We provide product-agnostic service model to accelerate the implementation of RPA to help enterprises scale
The term Robotic Process Automation (RPA) is used for bot-based processes that partially or completely automate tasks that are repetitive in nature. These bots function by replicating human actions to perform manual, rule-based, and repetitive processes such as standard business transactions, response to simple customer service queries, and data entry. Typically easy to implement and low on costs, RPA can be a potent catalyst to execute process automation initiatives launched in alignment with the organization’s business goals.
Implementing RPA enables the BFSI industry boost efficiency and productivity, better engage with customers in real time, and reduce costs. A sizeable chunk of backend processes mainly comprising of rule-driven repetitive tasks can be automated using RPA without modifying the underlying legacy IT infrastructure. It also accelerates core processes and several front-end tasks such as chatting with customers, improving accuracy and curtailing the time spent in marketing the services.
Verinite holds expertise in enabling financial institutions improve operational efficiency through process automation. Veribot, our robotic business process automation solution can be customized in accordance with unique requirements of a financial institution. The product has top-of-the-line industry features include ease in creating and maintaining automation scripts, ability to perform across different platforms and browsers, MVC model of architecture, re-usability, etc. RPA process discovery is another key service we roll out. It enables banks to identify processes that would be fit cases for automation in short- as well as long-term.
RPA means redefining your labor and location strategies, which is bound to make it a bit foggy. Here are some typical challenges you are likely to face when implementing RPA.
Getting a new tool draws resistance from the end users for several reasons – lack of confidence, fear of failure, unrealistic timelines to learn and deliver, poor communication, etc.
A well-crafted definition of process is instrumental for meeting the desired objectives; however, failure to take into account the larger picture and nuances results in a off-the-mark definition of processes.
Overstretched expectation regarding the outcome of the automation drive is set to cause a heartburn, making it imperative to have a thorough analysis of all relevant aspects and expect what is realistic.
Shortage of locally stationed maintenance personnel, their incompetence or attitude-related issues create a hole when implementing robotic process automation.
A string of factors such as test activities, budget, team skills, and more mean zeroing in on an automation tool is always going to be a tricky task.
Accuracy of analysis depends on the vision of the tool selected. A flaw in tool selection is set to reflect in the analysis the tool ekes out.
It is important to consider interactions between the human cognition and the screen you have designed. Inconsistency here ruins the experience for the end users.
Numerous RPA tools are out there in the market and picking one that is the perfect fit for your requirements is always going to be a challenge. Here are a few tools that we choose from:
A cloud-native platform, Automation Anywhere rolls out end-to-end automation, drawing from the power of RPA, cloud, and AI.
Thanks to capabilities like Natural Language Understanding (NLU) and Machine Learning (ML), AutomationEdge can automate processes like networking, data center, end-user support, application support, and security.
Known for resilience, agility and flexibility, the automation tool is capable of undertaking a broad array of tedious tasks which you can manage with ease and quickly deliver efficiencies.
The tool takes your automation to the next level, accelerate digital strategy, and transform the lives of stakeholders while gaining operational speed and bringing new products to the markets faster.
Appium would automate any mobile app regardless of the language and test framework, with full access to back-end APIs and databases from test code.
Designed with a robust infrastructure to make your operations resilient in real terms, Pega enables you to respond fast and handle work volume efficiently.
Offering robotic automated solutions for diverse functions of a business, Automai facilitates custom workflows without code and sharing of dynamically generated scripts.
An AI-based integrated automation suite, Kryon offers process discovery, analytics and direct deployment to robotic process automation in a single platform.
We roll out top-of-the-line services related to robotic process automation that benefit enterprises in terms of higher efficiency, intelligent business processes, and cost savings. Here is what our service line constitutes of.
A well-defined automation roadmap is meaningful and takes the financial institution closer to productivity and efficiency that they set out to achieve. Identification of repetitive, rule-based tasks and their subsequent automation allows more time for value-added work.
Strategy should be more than an expression of hopes and aspirations. We take into account practical implications for organizational operations, analyse activities through all aspects, and put initiatives in place that are focused and realisable.
Banks rely on us to assess problem effectively and chalk out a well contoured scope of it when creating a problem statement. It is completely objective, factoring in only the facts related to the problem and shunning any subjective opinions.
Outlining Proof of Concept precisely is crucial for the success of a project. Running PoC involves rigorous testing to determine if specific features can handle the required tasks or if two disparate systems can function in harmony.
A full-featured AI-driven RPA helps achieve faster ROI. Our experts recommend how financial organizations can automate more businesses and IT processes at scale with ease, speed, and efficiency they had been aiming to achieve.
To enhance governance practices is key to success of an organization. Setting up a governance model requires organizations to understand their unique circumstances and needs, and ensure that their governance structures reflects these components.
KPI/Metrics can be effectively used at multiple levels to evaluate success of automation. Well-defined high-level KPIs help gauge the performance at the broad level, while low-level KPIs focus on individual processes in departments.
To comprehend and formalize how the business value chain functions in its entirety and use this understanding to map the AS-IS process is always a hard nut to crack. The document describes various flows of activities collectively culminating in the delivery of the final product.
To-Be process demonstrates what an organization wants to achieve. Creating a process model of the To Be helps convey the proposed changes to the stakeholders involved and get apprised of their view
An RPA tool often lives in a silo with business office having no idea of its existence or its usage is limited to a specific use case. The need is to prioritize these use cases by their impact and return on investment, and implement RPA accordingly.
To pin down the scope of an RPA tool greatly impacts the efficacy and costs of the project. The team gets down to the nitty-gritty stuff – specific project goals, deliverables, tasks, features, etc. – imperative for creating a robust tool.
A script may be as simple as checking a single field running a command on a single field, or it may be significant enough to perform the bulk of the automation. The optimum practice is to split up tasks into separate scripts.
Listing out the system transactions to be performed for validating a step of automation, a test script ensures improved ROI. The script automates the test suite, reducing the number of tests requiring manual execution.
To drive real results from BOT deployment, goals should be clearly set and capabilities articulated, both internally and externally. The BOT should run efficiently on end-users’ devices and the automation team should be able to schedule and control the bots using a central management system.
BOT isn’t something that a bank can expect to set up once and run forever. Continual BOT maintenance is required to meet the changing requirements and update the software, and improve the efficiency and performance of BOTs.
To maintain efficacy, BOTs require continuous analysis of their functioning and improvement of their functioning, whenever required. This will prevent any stagnancy and keep the BOT closer to accuracy.
Financial institutions that are unused to BOT licensing agreements find it hard to understand and manage them. Our team closely works with financial institutions to explain the nuances to their executives and making licensing a breeze for them.