RPA for the Office of Finance

Reduce errors, cut costs, win time.

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WHY DOES THE OFFICE OF FINANCE NEED ROBOTIC PROCESS AUTOMATION?

How RPA can reduce human error and improve internal controls and compliance


Core financial processes typically involve a mix of digital and paper-based documentation processing, frequent manual data re-entry and complex compliance and storage needs. As a result, too much of the Finance team’s time is spent on repetitive, manual tasks. And these processes can easily introduce human error and an element of risk into what are critical business processes.

WHAT’S THE VALUE OF RPA FOR THE FINANCE FUNCTION?

Utilise RPA in finance to drive the finance team’s productivity


90%

higher quality / exactness

92%

compliance improvement

59%

less costs

86%

higher productivity

International Manufacturer

Servicetrace saved 2 weeks every month – accelerating audits and checking receipts posted for a specific period. Thereby increasing employee satisfaction.

RPA for the Finance Office Use Cases

HOW CAN ROBOTIC PROCESS AUTOMATION (RPA) HELP THE OFFICE OF FINANCE?

Find out how process automation can increase efficiency, reduce risk and create time for the finance team


Robotic Process Automation (RPA) has an important role to play in helping to transform key Finance processes. And, in particular, those that are frequently executed in large volumes. By replicating existing processes – such as extracting data from physical documents, switching between and sharing information with multiple applications, and learning as the process progresses – RPA can effectively take on board the execution of these manual processes at scale. This increases the output of the existing Finance team.

To find out how the Office of the CFO can make the right RPA choices, read the whitepaper.

KEY BENEFITS OF RPA FOR THE OFFICE OF FINANCE

Utilise RPA in finance to drive the finance team’s productivity


Save time and money

by increasing efficiency and productivity.

Reduce error rates

and free Finance staff to focus on higher value tasks.

Scale easily

to meet Finance’s regular peak activity needs.

Automate audit-proof

and support Finance’s complex compliance requirements.

RATED AS VISIONARY IN GARTNER 2020 RPA MAGIC QUADRANT


Gartner research has identified that the average amount of avoidable rework in accounting departments combines to take up some 30% of a full-time employee’s overall time – and ranks Servicetrace as a visionary in its RPA Magic Quadrant 2020.

Analyst Reviews

WHAT ARE THE BENEFITS OF RPA FOR THE OFFICE OF FINANCE?

Enable your finance team to focus on higher value, strategic work by reducing manual, repetitive labour


Automating manual finance tasks can save cost and time, significantly reduce error rates and free Finance staff to focus on higher value tasks. RPA-enabled processes are highly auditable, supporting Finance’s complex compliance requirements, and can also scale easily to meet Finance’s regular peak activity needs.

To find out how RPA is key to unlocking value for the office of the CFO, read this whitepaper.

FACTS AND FIGURES: RPA FOR THE OFFICE OF FINANCE

A survey by The Chartered Institute of Management Accountants (CIMA) in association with Servicetrace


100%

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100%

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100%

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Automotive Manufacturer

Servicetrace was able to save 5 minutes for each Treasury contract comparison process. This is equivalent to an impressive 1,750 Finance FTE hours saved per year

RPA for the Finance Office Use Cases

WHERE SHOULD FINANCE START WITH ROBOTIC PROCESS AUTOMATION (RPA)?

Now is the time to look at automation!


RPA technology can start with simple rules-based Finance tasks, and progress towards more complex applications as the Finance team becomes more familiar with its capabilities. This progression, from basic RPA task automation to a more holistic Enterprise Process Automation approach is important for the Finance team.

To find out about the top 5 processes to automate in finance, get the whitepaper.

International Manufacturer

Servicetrace accomplished meticulous comparison of Order, Delivery documents and Customer invoices. This reduced the manual activity from 150 minutes per transaction to less than 5 mins with robots. And this ensured error free execution, along with increased customer satisfaction.

RPA for the Finance Office Use Cases

Leading Life Science Company

Based on information found in the billing files for individual customers, the robots automatically created and posted invoices in ERP. This saved approximately 80 hours per week.

RPA for the Finance Office Use Cases

HOW CAN SERVICETRACE X1 RPA SUPPORT THE FINANCE FUNCTION?

Helping the Office of the CFO to make the right RPA choice


Servicetrace X1 lets Finance teams plan, implement, operate and scale multiple RPA projects while still retaining central control. With X1, all phases of the automation journey – and all participants – are managed with a single, easy-to-use decision support and automation platform. This helps the Office of the CFO to support and drive process automation initiatives across the business.

START YOUR AUTOMATION JOURNEY HERE.