THE IMPACT OF WORKFLOW AUTOMATION ON FINANCIAL EFFICIENCY AND OPERATIONAL COST REDUCTION IN SMALL AND MEDIUM-SIZED ENTERPRISES

Abstract

Purpose: This systematic literature review investigated the impact of workflow automation — with emphasis on Robotic Process Automation (RPA) and financial technology tools — on the operational efficiency and cost structure of small and medium-sized enterprises (SMEs). The research focused on the financial sub-processes of accounts payable, accounts receivable, and bank reconciliation, analyzing how the digital transformation of these workflows affects organizational liquidity and profitability. Methodology: The PRISMA 2020 protocol was adopted for conducting and reporting the review. Searches were carried out in the Web of Science, Scopus, EBSCO Business Source Complete, and CAPES Periódicos databases, covering the period from 2019 to 2024. After applying inclusion and exclusion criteria, 52 primary studies were selected for qualitative and quantitative analysis. Findings: The literature evidences an average reduction of operational costs between 30% and 70% in automated financial processes, with productivity gains of up to 85% in repetitive tasks. The automation of accounts payable and receivable demonstrated a shortened financial cycle, improved working capital, and reduced manual errors. Barriers such as implementation costs, cultural resistance, and skill gaps were identified as predominant limiting factors for SMEs. Contributions: The study proposes an empirically validated financial digital maturity framework, structured in four stages — Diagnosis, Gradual Implementation, Optimization, and Strategic Expansion — specifically designed for SMEs seeking to initiate or deepen financial automation processes. The results expand the body of knowledge on digital transformation in smaller organizations and provide practical insights for managers, consultants, and policymakers.