5 Factors in Choosing Which Processes to Automate

“99% of organizations still spend considerable personnel time doing repetitive manual tasks, with almost three quarters (74%) spending over a quarter of their time doing so.”

Complexity of a process can be defined by the number of applications/systems, the frequency of human intervention, or the number of steps required in order to execute the task.

Organizations do not have a defined set of opening hours, meaning a high volume of orders, requests, and complaints are received around the clock, regardless of weekends and holidays.

RPA is best most suited for automating tasks that are highly definable and occur the same way every time. These activities are be rules-based, consistent and data driven.

of Outsourcing Many business activities, especially in financial services, require a high level of regulatory compliance. This kind of security is often difficult to achieve and maintain with offshoring because companies have a lesser degree of oversight and direct control when processes are managed by a BPO provider.

How does it work?

RPA is machine and software automation that frees humans by mimicking human activity in manual, tedious, repetitive, rules-based transactions, processes and workflows, initiating responses and communicating with digital systems.

✓ Multi-system access (SAP, Oracle, AX, CRM, Excel / Access, legacy systems, other 3rd Party systems..)
✓ Clearly defined rules-based processes, Limited exceptions and human intervention
✓ Structured sets of data Documentation and standardized transactions.
✓ Deep SAP integration, low-cost implementation and Quick Deployment [ Around 3 to 4 Weeks]
✓ Simple, Frequent, repetitive, fast automation for business users to any areas of SAP
✓ No Manual data input from human and no errors. [ Fully Automated front office / Back office Robo]
✓ Reduce operational costs, increase efficiency, improve productivity and accelerate performance.

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RPA reduces manual processes, saves time and money

RPA is an emerging automation technology that manages, executes and monitors any repetitive front-office and back-office processes that do not require human judgment, allowing employees to focus on the more sophisticated tasks.

In other words, RPA software allows developers to tailor complex automations to a company’s processes. When an RPA robot is at work, it performs tasks just like a human activity like logging in, operating applications, entering data, performing complex calculations and logging out.

This is a cutting-edge digital solution that will capturing and interpreting existing applications for processing a transaction, include data entry, data verification, copying and pasting of data, data conversions, selection, interfacing between several applications, reports generation, triggering responses and communicating with other digital systems.

Glosap will provide you with perfect Robotic Process Automation (RPA) that aims at automating and integrating data with manual activities. RPA is used across diverse industries such as Manufacturing, Trading, insurance, banking, Finance and logistics.

RPA for Finance Automation ( SAP \ Oracle \ AX \ FINANCE )

Finance - Pre-calculated credit to a customer’s account

The Standard process performed by a Financial Person is as follows:

✓ The Financial Person runs a report in ERP to extract the payment record of a specific customer for the last 3 / 6 months.

✓ The data from the report is copied into a spreadsheet to analyse the risk, and calculate a revised credit rating.

✓ The credit limit is then applied to the customer’s account in the ERP System.

✓ The system will do the credit check & block the order after that.

Three Biggest Challenge of Finance Automation [RPA]

Treating RPA as a Legacy IT Deployment Is Causing Challenges for Finance Teams

“Unlike many new technologies, RPA has the potential to deliver significant business benefits on day one,” To deploy RPA successfully finance leaders must embrace a new mindset. Unless finance departments take a more agile approach when implementing RPA, they are likely to experience failures at each phase of implementation and won’t realize the full potential of the technology.

"RPA promises to speed up and automate routine processes while reducing the amount of errors, which in turn will enable human team members to pursue higher value tasks that cannot be easily automated"

1. The Planning Stage:

RPA deployments often fail to deliver on expectations because they are planned as an end-to-end process, rather than focused on a single activity within a process. A focus on mapping an entire process before automating a single activity will delay implementation significantly and, in fact, create extra work. This is because, once one activity has been successfully automated, the code can be quickly applied to other similar activities within the same or different processes.

“Finance departments can start relatively conservatively with RPA by focusing on using one bot against a number of individual activities. It’s still conservatively possible to see an output gain of up to 10 times, compared with a full-time employee working during the same amount of time.”

In this way, organizations can reap immediate efficiency gains from RPA, without investing a lot of time planning, standardizing and implementing. Then, when gains have been realized and the pilot is working well, they can move to other similar activities and processes in an agile, iterative way..”

Recommends that finance leaders focus on identifying the areas of responsibility needed to manage RPA, rather than relying on traditional, fixed roles for this purpose. Finance department leaders should account for the new competencies needed for successful RPA management, centered around digital process design. These are largely hard-to-train competencies and organizations will likely need new hiring processes to ensure the right skills for the job.

2. The Building Stage:

In this stage, difficulties again occur when leaders treat RPA deployment the same way as they have legacy technology projects. Traditional technology deployments have relied on a “ big bang” approach, where the majority of potential use cases are mapped and tested before the project is implemented. A list of requirements is generated and vendors are asked to submit their proposals.

“You don’t need to figure out every possible use case and requirement of an RPA solution before you begin,” This will just result in spending more time and money than is really needed.

3. The Testing Stage:

Relying too much on IT teams and vendors to identify the issues and needs for deploying robots often causes failures in the testing stage. The organization’s RPA team should take the lead in clarifying and directing support needed from IT and vendors at the appropriate times.

clearly defining responsibilities for RPA activities so that the RPA and IT teams deal efficiently with issues such as setting up and monitoring robot performance, with IT providing support for the underlying technology infrastructure. Due to the highly iterative nature of RPA technology, and the unique needs of the business it addresses, the most important aspects of managing robotics requires internal steering.

“The benefits of successful RPA deployments within finance include a reduction in errors from manual work and a redeployment of full-time employees to higher value activities,” “But robots are only as good as the people who design and manage them. CFOs should start any RPA deployment by ensuring they understand the new agile mindset needed to implement the technology, with the right competencies in place to manage it.”