Robotic process automation in the Finance function of the future

Finance needs to prepare for it

  Finance functions are under significant pressure across all industries but specifically in Financial services sector. Some of the major challenges are to shrink costs and support decreasing margins, to improve speed, volumes and quality of information provided, to focus on delivery of value adding insights to the business.

Robotic process automation (RPA) is quickly evolving to a new hot topic in the Finance world. Its significant potential to become a differentiator also in Finance functions has become evident. And most of large players in the Financial services sector are either assessing possibilities to benefit from this new solution or even proceeding with the first implementations.

The RPA implementation burdens (costs and timelines) are relatively insignificant, compared to major IT platform updates. And therefore it is likely that RPA will quite quickly convert from a differentiator delivering a competitive advantage to a standard practice, that needs be followed for survival.

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