In recent years, accounting firms either voluntarily or by compulsion have started deploying robotic automation. The firms who have implemented this are in a privileged position as their robotic workers are eliminating unnecessary operational cost by simultaneously improving productivity & efficiency.

67% of UK business executives report being satisfied with the results of their automation initiatives so far – and are experiencing business benefits as a result. 73% of UK firms expect their companies operating costs to improve as a result of automating business processes – whilst 65% predict revenue growth and 62% forecast increased profitability.

Whilst, statistics are encouraging, yet if automation does not give the firm anticipated results, then many firms will be dissuaded from using automation. Failure of automation is attributed often to taking the wrong process to automate. However, identifying the right process is also a challenging job.

Also read : STOP upgrading your accounting software (and try robotic automation instead)

What are the tips to select the appropriate automation process in your accounting firm?

1. Distinguish tasks - where robotic bots excel and human excel:
   When tasks or processes are selected at an accounting firm for automation, eg. accounting automation, payroll automation, bookkeeping automation etc. First, try to distinguish how this work is performed between humans and machines.
   In the case of Robots:
   
   • Execution of work as per the instructions or code written for them.
   • Input is based on structured information and data, and the results are expected outcomes.
   • Specialised in performing repetitive, data based, mundane and choreographed tasks. Therefore, results are accurate, rapid and efficient.
   
   In the case of humans:
   
   • Execution of work is organic, depending upon the situational demand.
   • Input is based on an unstructured and analog data set.
   • Specialised in performing tasks which requires analytical abilities, uncertainty and creativity.
   
   Therefore, before selecting tasks suitable for automation, understand if there is a requirement for human input for robotic execution.
2. Ascertain processes - if they are capable of deploying robotic automation:
   It is necessary to ascertain the automation potential of a process. On the surface or superficial level, the process might look simpler. Once you start automating the process, there are chances of interruptions because of mandatory human input. Thereby, it causes more disruption to the activities rather than adding any advantage.
   Therefore, the points to note are:
   
   • Identify a process which has predefined rules, where human interaction is not necessary.
   • Ensure the process is consistent and scheduled according to the rules set in the program.
   • Allow the input data to be structured and legible in order to receive accurate outcomes.
3. Appraise process - if there is utility value of deploying robotic automation:
   Before you give a green signal for deploying robotic automation it is necessary to question the utility value derived through automation. The benefits you would achieve should be more than the expenses incurred. Automation implementation needs to reflect in the form of
   
   • Elimination of repeated and avoidable errors done by humans
   • Achieve accuracy, efficiency and rapidity of the processes in comparison to humans
   • Curtail additional costs incurred if humans were doing the same tasks.
4. Team Building process - brings together all parties for a smoother deployment:
   Every new technology introduced in any firm will face inordinate negative views and resistance. Yet firms go beyond the critical challenge and start implementing for the overall benefit. The team should be involved in introducing automation, like bookkeeping automation or payroll automation etc. to ensure support from the staff.
   
   • Advocate the benefit to the stakeholders and help them understand the need for automation.
   • Management approval is essential as they are the key party approving the budget for automation. They need to be educated on ROI in both the short and long term.
   • Employees need to be involved in the process, as they know the areas where they have their shortcomings. Further, they need to be assured of their job except that there will be some changes in their day to day work.
5. Implement process - if the returns are easily visible at an early stage:
   Robotic automation implementation is done by firms in various ways, some do all of it in one stage, some in phases. Whatever the criteria selected by the firms, always implement processes where the results are easily visible for reassuring the team. They are likely to have impactful effects are tasks :
   
   • High volume transactions - which are time consuming but robotic automation bots excel doing them.
   • Repetitive and standardized transactions - again it eliminates errors and saves time where bots have an advantageous position.
   
   Within a short span of time, all involved in the tasks will witness the positive results unfolding from the operational, financial and customer service point of views.

Also read : What are the eight important metrics used to measure the success of RPA ROI?

From this we can infer that automation does not fail if the right processes are selected. As an accounting automation service provider, we have automation for many accounting processes that would be suitable for the needs of your firm. Call us to see how bots can deliver quick results to your accounting firm.