Financial Process Automation (FPA)
It’s lunchtime. And while you have a mountain of invoices to process, you’re grabbing a quick meal to go before heading back to the office. Standing in line to place your order, you look up and see the menu above. Sandwiches, salads…and then you notice something that makes you look again. Invoice Automation. That’s odd, you think. Why would invoice automation be on a to-go menu?
According to Shared Services & Outsourcing network (SSON), the industry’s biggest challenge is the implementation of automation tools. The 2018 SSON keynote speakers will be sharing their insights on intelligent process automation, digital disruption and customer experience.
Anyone who has navigated the loan application process, particularly for a major purchase such as a home, is well aware of the notorious mountain of paperwork required. But as technology and new regulations levy new expectations on lenders—not to mention the demands of speed and convenience by customers—paper-laden, traditional lending processes are becoming increasingly nonviable as a go-forward strategy.
In the last blog, I presented an overview of the five ways information capture will revolutionize your document and data processing. Let’s take a closer look at the first way now: automation through centralized, high-volume capture, also commonly referred to as batch capture.
In a recent video interview, Forrester’s Craig Le Clair, VP and Principal Analyst for Robotic Process Automation (RPA), noted that the majority of investment he sees going into robotic process automation is in the area of shared operations like finance and accounting.