Management Accounting and Robotic Process Automation
Laurikkala, Suvi (2023)
Laurikkala, Suvi
2023
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023060117005
https://urn.fi/URN:NBN:fi:amk-2023060117005
Tiivistelmä
The research of this thesis focuses on the duties and processes of a management accountant in decision making, budgeting, financial statement analysis and what is required for such processes to take place and company goals to be met. In addition, there is research discovering if Robotic Process Automation (RPA) is used in management accounting duties and if there will be significant changes to the role in the future.
The decision-making process is formed up of planning, directing and controlling where feedback is given along the way to help keep the budgets realistic, along with the best interest of the business in mind. Automation is used up to a certain point in management accountant duties in the form of financial analysis, budget and performance comparison and forecasting purposes, whereas the decision making is more of a human skill that computers cannot mimic where emotional intelligence is required for the best possible outcome.
The chosen research method was qualitative, conducted in the form of literature and desktop research, and qualitative interviews. The interviews were collecting information regarding management accountant duties and also if RPA is used in the role, and if so, how. Upon the information gathered, analysis and conclusions were drawn up along with recommendations.
The results of this research state how RPA is used minimally in management accountant duties and how professionals will always be required for the tasks, despite advancement in technology, as seen up until this day. However, software’s already in use such as cloud-based accounting software and excel will always be a basic tool assisting with daily tasks of management accountants. Technological skills will be the requirement and increasing furthermore in the future when seeking employment, and to remain competitive within the industry.
The decision-making process is formed up of planning, directing and controlling where feedback is given along the way to help keep the budgets realistic, along with the best interest of the business in mind. Automation is used up to a certain point in management accountant duties in the form of financial analysis, budget and performance comparison and forecasting purposes, whereas the decision making is more of a human skill that computers cannot mimic where emotional intelligence is required for the best possible outcome.
The chosen research method was qualitative, conducted in the form of literature and desktop research, and qualitative interviews. The interviews were collecting information regarding management accountant duties and also if RPA is used in the role, and if so, how. Upon the information gathered, analysis and conclusions were drawn up along with recommendations.
The results of this research state how RPA is used minimally in management accountant duties and how professionals will always be required for the tasks, despite advancement in technology, as seen up until this day. However, software’s already in use such as cloud-based accounting software and excel will always be a basic tool assisting with daily tasks of management accountants. Technological skills will be the requirement and increasing furthermore in the future when seeking employment, and to remain competitive within the industry.