Process Automation – The #1 Cost Lever for Finance Shared Services
Finance Shared Services Centers are often supported by multiple technologies that vary in age, level of automation, integration, and usability.
According to the Institute for Robotic Process Automation, RPA "robots" are revolutionizing the way we think about and administer business processes, workflow processes and back-office work. RPA provides increased productivity in transaction processing while it elevates the nature of work by removing people from dull, repetitive tasks. The essence of RPA is process automation.
Finance Shared Services Centers are often supported by multiple technologies that vary in age, level of automation, integration, and usability. These inconsistencies create "automation gaps" that result in manual work, lack of business insight, poor user experience and potentially costly errors.
A recent study by Ernst & Young classifies Process Automation as the top cost lever for Shared Services. While most processes are automated in a mature shared service center, other processes are managed outside of ERP and Procure to Pay (P2P) solutions using spreadsheets, email and other manual methods. According to Ernst & Young, these automation gaps are the primary area for improving productivity.
Learn how a business process automation system, as part of a Shared Services solution can close automation gaps to drive the following benefits:
- Reduced operating costs by automating processes across finance domains including Procure to Pay, Travel & Expense, and Vendor Management.
- Reduced financial waste through tighter control over payments and reduced errors.
- Improved insight to finance operations through dashboards and analytics.
- Improved Service Level compliance through advanced monitoring and analytics.
Register now to attend this webinar, and see firsthand how business process management and finance shared services tools – including smart form builder, graphical process editor, workflow engine and integration to your current finance systems – enable greater end-to-end finance process automation for improved efficiency in your finance shared service center. An added bonus is the improvement you'll experience in your supplier relationships.
