Embracing Digital Transformation in Accounting and Finance

RSM Singapore collaborated with CPA Australia, Singapore Management University (“SMU”) and fellow industry players on the publication Embracing Digital Transformation in Accounting and Finance.

This publication highlights the importance of digital transformation in the finance and accounting industry in light of COVID-19 that has reshaped the way we work. Robotic Process Automation (“RPA”) is a key enabler of digital transformation and RSM Singapore was invited to contribute a chapter on this topic.

Adrian Tan, Technology, Media and Telecommunications ("TMT") Industry Lead, and Ow Ghim Siong, Deputy Head of Data Science, drew on their knowledge and experiences in deploying RPAs for their clients, and discussed the why, what and how that surround this emerging technology.

The contributors first introduced the key concepts surrounding RPA, and further discussed how RPA can be augmented with artificial intelligence to perform tasks that require some form of cognitive and decision making abilities. Through case studies, the contributors raised potential pain points of the finance function, and proposed RPA solutions to alleviate these pain points. They also offered advice and recommendations for companies who are looking to get started in this area.  

In conclusion, Adrian Tan commented that “in the aftermath of the COVID-19 pandemic, the business risks of not adopting such technologies could be potentially high, as organisations start to lag behind their competitors in terms of costs, efficiency, and speed.”

Read the full publication: https://www.cpaaustralia.com.au/tools-and-resources/business-management/business-management-research/digital-transformation-in-accounting-and-finance

To find out how our team can assist you in data science or technology matters, please consult our specialists:

Adrian Tan
Partner & Industry Lead, Technology, Media & Telecommunications
T +65 6594 7876
[email protected]

Ow Ghim Siong
Deputy Head, Data Science
T +65 6594 7504
[email protected]