Unlocking the untapped potential of automation
For digital transformation to succeed, employees need to be supportive. Genpact worked in partnership with employees across departments including IT, the central RPA team, risk and controls, and finance to identify internal change champions. Their role was to educate other employees about the benefits of automation. Following a bot demonstration to show how the new approach would improve their work, employees were happy to put aside their fears and false perceptions.
With employees backing the project, Genpact took a three-step approach: assess, design, and build.
We applied Genpact's Intelligent Automation Index to pinpoint where automation had the most potential in the LER function. The assessment considered many aspects of existing processes, such as the levels of standardization, criticality, and dependence on IT systems. While highlighting the potential for RPA, it also examined the other building blocks of intelligent automation, including artificial intelligence (AI).
Our subject matter experts collaborated with stakeholders across different entities and functions to standardize and simplify an array of existing reporting systems. We identified the processes with the most potential for simplification and automation, including opportunities for straight-through processing, while also prioritizing those with the best ROI. Another goal was to identify clusters of activities in which robotic code could be replicated and reused.
We identified five key activity clusters that were right for automation:
- Extraction of data from feeder systems
- Reconciliation of data across reporting systems
- Data enrichment using standard assumptions
- Exception handling
- Uploading of enriched data to the reporting tool, and real-time dashboards for financial control
By pinpointing the tasks within each cluster in the RPA platform, we were able to quickly replicate them across different reports and accelerate bot rollout. Also, by leveraging the computational power of the bots, we were able to significantly augment the bank's overall operational controls.
We implemented the process re-engineering strategy that we identified in the design phase by creating RPA objects that could be replicated across various reports, products, and organizational entities. As we deployed new bots, each one was rigorously tested, first by our technical experts and then though a systematic program of user acceptance testing. When the automated processes went live, we activated our hypercare maintenance framework to handle ongoing change requests and stay compliant with service-level agreements.
As robotics automates financial report production, bots work in a hierarchy of supervisor and worker roles. Supervisor bots allocate and manage work based on bot availability, how critical the activity is, and what other tasks depend on it. Each worker bot has a profile in the enterprise resource planning system that the supervisor uses when allocating work.
This holistic, end-to-end approach establishes the most effective scope for RPA implementation. It also allocates systems to clusters where bots can be replicated while meeting the individual needs of each process and report. This approach guided the creation of replicable custom-coded objects for the RPA platform, which reduced the development effort considerably. With 20 usable codes, we reduced the effort spent on development and testing by around 15%.