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Per the IRS, it takes 13 hours to complete a typical 1040. This jumps to 23 hours for the avg 1120 business return. For an individual preparer, this is lost time. For a tax accounting firm, this equates to lost profits. Utilizing RPA, tax firms are eliminating laborious (and error-prone) data entry, all while improving client … Continue Reading

According to a payment study by Atradius, on average, companies write off 1.5% of their AR as bad debt (that’s $750K for a $50M company!), and 93% of businesses experience late payments.  RPA-enabled automated collections can improve these impactful statistics. The collections process is repetitive, rule-based, and time-sensitive. This makes it a prime candidate for … Continue Reading

Per an E&Y study, 59% of a financial department’s resources are spent managing transaction-intensive processes.  And around 95% of this effort is wasted on transactions that already match.  RPA can reduce reconciliation effort by 90%+ by allowing your accounting team to focus only on the transactions that don’t match. Deploying Robotic Process Automation (RPA) to … Continue Reading

Are you an OTC leader or laggard?  According to the American Productivity and Quality Center, companies fully leveraging technology and automation will spend $5.11 to process a sales order vs. $40.87 each order for manual sales order processing. On the back-end, per the APQC, the automated company will spend $6 to invoice the customer, and … Continue Reading

Payroll just got more complicated.  Per Payscale’s 2021 State of Remote Work report, 47% of organizations (vs. 18% pre-CV19) say that >25% of their team will work remotely.  Multi-state remote work burdens Payroll data management, but RPA is here to help. While some companies utilize an enterprise ERP system with an integrated Payroll module, many … Continue Reading

In AP, efficiency is king, and it is here RPA rules. Per the Institute of Finance, an AP deptartment using automation can process 22,500 invoices per FTE/year vs. a manual AP department which maxes out at 2,200 invoices per FTE/year. Time also equates to money. According to Levvel Research, manual processing of an invoice can … Continue Reading