T-Impact work with ambitious accountancy firms seeking to drive change and achieve rapid ROI through digital transformation. Our robotics & AI subscription model enable firms to test the water with minimal cost and build a solid business case before seeking further investment. Speak with one of our experts to learn how accountancy firms throughout the UK are using robotics and AI to improve customer experience, reduce costs and increase profitability.
What can robotics do for accountancy firms?
Rather than resisting change, forward-thinking accountancy firms are securing their business futures and enhancing their business potential through robotic process automation.
Robotics in accountancy can be used for:
• 24/7 generation of sales quotes and account transactions
• Data validation and order confirmation emails
• Customer credit level monitoring
• Responding to vendor invoices, inquiries or payments
• Detecting abnormalities within T and E reports and acting upon this
The Robotics involved in Accountancy Automation
Mention AI or Robotics, and most people jump straight to sci-fi androids, or manufacturing bots on an assembly line. The term Robotic Process Automation (RPA) refers to specific software that can be “trained” to perform a variety of manual functions including opening emails, saving attachments and entering or extracting data.
RPA mimics human activity on your console and can perform many functions including accessing and creating new data within your existing I.T. infrastructure. When making complex decisions, it reaches out to your Artificial Intelligence (AI) platforms such as IBM Watson, Microsoft AI or Google Deepmind, when available. By passing the data, the robot can receive guidance based on results and work out the next steps.
RPA in accountancy can free up key staff members from administrative duties, meaning they can focus on developing new revenue streams and adding value. However, other benefits include:
Robots can work 24/7 and operate faster than any human staff. With instant scalability and virtual resource allocation using our orchestrator robot, you can eliminate backlogs and avoid bottlenecks.
Rather than constantly checking data-entry, staff can focus on business development opportunities that add value.
Performance Measurement and Benchmarking
The robot keeps a full record of work completed, so you can pinpoint where and how robotics is saving you money.
Thanks to subscription model RPA, accountancy firms can expand capacity without increasing costs and ease the strain on back-end resources. Your staff can focus on empowering value-adding tasks instead.
Peace of Mind
Your robot can automatically sync with legislative portals to keep up to date with any changes.
In accounting, what processes should I automate?
In general terms, robotics is best utilised for tasks that are time-critical, data sensitive and require a number of repetitive actions. For accountancy, robotics can also be deployed to tackle large levels of big data.
Do I have to purchase an orchestrator robot to manage my virtual workforce?
No, your staff can manage the virtual workforce using their console, phone or laptop. However, an orchestrator robot means these processes can be controlled and managed twenty-four-seven, as opposed to just when staff re available.