Have you heard of Robotic Process Automation (RPA)? If you haven’t, it’s one of the biggest trends in business automation, and it has the potential to increase your ROI up to 200% by allowing you to focus your resources where they really matter. On your Customer.
RPA, by definition, is software that directly interacts with, and performs, daily business operations. This might sound boring, but it reality, it is one of the most exciting technologies that you should be using in the operational accounting department of your business.
Think for a minute about your accounting firm, your operational accountants in particular. What do they accomplish during their workday? Do they spend endless hours entering figures into spreadsheets, or are they focused on providing insights that will drive your business and positively impact customer service?
I’m guessing that your answer isn’t the one that you wish it were.
RPA technology removes the robotic processes from the human workload. Accounting firms everywhere spend entire days completing repetitive, routine tasks. Not only is this a waste of talented resources, it makes for drearily boring work days. What if there were a way to complete these necessary, mundane tasks and optimize how you are using your workforce?
Robotic process automation is the tool you need to make it happen.
How RPA Is More Than A Cost Reduction Strategy
Automation that performs repetitive tasks is a cost reduction strategy for obvious reasons. When you have the technology that quickly performs actions that would take an entire office staff all day to complete, it of course becomes a way to streamline operational costs.
RPA also frees up your accountants for tasks that are more complex, such as those that involve high level analytics or the benefit of human judgement. At the end of the day, RPA eliminates costly errors and allows you to refocus your energies in ways that are more beneficial to your bottom line.
This is great. But, if this is your only interest in RPA, then you are using it all wrong.
To fully optimize the use of RPA in your office, you need to be looking at how the technology can be used to benefit, and focus on the customer.
Build Communication with RPA
The applications of robotic process automation don’t stop at the ability to crunch numbers. RPA can be used to manage customer communications and interactions.
What system do you currently have in place for managing client schedules, customer complaints and your follow up process? RPA can take care of these tasks, enabling you to be able to spend more workforce resources engaging with your clients, solving problems and building relationships with them.
Robotic process automation helps you better understand the needs of your customers and interact with them at the exact moment that they need you to be there.
Improve Customer Relationships Through Shorter Transaction Times
One of the key features of RPA technology is that it speeds up production time. This is a great asset for your accounting firm because it appeals to the immediate needs of your customer base.
Accounting firms are responsible for processing an incredible amount of information. If one of your clients is stuck, waiting for you to produce invoices or crunch numbers, it hinders their own ability to react to their clients in a timely manner. This causes frustrations on all ends, and eventually it will trickle down to your firm in the form of unsatisfied customers.
We live in a world of instant gratification. Businesses feel the pressure of this instant gratification culture from their own clients. Think of how relieved they would be if their accounting firm used RPA to react fast enough to relieve some of the weight from their shoulders.
You are in the position to help your clients build their reputation and their brand image. RPA will shorten transaction and process times, which will place your clients in the best possible light. If you want your clients to not only value your service, butsee you as a necessity for their own business’s success, RPA is a non-negotiable part of your operating processes.
Discover The True Value of Your Firm’s Talent
Everyone in your firm knows how to crunch numbers, and they have a solid understanding of the ins and outs of every accounting practice. While these are necessities of the industry, they don’t really speak much about the true value of your firm’s talent. To be honest, using educated and experienced talent on such mundane tasks is a waste of your workforce.
Instead, set your staff free and discover how their individual talents in the accounting industry can bring in new clients, exceed the expectations of existing ones and achieve an incredible ROI. Robotic process automation can make all this possible. If you aren’t already using it, you need to be. We’re getting ready to embrace a new year. There is no better time to build a brighter future for your accounting firm.