Achieving Resilience and Innovation with RPA in Financial Services

ACHIEVING RESILIENCE AND INNOVATION WITH RPA IN FINANCIAL SERVICES

AGENDA

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Introduction

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Achieving resilience and innovation with RPA in financial services  Improved accuracy

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 Scaled-up business workflows  Better governance Facts & Figures Conclusion

INTRODUCTION

Designed with the intention to automate workflows that are structured, repetitive, and rule-based, these new digital workforce supplements and augments the core teams in performing numerous tasks.

ACHIEVING RESILIENCE AND INNOVATION WITH RPA IN FINANCIAL SERVICES

Improved Accuracy

Scaled-up Business Better Workflows Governance

IMPROVED ACCURACY

With so many labor-intensive processes, there are increased chances of human errors.

Implementation of robotic process automation in financ e processes removes the inconsistencies of human performance by eliminating their intervention and consistently delivers accurate results.

SCALED-UP BUSINESS WORKFLOWS

As compared to full-time human equivalents, the figurative bots deliver increased productivity as they are suited to operate 24 hours a day, seven days a week, 365 days per year.

BETTER GOVERNANCE

With specially designed bots, each action can be tracked easily, including the access made and the outputs generated which are stored in a centralized database for review.

This audit trail capability allows the enterprises to hold relevant parties accountable.

AN INTERESTING FACT

Human error within the financial services functions produce, on average, 25,000 hours of avoidable rework for $878,000 per year. (Source - Gartner)

CONCLUSION

Configuring robotic process automation in finance enables the companies to achieve resilience and innovation seamlessly. It opens up limitless opportunities for data collection and related workflow as well as operational/tactical decision-making.

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