RPA - Accounts Payable

Robotic Process Automation

What is Robotic Process Automation (RPA)?

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.

Why Robotic Process Automation?

  • Makes the process more efficient
  • Saves Money
  • Enhanced quality, productivity, and efficiency
  • Highly accurate with less room for error
  • Improves your employee relationships

Challenges in Manual Accounts Payable Processing

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.

Robotic Process - Accout Payable

Here are some other challenges in Manual AP that are driving the shift to Process automation:

  • Manual routing of invoices for approval
  • Manual data entry
  • Paper format of invoices
  • Lack of clarity in outstanding liabilities
  • Lost or Missing Invoices
  • High number of discrepancies

9 benefits in Accounts Payable Process with RPA

  • Streamlined Supplier Invoice Data
  • Better Compliance
  • Error Removal
  • Faster Account Reconciliation
  • Scalability
  • Improved Supplier Relations
  • Cost Savings
  • Enhanced Customer Experience
  • Smooth Financial Closing and Reporting
RPA robot process automation

Get in Touch