Impact of Robotic Process Automation (RPA) on Finance Function

What do you understand by the term Robotic Process Automation (RPA)? In your view,
how will RPA impact the finance function? Please explore impact across aspects of process
and people. Please add once example.
Robotics process automation is a software that operates as a workforce that is virtual and is
controlled by business teams. Robots are mechanical agents able to do certain mechanical tasks
usually performed by a human being or an animal. Their actions are enabled through software
programs, a set of commands or artificial intelligence. In my view, RPA will impact finance
functions as it “contributes to the optimization of finance processes by moving the processing of
the robotized tasks from the critical path to the low operations time (e.g. overnight or weekend).”
(Millington, Monfared & Vera, 2019). Robotic technology and automation go together.
According to the NASA, robots are classified into different types based on:-
a) The places they work – earth or outer space
b) The industry they work – automobile, medical, military, manufacturing
c) The jobs or tasks they do – grooming, mechanical jobs, rescue operations, inspection,
working in an environment hazardous for human beings
The advantage of having robots to do tasks is that they can work in environments where
humans or animals cannot work due to the hazardous conditions. Besides, in some situations,
there is a need to have greater control over the manner in which the tasks are performed. For
example, today many of the surgical operations require control to prevent microscopic damage of
the tissues, nerves and tiny blood vessels (Kurka & Díaz, 2019). Several procedures for example
laparoscopic operations are done through keyhole openings by robots. RPA impact upon people
will be severe as less people will be employed due to the automations brought about by RPA.