Identifying and implementing robotic process automation to expand audit and compliance efficiency
Many companies are discovering their highly talented employees are working on mundane and time-consuming tasks related to audit and compliance. While these activities are mandatory for audit and compliance requirements, it’s taking time away from more valuable critical thinking, which advances the company and leads to the achievement of business objectives. Not only is this a waste of talent, but it also reduces overall productivity and morale.
RSM’s risk consultants can help you identify prime areas within your organization where robots can increase efficiency and accuracy. Robotic process automation (RPA) employs software robots—known as bots—to execute structured, repeatable and logic-based tasks by mimicking the action taken by existing human staff. RSM has developed specific methodology so we can help you identify detailed processes that can benefit from improved speed and accuracy.
As internal control and compliance experienced professionals, your RSM team understands how to create bots to lower compliance costs and increase efficiencies as it relates to the three lines of defence. While implementing bots can help significantly streamline your organization’s risk management and monitoring programs, they can also introduce risk, regardless of the process for which they are used. Which is why we’ve also developed a customized approach and framework to ensure your bots are under proper control and governance.