The Fully Automated Enterprise (RPA)
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The document discusses Robotic Process Automation (RPA) and its applications in finance and accounting. It provides examples of common repetitive tasks in finance and accounting that can be automated using RPA such as accounts receivable processing, accounts payable processing, and invoice processing. The benefits of RPA implementation are also summarized, including improved efficiency, reduced costs, improved data quality, and regulatory compliance. SmartERP's RPA services and platforms that use artificial intelligence to enable automation across business processes are also highlighted.
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The Fully Automated Enterprise (RPA)
- 2. Today’s Speakers Nishi Kant Sharma Practice Head, Business Intelligence & Analytics @Smart ERP Solutions Nishi Kant Sharma is an augmented analytics expert who leads the Business Intelligence and Analytics practice at SmartERP. With 20+ years of experience in Business Analytics and Automation, his consulting experience expands over several industries including Banking, Healthcare, Education, Manufacturing, Technology Services, and more. Candice Carden Regional Customer Success Director @Smart ERP Solutions Candice has over 20 years of PeopleSoft experience with Resource Management, Project Management, and Operations Management with broad understanding of IT and PeopleSoft technologies. Committed to working with clients to ensure optimal ROI and Optimization of PeopleSoft and Oracle technologies.
- 3. Agenda Robotic Process Automation (RPA) RPA, AI and Finance & Accounting SmartERP Company Overview Questions & Answers
- 4. SmartERP Solutions | Global Expertise with Local Presence UAE Dubai Bangalore Hyderabad INDIA • Toronto • Boston • Chicago • Austin • Atlanta HQ Pleasanton, CA Chennai Founded in 2005 by former industry leading Executives, Architects, and Consultants Implementation Partner Microsoft, Oracle, Amazon, SAP, SalesForce, Informatica, Tableu, etc. Solutions and Services A unique blend of Solutions and services 300+ Clients Worldwide clients for life across various industries 350+ Employees Certified experts around the world – 24x7x365
- 5. Unique Blend of Services and Solutions Certified Cross Pillar Experience ERP, EPM, SCM, HCM, CX, PaaS Integration Resources Cross Industry Experience Education, Distribution, Retail Manufacturing, Professional Services, High/Fin Tech Platform Agnostic Database, Migrations, Upgrades, Data Conversion, Lift and Shift Advanced Analytics Machine Learning, Robotic Process Automation, AI, IOT, Predictive Analytics Integration Extensions and Development Business Intelligence Multi-Platform Analytics, Reporting, Data Visualization and Big Data On-Premise to Cloud Migration/Roadmap and Case for Change Assessments Microsoft Gold Delivery Partner Onsite, Off-site and Offshore Fixed Fee Delivery Model Quality Solution Delivery Experience Regional and Global Expertise Innovation at the Core of our Services Cost Conscious and Results Oriented Key Differentiators Services include: Fixed Fee implementation services along with strong project management, process improvement, change management and customization/integration/development capabilities.
- 6. Some of our Cross-Industry Clients Professional Services & General Bus. (Staffing, Legal, Education, Eng. & Construction) Manufacturing, Hi-Tech, Fin-Tech and Healthcare (Industrial, Hi-Tech and Semi-Con Lifesciences, Pharma, Bio-Tech & Healthcare Wholesale Distribution and Retail (Building, Solar, Furniture, Electronics, Wine, Food and Bev)
- 7. ERP/EPM/SCM/PPM HCM CX Cloud Sales, Service Marketing & Social PaaS/IaaS Some of our Cross-Technology Clients
- 9. Wikipedia: • Robotic process automation (or RPA) is a form of business process automation technology based on metaphorical software robots (bots) or on artificial intelligence (AI)/digital workers. It is sometimes referred to as software robotics (not to be confused with robot software) What is RPA? Investopedia: • Robotic process automation (RPA) refers to software / program to do basic, repetitive tasks across applications. RPA creates and deploys a software robot with the ability to launch and operate other software. RPA mimics the way humans interact with software to perform high-volume, repeatable tasks. Automation does not replace a process. Rather, it complements a process
- 10. What can be Automated High Volume Processes Repetitive Tasks Tasks with multiple steps Digital Processes Processes with high value potential (service improvement, efficiency, accuracy) Tasks that required human interaction between digital interfaces (ERP, email)
- 11. How many repetitive tasks (daily / weekly / monthly) are there in your department? A. 20 B. 40 C. More than 40 D. None
- 12. Common Use Cases – Across Business Functions Supply Chain Management Category management, Contract management, Strategic sourcing, Supplier relationship management, Supplier risk management, Procurement data management, Travel and expense management, Requisition to pay, Scorecards and dashboards, Spend analytics and reporting Human Resources On boarding, User credential creation and system access, Time report validation, Employee benefit invoice reconciliation, Payroll batch import and validation, Employee master data, Travel and expense management, Position management, Learning and development administration Tax and Invoicing Extracting information from systems, Formatting and work paper creation, Data validation and roll forwards, Inputting data into tax systems and forms, Generating reports, Reconciliations, Disclosures and attachments, Mailing and printing, efiing, Saving work papers and tax returns Finance and Accounting Accounts receivable processing, Accounts payable processing, Operational finance and accounting, Standard journal entries, Account reconciliations, Bank reconciliations, Intercompany reconciliation, Financial review prep, Regulatory reporting, Financial planning and analysis Information Technology Software installation, Application testing, Ongoing server application monitoring, File management, Identity access management, Security monitoring, Event management, Help desk management, Automated reporting, IT policy and training
- 13. Which department in your organization has the most manual repetitive tasks? A. Finance and Accounting B. Human Resources C. Marketing D. Sales
- 14. Five Workplace Changes That Will Define The Next Decade Post-Covid-19, we will enter the "intelligent automation era" that will forever change the way work gets done. Adapt to the 'intelligent automation era.' Employees will be capable of doing far more with far less repetition and with far less effort. Work will become more intuitive. The liberation from relentless manual tasks, like other workplace shifts, requires some guidance. Many employees are embracing it with a long-awaited sense of empowerment. RPA in news Ref: https: https://www.forbes.com/sites/forbestechcouncil/2021/02/24/five-workplace-changes-that-will- define-the-next-decade/?sh=2f66f5861358
- 15. "I predict that, because of artificial intelligence and its ability to automate certain tasks, not only will we have a much wealthier civilization, but the quality of work will go up and a higher fraction of people will have callings and careers .." - Jeff Bezos, founder of Amazon. Automation helps everyone
- 16. RPA Benefits Improved Customer / Staff experience Error Reduction Labor Hours Reduction Cost Savings Improved Job Quality – Staff Avoiding Multiple Enterprise Software Implementation Cost
- 17. A while ago…
- 18. At the store…
- 19. Jim’s Office
- 20. Web Site Scraping Customer Order Processing Incoming Customer Email Query Processing Transferring Data from one system to another Call Centre Operations Payroll Processing Jim shares his team’s initiatives
- 21. Now – Even during Peak Volumes
- 22. RPA and Finance / Accounting
- 23. RPA in Finance and Accounting? Can we use RPA in Finance / Accounting? Of work activities could be automated using technology. 55% Of TASKS which needed human intelligence can be augmented with AI. 40%
- 24. Common Challenges – Finance / Accounting 1 3 5 7 Operational cost of running human-intensive processes Retaining talents; focusing on value-added tasks Compliance with regulations Ensuring business continuity round the clock 2 4 6 8 Scaling human- intensive operations during peak volumes Maintaining quality of data entry / transfer between multiple applications Improving customer experience; Reducing “Average Handling Time” for customer requests Overcoming high costs / longer timeframes for implementing integrations between systems
- 25. Do you see areas of improvement needed to maintain the quality of data entry and/or transfer between multiple applications? A. Yes B. No C. Not Sure
- 26. Financial / Accounting Processes – Automation
- 27. Automation Use Case I – Extract / Upload 1. Price Gathering from ecommerce websites 2. Data Analysis and Email Notifications 3. Eliminate manual efforts for data transfers from one system to another 4. Alerts automation 5. Financial close and reporting - Baseline 10K and 10Q report creation processes improvement; RPA automatically processes tax entries into NetSuite from spreadsheets received from business units; reducing manual copying / data transcribing tasks of finance managers by 85%.
- 28. Automation Use Case II – Reconciliation / Validation 1. Cloud system user ID status verification 2. Record to Report -Record journal entries. Reconcile accounts, collaborate, and manage transactions. Maintain a detailed audit record for regulatory purposes. 3. Accounting reconciliation - accounting data from NetSuite, multiple Excel sheets, and customer invoices. Compare the invoice discrepancies in less than 1 minute compared to the 30 minutes it took prior. 4. Controller function – Reconciles the current period feed against the last period once the controller opens the file. The robot then spits out any exceptions or rejections that required human review if they do not reconcile automatically.
- 29. Technology Service – Case Study
- 30. Manufacturing – Case Study
- 31. Retail and Consumer Goods – Case Study
- 32. Financial Services Case Study
- 33. Healthcare – Case Study
- 34. Invoicing – Case Study
- 35. Which of the following business processes in your organization (with high-value potential) could use the following improvements? *Multiple Choice A. Service Improvement B. Efficiency Improvement C. Accuracy Improvement D. Customer/Staff Experience Improvement
- 36. Payroll Processing – Case Study
- 37. Supplier auto-boarding and vendor master creation. Supplier onboarding and vendor creation is generally a time-consuming in many organizations. With an RPA bot, the automatic vendor process can be executed without human intervention. A bot can data to enterprise applications at any time. Automation Use Case III – Vendor Creation AutonomousSpendAnalysis Supplier Auto-Boarding&Vendor Master Creation How much%of processcanbe automated? >50% Supplier verification Supplier authenticity Master datamanagement expenseas%of total spend Datarecord error rate Contract administration time Directly affectedKPIs What can't be automated?
- 38. Automation Use Case IV - RPA eases legal compliance concerns RPA excels at automating the mundane, repetitive, yet critical tasks needed for the law and business compliance to function. People are—and will continue to be—uniquely qualified for the strategic, creative, and cognitive work, which is often more interesting and fulfilling to them anyway. Compliance has become a focal point for all companies around the world, especially as globalization continues to increase exposure to multiple regulatory regimes and jurisdictions. Maintaining regulatory compliance is an area of expansive risk, and firms face various challenges in effectively meeting all their compliance needs on a regular basis. The challenge No matter the industry, companies must take an active role in ensuring they meet legal compliance standards and rules in order to produce their operations, employees, and customers. While these exact rules and standards vary depending on a company’s location, size, and revenue, all business are subject to legal oversight, from tax laws, regulations like the Federal Information Security Modernization Act (FISMA), Health Insurance Portability and Accountability Act (HIPAA), or standards like ISO 9000 The solution Every day, a software robot is triggered to automatically collects data from different disjointed systems. It cross-references information across the data and sends out an email in case of anomalies. Expected benefits • Improved Oversight • Higher level of Compliance • Increased Auditability • Reduces sampling bias and missed variances
- 39. Use Case – Invoices uploading | Pre - RPA ERP saves invoices to a folder, depending on the customer Sally opens Explorer; navigates to the folder for today’s invoices She selects all xml files, being sure to not choose any Excel files She zips these xml files into one folder While Windows zips the folder, she waits She navigates to the appropriate website to upload the files She logs into the website She uploads the newly created zip folder with the invoices to be paid End of Process
- 40. Use Case – Invoices uploading | Post RPA ERP saves invoices to a folder, depending on the customer Sally starts the UiPath AR robot End of Process for Sally
- 41. How many day-to-day tasks in your department require human interaction between digital interfaces, such as manually entering data from email to ERP, or vice-versa? A. 5 B. 10 C. More than 10 D. None
- 42. AI based automated Invoice Processing – A simple case Is there a way, I can process invoices from different vendors, in different formats? PROBLEM STATEMENT • Invoices from different vendors come in different formats, someone has to spend time, look at the right information • Team expansion, due to increasing number of invoices • Follow-ups / payment reminders • Time-taking process to group payments / invoices • Employees busy with regular invoicing tasks • Invoicing errors sometimes lead to late payment, or lost invoices
- 43. DEMO – Automated Invoice Processing
- 44. Invoice Automation Process Flow at Remitly Bot uses Web to create Vendor Bills 05 SmartERP Bot reads the email and passes the image to OCR software 02 Vendor sends the invoice as an email attachment to an inbox 01 Vendor Bills are approved and accounted in ERP 06 OCR engine converts the invoice to ERP compatible format 03 Human-Eye validation by SmartERP person for accuracy 04 Periodic reports to Client on vendor invoices that were digitized and loaded in ERP 07
- 45. Areas for RPA in Finance and Accounting Accounts receivable Accounts Payable Vendor Onboarding Intercompany reconciliations Investment Management Reporting and Forecasting Operational Finance and accounting Tax reporting Background Checks Automated Governance Purchase Order processing Remediating Discrepancies Processing Cash Data Vendor Data Compliance Logistics Management
- 46. Thus… Deploying Automation is what will help you streamline your financial and accounting processes in the future. Know, transform and adapt to the new Efficient and Effective - Today! Automation does not necessarily involve complicated math or algorithms. In fact, deploying and administering workflows can be smooth and fun! • With SmartERP RPA solutions, you will get efficient working processes / design workflow automation of any complexity. • You’ll understand and realize the efficiency of your current workflows and ones that you’ve recently automated. • Plus, you’ll get hands-on experience with a cutting edge, automation solution.
- 47. How SmartERP can enable your organization to Automate
- 48. Artificial Intelligence aided cognitive RPA We provide a holistic, technology-neutral approach to automation that goes beyond point solutions to maximize overalls benefits for our clients. Our Smart services are an end-to-end digital transformation approach. Smart RPA Enablement & Transformation Consulting Services Smart RPA as a Service / Managed Services Smart RPA Technologies & Platforms Our Client Expectations • Meet digital customer expectations • Drive efficiency in legacy operations • Enable new digital business models • Respond rapidly to changing requirements • Improve service quality • Speed time to market • Optimize workforce productivity • Do better Suited for Organizations who are yet to embark on their Digital Transformation Journey with Smart RPA aided by Artificial Intelligence Suited for Organizations already have chosen their RPA product, but need assistance in driving digitization. Suited for result oriented organization, who are focused on ROI. Here we use our own Platform RoboNxt™.
- 49. The BOT Farm Gigantic Bot Farm : Enterprise-grade | Elastic |Resilient | Bots on demand | Mailbot | Chatbot | Speechbot | 300+ bots | Textbot | Continuous delivery | Self-healing application | Working with your customers BOTFarm™ RoboNxt™ Our own automation framework which provides a practical blueprint approach to continuous automation across the your business processes. RPA Platform RPA Platform RPA Platform RPA Platform Gives Bots Learning Capability Brings cognitive capabilities to bots Automation Engine to design workflows Brings Machine reading capability BOT Development
- 50. Return On Investment Significant benefits from Smart RPA investments Enterprises, on average, achieved 40 - 50% improvementin operational metrics such as process accuracy, cycle time, staff productivity, and SLA compliance from RPA/AI Enterprises; on average, achieved a ROI from RPA / AI investments within the first 12 months More than 30% of enterprises achieved revenue growth from their RPA / AI deployments; this is result is indicative of a relatively lower level of adoption maturity in the market More than 50% of enterprises that adopted RPA/AI indicated high to very high impact on improving customer experience Fasterimplementation time and time- to-value realization with RPA than other comparable solutions such as Enterprise Application Integration (EAI) or BPMS tools Enterprises on average have achieved 30% cost savings from RPA / AI B C D E B C D E B C D E 100% A A A About 30% of enterprises that have deployed RPA have implemented Al in conjunction with their RPA deployments and the number is rising
- 51. A. Just Smart Form I-9 (Free) B. Both Smart Form I-9 and E-Verify (Free) C. Smart Applications with Smart Onboarding ($) D. Full Suite with HR Integration ($) E. Full Suite with HR Integration plus other apps ($) F. Not Sure? Use the question feature in your Zoom application
- 52. For More Information candice.carden@smarterp.com smarterp.com smartonboarding.com smarterpanalytics.com smarttalentprocurement.com smarteverify.com 404-452-8460 | Candice Carden, Regional Customer Success Director THANK YOU