portal queries

Organizations often work with suppliers via portals that don’t have a well-defined integration. Rather than allocating a staff member to log in and out and copy and paste data, leverage a robot to connect to all of your portals and automatically gather or post information either at preset times or as part of a defined workflow.

  • Price comparisons

If you work with a number of suppliers to source a specific product with fluctuating prices, track changes and best pricing automatically with a robot. Robots can even sneak into the web code to extract catalog pricing.

  • Market intelligence

Vetting suppliers’ credentials on a periodic basis to ensure they meet your threshold is a highly manual task that’s easy to put off for another day. Charge a robot with this job, and it will deliver a full report on time, every time.

  • Contract terms

For some invoices, vendor contract data must be validated to ensure compliance with contract terms. Some organizations already have this function automated, but if not, mind that gap with a robot.

  • Supplier pricing comparisons

When preparing a customer quote, comparing your suppliers’ prices is often a time-sensitive manual process. Let a robot gather that data and deliver it in record time.

  • Order exception processing

Sales orders often have stipulations such as holding the price for a number of days. A robot can automatically do a price check and verify the current price against the sales order.

  • Delivery reconciliation

Delivery notes are reconciled with purchase orders to validate orders against shipments. A robot can check and approve all matching orders and only notify a human when there’s an exception.

  • Customer onboarding and master data maintenance

As with suppliers in the procure-to-pay cycle, new customers must be vetted and onboarded and their data periodically validated and updated.

  • Supporting financial close

The financial close and reporting process encompasses all of the tasks and processes—from closing out subledgers to creating and delivering financial filings to regulatory bodies—which involves many systems, departments and individuals. The process requires posting data from sources such as Excel to these subledgers, a tedious undertaking that RPA can mitigate.

  • Data extraction for accounting close

All over the business, departments and divisions record transactions in journals, which need to be consolidated and reconciled. A robot can gather and consolidate transactions and reconcile them in your ERP.

  • Data management

Aggregating and analyzing financial and operational performance is a business-critical function, but collecting, processing and delivering that information in a timely manner often feels like a sprint. A robot will take this job on and not only lighten the time-sensitive burden for employees gathering data, but also benefit executives who need information to gain insight into the business.