1. Robotic Process Automation (RPA) The best known among the types of process automation, Robotic Process Automation (RPA), performs repetitive tasks so that humans do not need to execute them.

Robotic Process Automation (RPA): Robotic process automation capabilities are at the core of what makes IA bots actually operate, so you can’t invest in a tool for IA if it doesn’t include RPA.

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Compliance is another issue. “Unless you have a solid understanding of what you would like to achieve with process automation, [using] AI all over the place doesn’t necessarily help,” he said.

Process automation requires effective change management, she said. “Change management has proved more challenging than the technical work required to automate the processes.

This framework helps firms and finance departments align strategies, optimize processes, and get ready for deploying IPA.