Optimising financial processes

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Something to Consider 5: August 2018

Something to Consider August 2018 – 10 Insights on Applying Intelligent Automation to Global Finance Processes

10 Insights from Shared Services Leaders on IA

In 2018, it is hard to find a company that is not rolling out RPA solutions or seriously thinking about getting started soon. However, despite it’s promising outlook and overwhelming amount of hype, there are still a number of kinks to be worked out by companies before they are able to fully realise the promised value. It’s crucial to look beyond the marketing mythology to the realities of applying RPA and AI in real businesses, with all the good and bad that goes along with it.

In a recent survey of Shared Services Leaders for their opinions of RPA, there were some eye opening results. Whilst 87% of respondents indicated that executives were positive about RPA, only 17% of respondents felt that transactional workers were positive. Of those that had implemented RPA in their own organisations, 35% had not achieved their planned benefit.

A relevant observation by BD (formerly Becton Dickinson) is that “RPA is about fixing the potholes in the road. Do not confuse it with building the new highway”. There was consensus amongst those surveyed that we need to understand our business processes much better to get the real value from this next generation of automation. What are the effects that RPA has on the operating model we have been working with for 20 years, the impact on outsourcing relationships, the opportunity for business partner roles, the impact on talent, culture, process, workforce and change management? All these need to be considered, understood and prepped to support successful transformation

It’s crucial we know what NOT to do in implementing RPA and AI as it is in knowing what we should do. We have put together some more highlights and 10 conclusions from feedback from the global group of Shared Services Leaders. Wherever you are in your Intelligent Automation thought process, strategy or journey, there is something for everyone. Have a read here​​​

Our ‘Something To Consider’ snippets are framed as small, digestible, ‘dashes of insight’ around the pillars of what we define as “World Class Finance” – Process Optimization, Financial Control and Compliance, and Risk Assurance, all underpinned by technology enablement and integration.