Enhancing Budgeting Process Through Robotic Process Automation

Budgeting is essential for planning, control, and performance evaluation, yet traditional methods are often slow, error-prone, and inflexible. This chapter explores how Robotic Process Automation (RPA) transforms budgeting by automating repetitive tasks like data collection, validation, and reporting. RPA improves accuracy, reduces cycle time, and enables real-time insights, enhancing strategic decision-making. A case study on a mining company illustrates tangible benefits, including reduced manual workload, improved forecasting, and enhanced collaboration. The chapter also addresses challenges such as integration costs, system compatibility, and workforce resistance. It emphasizes the need for curriculum reform, continuous upskilling, and effective change management. Looking forward, the chapter highlights future trends in cognitive automation, AI-driven forecasting, and blockchain, advocating a hybrid model that balances automation with human judgment for ethical, sustainable budgeting.