Robotic Process Automation (RPA) is a technology that facilitates the creation, deployment, and management of software robots that emulate human behavior interacting with digital systems and software. Like humans, software robots can do things like understand what is displayed on the screen, perform the correct keystrokes, navigate the system, identify, and extract data, and perform a variety of predefined actions. But software robots can do this faster and more consistently than humans, without having to get up and stretch or drink coffee.
Organization across industries spends substantial number of resources on processing a single Invoice manually. Following a completely manual method of invoice processing can become a significant part of the Operational expenses of any company. Time and costing savings are two main drivers for AP automation.
Here are some other challenges in Manual AP that are driving the shift to Process automation: