Revolutionizing accounting with RPA and alternative data sources: A Real Estate Market Case Study

In the dynamic realm of data-driven technology, web scraping has emerged as a valuable technique for extracting information from diverse online sources. However, its potential in the field of accounting remains largely untapped. This case study has a dual purpose: firstly, to introduce accountants to web scraping techniques and secondly, to emphasize their role as primary users of this method for data collection.

To achieve these objectives, the study employs Robotic Process Automation (RPA) to extract real estate data through web scraping. It outlines the necessary steps and the required IT skills for accountants to perform web scraping effectively. The study aims to strike a balance between data output quality and quantity while minimizing the demand for IT competences.

The findings suggest that RPA tools can be a practical solution for accountants looking to engage in web scraping. While RPA simplifies the process, it lacks advanced features needed for extensive web scraping projects. In such cases, collaboration with IT professionals skilled in programming languages is recommended.

This paper presents a perspective on using websites as data sources in accounting, offering insights for researchers and practitioners seeking to leverage web data for accounting purposes. It also underscores the importance of embracing digital tools to navigate challenges in the accounting field and advocates for minimizing resistance to digital transformation.