The Role of Robotic Process Automation (RPA) in Finance Automation

Drive greater efficiency, compliance and productivity with finance RPA

How Your Peers are Implementing Robotic Process Automation (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.

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See finance leader perspectives on the emerging field of robotics process automation.

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    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

    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).

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

    RPA 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. 

    Finance RPA 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.

    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

    Accelerate Digital Transformation

    CFOs play a pivotal role in steering their business to digitally-enabled growth, with 97% planning to accelerate digital technologies in 2021.

    Watch this short video to discover 10 opportunities for CFOs to accelerate digital transformation across both the wider business and the Finance function and learn how to position your organization for success.

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    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 Finance RPA Experts

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

    Alejandra Lozada
    Sr Director Analyst

    Sanjay Champaneri
    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.