RPA For Accounting | Automate Your Accounting!

Take the boring, repetitive, and time-consuming work from your employees’ shoulders, integrate your systems and streamline accounting operations.

PROVEN AUTOMATION DEVELOPMENT AGENCY:

RPA For Accounting | Automate Your Accounting!

Take the boring, repetitive, and time-consuming work from your employees’ shoulders, integrate your systems and streamline accounting operations.

RPA for accounting

5/5 CLUTCH VETTED

PROVEN RPA DEVELOPMENT PARTNER

What Can RPA do for Accounting?

Auditing and Compliance

Optimize the auditing process with RPA. Automate compliance checks by verifying transactions against regulatory requirements, ensuring financial records are accurate and in line with regulations.

Reconciliation and Reporting

Automate the reconciliation of financial statements, bank accounts, and transactions, identify discrepancies between different data sets, and generate accurate reports.

Automate Accounts Payable And Receivable Workflows

Streamline the end-to-end process of invoice processing. RPA bots can receive invoices, validate them against predefined rules, initiate approval workflows, and update payment information. This accelerates the process and reduces the chances of payment errors and delays.

Automate Accounting Document and Data Processing

Process enormous amounts of structured and unstructured accounting data (invoices, identity proofs, tax returns, contracts etc.) and move it automatically between systems.

Reconciliation and Reporting

Automate the reconciliation of financial statements, bank accounts, and transactions, identify discrepancies between different data sets, and generate accurate reports.

Automating the Tax Return Process for a Debt Relief Program

We built a network of robots that retrieve tax documents for a client, extract information from the documents, and file tax returns for the company’s clients.

2818

Hours of manual work saved/weekly

$100K

Saved on employee costs

2

bots built for the automation

They were thorough, always available, and never missed anything. Very agile, lightweight approach, which we loved because it made the project move faster!

We saved 100k in manual effort and we stand to increase revenue by $1M.

Heather Maitre

Managing Partner at Mystic River Consulting

Generating 300,000% ROI with one, simple RPA automation

For T-Bank, a financial institution from Texas we have automated filling out the application forms for SBA Paycheck Protection Program, generating over $5M worth of profit in one day of work.

$5M

of profit

300K%

ROI generated

8 hours

of bot development

Their availability was impressive. They worked through the middle of the night during a weekend to get it done for us. This project wouldn’t have been possible without that access.

It was a large return on investment!

David Clifford

CSO at T-Bank

Automating a Loan Estimation and Granting Process

For a leading mortgage company in California, we have automated the retrieval and sending of disclosure and ending packages to mortgage brokers and various functions in Encompass software, providing faster and more accurate underwriting workflows.

600%

Return on Investment

$2M

per year saved

5

FTEs saved

They do very well in terms of project management and communication. Within very short-term working sessions, they were able to automate all the task given to them.

We’re very satisfied with their work!

PRMG

Brent Williams

Lead Architect at PRMG

Typical RPA for Accounting Missions:

  • Invoice Processing

  • Expense Report Management

  • Bank Reconciliation

  • Accounts Payable

  • Accounts Receivable

  • Invoice Processing
  • Expense Report Manageent
  • Bank Reconciliation
  • Accounts Payable/ Accounts Receivable

  • General Ledger Entries

  • Financial Reporting
  • Payroll Processing
  • Fixed Asset Management

  • Financial Close Process

  • 50%
    of all accounting tasks can be automated (McKinsey)

  • $16
    per invoice can be saved in Accounts Payable with automation (Statista)

  • 45%
    of reporting, planning, and strategic work can be automated (McKinsey)

Why RPA for Accounting?

Accounting is a perfect playground for RPA automation, with their repetitive workflows, vast sets of data, and lots of manual-dependent labor.

Increased Efficiency

Automating repetitive tasks like data entry and reconciliation speeds up accounting workflows, improving overall efficiency.

Decreased Operational Costs

By reducing manual effort, RPA lowers operational costs associated with repetitive accounting tasks.

Higher Team Satisfaction and Strategic Focus

By automating mundane tasks, accountants can focus on higher-value activities such as analysis and decision-making.

Compliance Assurance

RPA follows predefined rules and audit trails, ensuring adherence to regulations and consistent compliance.

Enhanced Accuracy

RPA minimizes human errors in data entry, calculations, and reconciliation, ensuring accurate financial records.

Systems Interoperability

RPA can integrate with existing accounting systems, making implementation and process improvement smoother.

Automating repetitive tasks like data entry and reconciliation speeds up accounting workflows, improving overall efficiency.

By reducing manual effort, RPA lowers operational costs associated with repetitive accounting tasks.

By automating mundane tasks, accountants can focus on higher-value activities such as analysis and decision-making.

RPA follows predefined rules and audit trails, ensuring adherence to regulations and consistent compliance.

RPA minimizes human errors in data entry, calculations, and reconciliation, ensuring accurate financial records.

RPA can integrate with existing accounting systems, making implementation and process improvement smoother.

Schedule a Free Consulting Session

Not sure if RPA can bring change to your accounting operations?

Schedule a 30-min free consulting session and hear about solutions to challenges you are facing.

Why RPA for Accounting with Flobotics?

Why Flobotics for RPA development?

The Automation You Can Afford

Thanks to our competitive rates, we can build cost-efficient RPA automation and maximize your ROI starting from the development phase.

Top RPA Consultants

Our battle-proven consultants are sourced from the “Big Four” of accounting: PwC, EY, KPMG & Deloitte, and combine extensive technical and business expertise.

We Will Work With All Your Apps and Systems!

Regardless of your tool stack, we can automate it and build full interoperability between your systems, including legacy and API-lacking situations.

Compliance and Security

Compliance with ISO, SOC2, current IRS requirements, and other regulations is at the core of our automation.

  • 350%

    Average ROI increase from a single automation

  • 100+

    Successful RPA implementations

Proven RPA Services for Accounting

Our Publications About RPA for Accounting

Try out RPA for Accounting!

Bring Robotic Process Automation to your company and automate your accounting.
Schedule a free consulting session with our accounting automation expert.

RPA Solutions for Accounting: Transform Your Finance Operations

In the fast-paced accounting world, staying ahead requires leveraging cutting-edge technologies to streamline operations and enhance productivity. Robotic Process Automation (RPA) for accounting is revolutionizing how businesses manage their financial processes. Automating repetitive and time-consuming tasks, RPA enables accounting professionals to focus on more strategic, value-added activities, ultimately driving growth and efficiency.

What is RPA for Accounting?

RPA for accounting involves using software robots to automate rule-based tasks that are traditionally performed by human employees. These tasks include data entry, invoice processing, reconciliations, and reporting. RPA bots work around the clock, ensuring accuracy and efficiency, reducing human error, and freeing up valuable time for accounting professionals to concentrate on complex and strategic tasks.

Key Benefits of RPA for Accounting

Improved Accuracy and Compliance

RPA eliminates human error by automating data-intensive processes, ensuring compliance with regulatory standards and reducing the risk of financial discrepancies.

Enhanced Productivity

By automating mundane tasks, RPA allows accounting teams to focus on higher-value activities such as financial analysis, strategic planning, and decision-making

Cost Savings

Automating repetitive tasks reduces operational costs, as RPA bots can perform tasks faster and more accurately than humans, leading to significant cost savings.

Scalability

RPA solutions can easily scale with your business needs, handling increased volumes of transactions without the need for additional human resources.

Faster Turnaround Times

RPA significantly reduces the time required to complete accounting processes, ensuring faster turnaround times for critical tasks like financial reporting and month-end closures.

Common Use Cases of RPA in Accounting

1. Invoice Processing:

Automate the extraction, validation, and entry of invoice data into accounting systems, reducing the time and effort required for manual processing.

2. Accounts Reconciliation:

Streamline the reconciliation process by automatically matching transactions, identifying discrepancies, and generating reconciliation reports.

3. Financial Reporting:

Automate the generation and distribution of financial reports, ensuring timely and accurate reporting with minimal manual intervention.

4. Expense Management:

Automate the processing of expense reports, from submission to approval, ensuring compliance with company policies and speeding up reimbursement cycles.

5. Payroll Processing:

Automate payroll calculations, tax deductions, and payments, ensuring accuracy and compliance with labor laws and regulations.

Why Choose Flobotics for RPA in Accounting?

At Flobotics, we specialize in providing comprehensive RPA solutions tailored to the unique needs of accounting and finance functions. Our team of experts, sourced from the “Big Four” accounting firms, brings extensive technical and business expertise to deliver high-quality automation solutions.

Proven Track Record

Our battle-proven developers have successfully implemented RPA solutions for numerous clients, delivering significant improvements in efficiency and accuracy.

Customization

We understand that every accounting department is unique. Our customized solutions fit your specific processes and requirements, ensuring maximum ROI.

Compliance and Security

We prioritize compliance with industry standards and regulations, ensuring that our automation solutions are secure and reliable.

Scalable Solutions

Our RPA solutions are designed to scale with your business, enabling you to handle increasing volumes of transactions without additional human resources.

Transform Your Accounting Operations Today

Embrace the future of accounting with RPA solutions from Flobotics. Automate your repetitive tasks, enhance accuracy, and drive efficiency across your finance operations. Contact us today to learn more about how our RPA solutions can transform your accounting processes and give your business a competitive edge.

Automate Your Accounting Processes!

Reach out and see what can be done for your business!

What are the use cases of RPA for accounts payable workflows?2024-02-26T23:59:59+01:00

Use cases of RPA for accounts payable workflows encompass automating tasks such as invoice processing, data entry, vendor management, payment reconciliation, cash flow management, compliance checks, payment approvals, report generation, expense tracking, and handling exceptions. RPA streamlines accounts payable operations by eliminating manual intervention, reducing errors, enhancing processing speed, ensuring accuracy, improving compliance, optimizing resource utilization, and ultimately transforming how financial transactions are managed within the accounts payable domain.

What are the examples of RPA in accounting?2024-02-26T23:53:44+01:00

Examples of Robotic Process Automation (RPA) in accounting encompass various tasks like automating data entry for invoice processing, reconciling accounts receivable and accounts payable, generating financial reports, streamlining payroll processing, automating expense management, conducting compliance checks, handling audit trail processes, assisting in bank statement reconciliations, automating journal entries, managing intercompany transactions, and optimizing tasks related to month-end closing procedures. RPA applications in accounting focus on automating repetitive, rule-based tasks to enhance accuracy, efficiency, and productivity within financial operations.

What are the key benefits of using Robotic Process Automation for accounting?2024-02-26T23:51:25+01:00

Leveraging Robotic Process Automation (RPA) in accounting offers significant advantages, including automating data entry for invoice processing, enhancing accuracy in reconciliation tasks, improving speed in financial report generation, streamlining payroll processing with precision, minimizing errors in expense management, optimizing compliance checks, increasing efficiency in accounts payable and receivable, reducing cycle times for month-end closing, enhancing audit trail accuracy, and elevating overall operational productivity within financial departments.

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