Skip to content

Robotic accounting and AI: what does the future of finance look like?

The world of finance is changing rapidly. Since automation has taken off, more and more manual tasks are a thing of the past. Robotic accounting has played a huge role in automating repetitive manual tasks in finance departments. But what’s next? With technology developing at lightning speed, what does the future look like?

On terminology: robotic accounting and AI

 

First, let’s take a quick look at the terms ‘robotic accounting’ and ‘AI.’

To keep it simple, robotic accounting is the use of smart software to take repetitive accounting tasks off your hands. Examples include processing invoices, checking bank statements, and drawing up financial reports. Robotic accounting allows you to work faster and more efficiently. It also reduces errors (with manual data entry, human mistakes are easily made!). So, no wonder the average modern finance department can’t do without it!

While robotic accounting focuses on automating repetitive tasks, AI takes things one step further. If you use AI software for your financial processes, your software learns from the data that’s processed. It adapts to new information. AI recognizes patterns and makes forecasts. It can even make decisions. Machine learning, deep learning, and natural language processing (NLP) are good examples of AI. Are your tasks more complex — for example, because they involve speech and facial recognition or advanced data analytics? In these cases, AI is the perfect solution.

From automation to forecasting: what’s next?

 

Now that you have a clear picture of what robotic accounting and AI entail, it’s time to have a look at what’s next. Finance departments have significantly benefited from automating repetitive manual tasks: they work more efficiently and easily, and they’ve freed up time to focus on more challenging activities.

But with AI, you can take the next step. By recognizing patterns in your daily work processes, AI can suggest smarter ways of working. Solid AI software can also predict what you’re likely to need based on your patterns. So, AI goes much further than robotic accounting, which only takes over certain tasks.

While robotic accounting helps you be more efficient, AI makes you work faster and — above all — smarter. By way of example, let’s have a look at a purchase invoice. You used to enter it into your ERP system manually. With the advent of robotic accounting, repetitive data entry work became a thing of the past. Now that AI has been introduced, it can recognize patterns in your invoice processing procedure, as well as in that of others in the user community. Based on this, it makes suggestions for the processing of new invoices. This results in a process that’s even faster and more efficient!

Synergy: how robotic accounting and AI work together

 

Robotic accounting and AI each come with their own unique benefits. But if you combine these technologies, they synergize. This results in something we call ‘intelligent process automation’ (IPA). How to benefit from it?

 

  • Greater efficiency
    Robotic accounting performs repetitive tasks quickly and accurately. AI goes one step further by recognizing patterns and making decisions based on real-time data. That’s how AI optimizes the underlying processes.
  • Higher accuracy
    AI supports robotic accounting by detecting and correcting errors. This ensures even higher accuracy in your processes.
  • Improved decision-making
    If you add AI to your existing robotic accounting processes, you’ll gain better informed operational and strategic insights. This means you can make more data-driven decisions.

 

AI actively contributes to improving your processes based on pattern recognition. That’s why it is the future. But don’t underestimate the power of the combination we’ve described: you’ll only get the most out of AI if you’ve automated repetitive tasks through robotic accounting. You can find the range of possibilities for optimization in the synergy between the two technologies!

Want to know more about our solution?

We'll tell you all about it!

Discover the benefits

  • Uniform processing

  • Support for all common formats

  • Faster, simpler and more accurate

Sfeerfoto Ipad aanwijzen logo's

Want to know more?

Do you want to explore your options? Feel free to contact us. We are happy to discuss what your future in the financial accounting department might look like.

Contact us Or call us (+31) 076 - 560 78 20

VAT in the Digital Age: prepare now for mandatory e-invoicing

ViDA (VAT in the Digital Age) is the European Union’s plan to modernize VAT rules. This new legislation will have a major impact on administrative departments. Sending invoices as we often do now, by pdf or email, will therefore largely disappear. From 2030, electronic invoicing (e-invoicing) will become the standard for international transactions within the EU. Step by step, countries will also introduce this nationally. This means that companies will have to fundamentally change their administration. Not in five years’ time, but now.
Show more

Operational Excellence in Accounts Payable: Why “Good Enough” Isn’t Enough

For many organizations, processing incoming invoices is still a labor-intensive and error-prone process. While other processes have already been largely automated, invoice processing often lags behind. This is precisely where there is room for improvement. Operational excellence is not a luxury, but a necessity.
Show more

Using AI smartly for your invoice processing: 7 practical tips

How do you make your administration run smarter, without immediately changing course? AI invoice processing may sound like something for later or for large companies with big budgets. But it’s precisely with small, targeted applications that you can quickly make a difference. In this article, we share practical tips for getting started with AI in your invoice processing today. No technical deep dives, but concrete tools for organizations looking to take steps toward automation.
Show more

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.