Robotic Process Automation

We help businesses enhance efficiency and accuracy through intelligent RPA solutions that automate repetitive tasks and drive process transformation.

WHAT’S THE BUZZ ABOUT?

Process automation has been around for years. So what exactly is new about RPA in the context of business processes, robots or virtual agents that mimic the actions of a human being when it comes to interacting with applications. Robotics eliminates the need for certain types of low-skill roles. More importantly, they are tireless employees – working 24 hours a day, 365 days a year, and performing repetitive and structured jobs without a single error. They also cost a fraction of a typical Fulltime Equivalent (FTE) employee and can be put to work rapidly with limited input from the IT function.

BEING OPTIMISTIC

While the buzz surrounding RPA is enormous, some believe it cannot make deep inroads into AP. They cite invoice inconsistency and imperfections in Optical Character Recognition (OCR) tools. Skeptics also mention high service or non-PO invoices in some geographies and report discrepancies that require user communication with vendors. They warn that poor coding across a large format robots could create payment and accounting errors at scale, which impinge on the financial and regulatory health of the organization.

OUR SERVICE OFFERINGS ON RPA INCLUDE:

  • RPA consultancy services
  • Build and implement RPA solutions for the contact center back office / IT/IMS service management space
  • Build and implement UiPath/ Desktop and automation in the front office operations
  • Provide operations support for all the types RPA solutions
  • Any repeatable task or rule-based activity can be automated through RPA
  • It is easy to implement and takes lesser cycle time to implement
  • ROI can be achieved in less than a year
  • Repetitive and rules based
  • Saves structured data sets
  • Process is documented and standardized in practice
  • There is more staff time freed to complete the process
  • Data input is prone to human error
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THE SOLUTION

In JTP’s view, the truth lies somewhere in between the two extremes. RPA is neither a magic potion nor an empty promise. It’s true that every circumstance and exception in a complex process cannot be coded into robotics software. However, the intersection of multiple process improvement techniques point to a potent technology with material benefits when implemented judiciously. In the first trend, the drive for process improvement in AP has led to increasingly standardized processes, creating conducive coding capabilities. The second trend shows a larger wave of automation across business processes, which has resulted in several players rolling out robotic technologies that are well suited to AP.

Typical Processes Managed by RPA:

FINANCE AND ACCOUNTING

Invoice Processing, AP and AR, Reporting, Enhance Year End Close Process, Bank Reconciliation, Fixed Assets Analysis, Master Data Management, Vendor and Customer Account Creation.

HUMAN RESOURCE

On-Boarding, LQA Management, Populating Employee Data into Multiple Systems, Performance Appraisal Management.

FINANCE AND BANKING

New Account Verification, Data Validation, Customer Account Management, Financial claims processing, Report Creation, Form Filling, Change of Address, Loan Application processing.

JERSEY TECH PARTNERS’ THOUGHTS ON RPA:

  • The Bottom-line first: RPA satisfaction is a lot higher when the motivation and mentality is one of process improvement, not cost elimination.
  • The main issue with RPA, in today’s market, is this misconception that customers will make significant headcount reductions in the short term.
  • With outsourcing, the cost savings are staged carefully over a 5-year engagement as work is moved to cheaper locations; better technology and processes are introduced, in addition to automation, and the processes are ramped over time to allow for work to go down, ultimately with less people.
  • Simply planking RPA and not having a broader plan to transform the work, pulling several value driver levers, in addition to the patching of processes and digitization of manual work, will likely result in a mismatch between expectations and reality.
  • RPA needs to form part of a broader strategy to automate and transform work, where people, processes, analytics tools, SaaS platforms, outsourcing models and carefully developed governance processes are intrinsically woven as part of the broader transformation agenda.
  • Customers must take a more transformative view that if they can free up 50% of an employee’s time, they need to focus on refocusing him/her into an alternative activities. That is where the value is.