Finance Robotics: Automation in Finance

Drive greater efficiency, compliance and productivity with finance RPA

How do I increase ROI on finance robotics?

Finance is under pressure to increase the ROI on finance robotics (sometimes called robotic process automation or RPA, smart automation, or intelligent automation). At the same time finance robotics must be scaled out of shared services and into other finance subfunctions such as procurement and tax. 

One RPA bot can displace up to 30% of the work of a human full time employee (FTE).

Defining internal control and governance for finance robotics programs is essential: Clearly delineate responsibilities between bot development, bot operations and bot outputs to yield full utilization of finance robotics and cost savings.

Joey Mixon

Director, Advisory, Gartner

Finance robotics automates finance processes

Finance robotics is evolving from simple individual task automation to full process automation that could improve the accuracy of financial analysis and forecasts. Automating finance processes requires combining finance robotics with other intelligent automation technologies. 

RPA desired end state: A robot works for at least 20 hours per day, 7 days per week and 52 weeks per year.

Insights you can use

Understand the right places to deploy finance robotics, proven methods for tracking and assessing its benefits, and techniques for handling the integration of finance robotics with team design and structure.

Phasing in RPA in finance: 1. Starting out: Impacts junior staff the most. 2. Operational: Medium team impact; new skills needed. 3. Pan-finance adoption: Widespread displacement

How Your Peers are Implementing RPA in Finance

Around 80% of finance leaders have implemented or are planning to implement RPA. Still, adoption of new digital technologies and cloud remains a challenging feat.

Learn what your peers have to say about reducing cost, minimizing effort, and improving speed and accuracy with RPA.

Special Report: The New Digital Workforce

Download this CFO Magazine special report featuring Gartner insights to learn about:

  • How a top financial services company successfully piloted finance robotics
  • The average costs of finance robotics
  • Use cases for finance robotics
  • The future state of finance robotics
Robotic process automation technology usually costs one-third the amount of an offshore employee and one-fifth of an onshore employee.
More than 13,000 public companies produce upwards of 30,000 hours of earnings calls per year.

Finance Robotics: Trendspotting Bots

Is artificial intelligence your investors’ newest advisor? Gartner research reveals that 60% of earnings calls are spent on Q&A, which finance robotics can scrutinize to detect lies and hidden sentiment, and to make conclusions that will affect analysts’ investment decisions.”

More than 13000 public companies produce more than 30000 hours of earnings calls a year

Webinar: “Why Your Organization Needs RPA”

The use of robotic process automation (RPA) is skyrocketing in many parts of organizations, driving greater efficiencies in areas including operations, finance and audit. Watch our cross-functional webinar to learn:

  • Why robotic process automation is important for you
  • How RPA benefits finance
  • How RPA improves audit
89% of general accounting operations and 72% of financial reporting are highly automatable with finance RPA.

Questions about becoming a Gartner client?

Gartner CFO & Finance Executive Conference

The premier destination for CFOs and their leadership teams

Join hundreds of senior finance executives to hear key insights and learn actionable strategies for building the finance function of the future. Finance leaders who attend will:

  • Absorb insights based on proven practices
  • Capture crowd-sourced implementation ideas
  • Leave with prioritized objectives and practical solutions
  • Build lasting connections with finance peers
After attending [the Finance Conference], we were able to locate and mitigate a $2 million risk [and] avoided a potential audit.
Defense Firm
Case Study

How does Gartner support finance robotics?

Gartner helps an aerospace & defense company implement finance robotics, achieving cost efficiency and business buy-in.

Gartner Robotics in Finance Experts

Gartner’s Finance experts include more than 35 people worldwide. Meet a few of our leaders. 

John Van Decker
VP, Analyst

Greg Leiter
Senior Director, Analyst

Richard Ries
VP

Joey Mixon
Director

Gartner’s finance experts are trusted, objective advisors for 1,750+ finance organizations

Gartner for Finance provides insights, advice and tools to help finance leaders make the right decisions to drive business results.