There can be a number of source where data is compiled in a company. Users specifically Finance department users undertake analysis by pooling data from various to report company's position. It is a known fact that the reporting done by the ERPs or standalone systems cover only basic MIS reporting. For advanced management reporting the departments depend on tools like Microsoft Excel to import data and then apply relevant formulas to get to the format required by management to undertake detailed analysis.
Pooling data from these standalone system is dependant on the IT department who extract the data required by department. This not only lead to delays but also in accuracies as after pooling data maybe changed by a user.
Since it is important for the correct data to reach the correct audience for timely decision making it is imperative that the same process is followed to get the desired results.
Robotic Process Automation (RPA) allows for creations of software robots (BOTs) that are programmed to undertake high volume, repetitive, rule based tasks in a auditable, timely and accurate way. It can undertake such tasks 24 hours a day 7 days a week 30 days a month and 365 days a years without taking a break and without taking making errors.
RPA Bots coupled with AI can take on any work that traditionally a human staff does without requiring additional overheads such as a computer, sitting area, air conditioning, salary and many more.
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