Robotics Process Automation (RPA) Bookmark has been added
Robotics Process Automation (RPA)
Deloitte can help clients leverage RPA software to automate tax processes as well as improve the operational efficiency of tax and accounting function. By combining our knowhow in tax management with our practical experience using RPA to support our own internal business processes, Deloitte is ideally positioned to help you get more out of your tax function.
What is RPA?
RPA is an emerging technology that is getting a lot of attention. It refers to software that can be easily programmed to perform routine activities that are currently carried out by human workers, including accounting and tax tasks. For example, RPA software can be programmed to extract and download expense data from an accounting system, aggregate the data in a spreadsheet, then edit and email the results in a report – all automatically. RPA can improve business efficiency significantly by increasing operational speed and accuracy while reducing cost of repetitive tasks currently carried out by humans through the use of several applications. Unlike humans, RPA software can work around the clock and don’t need breaks or holidays!
Transformation of tax departments to provide higher value
Tax staff can spend up to half of their time gathering, aggregating and processing data extracted from business systems for compliance and reporting purposes; whilst they are necessary, these activities add little value to the business and individual and are repetative. These are ideal processes that can be taken over by RPA, allowing the staff to focus their effort on higher value activities such as the data analysis or supporting business strategy development.
Changing the working model for tax
Changing the way employees work is imperative for both businesses that face resource challenges. RPA is particularly suitable for tax departments whose workloads increase substantially during year end and reporting periods and often have to work late nights to meet tight deadlines.
By combining our knowhow in tax management with our practical experience using RPA to support our own internal business processes, Deloitte is ideally positioned to help you get more out of your tax function. With RPA projects we recommend you start with a small project to evaluate the potential benefit and then increase the scope. This could take as little as 8 weeks