Excellent article in Accounting Today about modern robotic process automation (RPA) transforming the old world of debits and credits.
Have a look: “RPA is all the hype right now. It’s quickly making waves in the banking, health care, and insurance industries, among others. According to Gartner Inc., the RPA industry grew nearly 63 percent in 2018, making it the fastest-growing segment of the global enterprise software market. According to a report by McKinsey, automation technologies like RPA are expected to have a potential economic impact of $6.7 trillion by 2025. This impact is impressive when you realize the term “RPA” dates back to 2000.
Basically, RPA is here, it is here to stay, and it is quickly changing many industries. Tasks that once took a human auditor days can be performed in hours. Tasks that took hours can now be performed in minutes. Process accuracy is increased dramatically. Humans no longer perform repetitive tasks. In an RPA process, humans have a supervisory role and are enabled to work on more valuable work.”
At Inveniam, we use RPA to facilitate price discovery of illiquid assets. Data rich, low frequency trading assets need data integrity and reliable marks. Tracking and pricing your assets in a seamless manner is a game changer. #VerifiedByInveniam