It was a standing room-only crowd of 200+ finance operations industry professionals today at the FinTech Conference at Securities Industry and Financial Markets Association (SIFMA) headquarters on Wall Street. I joined Gary Wiedman, Executive Director of UBS, and Mike Wade, Managing Director at Deloitte to speak on the topic of RPA and cognitive in today's securities industry.
Software robots in the workplace
A soon-to-be-released study by HfS Research, in conjunction with KPMG, found that 44 percent of BFSI organizations are planning to make significant investments in RPA over the next two years. The study also found that banks and insurance companies prioritize cost savings more than any other industry sector.
Our March 2017 BotVisions webinar featured Veronique Sani, CEO of Société Générale's (SG) Global Solutions Center, who treated participants to an insider's look at RPA usage in the banking industry, and insights into her financial institution's automation and innovation journey.
To set the stage, SG is one of the biggest banks in France, with 146,000 employees representing 122 nationalities in 66 countries across three divisions: French retail banking, international retail banking and financial services, and global banking and investor solutions. The Global Solutions Center, based in Bangalore, India, is responsible for technology, operations, and infrastructure management services.
I had the pleasure of hosting Paul Bartley, Director of Global Shared Services at Becton Dickinson (or BD as it's called these days) at the SSON Summit near Atlanta recently. We did a sort of fireside chat about BD's implementation of Automation Anywhere's RPA solution. Here are Steve's most compelling insights from our chat.
I was struck by the notion that BD must be one of the largest companies which so few people have even heard of. But the company is enormous. At $12B in annual revenue, BD is one of the world's largest medical technology and life science companies, with 45,000 employees in more than 50 countries. As impressive, it has to be one of the world's best managed companies, having been around for about 120 years.
We have officially launched Bot Insight, the industry’s first analytics solution designed for bots, and had a chance to showcase it to attendees at our monthly BotVisions webinar last week. (If you were there, thanks for joining). In the webinar, our customer Dell spoke about how they are leveraging native RPA analytics to grow their business.
During the course of the webinar we received more than 30 questions. I would like to take the opportunity to answer several questions we did not get to, and welcome you to ask more after reading this post and listening to the webinar recording.
When you have a smart Digital Workforce made up of bots that can capture and measure business data flowing through them, you can be quickly overwhelmed with all the information hitting you in real time. How can you make that influx of information actionable, easy to consume, and easy to act upon?
If you have an enterprise RPA solution that features a robust analytics foundation, you can institute a simple 3-step framework (measure --> act --> improve) wherein all data being recorded can be acted on to enhance business benefits and ROI. Let’s take a look at how this framework helps in the context of a healthcare payer.