Revolutionizing Finance: Insights on the Impact of Automation

Bostan Andreea-Izabela () and Dragomirescu Oana-Alexandra ()
Additional contact information
Bostan Andreea-Izabela: Bucharest University of Economic Studies, Bucharest, Romania
Dragomirescu Oana-Alexandra: Bucharest University of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2024, vol. 18, issue 1, 3374-3386

Abstract: This article delves into the transformative impact of integrating SAP and Robotic Process Automation (RPA) in the realm of Finance. As organizations strive for greater efficiency, accuracy, and agility in their financial operations, solutions such as SAP and RPA emerge as a powerful solution. The article provides an in-depth analysis of how these technologies complement each other, offering a set of different perspectives provided by 13 Subject Matter Experts during an interview. The study begins by outlining the importance of using Artificial Intelligence in Finance, with a focus on the demonstrated benefits and potential areas that are suitable for this technology. It is also highlighted what Financial areas could be considered candidates for automation of processes, with a focus on five main topics. Subsequently, the article investigates the role of Robotic Process Automation and the key features of SAP, in automating repetitive, rule-based tasks within financial processes. Furthermore, through real-world case studies and examples provided by people with work experience in this field, the article provides insights into the practical applications of SAP and RPA, witnessing the improvements in operational efficiency, data accuracy, and compliance. The discussion explores the evolving landscape of finance in the face of digital transformation, emphasizing the following topics: understanding the need of automation, prerequisites needed in Financial processes, tools required, data security, and future prospects.

Keywords: Automation; Finance; Robotic Process Automation; SAP; Business Processes (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/picbe-2024-0275 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:18:y:2024:i:1:p:3374-3386:n:1048

DOI: 10.2478/picbe-2024-0275

Access Statistics for this article

Proceedings of the International Conference on Business Excellence is currently edited by Alina Mihaela Dima

More articles in Proceedings of the International Conference on Business Excellence from Sciendo
Bibliographic data for series maintained by Peter Golla ().