More and more companies are turning to Robotic Process Automation (RPA) to increasingly automate time-consuming activities. Although many entrepreneurs still fear that the switch will entail high costs, the advantages of innovative software robots are obvious. They lead to greater efficiency and satisfy 80% of the companies surveyed in the current PwC study . But what progress has been made in the DACH region and how does the application of RPA work in accounting?
Lack of willingness as the biggest challenge
57% of the companies surveyed have not yet dealt with the use of RPA. This illustrates that there is often still a lack of willingness to break new technical ground and combine robotics with internal administration. 72% of the companies surveyed do not want to do without human employees, even if they are successfully integrated.
Around a third are not planning to use RPA in the future because the topic is considered too complex or there is a lack of time capacity. Difficulties in understanding are also a frequently cited reason why companies in the DACH region have so far increasingly relied on tried-and-tested concepts and are not planning any technical optimization.
Robotic Process Automation ideal for bookings and controlling
84% of all respondents see the greatest advantages in the time saved. But the creation of understandable and structured processes is also one of the main advantages when it comes to the implementation of modern software robots. They are particularly common in accounting, as postings and reporting are among the frequently repeatable activities. A holistic RPA strategy can connect numerous applications to optimize operational utilization.
RPA relieves the burden, overcomes media discontinuities and promotes a focus on more complex, value-adding activities, which is why the potential is recognized by many companies. Industry and company size are completely irrelevant at this point, which means that automation can always be expanded.
The most common fields of application in accounts receivable and accounts payable
RPA can be used in many accounting processes. Accounts payable and accounts receivable in particular are already benefiting from the opportunities offered by RPA.
In accounts payable, 47% of companies plan to expand RPA activities. So far, these have primarily included the reconciliation of orders and invoices as well as the recording of orders and invoices. The trends in accounts receivable accounting show a similar view. In this area, 44% of companies plan to expand RPA. In particular, receivables management and the creation of outgoing invoices are outsourced in this area of expertise.
About half of the processes supported by RPA are processes in shared service centers. Processes and tasks in shared service centers or with external service partners (BPO) are well suited for RPA. They are often standardized and precisely documented to a high degree, as well as predominantly rule-based and repetitive. These are ideal conditions for the integration of automation via software bots.
Optimization potential not yet exhausted
Even though the statistics show that more and more companies are relying on RPA, many users are still in the test phase. 58% of all companies with software robots use only one to five robots and only 5% of respondents use more than twenty bots. This makes it clear that the big step towards automation has not yet been taken.
A current challenge lies in the responsibility for implementation. So far, 70% of this has been done exclusively by the IT department. However, the corresponding know-how regarding the processes to be automated lies with the specialist department. Therefore, more and more companies are relying on coordinated automation with external support or in the course of outsourcing accounting tasks to specialized service providers.
So-called Smart BPO as a symbiosis of outsourcing and automation ensures seamless process work. Parts or entire processes in finance and accounting are taken over with the integration of RPA. This leads to a significant reduction in repetitive tasks, improved accuracy and creates a high level of operational flexibility.
Through experienced outsourcing partners in accounting, companies have access to the necessary expertise in terms of process depth and handling of the new technology. Although only 9% rely on the completely external implementation of implementation and maintenance, 80% work is done with external support for the integration.
Allow automation step by step
The willingness for technological change in accounting is growing. In addition, more than half of the study participants expect that data processing will no longer be manageable with internal capacities. In the area of accounting, 51% see capacity bottlenecks in the future. Nevertheless, many companies are still critical when it comes to the mechanization of their own departments. However, if the current test phases are positive, many companies will follow suit and make their accounting more efficient with the help of virtual employees.
Do you want to use Robotic Process Automation in accounting? Or do you have concerns? How do you assess the possibilities of RPA for your accounting? We look forward to your comments.
Image source: Pixabay, Photographer: kiquebg
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