Top RPA Solutions for Finance & Accounting Departments

Automate mundane and time-consuming processes in finance and accounting with the help of software bots. Have more time for strategic planning and cut down operational costs.

5/5 clutch vetted

Clutch 5 star review

Top RPA Solutions for Finance & Accounting Departments

Automate mundane and time-consuming processes in finance and accounting with the help of software bots. Have more time for strategic planning and cut down operational costs.

Finance and accounting automation

5/5 clutch vetted

What Can RPA Do for Finance & Accounting?

Vendor Management and Onboarding

Validate vendor data against predefined criteria with RPA, generate vendor accounts, and manage communication with vendors.

Regulatory Compliance and Reporting

Automate regulatory compliance tasks, including data collection, verification, report preparation, and ensuring accurate data submission.

Financial Data Entry, Analysis and Reporting

Automate entering transaction data, journal postings, bank reconciliations, extracting information, conducting calculations, and distributing reports to stakeholders.

Accounts Payable (AP) and Receivable (AR)

Streamline AP and AR workflows with the help of RPA bots by automating invoice matching, payment processing, and reconciliation.

Expense Management

Automate expense reporting, validation, and reimbursement processes, enhancing efficiency and compliance.

Order fulfillment

Process one order in seconds instead of minutes and make sure there is no room for human errors left.

Expense Management

Automate expense reporting, validation, and reimbursement processes, enhancing efficiency and compliance.

RPA bots easily emulate the work of your workers:

RPA FOR INSURANCE [THE CASE STUDY]

Automating a Tax Return Process

Mystic River Consulting on behalf of one of the top debt relief programs from California.

We’ve 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.

Watch the RPA bot automatically process an invoice.

2818

hours of manual work saved/weekly

$100K

saved on employee costs

2 bots

built for the automation

  • ~60%

    of finance & accounting activities are automatable (McKinsey)

  • 31%

    average cost savings achieved in finance with RPA (Bain)

  • 80%

    of financial leaders have implemented or have intentions to implement RPA in their businesses (Gartner)

RPA for Finance & Accounting – What is There to Gain?

Finance and accounting departments, with their repetitive processes, offer numerous optimization opportunities through Robotic Process Automation. RPA is not just about making single processes more effective; it’s also about a bigger-scale business impact.

Enhance Efficiency and Eliminate Errors

By automating manual processes, employees can focus on more strategic tasks that require critical thinking and decision-making. Increased efficiency leads to higher productivity, allowing teams to accomplish more in less time and improving overall operational performance.

Decrease Operational Costs

Automation reduces the need for manual intervention in routine finance and accounting tasks, leading to cost savings by lowering labor costs and decreasing the risk of errors that could result in financial discrepancies or regulatory penalties.

Improve Compliance and Audit Trail

Maintain accurate records, facilitate audits, and provide a transparent audit trail for regulatory authorities by automating processes such as financial reporting, auditing, and regulatory filings.

Elevate Vendor Experience

Ensure timely and accurate payment delivery, quick response times, and improved data analysis, leading to enhanced vendor satisfaction and loyalty.

We Will Work With All of Your Systems and Tools

QuickBooks Xero HubSpot FreshBooks Wave Zoho Books Sage Intacct NetSuite Kashoo MYOB AccountEdge Invoice2go Hiveage Zoho Invoice Due Bill.com Invoicera Harvest PaySimple Blinksale Sighted Expensify Concur Zoho Expense Rydoo Abacus Divvy Receipt Bank Tallie SAP Concur Certify Adaptive Insights Centage Budget Maestro Float PlanGuru BudgetPak Scoro Quicken BudgetEase Dryrun Budgyt Tableau Power BI Jet Reports Sisense Looker MS Word MS Excel Google Sheets Google Docs Outlook Mode Analytics Domo IBM Cognos Analytics Chartio Klipfolio Gusto ADP Workforce Now Google Slides Paychex Flex Zenefits Notion BambooHR Jira Square Payroll Wagepoint Paycor Justworks SurePayroll TurboTax H&R Block TaxAct Avalara Vertex Slack Drake Tax ClickUp Microsoft Dynamics 365 SAP ECC MS Word MS Excel Google Sheets Google Docs Outlook LibreOffice ProConnect Tax Online Thomson Reuters UltraTax CS Wolters Kluwer CCH Axcess Tax ATX FreeAgent Tipalti OneUp Plooto ZipBooks Reach Accounting SlickPie Crunch BlackLine Sunrise
HTML SQL Hive Curdbee BlinkInvoice Elorus Invoiced Due.com Avaza Envoice Invoice Ninja Invoice Sherpa PEX Fyle Veryfi SAP Concur Expense DATABASICS SutiExpense Zoho Subscriptions Fyle Itemize Dropbox Sharepoint M-Files Abak360 HTML SQL MSSQL Vena Solutions Poindexter Planful Kepion True Sky Budget Maestro Budgyt idu-Concept Dryrun Float Cash Flow QuickSight FineReport Holistics Metabase Cyfe Databox Slemma Geckoboard datapine Yellowfin BI Namely APS Payroll HTML SQL MSSQL Fuse Workforce Management Fingercheck Netchex SurePayroll Viventium EPAY Systems Dominion Systems Apex HCM Drake Tax ProSeries Tax UltimateTax TaxSlayer Pro Canopy Tax TaxJar Bloomberg Tax Intuit ProConnect Tax TaxDome Wolters Kluwer CCH Axcess Tax Anaplan Host Analytics XLerant Adaptive Planning
Jedox Tagetik Oracle Hyperion Planning Prophix Workday Adaptive Planning Resolver LogicManager RiskWatch ProcessGene GRC Sphera BWise Origami Risk Optial Quantivate LogicGate Kyriba GTreasury Reval OpenLink ION Treasury FIS Quantum Cashforce TreasuryXpress SunGard AvantGard Bellin Salesforce Microsoft Dynamics 365 Finance HubSpot Finance Hub Pipedrive Insightly Zoho CRM Copper bpm online CRM Nutshell Freshsales Sisense TIBCO Spotfire Qlik Sense RapidMiner IBM Cognos Analytics ThoughtSpot Pyramid Analytics Yellowfin BI GoodData Alteryx Domo Looker Periscope Data Chartio Klipfolio Mode Analytics Dundas BI Birst SAP BusinessObjects ClicData Stripe Square PayPal Braintree AuthorizeNet Adyen Worldpay BlueSnap Ayden Fiserv eFront SimCorp Dimension FactSet Backstop Solutions Advent Portfolio Exchange Eze Software Investment Suite Charles River IMS
Aladdin by BlackRock StatPro Revolution SS&C Advent Geneva Galvanize HighBond BlinkInvoice Ideagen Pentana MetricStream ACL Robotics Wolters Kluwer TeamMate Greenlight Guru Enablon Sparta Systems TrackWise NAVEX Global Libra Xpansiv Bloq Clear SutiExpense R3 Corda Hyperledger Fabric ConsenSys Quorum B3i ChromaWay Chain Kickstarter Indiegogo GoFundMe Crowdcube Seedrs Patreon Crowdfunder Fundable Kiva Fundly Investopedia Wall Street Survivor The Motley Fool Compliancy Group LogicManager Quantivate ZenGRC Riskonnect Rsam NAVEX Global Lockpath SAI360 Resolver DocuWare M-Files Laserfiche eFileCabinet SharePoint Box Google Workspace Zoho Docs Bitrix24 CCH Axcess Document Plaid Yodlee Xignite Finbox Intrinio Alpha Vantage OpenFin TrueLayer Quandl Clearbit Quantrix Tidemark Finbox Visible Equity Synario Lucidchart Hive Fyle

By automating manual processes, employees can focus on more strategic tasks that require critical thinking and decision-making. Increased efficiency leads to higher productivity, allowing teams to accomplish more in less time and improving overall operational performance.

Automation reduces the need for manual intervention in routine finance and accounting tasks, leading to cost savings by lowering labor costs and decreasing the risk of errors that could result in financial discrepancies or regulatory penalties.

Maintain accurate records, facilitate audits, and provide a transparent audit trail for regulatory authorities by automating processes such as financial reporting, auditing, and regulatory filings.

Ensure timely and accurate payment delivery, quick response times, and improved data analysis, enhancing vendor satisfaction and loyalty.

Schedule your Live RPA Demo

Not sure if RPA can work for your finance and accounting departments? Let’s check that together! Schedule a demo and see how RPA magic can automate your workflows.

Why Flobotics for Finance and Accounting Automation?

Why Flobotics for Finance and Accounting Automation?

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 Experts

Our battle-proven developers 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 the systems, software, and tools you use- ERP, CRM, or databases. We can automate and integrate them all!

Full Compliance & 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

Our Publications About RPA for Finance & Accounting Departments

Bots You Can Bank on — What’s RPA for Finance and What’s in It for You?

Bots You Can Bank on — What’s RPA for Finance and What’s in It for You?

The finance industry is known for strict regulations, heavy use of data, and reliance on well-defined processes. Unravel the automation challenges and opportunities in the world of financial services for Robotic Process Automation!

Bots You Can Bank on — What’s RPA for Finance and What’s in It for You?
Keep Bookkeeping Easy — Why Should You Consider Automating Your Accounting Processes?

Keep Bookkeeping Easy — Why Should You Consider Automating Your Accounting Processes?

Many accounting tasks are performed manually or in a semi-automated fashion, being quite tedious and straightforward. RPA solutions remove many of the risks involved in their execution and improve their performance accuracy, efficiency, and speed. See what can be done in your company.

Keep Bookkeeping Easy — Why Should You Consider Automating Your Accounting Processes?
Automate Finance and Accounting Processes in Your Organization

Bring Robotic Process Automation to your company.
Let us know your needs and challenges, and we’ll build a free RPA demo to solve one.

Revolutionizing Finance and Accounting Operations with RPA Automation

In an era marked by digital transformation, the role of technology in revolutionizing traditional finance and accounting operations has become more crucial than ever. Finance and accounting departments face a myriad of challenges, from labor-intensive manual processes to stringent regulatory requirements and the need for data accuracy. Addressing these challenges head-on, Robotic Process Automation (RPA) has emerged as a game-changing solution, empowering organizations to streamline workflows, enhance efficiency, and drive innovation in finance and accounting functions. Delve into the transformative power of RPA in finance and accounting departments, explore the key areas that can be automated, and the myriad benefits of embracing automation in these critical business functions.

Challenges in Finance and Accounting Departments

Finance and accounting departments are often burdened with a range of challenges that stem from manual, time-consuming processes and the complexity of regulatory compliance. Common challenges include:

Manual Data Entry

Manual data entry tasks are error-prone, time-consuming, and can lead to discrepancies in financial records.

Repetitive Tasks

Routine tasks such as invoice processing, reconciliation, and report generation can consume significant resources and hinder productivity.

Compliance Regulations

Meeting stringent regulatory requirements and maintaining accurate records can be laborious and subject to human errors.

Resource Constraints

Limited resources and the need to allocate staff to higher-value activities can impede operational efficiency and hinder strategic decision-making.

What Can Be Automated for Finance and Accounting Departments

RPA presents a viable solution to address these challenges by automating a wide array of finance and accounting tasks, including:

  • Data entry and validation: Automating data entry tasks to reduce errors and improve accuracy.
  • Invoice processing: Streamlining the invoice handling process, payroll from receipt to payment.
  • Reconciliation: Automating bank reconciliations, intercompany reconciliations, and ledger reconciliations.
  • Reporting: Generating financial reports, management reports, and compliance reports automatically.
  • Compliance checks: Automating compliance checks, regulatory filings, and audit procedures.

Benefits of Implementing RPA in Finance and Accounting Departments

Enhanced Efficiency and Productivity

RPA streamlines repetitive tasks, allowing employees to focus on strategic activities that drive business growth. Enhanced efficiency leads to increased productivity and operational agility.

Improved Accuracy and Data Quality

Automation minimizes errors associated with manual data entry, ensuring data accuracy and integrity in financial records. Reliable data leads to better decision-making and financial reporting.

Cost Savings and Resource Optimization

By automating routine finance and accounting tasks, organizations can reduce labor costs, eliminate inefficiencies, and optimize resource allocation. This results in significant cost savings and operational efficiency gains.

Compliance and Audit Trail

RPA ensures compliance with regulatory standards by automating compliance checks, audit procedures, and regulatory filings. Organizations can maintain accurate records, facilitate audits, and mitigate the risk of non-compliance penalties.

Conclusion

Robotic Process Automation (RPA) is a transformative technology that holds immense potential for revolutionizing finance and accounting operations. By automating manual tasks, streamlining workflows, enhancing accuracy, and ensuring compliance, RPA empowers finance and accounting departments to operate more efficiently and effectively in the digital age. Organizations that embrace RPA automation in finance and accounting functions stand to gain a competitive edge, drive innovation, and unlock new opportunities for growth. With the power of automation at their fingertips, finance and accounting departments can navigate the complexities of modern business environments with agility, precision, and confidence, paving the way for a more streamlined and prosperous future.

Automate your Finance and Accounting Processes!

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

Photo of Filip Nasiadko - CEO of Flobotics
What are the benefits of RPA in finance and accounting?2024-03-11T08:48:55+01:00

RPA in finance and accounting offers numerous benefits, such as increased operational efficiency, improved accuracy, enhanced compliance, cost savings, and faster processing times. By automating repetitive and rule-based tasks like data entry, reconciliation, and report generation, RPA reduces errors, enhances data quality, and streamlines financial processes. Additionally, RPA enables organizations to handle high volumes of transactions efficiently, ensure regulatory compliance, and free up employees to focus on strategic tasks that require human judgment and expertise. Overall, RPA optimizes workflows, reduces manual effort, and drives productivity in finance and accounting operations.

What are examples of RPA in finance and accounting?2024-03-11T08:45:39+01:00

Examples of RPA in finance and accounting include automating tasks like invoice processing, accounts payable and receivable reconciliation, data entry for financial statements, payroll processing, vendor management, and compliance reporting. RPA bots can extract data from various sources, perform calculations, validate information across systems, and generate reports with high accuracy and efficiency. By implementing RPA in finance and accounting processes, organizations can reduce manual errors, increase productivity, ensure regulatory compliance, and free up staff to focus on more value-added activities.

Interested in Something Else?

Get your Processes Audited

Hire RPA Developers
to Join your Team

Schedule an
RPA Consultation

Go to Top