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Hong Kong’s Automated Future: An RPA Guide for Finance Functions

Hong Kong’s Automated Future

An in-depth report that explores the adoption of robotics process automation within finance functions in Hong Kong

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KPMG China, in association with ACCA Hong Kong, has launched Hong Kong’s Automated Future – a survey that analyses the current take-up of automation, with a particular focus on Robotics Process Automation (RPA) implementation within finance functions.

The survey features 388 responses from senior Hong Kong executives, as well as finance and accounting professionals and it reveals that Hong Kong companies may lose their competitive edge if they fail to invest in and adopt automation.

Automation is an opportunity that cannot be missed as senior executives demand greater and faster insights as well as value from finance functions.

It is now a good time for organisations to think through their automation strategy, with the government introducing a number of initiatives to establish Hong Kong as a regional innovation and technology hub. This includes the recent HKD50 billion earmarked for the development of innovation and technologies.

The report revealed a number of key RPA investment drivers, including refocusing resources on value-added tasks, minimising errors associated with manual processes, as well as cost-savings. Respondents, however, also highlighted challenges such as perceived benefits do not outweigh costs, lack of knowledge and having sufficient manpower to cover manual or routine work.

In addition, the survey findings showed that the technology, telecommunications, banking and finance sectors were among the leaders in RPA adoption, while the manufacturing sector was identified as one of the laggards.

© 2021 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in China, KPMG, a Macau partnership and KPMG, a Hong Kong partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited  ("KPMG International"), a private English company limited by guarantee. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

 

For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.

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