By Gerald Trites, FCPA, FCA
Inline XBRL is transforming the way companies file with their regulatory authorities. And, once most of those authorities are on board, it should make life easier for corporate filers everywhere.
Robotic Process Automation is being adopted extensively by companies and available from a variety of vendors, including the big ones like Microsoft, SAP and IBM. It’s used to automate repetitive processes primarily, but certainly not exclusively, in the finance and accounting areas.
RPA has nothing to do with robots, but rather is software that can be used for processes embedded in various applications and platforms, even if they were never intended to interface with each other. Which means it can automate processes without the massive costs involved in changing major applications, like ERP systems.
It is proving useful to companies coping with Covid19, with employees moving to work offsite and back, working remotely and in a central office. When processes are automated they can be carried out more reliably. So RPA is popular for transactional applications, to ensure there is not a lag in production. Several good articles are available on RPA, including the one at this link and the others referenced in that article.
By Marin Ivesic
CPS is a broad, umbrella term for technologies that connect our physical world with the cyber world. It describes situations in which we find a fundamental intersection of computation, communications and physical processes without suggesting any particular implementation or application.
Chartered Professional Accountants of Canada (CPA Canada), one of the largest national accounting organizations in the world, has chosen to become a founding partner of ThinkTwenty20.
