5-Step Guide to Implementing RPA in Accounts Payable

RPA technology can easily be implemented over existing systems and integrated with available data, minimizing the disruption of the existing IT infrastructure of any organization. 

If you make sure that the processes are properly analyzed, RPA implementation in AP can lead to reduced manual intervention, increased accuracy of data in core accounting systems, automatic validation and sending of invoices to customers, and minimization of human errors.

However, for successful RPA implementation in AP, organizations need to standardize processes and follow the following steps- 

1. Scope the accounting project

Remember that not all finance and accounting operations work streams are created equal for RPA implementation. The first step to any accounting RPA project is identifying a manageable scope of processes that would benefit from automation. Accounts payable, with its repetitive work, is a perfect fit for robotic accounting as compared to a process like budgeting, which requires a lot of human estimation.

The best way to proceed is by starting small. Depending upon the response of robotics on finance and accounting in your respective organization, you can then plan on scaling up the project.

2. Validate the opportunities identified

Most of the financial processes, including accounts payable, typically comprise two parts – transaction and decision. RPA automation can be most beneficial in the transactional part, which includes a lot of time-consuming, mundane, and repetitive tasks.

3. Work out baseline cost of operations

To determine the financial benefits of implementing RPA in accounts payable, it is important to do an initial baselining of operating costs for accounting processes. Typically, the cost benefits of RPA implementation start showing within a year, but a lack of proper baseline cost of operation makes it difficult to convince the teams and shareholders to go ahead with implementation.

4. Standardize the workflow and procedures

To be able to effectively implement RPA in accounts payable, it is critical to analyze and standardize all the manual processes as robotic automation would not be efficient without standardization. 

5. Implement the project

The implementation phase is most important, where a suitable RPA tool can be used and tested out to understand how it works for AP automation. It is best for organizations to hire a qualified and experienced RPA vendor rather than training their staff/employees to set up the process and work with such software.

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