Having robots do daily tasks and help people run businesses is no longer just a concept in sci-fi movies. With Robotic Process Automation, or RPA, it’s now a highly practical part of our reality today. However, when we talk to prospective clients about what our managed finance department team at Dexterous does differently and then discuss robotic process automation – we still get strange looks.
After all, business owners and executives rarely hear their Accountant, CFO or Bookkeeper talk about robots and how they can help with all of the finance functions in their business. However, our reality is: they can! So, in this article, let’s discuss Robotic Process Automation and Finance – and the roles they play in both transforming your finance department and growing your business.
What is Robotic Process Automation?
Robotic Process Automation (RPA) is an innovative software technology that allows businesses to build and utilise software robots that emulate human processes to complete repetitive and mundane tasks using digital systems. Like the humans in your team, RPA allows software robots to undertake basic activities such as processing information on a screen, extracting data and performing various pre-defined actions. Since they are digitised and automated, these software robots can do tasks more consistently and considerably faster than people.
What are the benefits of Robotic Process Automation?
RPA effectively streamlines basic repetitive business processes and increases operational efficiencies. It also removes manual, monotonous workloads from your staff so they can focus on high-level tasks which are more profitable for the business. Other business benefits of using RPA include:
- Cost savings
Because software robots can do more tasks in less time, they can streamline your ongoing processes and reduce the cost of operations. With its aid, your staff can then spend less time on manual, tedious tasks and gain more opportunities to focus their time on more rewarding work.
- Increased accuracy and compliance
RPA reduces the likelihood of mistakes in the execution of daily tasks. As RPA is fully automated, you can also embed your specific requirements and log all the actions taken by the software robots, ensuring that everything is done securely and accurately.
- Better employee and customer engagement
With manual tasks out of the way, your staff will have more time to interact with each other, foster a healthy working environment and focus on communicating your business’ value to your customers.
But what do RPA and Finance have in common?
Our answer: Dexterous. As your Managed Finance Department, we believe that RPA is no longer a sound bite in a presentation about the future. It’s here now and it’s something you should capitalise on to streamline your finance functions. So, we not only offer you the benefits of a Finance Department as a Service (FDaaS) – we combine this with the benefits of RPA technology too. By merging RPA tech with the expertise of our Accountants, Bookkeepers, CFOs and other finance professionals, you can have a finance department that accelerates your growth more efficiently and effectively than ever.
The combined benefits of a Managed Finance Department with RPA
At Dexterous, we are driven by technology and are always proactive in adopting industry best practices so we can build a financial team tailored to your business needs. That’s why we leverage RPA solutions so your business can experience the following advantages:
- Elevate the conversations your finance team are having and instead of questioning data integrity, they’re focusing on data insights. [spacer height=”10px” id=”2″]
- Keep the internal staff more engaged as they move away from data collation and trawling spreadsheets. [spacer height=”10px” id=”2″]
- Get higher value for the business through action-orientated conversations with staff who are looking at data with a fresh pair of eyes.
The difference that RPA brings to Finance
RPA and automation are doing what outsourcing or offshoring did in the early 90s – which was revolutionise the way we approach business operations. As a business, Dexterous is proactively adopting these new practices and we are committed to making sure that businesses across Australia can experience the benefits of RPA when combined with their internal finance functions.
Today, more and more businesses of all sizes and industries are seeing the value of RPA in undertaking all finance and accounting tasks. As a technology-driven team, we are committed to seamlessly integrating innovative systems such as RPA into our Managed Finance Department solution. With automation, our growth-focused finance professionals have developed a robust, accurate process that will help businesses like yours reach its full potential, make well-informed decisions and become more efficient along your growth trajectory.
Get your own RPA-powered finance department today
If you have manual or bespoke finance tasks that you want to be managed with more accuracy and efficiency, or if you’re curious about how you can streamline these finance functions through RPA, Dexterous is here for you. At Dexterous, we’re about identifying a solution that works for you through a financial, operating and growth lens.
This means that we leverage all the latest tools including Robotic Process Automation (RPA), access global talent and manage your finance department with the local expertise of our Sydney team. Reach out to Dexterous and transform your finance department today. For more information, get in touch with us today or connect with us via LinkedIn.
