An undeniable fact is that every company is trying to find a quick, straightforward way to get an edge in their market. While there are a lot of solutions claiming to have the "Silver Bullet" of seamless automation, the major holdup, even more then money, is the sheer amount of time and disruption to the workplace [...]
Accounts Receivable staff spends a considerable amount of time chasing payable invoices. An out of control or aging AR can result in considerable strain on business cash-flows, hence accounting teams are under intense pressure to keep AR Current. This "chasing invoice" activity includes Run the AR Aging report Opening each invoice to check invoice [...]
Data updates to systems can be cumbersome especially if there isn't a standard data structure and the system does not allow for bulk updates through spreadsheets. A common example of such an update are product updates. A supplier may update product specifications from time to time and this can result in an extensive data [...]
Employee On-boarding requires various verifications and data entry into multiple systems. These include, employment and background verification, payroll, and IT provisioning systems to name a few. This can be time consuming. On-boarding activities include: Send and receive on-boarding documents from new employee Perform employment eligibility verification Create employee record in payroll system Enter employee [...]
Invoice processing is a time-consuming task. Invoices need to be scanned and read and various checks need to be applied before these can be entered into the Accounting System. Receive and read invoice Check invoice against vendor and PO Send for approval if discrepancies are found Enter the invoice into the accounting system Mark [...]
While it might not be one of the first industries talked about when considering the implementation of process automation, the healthcare industry is one where RPA has the potential for great transformation. Healthcare, particularly in emerging, or previously under served markets, is an evolving and growth-oriented field, and as the number of patients increases, the need [...]
Programming intricate processes that are required to automate complicated, dynamic, claims in a mainframe claims processing platform is too slow and expensive. Since most of the decisions necessary to automate a MHC claim are rules based, use structured data, and relate to relatively stable processes, RPA's non-code invasive nature makes the SDLC process unnecessary, which [...]
The Offshore Business Process Industry is a $63 billion Industry. It grew rapidly over the past 20 years as internet connectivity became mainstream and cost effective worldwide. The underlying premise behind its growth was a relatively infinite availability of cheaper knowledge based, English-speaking labor pools in countries such as the Philippines, India, etc. Most of [...]
A primer on How RPA can help in the Insurance industry --- Robotic Process Automation can free up between 20 and 30 percent of capacity at an enterprise level while also minimizing operational risk and improving the customer experience. Many insurance companies, whether providers of health insurance, car insurance, property insurance, or travel insurance are heavily [...]
The global RPA market is expected to reach US $8.75 billion by 2024, according to a new report by Grand View Research, Inc. RPA is maturing in terms of clarity, credibility and applicability, as organizations are increasingly implementing these solutions. RPA is emerging as a disrupting technology with capabilities of providing benefits such as enhanced accuracy, [...]
If companies and businesses want to ensure future success, it is imperative to accept and embrace the capabilities provided by robots. Artificial intelligence won't always be perfect, but it can dramatically improve your work output and add to your bottom line. It's important to emphasize that the goal is not to curtail employees but to [...]
"By reducing the amount of manpower needed for routine tasks, banks will be able to provide a higher level of service with the same, or lower number of employees. This will reduce the cost of finance, allowing them to lend to more SMEs and start-ups, further boosting the economy...Humans are not designed to do boring [...]
A large global bank sees an increase in efficiency and effectiveness in back and mid office operations by deploying RPA. "The technology is real. You don't have to spend too much time on experimentation," Dean Mazboudi advises. "Find a valuable use case and pursue it." RPA Proving its Transformational Value at Deutsche Bank Dean Mazboudi has [...]
Automation is impacting Accounting Firms and allowing professionals to move from mundane spreadsheet shuffling tasks to meaningful value-added interactions with their customers. Robotic Process Automation can significantly reduce time and increase efficiencies for accounting professionals by automating manual mundane tasks such as picking samples, payment to invoice matching, calculating materiality, security pricing, cash validation and [...]
For many years, enterprise innovation meant moving certain jobs offshore to produce work faster and at a lower cost. Today, offshoring is no longer a business's best option. With the emergence of enterprise automation technologies, organizations are increasingly leaning toward digital tools to operate more efficiently and effectively, and to ultimately beat out the competition. But [...]
