The Application of RPA Technology in the Financial and Taxation Domains of SMEs in the Digital Era

<p>Zhou Rui, Li Ya, Cai Yaxuan</p>

doi:10.25236/AJBM.2023.052402

Academic Journal of Business & Management, 2023, 5(24); doi: 10.25236/AJBM.2023.052402.

The Application of RPA Technology in the Financial and Taxation Domains of SMEs in the Digital Era

Author(s)

Zhou Rui, Li Ya, Cai Yaxuan

Corresponding Author:

Zhou Rui

Affiliation(s)

Guangzhou University of Business and Technology, Foshan, Guangdong, China

Download PDF
|
Download: 16
|
View: 280

Abstract

Within the digital context, RPA (Robotic Process Automation) financial robots have emerged as indispensable tools for enterprise transformation. Using Yaji Design (Guangzhou) Ltd. as a case study, this paper devises an application scheme for RPA robots within the financial and taxation sectors of small and medium-sized enterprises. The implementation assisted the company in refining processes related to accounts receivable and payable, expense reimbursements, and tax management. Moreover, the aftermath of these process enhancements was assessed, focusing on the workload intensity of financial personnel and the overall work quality of the finance department. Ultimately, this research outlines supplementary measures centred around RPA-driven business process optimisation, offering a valuable reference for the digital transformation and cost-efficiency improvements of small to medium-sized enterprises.

Keywords

Digital transformation, RPA (Robotic Process Automation), Small and medium-sized enterprises

Cite This Paper

Zhou Rui, Li Ya, Cai Yaxuan. The Application of RPA Technology in the Financial and Taxation Domains of SMEs in the Digital Era. Academic Journal of Business & Management (2023) Vol. 5, Issue 24: 9-15. https://doi.org/10.25236/AJBM.2023.052402.

References

[1] Higgins, M. (2021). The Future of Accounting: How Will Digital Transformation, Impact Accountants? Forbes Technology Council, Council Post. Available online: https://www.forbes. com/sites/ forbestechcouncil/2021/05/19/the-future-of-accounting-how-will-digital-transformation-impact-accountants/?sh=61d0e52b53fb.

[2] PwC’s Global Artificial Intelligence Study: Exploiting the AI Revolution. (2017). What’s the Real Value of AI for Your Business and How Can You Capitalise? Available online: https://www.pwc. com/gx/ en/i ssues/data-and-analytics/publications/artificialintelligence-study.html.

[3] Madakam, S., Holmukhe, R. M., & Jaiswal, D. K. (2019). The future digital work force: robotic process automation (RPA). JISTEM-Journal of Information Systems and Technology Management, 16.

[4] Mostaquim, M. E. (2022). Study on open source tool for robotic process automation (RPA) with respect to commercial software for small and medium sized enterprises (SMEs) in logistics field (Doctoral dissertation, Technische Hochschule Ingolstadt).

[5] Hsiung, H. H., & Wang, J. L. (2022). Research on the Introduction of a Robotic Process Automation (RPA) System in Small Accounting Firms in Taiwan. Economies, 10(8), 200.

[6] Januszewski, A., Kujawski, J., & Buchalska-Sugajska, N. (2021). Benefits of and obstacles to RPA implementation in accounting firms. Procedia Computer Science, 192, 4672-4680.