Search
 
Analysis

Can a Robot Help Improve Working Capital?

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The next big game-changer for working capital management will undoubtedly be smart automation—deployment of emerging robotic process automation (RPA), intelligent data capture, and cognitive automation technologies to optimize execution of transactional, knowledge-based, and decision work.

RPA, in particular, has great potential for automating and streamlining repetitive processes that impact working capital—for example, significantly reducing the time it takes to create an accurate invoice. Currently, just over 20 percent of finance functions have adopted RPA on a limited or mainstream basis. This number is predicted to rise to nearly 80 percent within the next two to three years.

Many companies are combining these capabilities with other transaction-processing automation initiatives, such as self-service portals and automated approval processes, to both strengthen ties with business partners and deliver continuous performance improvement. Realizing these benefits requires careful planning and consideration for how automation best supports the overall process.

See also:

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Recommended Stories

Global Risk of Civil Unrest

T&R Staff |

New analysis shows 37 countries face a “perfect storm” of risk due to Covid-19 and preexisting political and social tensions.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.