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 June’s flipbook issue

The Journal of Accountancy is now completely digital. 





Better decision-making with data analytics

Data analytics has become a hot topic, but many organizations have not yet managed to understand its potential, let alone put it to work. This report will take a deep-dive on how to best introduce or enhance the use of data in decision-making.