Publish date July 26, 2019
Businesses are overwhelmed by new technologies and innovative products every other day. It’s an era of Innovation & Disruption, or maybe we should call it Innovation & Evolution, for a more appropriate choice of word, (E always follows D in the order :). The quest for new innovations has always been in the pursuit of becoming more Efficient, resulting the investments in R&D gaining a bigger cut in the budgets. Traditionally the primary goal of most innovations has been around achieving Efficiency – be it in process or in the product. As the B2C market took a huge leap in the last decade, a new “E” has become equally important for businesses, which is “Empathy”, or Customer Experience (CX), as it is termed by businesses. Without undermining the significance of CX, Efficiency as a goal always comes first in the sequence of Field to Fork.
Of the various ways a company can digitize their business processes, one which stands out in ease of adoption is RPA. Unlike the other emerging technologies like Blockchain, AI & ML, RPA is non-invasive, easy to implement and scale up, vendor agnostic and quick with tangible results like 24/7 availability & cost reduction.
A recent study on RPA adoption show that 52% of mid-size businesses in the UK have implemented RPA in their business operations and achieved:
Let’s take a quick look at couple of instances where YASH has helped its clients realize the value that Digital Workforce can bring to the table.
Sales Register Reconciliation Automation
The revenue reconciliation team in a large manufacturing company perform repetitive tasks of manually reconciling the sales orders and revenue report, correcting the errors and in some case re-run the entire report, and they spend on an average 5 hours daily. With the help of YASH RPA team, they automated the reconciliation process and reduced the staff time spent on the process to 2 hours.
One of the prominent cash management companies has automated the generation of the daily trip sheet for ATM vehicles. In the As-Is process, the staff receive the cash drop information from various branches in PDF files, then they create an excel sheet in the structured format that needs to be uploaded to the application. The staff used to take 2 hours to enter the information and provide the trip details for each managed service provider and there are around 11 MSP and averaging around 20,000 trips per day. By introducing automation, they have cut down the time from 2 hours to 15 mins per each MSP.
Answers to Adoption
All the innovative ideas, be it Offshoring as a model two decades ago or Cloud migration a decade ago or the ones like RPA, AI or ML now, must pass through 4 basics check points before being accepted by the market, namely, “What”, “Why”, “How” & “When”. All of them must have a clear answer at every stage for a business to realize the returns on the Investments made. Gone are the days where businesses used to wait for a new technology to stabilize in the market before they embrace it. Organizations need to be proactive in adopting the emerging technologies to stay relevant in the ever-challenging competitive world.
While steering towards the change in an uncharted technology territory, caution too is necessary in ensuring that the leading-edge won’t turn into a bleeding-edge (pun intended). But, with a right partner in place, the transformation is assured to happen in a flawless and most efficient manner.
Here’s the link where you could find more information about what YASH RPA CoE. Please feel free to leave me a note, if you need an expert advise on how RPA can help your business,
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