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Robotic process automation in accounting systems
Author(s) -
Harrast Steven A.
Publication year - 2020
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.22457
Subject(s) - automation , process (computing) , robot , computer science , work (physics) , investment (military) , software , accounting information system , corporate governance , computer security , return on investment , accounting , process management , business , engineering , finance , operating system , artificial intelligence , economics , production (economics) , mechanical engineering , politics , law , political science , macroeconomics
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.