The benefits of RPA

Featuring Danielle Supkis Cheek, CPA, director of entrepreneurial advisory services at PKF Texas


Video transcript:

So RPA has a lot of benefits, and mainly, it’s about how many headcount can you reduce, because they [RPA bots] are truly digital workers. Because they are in effect sitting at a computer — but digitally, of course — like a human being would, you’re just giving it robotic processes to do that are just routine, regular, not thinking through a lot of things, but tasks. So what you want to look at for what cost savings you’re getting is how many headcount can you reduce with the digital workers for RPA. Usually, somehow comparing it to the benefits, the payroll, payroll taxes, holidays, bonus pay, weekend pay, all that kind of stuff. So you’re starting to talk about measuring it in the cost of FTEs. While the technology is fairly expensive, when you start talking about, “I’m replacing one, two, three people’s annual salaries,” and that’s just covering the first stage. Or even just bringing that up, maybe you’re not looking for terminations or anything like that because that’s scary and you have a really great team, but you can free up your really good workers to do higher-level, higher-order tasks that’s probably what they want to do rather than doing some rote data entry that a machine can do for you. And you’re also looking at reducing your turnover rate from unhappy employees because they’re doing low-level tasks.

Where to find January’s flipbook issue

Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues.

SPONSORED REPORT

Get your clients ready for tax season

Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.