Article Synopsis :
This short piece from KPMG outlines their recent work with an insurance client to use intelligent automation to support one of the company’s business lines as well as corporate and administrative back-office processes, the goal being to better engage employees and customers while lowering costs.
In four months, the company built an automation roadmap for automating core business processes such as customer form requests and back-office processes such as Salesforce gatekeeping and sanctions screening. By automating these processes, company leaders expect to:
- Shorten and simplify the process for customers to request forms
- Free employees to focus on working with customers to solve more complex issues
- Create consistent, streamlined and automated processes
- Shorten process time significantly
- Convert selected processes to managed services to avoid investing in these technologies (and the people to manage them)
A high-level outline of project steps:
- Identify processes to improve and potentially automate, evaluating processes across the targeted line of business as well as corporate and administrative functions including human resources, legal and procurement.
- Validate the company’s preliminary list of identified automation projects and make recommendations based on cost/benefit.
- Identify additional processes for improvement and select suitable technologies (in this case Blue Prism).
- Via an agreed methodology, select and prioritize the highest value processes and determine the best improvement method—a) simply revise the process, b) automate the process, or c) change the process to a managed service.
- Moving automated processes into production, concurrently deliver managed services to ensure the automations work in support of underlying processes.
Project insights include:
Transformation can start slow and gain momentum: Done right, expect results to accelerate.
Priority process + right technologies = better results: Company executives are fully engaged in working through the sometimes arduous process of selecting the right technologies for the job. Don’t skip this step.
Fee models can encourage success: In this case, KPMG agreed to a gain-share fee structure (for a portion of the work), based on achieving or exceeding certain business benefits such as cost reduction and reduced call times. Skin in the game typically drives better results, faster.
Link to Full Article:: click here
Digital Insurer's CommentsOur recent reviews on RPA have been rather long and involved and we like this piece for its simplicity. Though RPA is indeed complex, if you approach automation projects with the right framework and rigor (not to mention partner) you’ll not only succeed, but enjoy success at an accelerating rate one project to the next.
Link to Source:: click here