FD Intelligence at AIT 2022
What do we mean by Automation, and does Accountancy need it?
We were proud Gold Sponsors of the AIT Conference 2022.
We make time for accountancy businesses by automating labour-intensive, manual processes, which reduces costs, makes employees happier and improve accuracy.
Don’t worry if you weren’t able to make it to our talk at AIT, you can scroll down to find out more, read some case studies or watch our video which explains just what robotic process automation (RPA) is.
The benefits of RPA are considerable
What are the benefits of RPA? RPA improves productivity and reduces costs and risks. It also increases employee engagement and satisfaction and improves the customer experience. And because of the very substantial cost savings that result from RPA, a positive return on investment is typically achieved in three to nine months.
Some of the accountancy clients we work with:
What can accountants automate?
We have many clients in the accountancy sector, where the use of RPA can provide significant time-savings and improve accuracy of data. Here are just some of the ways RPA improves efficiencies for them:
- Client onboarding, including gathering and tracking Anti-Money Laundering requirements and standardising Letters of Engagement.
- Payroll processing, internally and for clients.
- Employee onboarding & offboarding
- Tax compliance, plus form / data submission to HMRC
- Billing, invoice processing & reconciliations.
- Financial reporting, often building upon internal accounting software.
Meet the Speakers
Tech Innovator, Entrepreneur & FDI Business Advisor
Simple to Set Up
Each robot only needs to be ‘trained’ once, following rules laid out by the people who have previously performed that role.
The development of the robot is very quick compared with most software projects and is typically complete within a couple of months, depending on the complexity of the tasks involved. And once the first robot is built, it becomes much easier to build others as they can re-use some of the same blocks of code.
Each of these blocks covers a specific function – a system login, for example. So the project team quickly builds up a library of code blocks that can be reused in subsequent robots and updated across all the robots at once – as when a system login changes.