Controlling a business can be an extremely daunting and time-consuming task. However, with the help of Robotic Process Automation (RPA), business owners can reduce the burden of controlling and focus on more important tasks. In this blog post, we will discuss what RPA controlling is and how it can help business owners interested in reducing the burden of control. Stay tuned!
Why use RPA in controlling?
Managing departments can considerably improve their performance and thus services by incorporating more automation into appropriate operations. Automation has the ability to increase productivity in the controlling department.
Despite encouraging results in other financial domains, such as accounting and payables/receivables, automation application in controlling generally lags behind.
Among other things, controlling supports project financials, budgeting cost accounting, and strategic and financial planning. Therefore, it would be expected that RPA controlling is at the cutting edge of technology usage.
The consultants clearly identify not accepting automation selectively as a wasted opportunity. Robotic process automation has been found as a definite value creator in three of the eight major controlling sub-processes. RPA is especially promising for repeated operations that have decision rules in place without human judgments and may be built on a high degree of process and data standardization.
RPA controlling for different controlling tasks
The goal of management reporting is to deliver up-to-date information on financial progress to decision-makers at all levels of the firm and to assist them in corporate management. Both regular standard reports and event-driven analytical reports are prepared and circulated within the firm for this purpose.
To be successful, data from all company units must be collected, validated, compiled, and translated into appropriate reports, including commentary and recommendations.
RPA can automate substantial portions of this process, reducing delivery time and increasing accuracy. The benefit is proportional to the size of the organization and the extent of reporting.
Strategic planning should concentrate on specific aspects of the process, such as data gathering and model updates, as it is not well suited for general automation. Opportunities in the field of operational planning are more numerous.
There are several repetitive tasks for data preparation and verification that have not yet been automated and are thus obvious RPA candidates. RPA controlling robotics can also be used to decrease governance activities in addition to increasing efficiency because automation boosts traceability and uniformity.
The use of intelligent robots to maintain master data management is the third area. Data volumes are exploding in their wake as data is now at the center of decision-making. As a result, this aspect of operations has grown in importance while also becoming more challenging.
It is possible to free up time for controllers by using robotic process automation to carry out activities like data validation, enrichment, and checking. They can then concentrate their attention on tasks that offer more value as a result.
Robotic process automation can be a great help to business owners who are looking for ways to reduce the burden of controlling their businesses. By automating simple and repetitive tasks, you can free up your time and energy so that you can focus on more important things. If you’re interested in learning more about how RPA controlling could benefit your business, please don’t hesitate to contact us. We would be happy to discuss and answer the questions you may have. Thanks for reading!
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