Robotic process automation in accounting systems

Robotic process automation is rapidly transforming the world of work for accounting and other information professionals. Data collection and entry that used to occupy much of the workday is being automated by programmable software robots or bots. Automation using bots should begin with processes that are stable, repetitive, and consume sufficient resources to generate a solid return on investment. As bots are implemented, a number of governance, risk, and compliance issues need to be considered including appropriate controls on bot access to sensitive records and transactions. The bot development process also requires controls so that only tested and authorized bots are deployed. For many companies, RPA is exactly what they have been looking for to drive higher efficiency in information processing.