There aren’t many areas of business which can’t be improved by the judicious application of a little power from automation technologies, and the finance function is in pole position to lead the way.
According to a recent Cap Gemini survey:
“Automation is an important tool for finance, because the function receives and processes transactions from myriad suppliers and customers in multiple formats. After converting all of these transactions into data, finance can conduct analysis and ultimately derive insights that drive decision-making. The finance function therefore features prominently in organizations’ automation plans.”
(“Reimagining Finance For The Digital Age, How The Application Of Intelligent Automation Is Transforming The Finance Function,” Cap Gemini, 2018).
In the enterprise, typically tasks which are dull, mundane, and repetitious are the ones which are prime targets for automation, especially if they are rule-based. From a user’s point of view, the advantages are immediate; no more mind-numbing repetition and no more having to undertake the same actions, day-in-day-out.
One benefit of RPA (robotic process automation) gained by removing this type of routine activity from the hands of humans is cutting the element of accidental mistakes – especially important in finance departments (learn more from this free eBook). But the value of RPA goes much deeper into the everyday workings of the organization. RPA drives impactful increases in productivity and the speed of process throughputs. These improvements reduce the cost burdens of any department or division which invests in RPA-driven working methods.
As these positives percolate across the enterprise as a whole and have an impact on overall bottom lines, there is also less danger of falling foul of the varying compliance & regulatory standards across the globe.
Companies like Softomotive specialize in deployments of robotic process automation (RPA) solutions. According to Bob Weare, chief marketing officer at Softomotive, such software automation technologies are “helping finance functions put their work on autopilot to achieve gains in personal, functional and business performance.”
In finance departments across the world, in all sizes of businesses, process automation is helping finance teams achieve results which are giving the enterprise a significant advantage. By starting small, thereby minimizing risk, yet able to scale quickly, RPA deployments are not needful of the sky-high investment levels associated with enterprise tech.
Rather, for modest outlays, the powerful results are proving that ROI can be achieved quickly. From this position of knowledge and assured results, enterprises can extend their use of this type of automation technology into other geographies and other functions, with confidence.
According to the recently published report: “The Forrester Wave™: Robotic Process Automation, Q2 2018 ” which identified the 15 most significant RPA providers, “Softomotive is a strong choice for individual business users, small teams, and medium-sized enterprises, given its strong serverless desktop heritage. WinAutomation is a good option for companies that want to start small, get an immediate ROI, and scale to ProcessRobot. It also provides a good price point compared with the rest of the field.”
Softomotive, with over 10 years of experience, has found that most of its clients are able to adopt RPA from the ground up thanks to WinAutomation, a product ideal for automation of desktop-based tasks.
WinAutomation is loaded with a range of ready-made actions or “building blocks” used to automate common desktop applications, which enable users to automate processes with minimal effort.
These can be applied to horizontal processes, e.g. back-office finance tasks across different verticals. Additionally, these automations can fit within any organization’s existing infrastructure and systems, avoiding disruption of workflows and processes that are already in place.
The time taken to realize value from automation means that the technology effectively makes its own business case. Beginning with the free 30-day trial of the desktop automation software, users can build automations and reap the rewards of RPA.
Enterprises can step up onto Softomotive’s enterprise RPA solution, ProcessRobot, a server-based installation which provides extended functionality in terms of security and access control, governance, operational performance, and RPA analytics. It shares a similar architecture to the desktop version, WinAutomation, as well as a common UI for designing processes. This means it is easy to scale seamlessly from one to the other.
ProcessRobot can be deployed to automate any process, error-free, no matter what type of application and underlying technology is used including desktop, web (all major browsers), Java, Citrix, mainframe with dedicated “Terminal Emulation”, Microsoft .NET, and any other technology. Specifically, the software integrates with existing systems, including SAP and Salesforce, amongst others, enabling efficient and error-free automation of any application. In practice, automation can be deployed as the glue that binds together disparate systems.
ProcessRobot provides for enterprise-grade security through seamless integration with Active Directory, in-house Kerberos authentication and single sign-on (SSO). Moreover, with the role-based user access functionality, users can benefit from granular permissions at any level during their workflow, allowing for additional security and control of any application – just quicker!
The benefits of Softomotive’s RPA solutions, right from the get-go of a single installation of WinAutomation on a desktop, and upwards with the server-based ProcessRobot, include cost reductions, performance boosts (robots are up to five times faster than employees), increased efficiencies, and productivity rate improvements. Faster work throughputs plus more efficient and productive working methods drive value, in any department and right across areas of the enterprise embracing RPA.
With RPA, organizations are able to help address ever-increasing regulation and compliance, without added cost. Softomotive’s RPA solutions provide greater visibility and auditability of transactions, leading to better control of integrated processes – wherever you happen to be trading in the world, any process executed or actions taken by users are logged; your robotic helpers will work as they ought to.
As well as working round-the-clock, not requiring rest breaks, never taking a vacation, and working both nights and weekends (!), robot deployment can be focussed at peak periods. When not required, RPAs simply remain unused. This type of working pattern mirrors many finance departments’ workflows, with period ends, financial closing, and the other sporadic peaks and troughs of business flow.
To learn more about Softomotive’s robotic process automation solutions, and how your organization can use them in finance, download this free eBook ” How Finance Can Transform the Business by Harnessing Robotic Power.”
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