RPA for CPAs Series: Advantages to Automation

As with other forms of automation, the inherent speed and ef­ficiency of machine processing gets work done faster. Automation can also scale to accommodate increases in volume. For a growing company, this can mean not having to add additional head count to handle the extra paperwork that comes with expansions to meet customer demand. Alternatively, scalability could mean being able to audit more documents to find exceptions to defined business rules.

Greater traceability is another advantage. Every action a bot takes can be logged and controlled through strict codified rules. This feature makes all bot activity easy to monitor, trace, and audit. When good software governance practices are applied to develop­ing and deploying the RPA bots, business leaders can expect con­sistent and reliable results from their automated tasks.

RPA helps manage risk, too. Limiting workers’ access to sen­sitive information is often a key control in business processes. Incorporating RPA into the workflow can reduce the possibility of data exposure by limiting access to sensitive data even further. RPA can also manage risk by being a control that provides continuous.

This article is part of a series exploring how RPA technology can enhance a CPA’s work, past entries are listed below:

1. RPA for CPA’s Series: Bringing on Bots to Enhance a CPA’s Work

How Can Schneider Downs Help?

The Schneider Downs Business Process Automation team is committed to assisting clients with the evaluation, adoption and implementation of robotic process automation technology. We work with our clients to evaluate use cases, develop cost-benefit analyses, implement process automation, and provide continuous support to the operation of your business automation processes. 

Learn more at www.schneiderdowns.com/RPA

This article is reprinted with permission from Pennsylvania Institute of Certified Public Accountants, Ten Penn Center, 1801 Market Street, Suite 2400, Philadelphia, PA 19103. (215) 496-9272 ©2019. View the full article here.