Account payable process in finance & banking

Accounts Payable automation with software robot

  • Accounts Payable involves processes like extracting vendor information, validating the data, and processing the payment. As this is a very rule-based repetitive process, it is a perfect use case to be handled by the RPA process.
  • With the help of Optical Character Recognition (OCR), a bot can scan the vendor information from a digital copy of the physical form and enter these details in a database that a bot can access. A robot (RPA) can then validate information as per the rules assigned to it initially and proceed with the payment process. Any error encountered within the process can be immediately notified to the concerned person for immediate action.

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