Robotic Process Automation for ERP Journal Entries

Learn how Robotic Process Automation (RPA) can help automate journal entries for finance industry. Work with best RPA Consultants.

Robotic Process Automation is already changing the way Oil and Gas companies operate. Around the world, businesses are focusing on bringing operational efficiency, and RPA is taking the center stage of software-based automation for oil and gas companies.

In this article, let us help you with some use cases for taking advantage of Robotic Process Automation (RPA) in handling journal entries to improve consistency, reliability and efficiency in finance industry.

What is Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is a software-based automation system that can perform repetitive tasks that humans perform everyday. The software works with multiple applications to perform tasks faster, better and in a more efficient way.

To sum things up, here’s what a RPA software can do for you:

  • Perform repetitive, structured transactions processes
  • Scale up operations and processes rapidly in your company
  • Interact with and update multiple applications in a transactional manner to keep everything in sync
  • Validate data in places that are complex for people to understand
  • Perform calculations faster than humans

How can RPA help in Journal Entries?

RPA has the potential to impact a lot of industries for good. Especially the ones where transactions and being handled by the humans. RPA plays a major role in areas like updating journal entries, validate the data that goes into these entries and such.

When it comes to handling journal entries with RPA, the software can remove the weight off from the users when they:

  • Update data manually into their Enterprise Resource Planning (ERP) systems; use RPA to automate ERP data entry;
  • Gather data from multiple applications and gather them into one place at the end of the day to keep everything organized;
  • Process a lot of data where the data is prone to multiple human errors that could cause a ripple effect;

RPA based Enterprise Resource Planning (ERP) is also picking up in the industry with tools like HelpSystems Automate, Automation Anywhere and BluePrism. Where Skcript helps you is to build a complete end-to-end roadmap of this entire RPA implementation with detailed process workflows that will help your business run faster.

Why deploy robots when there are humans?

There are a lot of reasons why companies prefer bots to do the repetitive tasks than humans. For one, humans are species with intellect, which allows us to think through complex situations and act upon it. Robots does not carry emotions and are extremely faster and good at performing pre-defined set of tasks.

Here are a few more reasons why companies use RPA to help humans perform better:

  • Robots operate 24x7
  • Robots are super efficient in performing tasks
  • The error rates are low when compared to humans
  • Robots can use data directly from multiple applications and process data in parallel
  • Accuracy is off the charts with RPA robots
  • Consistency; you can expect a task to be complete at a consistent time and process without having any second thoughts;
  • Reliability; no sick leaves, super high efficiency since bots work 24x7, every single day;

What is the Return on Investment / Business Value for RPA implementation

RPA is a proven technology. Just like how computers replaced calculators for better business efficiency, RPA is being used to build businesses that are faster and better than their competitors.

Here are some quick potential business value or Robotic Process Automation in Journal Entry segment:

  • Over 50 percent annual operational productivity gains across the company;
  • Implement end-to-end automation; from Record to Reporting (R2R);
  • Boost in Productivity; RPA robots are meant to perform tasks faster than humans; this allows us to have 99.99% available throughout the year, and the bots work 24/7/365 with fewer errors and regulatory violations;
  • Audit-able logs; bots provide us with detailed logs that helps us audit everything that is happening with the RPA process;
  • Reliable and resilient process; RPA bots are configured to interact with systems that the users would have difficulty accessing in some cases;

How can Skcript help you with RPA

Introducing RPA processes into your business could be a huge challenge. Working with an experienced company is essential to make sure the transition is smooth.

Skcript’s RPA Advisory Services can support you with the challenges, make the transition easy and deliver quality the Skcript way for your organization.

Our experienced RPA engineers and business professionals bring in a unique mix of expertise and an incredible depth of knowledge in RPA to help you implement a RPA process in your business.

Here are some of the areas where Skcript can help automate Enterprise Resource Planning (ERP) system data entry using Robotic Process Automation (RPA):

  • Robotize the entire data entry and validation process;
  • Bring down the processing time from hours to minutes;
  • Build RPA bots that can lot entries into ERP systems and scale as the company grows;
  • Provide detailed report of what is happening with the bots and alert if something goes wrong;
  • Map information across different platforms and provide a single platform to unify data entry;
  • RPA for moving data from on-premise legacy systems to cloud based ERP solutions like:
    • RPA for SAP ERP;
    • RPA for Microsoft Dynamics & Dynamics 365;
    • RPA for ERPNext;
    • RPA for Fedena;

Our job is not to make sure we implement RPA in your business, but also to make sure your people are ready before we go live in your organization.

What is the next step?

Our RPA analysts can help you run RPA workshops in your company to see how best we can implement RPA in your company; Reach out to us at business@skcript.com or fill out the form for us to contact us;

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