Audit Discussion
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UMGC-ACCT-RPAAwarenessLesson1.ppsxRobotics Processing Automation (RPA) Awareness
This overview is provided for UMGC accounting students via our partnership with UiPath, a leader in robotics processing automation.
academy.uipath.com
Welcome to RPA Awareness session.
RPA Awareness Training
Lesson 1
The basics of RPA
academy.uipath.com
Welcome to RPA Awareness session.
Course agenda
What is RPA?
1
Our journey
4
Key Market Drivers
2
Benefits
5
Companies' Operating Model Evolution
3
In this course, we will discuss some RPA fundamentals. We’ll start by explaining what RPA is, how companies have started to explore this technology and what are the benefits it brings in.
As part of this module, we will briefly talk about selecting the appropriate processes for automation, and we’ll share some of the lessons learned which can really make a difference for a successful RPA implementation. There are many myths surrounding RPA and specific risks that a company should be careful about, to ensure that the adoption of RPA is carried out smoothly.
Later in this lesson we will talk about UiPath as a company, and we will present an overview of our solution, along with a short demonstration of a use cases that was automated using our tool.
What is RPA?
Robotic automation uses a computer (a.k.a. robot) to run application software in the exact same way that a person works with that software
RPA aims to replace repetitive tasks performed by humans, with a virtual workforce. Humans then make judgmental calls, handle exceptions and provide oversight
Automation that interacts with a computer-centric process with a software User Interface providing support
RPA configures software that will automate the activities or tasks previously performed by humans
Test Closure
Test Strategy
Test Execution
So, what is RPA? RPA stands for “Robotic Process Automation” and refers to the automation of a computer-centric process using software robots. RPA aims to free humans of repetitive tasks by replacing them with a virtual workforce and enabling them to focus on judgement calls, handle exceptions and provide oversight. RPA primarily targets processes which are highly manual, repetitive, rule-based, with low exceptions rate and standard electronic readable input.
4
Cost pressure
New Technology
Outsourcing Market Saturation
Growth
Customer expectations
Compliance & Regulations
Key Market Drivers
Here are a couple of the most important market drivers that are forcing many companies to re-evaluate their current operating model and the way they deliver functional and cross-functional processes to their internal or external stakeholders.
Cost pressure and customer expectations for example: companies are always looking out to reduce costs and improve customer experience.
Some industries, for instance high tech, are rapidly growing, so instead of adding headcount they are looking for smarter ways to scale up.
New technologies, like RPA, AI and digital solutions have a big impact on the market and influence the way organizations choose to deliver their services. Companies started exploring with RPA a few years back and by now, most of them have included some component of RPA in their digital strategy. Enterprise RPA goes beyond the traditional level, where the focus used to be on automating just a couple of processes. Looking at RPA from an enterprise scale-up perspective involves automating multiple functions in multiple business units, to really drive those large savings or benefits across an organization. Equally important, outsourcing is becoming more saturated. There are new regulations that are constantly being put in place, all of which are forcing companies to look at these drivers and evaluate alternatives in service delivery.
5
Companies' Operating Model Evolution
Centralized Processes
(Shared Services)
Outsourced Processes
(BPO, ITO)
Globally Standardized
Processes (GBS)
Partially Automated Processes through Scripting, BPM
Automated Processes through Cognitive, AI
Automated Processes through Enterprise RPA
Let’s take a quick look at how company operating models have evolved over time.
In the early 80s and 90s we witnessed a consolidation of the transactional services to shared services, whether they were onshore or offshore centers. Later in the 90s and throughout the 2000s, outsourcing became the new trend, with companies trying to leverage labor arbitrage, through onshore, nearshore and offshore service delivery, or even through Global Services, where they delivered services at a global level through a mix of shared services and outsourcing. The last couple of years have brought a significant change in the delivery of services through technology, starting off with initial automation, be it in the form of scripting or macros, and following more recently with Robotic Process Automation, cognitive and AI, which have become the front market of service delivery.
6
Benefits
The Case for Enterprise RPA,
BETTER CUSTOMER EXPERIENCE
ENHANCED ABILITY
TO MANAGE
COST REDUCTION
NON - INVASIVE
TECHNOLOGY
INCREASED
COMPLIANCE
ELIMINATE REPEATITIVE
WORK
ENHANCED
PROCESSES
INSIGHTS AND
ANALYTICS
RAPID ROI
IMPROVED SERVICE
DELIVERY
SCALABILITY AND
FLEXIBILITY
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The Leading Enterprise RPA Platform
Here are the key benefits that RPA brings:
Rapid return on investment - The time needed to implement an RPA wave and the time to accomplish the ROI is much shorter compared to other technologies, like Business Process Management and Enterprise Application Integration. If the time to implement the last two ranges from 6 to 12 months and the time for ROI is between 18 and 30 months, with RPA the average implementation time of one wave is typically of 3 months, and the time for ROI is between 6 and 9 months, due the greater speed of automation.
RPA enables enhanced processes through enhanced process quality, compliance, security and continuity. All of those lead to an increase in the throughput and a boost in the overall productivity.
Better customer experience is achieved through augmented service quality that has the potential to reach an accuracy rate of 100%, given the high repeatability and zero fatigue. RPA typically helps decrease the delivery time, with a prospective reduction of up to 90% in cycle times.
Not only is the customer experience improved, but also the employees’ experience, as RPA enables companies to eliminate manual repetitive work. The new army of virtual FTEs can take over the non-value-added tasks performed manually by humans, while they in turn become virtual workforce managers, monitoring the robots and handling the exceptions.
RPA brings improved governance and compliance as the requirements are embedded in the automation rules and audit trails are available 100% of the time.
Processes and data security become stronger with RPA, and enhanced disaster recovery options provide remote server control over the robots.
Cost reduction is another important benefit: an RPA robot costs a fraction of an FTE and can work 24/7/365, which translates into a cost reduction of 35 to 65% for onshore process operations and 10 to 30% in offshore delivery.
RPA is a non-invasive technology: it does not require any major IT architecture changes or deep integration with the underlying systems (unlike BPMS). RPA offers a reliable, but fast and cost-efficient way for a “light-weight” integration into processes and IT assets.
Scalability and flexibility are two of the most important benefits: once a process has been automated and deployed to a robot, it becomes a matter of minutes to mobilize additional robots, to manage volume fluctuations. Scaling the robots up or down can be done quickly, for either no extra or minimal cost.
Finally, insights and analytics: all the activities performed by robots can be logged and interpreted through customized reporting tools, for the most part providing visual dashboards that can be adapted for each operational requirement.
That summarizes the benefits of RPA.
Thank You
academy.uipath.com
We have reached the end of Lesson I. Please proceed to Lesson II where we will see which processes are suitable for automation.
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The Leading Enterprise RPA Platform
In the next lesson, we will see which processes are most suitable for automation.
