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Automation The New Accountant!

robot humanoid using tablet computer concept ai thinking brain x
robot humanoid using tablet computer concept ai thinking brain x

Businesses are increasingly using robotic process automation devices to handle repetitive activities since they can replicate a human activity. Being more agile, processing data more quickly, and improving efficiency are the goals. Automating rule-based procedures is done via robotic process automation. Artificial Intelligence and Machine Learning, in addition to RPA, are applied in various procedures that call for intelligent automation. Automation solutions for robotic processes are being used more and more in accounting. 38% of large companies with more than 500 employees have already implemented RPA in some capacity as a pillar of their digital transformation. The delivery of “intelligent automation” can be enhanced over time by adding machine learning and AI platforms to bots.

Some basic cons of manual bookkeeping that draw attention to AI are that

  • It’s vulnerable to errors.
  • It’s very time-consuming.
  • Requires a lot of labour work.
  • Eliminate the possibility of real time data


RPA is the employment of a software robot, or “bot,” to carry out activities across many computer systems by mimicking the behaviours of a human. To help businesses save time and money, robotic process automation is being employed in departments including finance, procurement, and human resources. The use of bots in its tax practice operations has reduced annual process time savings by several hundred thousand hours.Utilizing RPA, AI, and ML technologies, automated bookkeeping is expediting the bookkeeping process. The automation initiative reduced the administrative burden on contracting officers, removed data errors, sent the adjustment to vendors, and subsequently posted documentation into the contract file repository. Robotic process automation improves productivity and lowers costs with intelligent accounting bots. Virtually everything you do on a secure cloud server can be automated by intelligent automation that can duplicate your actions. They combine numerous systems to manage various types of software, including customer relationship management, Quick books, Excel, Billing, and others.

A few bookkeeping duties that can be automated are :

  • Transactions can be divided into categories with the help of AI.
  • Transactional investigation can be carried out using AI.
  • Adding Value to Purchases.
  • Receipt submission.
  • Payroll management.
  • Invoice management
  • Expense Control

Moreover, there is a lot more than the bot can do…

Now the question is- Will robots replace accountants?For tedious, repetitive procedures that don’t require accountants or CPAs to do, automation is appropriate. Accounting professionals now have more time and flexibility to focus on more exciting projects and offer value. Accountants will therefore need to expand their skill sets and learn how to use new tools. The ability to utilize a ten-key quickly and accurately will no longer be praised, but the capacity to draw out valuable ideas will be.An automated bookkeeping system is not reliant on accountants and can operate to some extent without them. Businesses must automate operations by utilizing developing technologies. To manage bookkeeping effectively, man and machine must cooperate. However, robots can perform repetitive chores, but humans are still needed for crucial aspects of accountancy.For a long time, when punch cards were employed for accounting, there has been accounting automation. Automation will result in leaner accounting departments with fewer entry-level jobs. Although, it’s a good thing given that there is no sign of a solution to the talent gap in accounting. For the variety of jobs that may be performed by digital workers instead of offshore outsourcing, the adoption of RPA and other forms of automation is also causing a drop in that practice. Because it demands tech-savvy individuals, robotics will in some ways result in more jobs being created. It is the digital era, and one must keep up with the changing digital economy. It is time to become tech-savvy & look forward to a better future.




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