What are the seven constructive habits the accounting RPA team should possess?
May 08, 2024
Robotic Process Automation (RPA) has succeeded to reach all the corners of the globe within a short span of time. From reports received from various trade experts, the amount that companies spend on robotic automation bots is showing an upward graph with no signs of receding. As per Forrester reports, the RPA market is forecast to be $2.9 billion, this year.
The impact of robotic automation bots has given rise to changes on how work needs to be performed. This simple tool has became influential due to functionality in the form of
- Lower risk to deploy
- Higher returns (financially and non-financially)
- Greater flexibility to cater to the entire spectrum of industries.
- Relieves humans to perform other productivity tasks.
Along with the benefit arises challenges, where every department at an organization will not cooperate to reorient the way they need to function after automation is implemented. Issues and concerns arise due to various forms of ideological difference, cost concerns, management approval, employee resistance, inter-divisions communication etc.
Also Read: What criteria is important in selecting the right automation vendor?
To build this bridge, the RPA team needs to have essential characteristics to have a ‘win-win formula’.
Let us find out how they can attain their goals:
- Cultivate inclusiveness for striking up a rapport with the employees:
Robotic automation is meant to elevate employees to a better position in their job profile. In order to achieve this success, many tedious, repetitive and time consuming structured tasks are taken care of through automation. However, employees are initially unaware of their benefits; they welcome this through resistance, non-cooperation towards the team.
For bringing change in employee attitude, cultivate the culture of inclusiveness through :- Tutoring employees the welfare of Robotic automation by including them to the discussion (bottom-up approach).
- Encourage them to share their ideas and problems they face.
- Give them the opportunity to suggest solutions helping automation.
- Choose processes that are simpler, easier and faster for automation:
The RPA team, in order to prove management the effectiveness of automation, need to select processes that are simpler to automate. With the support of employees they can very well avoid complex or critical processes. In order to achieve successful results, identify processes or tasks which have- Heavy volume of transactions
- No human intervention or very miniscule human intervention
- Repetitive, time consuming and error prone
- The pathway is standardised and needs no alteration in the future
- Tasks that are easier to scale as per the need
- Create a roadmap from the beginning to attain full results:
Robotic automation is not limited to just limited tasks or processes, it encompasses the entire work structure of the company. Therefore, the RPA team needs to forecast the requirements from day one to achieve operational efficiency. In order to have an effective roadmap in place, the key points to be noted are:- Ascertain the time duration required for each process
- Ensure the processes are implemented at different stages
- Access the process strengths and weaknesses
- Calculate the cost involved for achieving them
- Selection of the right vendor for implementing
- Methodology for the implementation
- Management and government approvals in place
- Calculate the ROI:
Management prefers to see their return on investment in forms such as, monetary, productivity, customer satisfaction etc. Whatever the form might be but ultimately, it needs to bring value to the organization.
Robotic automation is enabled to bring efficiency, consistency and accurate results. This can be achieved through employing funds for initiating automation in the organization. Depending upon the priorities and allocation of time and resources, the team can persuade management. A thorough research needs to be done and ROI can be calculated quite easily. - Collaborate with the similar technology solution providers:
It is not necessary that firms need to think only in terms of competition and challenges. It is time to extend beyond the borders, by creating synergy with similar solution providers. Not every automation problem can be resolved by an internal team, you can extend your search by integrating with compatible solution providers who have prior experience in deploying these. - Coaching and recruiting human resources with RPA skills
Even though you can rely on third party service providers for daily tasks. A competent internal team with RPA skill sets needs to be recruited to do smaller tasks in-house itself.
It is an added advantage if you provide RPA training to your own team. Through collaboration with training institutes, they can updated with the latest information. Your staff also have the flexibility of getting online certification at their own convenience. - Compliance and criticality of security:
When robotic automation is deployed among various departments in the form of accounting automation, bookkeeping automation, accounts payable automation, payroll automation, etc. Then we are dealing with confidential data, then it becomes the responsibility of the RPA team to have control over this data.
The Team needs to be very careful to address these issues related to compliance and keep a vigil on sophisticated cyber threats. Any company which addresses and boosts security of its client data, shares an unilateral goodwill and reputation in the market.
Also Read: “Robot” as a fellow worker - a trusted friend or despised foe?
If you are interested in supporting your Robotic automation team, please contact us and we will help you in your endeavors and guide you through.
Schedule Your Free Demo
With our accounting automation experts
Find out how other practices have benefited using Integra Balance AI bookkeeping automation. 87% of practices who viewed AI bots in action have instantly discovered the advantages of using them at their firm.
Global Offices
US (Head Quarters)
Integra Global Solutions Corp
7500 Brooktree Road, Suite 100
Wexford (Pittsburgh)
PA 15090
+1 412 267 1529
Philippines
Integra Global Solutions Corp
Ayala Cebu Tower,
Cebu Business park, Cebu 6000
+1 412 267 1529
Europe
Integra Global Solutions UK Ltd
College House
17 King Edwards Road
Ruislip, London, UK, HA4 7AE
+44 (0)20 7993 2949
Canada
Integra Global Solutions Corp
32 Blencathra Hill, Unit 100, Markham
Ontario
+1 412 267 1529
India
Integra Global Solutions Corp
First floor, Kanapathy Towers,
Opp.BSNL exchange, Ganapathy,
Coimbatore – 641 006, India
+91 (0422) 437 9555
Australia
Integra Global Solutions Corp
+61 02 8005 1836