RPA in Finance and Accounting

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Robotic Process Automation in Finance and
Accounting
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What is RPA in Finance and Accounting?

• The department that manages financial operations
  in almost all organizations is often under the
  ever-mounting pressure in doing more in lesser
  time. In addition to this, there has to be
  maintained transparency in all the processes.
  There is no room for errors. The most minor of
  mistakes can turn into a substantial financial
  loss.
• This evidently calls for Automation in finance
  and accounting. RPA robotic process automation
  helps move the operations and functioning from
  manual processes to an automated and more
  efficient one. The recurring and monotonous tasks
  like data entry, maintaining excel spreadsheets,
  etc. are remarkably taken over by RPA.

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Top 4 Use Cases of RPA in Finance

• RPA use cases in finance will highlight how it
  miraculously reduces the silos in your business
  budget for various departments by handling them
  thus improving the financial health of the
  company.

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Accounts Receivables

• The cash flow and financial closing is a crucial
  factor in maintaining equilibrium. It is
  important that the continuity between invoice
  generated and payment is made. With hundreds of
  transactions happening in a day, completing this
  task with 100 accuracy is fairly difficult and
  might require many employees.

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Inventory Management

• Another section of any company especially one in
  production and manufacturing that has a heavy
  flow of journal entries and necessitates
  financial planning is the inventory and
  warehousing management department.

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Payment Processing

• RPA is capable of automating all the pre and
  post-payment processes. It not only validates the
  authenticity by monitoring and identifying any
  duplicate, fraudulent, or missing payments, but
  it also validates and registers the complete
  ones.
• RPA can be used as a cloud solution. This makes
  the storage and data extraction extremely easy
  and secure. There is both validation and
  reconciliation of all the payments automatically.

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Customer Onboarding

• RPA makes knowing your customers easy as there is
  auto retrieval of all data about your prospective
  customers. It filters out the most suitable ones
  and your employees have to only work with the
  creamy layer leading to higher productivity.

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Contact US

• Email info_at_narola.email
• Contact number 1 [phone]
• Website https//www.narolainfotech.com/robotic-pr
  ocess-automation-company

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