What can Accounting / CPA Firms Expected from Business Process Automation?

Significantly, business process automation may help enhance the efficiency and accuracy of accounting firms. Cooper et al. (2019) mention that the implementation of RPA has provided better processing time by 70-80 % and saved over one million human work hours within a single year. This kind of automation is particularly useful for tax, advisory, and assurance services because it will help streamline repetitive tasks without job cuts; on the contrary, it creates conditions for higher job satisfaction and career mobility. Waszkowski et al. (2018) cite that BPMS may make a difference in facilitating accounting processes, including but not limited to sales and cost accounting procedures that will be more manageable and automatable. Oyeniyi et al. (2024) suggest that RPA helps carry out accounting tasks efficiently and effectively, thereby displaying economic prudence in the adoption of automation by organizations. Blahušiaková (2023) is of the opinion that automation improves the effectiveness of business processes, reducing errors; there might, however, be an initial cost barrier to entry for smaller firms wishing to join the bandwagon. Least but not last, Abdrakhmanova et al. (2024) highlight the issue of choosing the proper software and training personnel to use it to make the maximum benefits from automation and balance technology use with a human ingredient for its successful implementation. It could be seen from the studies reviewed that business process automation transforms accounting practice into one that brings substantial efficiency gains and operational accuracy.

References

Corporate efficiency improvement with business process automation (Waszkowski et al., 2018)

Robotic process automation in routine accounting tasks: A review and efficiency analysis (Oyeniyi et al., 2024)

Business process automation: New challenges to increasing the efficiency and competitiveness of companies (Blahušiaková, 2023)

Automation of accounting (Abdrakhmanova et al., 2024)

Robotic Process Automation in Public Accounting (Cooper et al., 2019)