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Month: November 2016

How G1ANT.Robot works. A case study of the anti money laundering check

How G1ANT.Robot works. A case study of the anti money laundering check

Exemplis discimus is a great ancient rule that is incredibly relevant today. It means: “we learn by example”. Indeed, the best way to explain a new concept in business is to use a good case study that showcases how an idea could be applied in your enterprise.

The customers we meet daily have no problem understanding any automation concept, whether it’s simple or sophisticated and complex. They immediately grasp every financial aspect of automation and the  positive impact implementing smart software has on productivity. They know that agility is important in 21st century enterprises, and that insufficient innovation through robotic process automation (RPA) can rob projects of their profitability.

However, the problem is that sometimes they do not know exactly what we are talking about when, as we describe the benefits of RPA, we refer to mundane, boring and repetitive tasks.

When we admit that our G1ANT robot can automate every task that takes more than 90 seconds they often ask for examples.

I think the reason for this is that we have so many mundane tasks in our everyday work we wish were automated that some of us feel confused for a moment when we invoke robotic process automation in our conversations.

So let’s have a look at one of hundreds of examples of a simple task that can be automated using RPA: our original smart software, the G1ANT.Robot.  

Last month we recorded a very short video entitled “AML – Microsoft Dynamics CRM to LexisNexis Money Laundering”. In this video, you can see how our smart software logs into a CRM system, Microsoft Dynamics CRM. The G1ANT.Robot copies personal data from this system, then she (the G1ANT.Robot is female, by the way, breaking a shallow stereotype that difficult and complex technical tasks can only be done by male specialists) logs into the LexisNexis online account and pastes all personal data from the previous CRM to an online form located in the account in order to conduct an anti money laundering check. After completing this she goes again to the Microsoft Dynamics CRM and adds a pdf file to the personal profile, containing the current anti money laundering report.

This process normally takes around 5 minutes, but  G1ANT.Robot does it in 40 seconds, which is seven and a half times faster. Not only this, humans quite often make errors, but our smart software does not. Furthermore, the robot works 24/7/365, not just Monday – Friday, 9:00am – 5:00pm.

You can very easily calculate how much money you could save through this simple process. If you, or your employee, spend an hour every day completing this task, that amounts to 260 hours a year. Assuming that the person who undertakes this work earns £30,000 a year, one hour of this task is worth £14.40. £14.40 x 260 hours a year = £3,750. But that’s not all: as you remember, our robot completes the same process 7.5 faster. £3,750 x 7.5 = £28,125. What if implementing RPA freed a 1000 employees in a company from doing this process? That would amount to £28 million a year!

What if there are 100 business processes in your company that could be automated? There are probably much more business opportunities in RPA than most of us could even imagine yet.

As I wrote in one of my previous articles, RPA increases job satisfaction, boosts efficiency, makes and saves money, facilitates governance, improves agility and standardises processes. Today, I would like to add peace of mind and a much better foundation for planning the future of your business to this. In particular how, after automating mundane tasks, you now have employees who are happier and have more time for creative work! When you know that certain processes will always be done on time, at a predictable pace, with a high-quality and excellent final result, you can start to plan the immediate expansion of your business.

Andrzej Manka

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The 3 Aspects Of Business That Benefit From Automation

The 3 Aspects Of Business That Benefit From Automation

There is no end to the work in our lives and businesses. The more tasks we automate, the more new projects we are able to develop, making our businesses become more sophisticated and – above all – more profitable. What does this mean for contemporary enterprises, especially in financial or legal industries? If you do not automate your business regularly and if you don’t make automation one of your priorities, you will lose your competitive advantage.

It is quite easy to understand the role of automation in our world when we compare what was 10 or 20 years ago with what we have now. Can you imagine that, whenever you needed some information, you had to go to the city library instead of simply typing into Google or another online search engine? Can you imagine still using mathematical equations instead of counting on a calculator or using Excel, or that payments had to be made through the post, with cash?

Now automation in business is even more crucial – and radical.

Everyone who wants to develop a business should automate as many processes as possible in order to have enough time and energy to achieve and accomplish more.

Let’s briefly consider three different aspects of your business that could benefit from automation:

1. Design thinking

Design thinking is a foundation of success for every organisation. It is a popular method for solving specific issues. It is a solution-focused thinking. We live in a constantly changing environment that is becoming more and more complex and requires deep analysis and proper understanding. Design thinking has become part of the strategy of every corporation and every modern business. Automation software can provide even more opportunities for design thinking, freeing employees from time consuming, uncreative tasks. Design thinking cannot be an additional activity in a company; it must be a core competency.

2. Innovation.

According to Brian Solis, a leading digital analyst, 40% of companies that had previously been part of the Fortune 500 were no longer there in 2010.

Innovation is a cornerstone of every successful business. Innovation in finance means faster and easier operations, and in legal better and more accurate analysis and conclusions. Innovation in accountancy or insurance can mean fewer errors and simpler procedures. “Whenever you think about making business faster, easier or more accurate and simpler, the only answer is robotic process automation (RPA)” explains Chris Prusik, founder of G1ANT, an RPA startup company based in London, “Nowadays there is no innovation without automation.

3. Management

Effective management has been at the centre of every business for centuries. In order to manage well, you must have an innate ability to understand people (and things). You need to define your goals and have the knowledge to find the best way to achieve them. An automation process is one of the most powerful assets in almost every aspect of management, especially in measuring and controlling results. As Peter F. Drucker put it: “What’s measured improves”.

It has never yet happened that we have wanted to “de-automate” something that has been automated. Once work has been automated we never want to return to manual tasks. Automation through smart software brings efficiency and ease.

Instead of worrying about the loss of jobs, let’s start to plan what we can do better and more of, and what new fantastic, innovative work we can achieve in our businesses if we implement robotic process automation.

 

Andrzej Manka

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