Robotic Process Automation is in its nascent stages, where it is still being explored for various business purposes and the functions for which it can be utilized. With the same effect on various processes as that of technology, RPA tends to decrease the monotonous, repetitive work, time, and cost and increase the efficiency by which an organization can work. This study aims to explore the effect of RPA in accounting. The study uses a technology adoption model to determine the factors that play an important role in adopting of robotic process automation in accounting fielding by professional accountants. The study also introduced one new dimension for the adoption of TAM, i.e., the increase in efficiency. The analysis of data was done through PLS-SEM (structural equation modelling). The results show that all the hypotheses were supported. The study could be helpful for managers, organizations, and individuals inthe adoption of technologies in processes like accounting.
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Along the lines of new and latest technologies, robotic process automation (RPA) is also considered to be the technology that can generate returns for individuals and organizations (Hallikainen et al., 2018). RPA is a solution in the form of software which has the ability to automate different functions and processes of a business which are rule-based or pre-defined (Kregel et al., 2021; Lacity et al., 2015; Kokina & Blanchette, 2019).This software sometimes referred to as 'Bots', can perform tasks in the same way as a human, with the help of the data in a computer system (Januszewski et al., 2021).
Robotic Process Automation (RPA) stands as a transformative force in the realm of business operations, reshaping how tasks are executed across various industries. At its core, RPA involves the utilization of software robots or 'bots' to automate repetitive, rule-based tasks, freeing human resources to focus on more complex, value-added activities(Siderska 2020). This technology, characterized by its ability to mimic human actions within digital systems, has revolutionized workflow efficiency, accuracy, and scalability(Mosteanu and Faccia 2020).
By emulating human interactions with digital systems, RPA executes routine tasks, such as data entry, processing transactions, generating reports, and interfacing between disparate systems. This accelerates processes and minimizes errors, significantly enhancing operational accuracy and consistency(Chang and Jeong 2012).
This software can easily automate and streamline unstructured or structured, manual, voluminous, monotonous, and repetitive tasks (Choi et al., 2021; Hartley & Sawaya,2019). Nowadays, RPA can be used for a variety of tasks ranging from data entry into the systems, performing calculations, extraction and collection of data, filling of forms, responding to emails, accessing attachments, managing applications and extracting data from almost all the platforms available (Hegde et al., 2018).
The dependency of organizations on RPA has increased over time at a rapid pace and is expected to grow at more than 20 per cent on ayear-to-year basis.Organizations are adoptingRPA with the motivation to reduce costs and improveefficiency, productivity, and service quality (Choi etal., 2021; Denagama Vitharanage et al., 2020;Harmoko et al., 2021). This adoption may result in almost double the productivity and quality and a half reduction in cost(Harmoko et al., 2021; Wojciechowska-Filipek, 2019).