Robotic accounting is the use of software robots, or RPA (Robotic Process Automation), to automate repetitive accounting tasks.
What does it deliver?
By automating processes such as data collection, invoicing and financial reporting, human error is reduced and efficiency is increased. Robotic accounting ensures that accounting data is processed consistently and accurately, allowing accountants to spend more time on strategic activities. In addition, this technology can be easily integrated with existing systems, making the transition to automated processes smooth. A key advantage is cost-effectiveness.
Future of robotic accounting
Robotic accounting is a long-established concept in the financial sector but remains as popular as ever because of its reliability and ability to process large amounts of data quickly. These technological advances may shift the focus of accounting work from executive tasks to analytical and advisory roles. Further integration with artificial intelligence and machine learning are promising. These technologies will not only automate repetitive tasks but also enable complex analytical tasks.
What role does TriFact365 play?
TriFact365 enables organisations to automate operations. For example, upon receipt, documents can be forwarded directly to administration in TriFact365. A ready-made disaggregated journal entry proposal is then presented and can be offered for approval via authorisation workflows. This minimises the number of manual operations.