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RPA Use Cases in Finance

RPA in finance can efficiently accomplish all the mundane and repetitive tasks of varying subtleties - right from complex to simple workflows. So, mentioned here are the top 5 RPA use cases in finance. 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 • Customer service • Intercompany reconciliations • Statement preparation • Operational finance and accounting 3 Conclusion

  3. INTRODUCTION With a shortage of skilled workforce and technical complications, there is room for opportunities to increase productivity and enhance compliance. Implementing RPA in financial services, therefore, becomes the hidden force that continually guides the stakeholders forward along a growth-oriented path.

  4. RPA USE CASES IN FINANCE • Statement Preparation • Customer service • Intercompany Reconciliations • Operational Finance And Accounting

  5. CUSTOMER SERVICE By configuring RPA, companies can automate the process of gathering all the relevant information through OCR. This extracted data is matched with the information on file and a report the presented to the compliance manager so that they can make an informed decision.

  6. INTERCOMPANY RECONCILIATIONS Financial services companies have various accounts reconciliation tasks by the end of the reporting period. The figurative bots can be set up to check different orders and transactional data collected from multiple sources.

  7. STATEMENT PREPARATION Tracking a company’s profit and loss reports regularly is a safe way to keep a check on the financial performance. However, implementation of robotic process automation in finance can make the task easier and simple.

  8. OPERATIONAL FINANCE AND ACCOUNTING With robotic process automation in place, the management can digitize and modernize processes including formatting data into s treasure system, general ledger updates, updating the treasury systems, sending out reports, and many more.

  9. CONCLUSION The new-wave technologies such as robotic process automation have the potential to revolutionize businesses irrespective of the industries they deal in. There are numerous RPA use cases in finance, finding one that fits your scenario is ideally the key.

  10. THANK YOU READ MORE Click Here

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