Case Study: RPA for Accounts Reconciliation
Accounts reconciliation is the process of ensuring that two sets of records are in agreement, most often comparing transactions and balances.
Even where businesses are using online accounting tools, time spent on account reconciliation can be dramatically reduced through the use of Robotic Process Automation.
We worked with an accounting firm who had to complete end-of-month accounting manually every few weeks. This took up valuable time and resources that could be better spent on high-value projects.Three departments used five applications to handle ten transactions per month, which took them forty minutes each.
We were able to design and implement a ‘bot that was able to carry out processes including salary accounting, importing and exporting data between DATEV and SAP, and checking that the different bookings were the same in both accounting systems.The company saw a return on investment in just five months and the robot had a zero percent error rate.
We were able to reduce manual effort by twenty-five percent and reduce processing time by sixty-five percent.This improved employee experience by allowing staff to focus on higher-value work, as well as ensured better financial tracking and compliance.