The technological development and maturing of new agile digital tools have created an increased pressure on the Finance Function to automate processes. This is a journey that has already started for many companies and organisations, and it will only become even more pronounced in the coming years.
For many years the approach to achieve automation in the Finance Function was about implementing a standardized ERP platform and then harvest the automation benefits. This is still true, but this approach only realizes part of the full potential of automation.
At KPMG, it is our experience that more than 50% of all activities in the Finance Function is carried out outside the ERP system (emails, excel sheets, third-party systems etc.). So, a more holistic end-to-end approach to automation is needed to realize the full automation potential.
Type of financial tasks and approach to automation
When automating processes, we combine different automation solutions and tools to achieve the highest possible automation rate.
- ERP Automation (SAP, Microsoft etc.). Typically, we uncover the automation potential using process mining tools, after which the majority of automation takes place via process standardization and ERP automation.
- Intelligent automation. For activities that are carried out on top of or outside the ERP system, we typically use agile tools such as Robotic Process Automation (RPA), PowerApps, Machine Learning, PowerBI etc.
- Best of breed automation. When ERP platforms or Intelligent automation are not sufficient to automate processes, or if specialized digital solutions exist (invoice scanning, credit risk, etc.), we use these for automation.
Our Finance Automation services include:
- Automation assessment: Assessment of automation potential for processes and tasks and preparation of solution design
- Automation roadmap: Evaluation and prioritization of automation potential and summary in a finance automation roadmap and action plan
- Implementation of automation: Detailed solution design, development and implementation of automations and support after go-live
Contact us and read more
Martin Andersen
Partner, CFO Advisory
KPMG in Denmark
Morten Rasmussen
Senior Manager, CFO Advisory
KPMG in Denmark
Jesper Vennevold
Senior Manager, CFO Advisory
KPMG in Denmark
