Tangentia Receives Prestigious 2019 Top 20 RPA Service Providers Award

  • Tangentia Receives Prestigious 2019 Top 20 RPA Service Providers Award

Tangentia is extremely proud to announce that their India team is the recipient of the 2019 Top 20 Robotic Process Automation (RPA) Service Providers award. This award is presented to companies that have a proven track record when it comes to the deployment and maintenance of RPA systems, making them a trusted service provider for companies that want to implement RPA in their business.

The CIO Review India editorial team, along with a panel of leading industry analysts, CEO’s and CIO’s took great care in researching all qualified candidates to determine which of them had enough industry experience and technical skill to warrant a spot in the top 20. The award comes at a critical time, as Ernst & Young reports that just 30% to 50% of RPA implementations succeed at improving the efficiency of a business’s overall processes.
The entire global #TangentiaTeam is proud of what our colleagues in India have done and slowly but surely customers worldwide will know of Tangentia’s agile digital transformation solutions around Automation, B2B and Digital” says Vijay Thomas, Founder and CEO of Tangentia.

Tangentia would like to thank all our customers, partners and associates in India for helping us achieve this honor.

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RPA has been embraced by many sectors, such as medicine, hospitality, retail, & manufacturing. Now, the financial sector is gearing up for a shift in financial management that will see companies digitize and streamline financial processes. Read our latest blog on how financial companies and internal finance teams are looking to RPA to become more efficient in day to day operations.
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Barriers to Implementing Robotic Process Automation in Finance


  • Barriers to Implementing Robotic Process Automation in Finance

The final days of humans performing tedious and repetitive tasks in the world of finance are drawing near. Robotic Process Automation (RPA) offers companies within the financial sector and companies with a finance and/or payroll department the ability to automate many of the tasks associated with day-to-day operations. And more and more companies are making the leap to automation. According to a survey conducted by PwC in 2019, more and more
organization in the financial services sector have been adopting RPA and IA. However, fewer than 20% of respondents have achieved adoption of automation across their entire organization.

The benefits of RPA for your business, regardless of its size, are attractive. It is worth investing in an evaluation of how your business can implement an RPA strategy in 2021. However, it’s important to keep in mind that, as with any technological advancement, RPA does not come without its challenges. Yet, these are challenges that can be overcome, if you plan ahead.

Barriers to RPA Implementation

As technological changes sweep through the financial industry, it takes time for companies to incorporate these changes and adjust to them. Shifting from manual processes to digital automation can be particularly jarring and can raise a number of issues within a company. What follows are the most significant barriers faced by the financial sector when it comes to implementing RPA.

Resistance from Employees

Whenever a new technology is introduced, particularly one that takes over tasks once completed by humans, it is common for employees to be concerned. They might worry that their responsibilities will shift, or worse, that their skills will no longer be needed, and they will lose their job.

The solution is to ensure there is constant communication with employees throughout the entire RPA transition. This communication should include what is expected from them during the transition and what they can expect their role to be once the implementation of RPA is complete. If they know they will keep their job, they will more fully support the transition to automation.

Reluctance to Fully Adopt

Even as employees are brought on board with the implementation of RPA, there can be a lot of hesitancy when it comes to full adoption of the technology. While RPA is implemented to take over repetitive and tedious tasks, making better use of human time, it is common for CAOs and corporate controllers to feel the need to maintain some human interaction with the system.

The need for this constant human presence subtracts from the significant savings of time and money that RPA can provide a company and holds them back from enjoying the full benefits of the automation. One way to avoid this is to run the automation in tandem with the traditional manual operations for a period of time to assess the performance of each in relation to each other. This will help everyone become more comfortable with the fully automated approach.

Poor Process Selection

In order to be a good candidate for RPA, a process must be well-defined and repeatable without the need for human intervention. Ideal processes include tasks like data collection, data migration, and copy-and-paste tasks. However, it is common for companies that want to implement RPA to select processes that aren’t good candidates for automation.

Tasks that require human involvement, such as customer interaction, are a prime example. With this in mind, it is critical for a company to thoroughly review all processes being considered for automation to ensure they are standard, repetitive, and can be done without the need for human intervention.

The Need to Standardize Processes and Overcome Organizational Challenges

Traditionally, IT has been a separate entity to the business side of finance. This creates a challenge in the implementation of RPA that is directly related to the need to standardize processes across an organization and redistribute roles and responsibilities to ensure there is more than just minimal communication between the various departments and teams involved in RPA implementation.

This relates directly to the above point of selecting the processes to which RPA will be applied. When choosing the processes, there can be disagreement as to how these processes understood by the teams involved and how they should be executed. IT must have input here, but also those teams that work in the relevant business departments. Ensuring there is a dedicated manager role to help tie the disparate teams together to ensure strong communication and a smooth RPA implementation is critical to success.

Lack of Compatibility with Legacy Systems

It is common for banks and financial institutions to be using banking technology that is decades old. This includes COBOL software that has been running mainframes since the 1950s and 1960s. When integrating a mainframe with the cloud, there will be issues with transaction volume. There are also issues related to a lack of updated/thorough documentation on all the business rules on which the legacy system has been built, updated, and patched over the decades.

This takes time and financial resources that can be daunting. However, it is a necessary step in the evolution of finance technology, and it requires a holistic digital transformation process that will move the entire organization forward.

Ultimately, the implementation of RPA for financial tasks relies on thorough planning from the very beginning. This makes it possible to educate employees, retrain where necessary, and make sure everyone is on-board. It also makes it possible to ensure the right processes are chosen as candidates for RPA. When this planning is done adequately, it makes the transition to RPA smoother for everyone involved.

Tangentia with more than 16 years of expertise in global project implementation and change management, is in an unique position to deliver seamless RPA projects through its Agile methodology. Contact us today to start your automation journey.

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RPA has been embraced by many sectors, such as medicine, hospitality, retail, & manufacturing. Now, the financial sector is gearing up for a shift in financial management that will see companies digitize and streamline financial processes. Read our latest blog on how financial companies and internal finance teams are looking to RPA to become more efficient in day to day operations.
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Robotic Process Automation Paves the Way to More Efficient Financial Management

  • Robotic Process Automation Paves the Way to More Efficient Financial Management

As the world of the 21st century transitions to a fully digital, cloud-based infrastructure, businesses are constantly facing the need to “do more with less.” While this might sound cliché, it doesn’t make this phrase any less relevant. Robotic Process Automation (RPA) is one way in which companies have been able to improve processes and deliver higher quality results more efficiently and at a lower cost, all while taking full advantage of digital technology.

RPA has been embraced by many sectors, such as medicine, hospitality, retail, & manufacturing. Now, the financial sector is gearing up for a shift in financial management that will see companies digitize and streamline financial processes. McKinsey reports that 80% of business are either considering the implementation of RPA technology for managing their financial processes or are already using it in some capacity.

The use of RPA offers tremendous benefits to businesses of all sizes. It has the ability to automate what would normally be considered tedious, repetitive tasks, resulting in:

  • Reduced costs
  • Elimination of human error and increased accuracy
  • Increased processing speed
  • Increased productivity
  • Improved quality
  • Improved customer service
  • Improved regulatory compliance and reporting
  • The ability to free up employees and other resources to focus on new initiatives

Consider the financial cost to a company to fix human-made errors that would have been eliminated with RPA. According to Gartner, 70% of accounting work to correct preventable errors before a financial close has to be done manually, at a cost of as much as 25,000 hours and $900,000 per year for a company with 40 full-time accounting employees. In addition, RPA costs about one-third the cost of one offshore employee.

A great example of the use of RPA is a financial institution that provides loans. The loan process can be long and tedious. It can take days to run credit checks and determine whether a borrower is eligible for a loan. RPA makes it possible to implement this loan approval process more quickly and more accurately by using it for back-end tasks that take time to complete and are subject to human error.
Other tasks financial institutions can manage using RPA include:

  • Compliance processing
  • Data management
  • Automating the verification and audit process
  • Account management
  • Processing new applications
  • Making credit decisions
  • Producing audit trails

However, a company doesn’t need to be a financial institution to make good use of RPA. Any company with a financial and/or payroll department will be able to reap the benefits. For examples, when it comes to accounts payable, it is common for many businesses to still rely on manual methods to process payments going out to employees and suppliers.
RPA can streamline the accounts payable process to ensure all payments go out on time every time by:

  • Automating the accounts payable process
  • Tracking duplicate payments
  • Processing all payments
  • Issuing purchase orders and invoice receipts
  • Detecting fraudulent invoices and transactions

In addition, RPA can help companies automate financial tasks like:

  • On-boarding suppliers and customers
  • Doing price comparisons
  • Setting contract terms
  • Gathering market intelligence
  • Tracking and gathering data from portal queries
  • Exception processing for special orders
  • Delivery reconciliation

RPA is a solution that is turning heads as it is adopted by more and more companies as a way to automate many back-end financial processes. The key to making the best use of RPA is to identify tasks that are a waste of valuable time and resources and allocate those to the automation process. This frees up financial resources and employees to focus on other initiatives that will help any company remain competitive and ultimately increase their bottom line.

Tangentia with more than 16 years of expertise in global project implementation and change management, is in a unique position to deliver seamless RPA projects through its Agile methodology. Contact us today to start your automation journey.

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With 2019 Nearly Over- Where are AI, RPA & EDI going in 2020?

  • Where are AI, RPA & EDI going in 2020?

    A perspective by Tangentia CEO, Vijay Thomas

2019 was a significant year for Tangentia. As a recognizable ‘global boutique’ consulting firm that provides bespoke services in Canada, USA and India—we are excited about the progress we saw.

Whether it was our core B2B business of EDI(Electronic Data Interchange) and Ecommerce or the development of our new AI(Artificial Intelligence) and RPA(Robotic Process Improvement) segment, we empowered many businesses to improve their core operations.

But what trends really defined 2019? And which ones will continue to lead the way into 2020?

2019 Was a Milestone Year For Tangentia

2019 was the year we committed to automation through our AI and RPA service offerings. While we had some exposure previously (mostly through providing staffing solutions), we expanded our offerings by creating a new range of services that focused on key problems that businesses face in a multitude of industries. We expanded our partnership with IBM to become a Platinum partner of IBM for Watson AI. Also we are global partners for Automation Anywhere, UI Path and Blue Prism in the RPA space.

We also consolidated some of our legacy services, improving our B2B business segment—which includes our legacy EDI and Ecommerce business. These services continued to grow substantially outside of North America with many significant wins in 2019 in India including India’s largest retailer.

Our global headquarters also moved in Toronto, from Willowdale to the Waterfront district, which saw us join the likes of Google,Uber, LCBO, Royal Bank, and soon Microsoft in what is arguably the fastest-growing tech hub in the world. We are beyond excited to be located in such an innovative area of the city.

How Will 2020 Impact Digital Transformations?

Company accomplishments are important, but the real value is in the lessons we learned from the exciting technologies that we offer.

So, what were the main takeaways from 2019?

Automation Isn’t a Magic Bullet

The RPA industry saw between 600-1000% growth in 2019. These numbers are large and signify that many companies are investing in this technology heavily. Major players in this industry have become unicorns in the investing world as the markets realize the potential that automation has.

However, AI, RPA, automation, and similar technologies aren’t a guarantee. Companies that invested millions into this technology without a plan saw minimal results.

Automation is a catalyst for innovation, but your business needs the right systems in place to take advantage of it. The goal of RPA is to enhance existing systems that are already working. An automation solution will decrease costs, improve efficiency, and other core metrics- but only if an organization understands what areas they need to improve.

It’s important that a company makes small changes that compound over time. We encourage our clients to push for real value and not to fall victim to the marketing pitches that they’ve heard about automation. Our team even has a Continual Process Improvement(CPI) using RPA model that we encourage our customers to try out.

In 2020, we expect to see more companies identify how RPA can help their organization cut costs, improve productivity, and make their business more agile.

EDI Isn’t Dead. It’s Evolving

Yet again, critics made the claim that EDI is dead. But as an EDI solution provider, I can assure you that EDI isn’t going anywhere.

If anything, EDI is evolving and adapting to the digital age. At Tangentia, we see EDI as any B2B communications between two business entities and not through the traditional lens of ANSI X12 or EDIFACT. And while this traditional EDI may be slowing down, XML and API formats aren’t going anywhere—especially in the age of integration. Today, businesses rely on countless apps having the ability to communicate and synchronize flawlessly. This alone will ensure the longevity of EDI as companies look to simplify B2B communications.

Legacy companies will always rely on some form of EDI, while modern startups have the benefit of building out in the digital world. Still, even startups require EDI solutions using either the XML or API formats.

Digital Transformations Matter – But You Must Define What It Means to Your Company

Digital transformation is the buzzword today. Every company is claiming they are making a digital transformation.But what does it really mean?

An effective digital transformation should be all about making incremental changes that drive long-term value and improve the user experience.

For example, a business may use an invoicing system that takes one month to complete. They could realize substantial gains by automating this process down to several days.

One advantage that we can offer our clients is the perspectives we have gained from working in Canada, the United States, and India. We can help companies identify what’s working in one region and find ways to adapt that same technology in another.

Digital transformations aren’t going anywhere in 2020. Successful companies are always looking to modernize and improve the way they connect with customers, employees, and partners. However, we expect to see companies focus more on what their personalized digital transformation looks like.

Where Is Tangentia Going in 2020?

Agile Digital Transformation

Our unique agile approach to digital transformation has allowed us to deliver complex digital transformation projects for the largest beverage alcohol distributor in the world, the largest retailer in India and many mid sized companies worldwide. We will continue to stay true to our belief in the power of the iterative agile delivery model.

Global Boutique

Tangentia is a ‘global boutique’ firm. We know how to execute using a global delivery model with much less overheads than our competitors and that provides our customers with high-end services at a value driven price.

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Interested in Automation but don’t know where to start? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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Teaming Humans with Bots – Workplace strategy for the Future

  • Teaming Humans
    with Bots
    Workplace strategy
    for the Future

Teaming Humans with Bots – Workplace strategy for the Future

by Rajhans Gupta and Nikita Mapari

“Robotgeddon” has become an awfully popular expression nowadays. The term was put together from the word “robot” and “Armageddon.” Could AI really replace humans? Let’s investigate a bit.

We are living in the golden age of digitalization: in the past few years, many new technologies have emerged. Two significant ones are artificial intelligence and automation. These rapidly developing fields have an effect on almost every area of business. If businesses want to work efficiently and successfully, they have no other choice but become better at AI and automation.

Automation or Artificial Intelligence

Automation means that a software (bot) does an activity automatically which could otherwise be done by using actual manpower. This is also the field where robotics is most useful. A machine that had been set up appropriately is able to do the task it has been programmed to do. Thanks to automation, you can put an end to boring and repetitive activities, which can easily and perfectly be done by a machine instead. The most important areas where automation is used are manufacturing, online marketing and sales processes.

Artificial Intelligence

AI is no different than a set of computers and automated software’s that normally require human cognitive functions (e.g. the ability to learn). You can see that there are similarities between the two technologies, but there is a significant difference too: while AI is able to learn and apply the things it had learned in practice, automation can only perform those monotone tasks that it had been programmed to do. The most important companies to consider when talking about artificial intelligence are Google, Microsoft, and Facebook.

Productivity Fluctuation: Robots Vs Humans

Creating a balanced and even workflow will optimize productivity for robots – in the same way as it does for human workers. Surely robots don’t get tired, can work 24/7, are fully skilled at what they are programmed to do, and don’t have any pesky motivational issues – so must their productivity always be consistently high?

For a bot or human, productivity is best measured as a ratio of output: input. How much work did we get out for the amount of time we put in? For this to make sense we generally convert time into “capacity to do work” based on some idea of how much work could be done in a given time.

So, if Person A completes 75 tasks in a day and they had the capacity to complete 100 then their productivity was 75%. Similarly, if Robot B completes 500 tasks in a day and had the capacity to do 1,000 then their productivity would be 50%. As we begin to increase our investment in Robotic Process Automation (RPA) and AI: the productivity of this (potentially) cheaper processing resource will matter – if not so much now then certainly when everyone is employing RPA to do similar tasks within the same services.”

But why would Robot B only do 500 tasks? They wouldn’t dawdle because they didn’t like their boss. They wouldn’t spend hours on social media, and they would surely only be allocated tasks that they were 100% capable of processing. Maybe Robot B could only process 500 tasks because there were only 500 available to be done. The plain fact of the matter is that with humans and robotics increasingly working alongside one another in service operations a blended and balanced approach needs to be taken on the issue of productivity.

Working Together

When thinking about smart machines or robots entering many domains of our lives, several visions come to mind: robots taking over the world, jobs disappearing, and machines running amok and reproducing themselves. But a look at what’s being developed today, and the potential of these new powerful machines, yields an optimistic view of the future.

Despite generations of new technologies, we’re now working more rather than less. Adult male peasants in the 13th century in the United Kingdom worked an average of 1,600 hours a year; a manufacturing worker in the United Kingdom in 1990 worked 1,850 hours; an investment banker in New York today works close to 5,000 hours. There hasn’t yet been a technology that has resulted in our working less.

This is because machines don’t just replace what we do, they change the nature of what we do: by extending our capabilities, they set new expectations for what’s possible and create new performance standards and needs.

So will robots take our jobs?

You’ve got no reason to worry though. An article from Forbes sums up beautifully the biggest paradox that comes to mind in connection with automation and AI. It is a generally accepted view that a software can do a human job more efficiently and with a smaller chance of errors than an actual human being. If you want to apply this theory to all aspects of life, then that means that robots are actually better at educating people and raising children, too. And the paradox is right there: if humans do have to compete with such smart machines, then there are also machines among these which educate and train humans to be better and to take advantage of their qualities (and these people will continue to build robots and make them even better so that the robots can further educate them, and so on). This way, it is already not so easy to imagine that robots will take jobs, right?

To Sum It Up

Amateurs armed with good strategies and harnessing the computational power of machines turned out to be the winning combination! That’s the best metaphor for the evolving new machine-human partnership: with smart machines as our partners, we can operate at the level of grandmasters, not just in chess but in most domains of our lives, from science and medicine to gaming and commerce.

The combination of humans partnering with bots and using superior strategies opens up new worlds for exploration. The thought of robots taking over the world one day and people losing their jobs, there is no reason to worry about such things. Automation and artificial intelligence are rather a blessing than a curse – they actually don’t take jobs from people but complement them.

About the Author

The authors, Rajhans and Nikita work with Tangentia India Technologies and are based out of our Goa and Pune operations in India respectively.

Tangentia is an implementation expert in AI,RPA & Automation solutions & has partnerships with UiPath, Automation AnywhereBlueprism.

To learn more about Automation & what Tangentia can do for you please follow this link .

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Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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Robotic Process Automation – The Next Big thing to look out for!

  • Robotic Process Automation
    The Next Big thing to look out for!

Robotic Process Automation – The Next Big thing to look out for!

Let me introduce you to the new kid on the block- Robotic Process Automation or in short RPA. RPA is a technology based on “bots” or software programs that can be easily programmed to perform tedious, mundane or repetitive tasks. Some examples of this are to collect data, feed data to applications, manipulate data, control various desktop applications etc. It can perform repetitive tasks much more accurately, quickly and tirelessly than a human, giving them time to do tasks that require  human qualities like reasoning, interaction with customers, emotional intelligence etc. Basically, RPA takes the robot out of the human.

In a birds-eye view, RPA software is being distributed by many vendors like Blue Prism, Automation Anywhere, UIPath, Kofax (Previously known as Kapow), ProcessRobot , OpenSpan (Acquired by Pegasystems) and adding to this list of organizations, there are various upcoming organizations and start ups who are trying to make a mark in the RPA space.

There are a huge number of real life examples of successful implementation of RPA at Tangentia itself. One of the many examples would be that Tangentia deployed a bot at one of the oldest companies in the Insurance sector in Canada. The objective was to automate their back office claim closing process on the web interface and the mainframe terminal (Claim management System. Using UIPath, Tangentia was
able to automatically collate, integrate and distribute these details in their systems which would allow them to close claims efficiently. The company was able to close a greater number of claims in a day as the time required to close a claim reduced by 50% and resulted in more satisfied customers.

Another case was when Tangentia automated the claim experience report i.e. reduce time taken to consolidate and generate reports, for a Financial Consulting Company. The objective was to integrate 300+ reports of 15+ carriers with more than 100+ clients for each carrier. Each carrier has multiple clients along with a unique set of clients. Automatically collating, consolidating and distributing these details into relevant reports allowed them to release claims efficiently and in a timely fashion.
Information about each claim gathered from various sources and analysis also had to be distributed and archived for compliance purposes. Using Automation Anywhere, Company was able to distribute details efficiently. The company was able to reduce the time taken to complete the task by 90% reduction in the efforts.

Tangentia also applied RPA in the Human resource department to automate a part of the recruitment process- sourcing. Traditionally, sourcing was considered to be a manual process where in recruiters had to type the keywords, use appropriate filters and find the right candidate fit for the role on various Job Portals. Using Automation Anywhere, this process was automated wherein, recruiters now had to enter the keywords on LinkedIn along with the specific criteria and this bot would gather the data and export it in an excel sheet. This significantly reduced the time spent on sourcing and finding the right candidate has become easier and less stressful.

Another example is of a Bank which used RPA to reduce their loan processing time by eliminating the repetitive copy-paste function of customer details from one banking system to another. The loan processing time reduced from 30 minutes to a mere 10 minutes, which led to higher customer satisfaction.

Mostly, Companies in the Banking and Insurance sector are finding that automation is a fast and cheap way of applying superior capability to the problem of compliance. The customer service also improves as there is more power in the process. For example, if the organization receives a lot of inquiries, you can free the employees to solve more important problems Based on the above examples, we can conclude that RPA improves the efficiency and productivity, eliminates human error, results in cost savings and most importantly impacts the ROI in a significant manner

A study conducted at the Everest Group showed that Top performers earned nearly four times on their RPA investments, while most of the other enterprise earned nearly double. In another study, NASSCOM reports extensive cost savings of up to 65% for onshore operations, 30% in offshore delivery, and investment recovery in as short as 6 months.
Here are some interesting facts I stumbled upon while doing my research on the buzzword- RPA

  • According to Forrester, the RPA industry will grow from $250 million in 2016 to $2.9 billion in 2021
  • According to Grand View Research, the RPA industry will grow from $358 million in 2017 to $3.11 billion in 2025
  • As per Deloitte`s Third Annual RPA Survey, a wealth of information on RPA, 53% of survey respondents are beginning their “RPA journey”
  • Deloitte stated that if this trend continues then RPA will achieve “universal adoption” in the next five years
  • Deloitte has reported that contrary to popular belief employee resistance has been low among adopting institutions- only 17% have reported resistance from employees
  • According to a PwC Global Operations Survey, RPA not only delivers benefits(reduces costs,increases efficiency, provides a superior customer experience, and dramatically reduces errors) quickly, but ROIs of between 300 – 800% are common

To understand the rise of this sector, we can also look at the funding received by the vendors of this technology

  • UIPath has raised $568 million in funding as on April 2019
  • Automation Anywhere has raised $550 million as on December 2018
  • Blue Prism will issue new stock to raise $130 million in funds as on January 2019
  • Workfusion has received more than $121 million in total funding as on January 2019

For years, we have been performing these boring and deskilled tasks but RPA has changed the game. It has become a disruptive force which has changed the relationship between technology and people, which is essential for a better future.
The future of RPA is intelligent automation coupled with machine learning and cognitive algorithms.

There are really good RPA software’s available in the market today, which has the ability to independently correct errors and adapt to certain situations. The intelligent automation of the future will be to apply judgment and learning.

About the Author

The author, Mamatha Manu, is a Recruitment Manager with Tangentia’s Consulting group based out of its Goa, India office.

Tangentia is an expert in implementing RPA solutions and has partnerships with UiPath, Automation Anywhere and Blueprism.

To learn more about Automation and what Tangentia can do for you please follow this link .

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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P&C Insurers – RPA & AI is a no brainer

  • P&C Insurers:
    RPA & AI is a
    no brainer

Introduction

Up until recently traditional P&C (Property and Casualty) insurers were protected from barriers to entry and disruption from new entrants. But the evolution of technology and customer interaction through various digital channels have opened up the floodgates for more nimble and efficient new operators to enter the market.

This has put the whole P&C insurance industry open for disruption and a shakeup. Added to this mix, is the fear among traditional insurers that the likes of Amazon, Apple or Facebook may enter their industry and by leveraging their digital platforms they can turn the process of buying a policy or filing a claim into one smooth and satisfying experience for the customer. So, the question then becomes what do they do to mitigate this threat? As they say the best defense is an offense.

Most P&C insurers see the clouds appearing on the horizon and that they have to embark on a journey of digital process automation and transformation sooner rather than later. In the digital age where information is available instantaneously, customers are not loyal to any one provider and gravitate to the one providing best value and experience for their money.

However, for traditional insurers this change may not be easy. Unlike the new entrants, traditional P&C insurers carry the baggage from the mainframe era and it may not be that easy to move faster to a digital based operational state from current state. This is where the services of a consulting partner can come in handy in speeding up the digital automation journey. We at Tangentia can certainly help in this regard. But before I talk about our value proposition it would be prudent to set the stage with the current state of affairs at most Insurers.

Current state of affairs

Most traditional insurers have their policy administration, billing, underwriting, and claims processes spread across their front, middle and back end office systems. The more progressive ones may have application platforms such as Guidewire for policy administration, Salesforce for customer relationships or Conversense for claims management.

While all those systems are steps in the right direction but we need to understand that the computerization at most traditional insurers began in the mainframe era and they still have legacy systems where the bulk of their old business resides. With the advent of internet, large investments were made in customer facing systems but the business continued to operate from a legacy system base.

As a result, while on the outside everything looks smooth but the inside is a different story. In the back-office operations, we find that the data gets replicated across multiple systems which creates added work with data being downloaded to spreadsheets and shadow databases and massaged or refined before being uploaded to another system. As a result, processes are broken and not very smooth, there are multiple touchpoints which slow down the operations and the whole process is prone to errors and delays. For a better customer experience, efficiency and effectiveness, processes need to be streamlined, seamless and digitally integrated from the point of origin to the point of delivery.

While the best solution would be to get a newer system that provides integrated seamless processes, yet this is not possible for most traditional insurers who have to leverage investments in their old systems. So, what do they do? The answer to that will depend on a progressive mindset and an openness to imbibe new automation technologies such as Robotic Process Automation (RPA) and AI. The good news is that we at Tangentia offer these tools and technologies for insurers. So, let’s look at our value proposition for P&C Insurers.

What does the Tangentia RPA & AI practice offer Property & Causalty (P&C) Insurers:

  • More than 12 years of Insurance Industry experience and deep knowledge and understanding of insurance processes and the insurance technology stack.
  • Implementation of consulting projects and Automation solutions at some of the top North American insurers.
  • Strong partnerships with IBM, Blue Prism, UiPAth, and Automation Anywhere for RPA and IBM Watson and Microsoft, Google, Amazon for AI .
  • Knowledge of Insurance industry software like Guidewire, Duck Creek, Insurity, Majesco, One Shield & DXC Technology.
  • A large technical pool of talent in USA, Canada & India.
  • A highly evolved RPA/AI implementation methodology that will guide you every step of your RPA/AI journey that will result in faster turnaround times and higher ROIs.
  • We can help in identifying processes for automation with our process discovery sessions and conduct a Proof of Concept to make you feel more comfortable with our implementation and delivery methodology and help you in setting-up a Centre of Excellence (CoE) for scaling and enterprise roll out.

About the Author

The author, Jaideep Kala, is a Sr. Manager with Tangentia Automation Practice (North America) based out of its HQ in Toronto, Canada.

Tangentia is an expert in implementing RPA solutions and has partnerships with UiPath, Automation Anywhere and Blueprism.

To learn more about Automation and what Tangentia can do for you please follow this link .

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Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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RPA and AI : Powering the Intelligent Enterprise

  • RPA and AI
    Powering the Intelligent Enterprise

RPA and AI : Powering the Intelligent Enterprise

Current Landscape

RPA is making a real impact in enterprise space and empowering knowledge worker by helping them focus on the more meaningful and value-added side of their work and offloading more mundane and repetitive tasks to an RPA powered robot. There is an enterprise workforce revolution underway led by RPA and AI/Cognitive technologies.

What is RPA? RPA stands for Robotic Process Automation. As the name suggests, it is the automation of tasks within a business process that can be handled completely or in part by a software robot. These tasks are repetitive, rule-based and most often are not a good value for human intelligence or time. Therefore, it makes sense to have the robot take care of these tasks. The robot can handle these tasks either in Attended or Unattended mode. In Attended mode, the robot works with the user in completing certain tasks while in Unattended mode human intervention is not required.

There is a plethora of solutions providers in this space, each with its own specialty. However, there are three main vendors that come to mind. They are – Automation Anywhere, BluePrism and UiPath in alphabetical order. Among these, UiPath is probably the fastest growing since it has recently received funding from big Silicon Valley Venture Capital firms in series C and D rounds.

Going by the interest in RPA technology, even by small and medium enterprises, it is not surprising that RPA has gained so much traction in so little time. Gartner predicts that by 2022 worldwide RPA spending will total $2.4B with an expected CAGR upwards of 30% in the next five years. The industry itself has seen rapid progress with new providers entering the market to cash in on this big opportunity. The recent push towards integrating AI solutions with RPA notwithstanding.

So, why is there so much interest in RPA/AI? Is it just hype or is it for real? Should you invest in it or should you wait?
To answer those questions, one has to see the bigger picture and what is shaping at the macro level. Here are some of the trends:

  • Digital Transformation: Traditional businesses are faced with competition from the likes of Amazon, Airbnb, Uber, Google, Microsoft and Facebook to name a few and are forced to change their business models to adapt to the new digital reality.
  • The rise of the omnichannel: Consumers are increasingly preferring to do their shopping digitally and interact with merchants with minimum touchpoints in a seamless manner across all channels.
  • Availability of Actionable Data: Digital businesses are able to collect data and actionable insights about their customers in real time and adjust to the market demand accordingly. For example, Uber rates go up if there is a high demand in an area for its rides on account of some event. Similarly, Airbnb is able to hike its listing rates based on the demand in an area.
  • Scalability: It’s much easier to scale up if you are a digital business. It took much less time for Airbnb and Uber to overtake their traditional counterparts in terms of market size and market cap.
  • Flexibility: Digital business is more efficient, responsive to customer needs and able to cross-sell.
Merits of RPA

RPA has many things going in its favor:

  • It has matured as a technology in a very short time.
  • It is widely accepted in the enterprise space and almost all CIOs/CEOs have RPA and by extension AI technologies in their digital transformation strategic roadmap.
  • It is non-invasive and can sit right on top of the existing infrastructure.
  • It is fast and easy to develop, implement and deploy.
  • It does not cost as much as some of the promised technologies before it.
  • It can be used to integrate your broken processes and streamline them.
  • It can bridge the disconnect between disparate legacy/internet systems and achieve a high ROI.
  • It is the last mile solution for deploying Cognitive and AI technologies in the enterprise.
  • Its open architecture allows it to integrate with third-party solutions. In other words, you can fit in your in-house solutions and AI/ML models within the RPA.
  • Last but not least a robot is highly productive and does not suffer normal human traits. It does not take breaks, does not ask for a raise, is less prone to errors, can work 24x7x365 without complaining and does not mind doing boring and repetitive work day in and day out.

So, what’s not to like about it? Nothing really if you ask me!!

In my opinion, the biggest value will come from engineering business processes. RPA/RCA will make the business processes faster, less error-prone, more intelligent and self-improving. This will also make the tasks of C-Suite executives easier to transform their organizations digitally and as a result, become more proactive to marketplace dynamics and more responsive to customer experience. AI will play a vital role in all of this. Some of the areas where AI is already making inroads is in enterprise space are in:

  • Visual Understanding: Being able to understand a graphic and identify the elements
  • Document Understanding: Being able to understand the document context e.g. extract information from legal contracts, invoices, etc.
  • Process Understanding: Being able to observe user behavior to learn and discover common tasks and processes. Identify processes for automation based on ROI.
  • Conversational Understanding: Being able to analyze sentiment, chat and voice input and able to route requests to the right team or department and integrate with chatbots and voice

All this sounds great but as we all know the challenge lies in implementation. So, let’s consider what is involved and how we can go about implementing these technologies. The first step is choosing the right consulting partner. It is very hard to do everything on your own and doing it right is even harder. So, as a first step, it is imperative that you choose the right consulting partner.

What to look for in the consulting partner?

Consulting partners come in various shapes and sizes especially those that want to cash in on the flavor of the day. Here is what to consider when looking for the right consulting partner.

  • A strong commitment to client success over their own.
  • Strong brand presence and value recognition.
  • A rich history of past experience in implementing RPA solutions.
  • Knowledgeable resources with certifications in RPA solutions.
  • Strong domain expertise in specialized verticals e.g. BFSI, Healthcare, Telecom, etc.
  • A strong partner ecosystem that brings the best of breed solution offering.
  • A delivery model that is global and based on Agile Methodology and best practices.
  • A metrics-based approach to ROI.
  • Good past client references.

Identifying and working with a right partner is the most important and crucial step to ensuring a successful RPA journey. Here are the other steps once a partner is on board.

Steps in an RPA implementation roadmap

Below are 4 broad steps to implement RPA in your organization

  • Identify a suitable RPA implementation scenario
  • Have a phased approach to RPA implementation
  • Build a Robotic Operating Team to carry out the execution process
  • Establish a Center of Excellence or CoE
  • Have dedicated individuals for process discovery, governance and change management within the CoE.

Identifying and working with a right partner is the most important and crucial step to ensuring a successful RPA journey. Here are the other steps once a partner is on board.

About the Author

The author, Jaideep Kala, is a Sr. Manager with Tangentia Automation Practice (North America) based out of its HQ in Toronto, Canada.

Tangentia is an expert in implementing RPA solutions and has partnerships with UiPath, Automation Anywhere and Blueprism.

To learn more about Automation and what Tangentia can do for you please follow this link .

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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Automation is changing insurance and here’s why

  • Automation is changing insurance and here’s why

Recently, we had a meeting with one of Canada’s largest insurance companies discussing Robotic Process Automation(RPA). The internal champion had spent months reviewing the top RPA software vendors. His conclusion was that they all do essentially the same thing. He found there were some major differences in how much these systems cost and a big difference between the price of unattended and attended robots.

Innovation

This insurance company is no stranger to innovation as over a decade ago they made the leap to transform their company from 70% paper: 30% electronic to 70% electronic: 30% paper. At this time they were at the forefront of innovation and almost 20 years later the challenges are less about paper and more about how people are working with scanned documents and the manual processes that still hold the company back from optimal efficiency.

The Challenge

The new challenges ahead are equally as daunting as they may have seemed when making the transition to a paperless office. In a large organization there are many stakeholders and all departmental decisions inevitably effect each other. Robotic Process Automation is a department agnostic solution as its only prerequisite to improve a processes speed is if the process is highly manual, repetitive, high volume and rules based.

Homework

Our team was impressed by the work that had already been done internally. This champion had identified over 80 different processes that could benefit from RPA. Each process had been documented in an excel file that included aspects of our RPA opportunity checklist. It was an extremely thorough document and we were happy because it made the next step a lot easier.

Where to start

No matter how big a list of processes you hope to automate, they all start the same way. Selecting one process for a Proof of Concept(PoC). Possibly the most important step in any RPA process is picking the right first project. If it is too simple it may not have the impact and ROI that is expected. This could stunt future investment in rolling out other RPA initiatives. If the selected process is too complex it could delay the completion of a successful first PoC. Just like Goldilocks and The Three Bears, you want to select the one that is just right.

Launching an RPA project

If you are looking to launch an RPA program within your insurance company. It’s realistic to have a fully functional full process within a 4 week period. At Tangentia we break down the Proof of Concept as follows:

Week 1. Prepare and Engage

  • Collaborate with stakeholders to identify and assist in identifying the candidates of RPA PoC.
  • Engage process owners via discovery workshop to confirm scope of PoC (assuming prior engagement to this point)
  • Prepare base infrastructure to host the RPA application.
  • Install the RPA tool in single environment.
  • Set up system access and credentials

Week 2. Select, Build and Analyze

  • Select & confirm 1 process for PoC.
  • Conduct workshop for documenting current state process via existing documentation and job shadowing.
  • Meet with process owners or stakeholders to explain what will be done in the PoC
  • Confirm the objectives of the PoC and “success” criteria
  • Build PoC

Week 3. Build and Test

  • Continue Building PoC
  • Test PoC with test data
  • Record a “before and after” to communicate the concept to a larger audience.

Week 4. Demo, Document, and Plan

  • Demo the PoC to stakeholders
  • Document key learnings, point of view on key questions and next steps
  • Document Requirements to move RPA bots into other environment

4 Weeks?

There is a lot of work to be done in 4 weeks. However, at Tangentia we are no stranger to doing what other companies can’t. For example, before beer and wine were available in grocery stores in Ontario, Kathleen Wynne made an announcement that alcohol would be available in Ontario grocery stores by Christmas. At the time, Christmas was only 6 weeks away. There were a number of companies that bid on this LCBO project but did not want to stick their necks out to deliver the project in that amount of time. They all said it couldn’t be done. We knew that simply wasn’t true.

Success

We won the project and successfully worked with the LCBO, its suppliers and vendors to support them and the millions of dollars of commerce that flowed through our backend system. This project was a big win not only for Tangentia but for the people of Ontario, who now have a more convenient way to pick up a bottle of wine.

Why choose Tangentia?

Now, why would you choose Tangentia to provide you with Professional Services for your RPA project? With over 150 people globally and a recognized partner with the top 3 RPA platforms including UiPath, Automation Anywhere and BluePrism, we understand business and RPA very well. In addition, RPA companies don’t want to be in the business of Professional Services and rely heavily on partners like us to carry the baton over the finish line.

How can I help?

I advise companies in insurance, banking and finance on robotic process automation. I am also a certified RPA developer. When you sell technology I believe it’s important to know your products and to use them yourself. Only then can you truly be an trusted advisor. If you would like to have a conversation about RPA leave a comment below or send me a message and I will be happy to help.

Get Started today

Interested in Automation but don’t know where to start? Looking for a reliable Automation reseller with the best possible pricing? Looking for somebody to help maintain, support and enhance your existing bots? Or just want to say hello? Contact us now. We promise a human will answer your query, not a bot.
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Pros and Cons of Robotic Process Automation Implementation

  • Pros and Cons of RPA Implementation

Pros and Cons of Robotic Process Automation Implementation

Tangentia Automation

The global robotic process automation (RPA) market size is expected to reach USD 3.11 billion by 2025, according to a new study by Grand View Research, Inc. When implementing a new technology, you must consider the benefits and potential drawbacks. Robotic Process Automation has many benefits and potential challenges in the form of product selection, process evaluation, bot architecture, user training and scaling up.

When evaluating RPA solutions, it is important to understand that there are many adoption challenges and opportunities. To take full advantage of an RPA solution, it’s the teamwork that makes the dream work. It all starts with asking the right questions. Like, “What are the challenges with implementation? What value-added services are there to ensure RPA success? What are the tough lessons learned during implementation that have lead to success?”

An automation strategies costs and benefits are complex as they can affect both front and back office processes. This is why we’ll highlight both the pros and cons of implementing RPA within your organization. Some of the leading software providers like UiPath, Automation Anywhere, BluePrism, Work Fusion and Pega RPA, all have there strengths and customer success stories.

However, finding the right product for your RPA initiative is an important step that starts with discovery and education. Let’s take a look at what RPA can do for your business process.

The Pros of RPA

Picture a Credit Union (CU’s) thinking about introducing automation in an effort to streamline administrative tasks. To make the CU’s business process much more efficient, this CU is looking for an automation solution to rapidly transform there back office processes. They are interested in leveraging the increased accuracy and speed of its business services. By implementing robotic process automation, this Credit Union can foresee immediate benefits including reduce time for consumer loan processing, enhanced accuracy of manual data input, and the elimination of repetitive copy and pasting between applications.

The benefits of RPA are quite similar across industries. RPA’s capabilities are of course quite incredible, and this is really a case where seeing is believing. The following are some less obvious benefits that Credit Unions find important.

Improved Compliance

Data gaps between separate sources of information are removed and all actions executed by the RPA robots are logged during automation. This allows for simple compliance management for running regular internal reviews. RPA systems work across many industries and have been built with a compliance first architecture. If compliance is important to you, RPA makes it easy to stay in line with even the strictest regulations.

Non-Invasive Compatibility

RPA is compatible with virtually any system that a human uses on a computer. Robots recreate the same activities people do everyday like copy & paste, navigating the internet, using banking applications and of course Microsoft Excel. With incredible speed, a bot can move between applications to get more work done, faster. The RPA technology works with the user interface elements on the presentation layer of your screen. This means you do not need to update your legacy systems when you bring RPA into your company. RPA is a unique type of automation because it is Non-Intrusive. It can also reduce the time pressure on IT as users do not need coding ability to work with the RPA.

Increased Management

RPA provides a platform to centralize an organizations management of bots, auditing and analytics to remotely model, monitor, control, schedule, and execute the deployment of RPA software robots. Enhanced governance can be achieved by creating automation rules to manage business operations. High levels of security can be managed and maintained through secure remote server control.

Enhanced Customer Experience

Relieving employees from the burden of repetitive work is what most companies view as one of RPA’s big benefits. Even though back office automation doesn’t seem to impact front office work. RPA can drive customer improvements. Through automation an organization can deliver quality services faster and decrease the chance of errors.

The Cons of RPA

It’s easy to see how RPA can benefit a CU by improving business operations and customer service. Rolling out a new enterprise solution without challenges isn’t realistic based on most organizations historic experience.

Here are some of the challenges that you should look out for if your are considering the successful implementation of RPA for your Credit Union:

Employee Resistance

People are habitual and organizational change can cause stress among employees. Employees who are part of a new technology implementation might be put-off by taking on new responsibilities. It means learning something new and not everyone shares the same level of enthusiasm. Setting the right expectations and communicating them through corporate leadership and executive sponsors will ensure employees stay informed during the RPA implementation process. For successful RPA adoption its best to create a culture of innovation to accelerate adoption.

Process Selection

It is best to select tasks that are repetitive, rules-based, high volume, and do not require too much human judgement. Those tasks are real winners as they will help you see the fastest ROI and greatest company-wide impact. Think “Where do we use copy-paste a lot? Where does data migration take a while?” The more non-standard the process the more difficult it is to automate and the more human interaction required to complete the task. More complex tasks include interacting with customers and developing human relationships. Of course, the upfront time it takes to identify the right process is necessary to successful process selection. You may not need to automate everything right away. Think “What one process could we change that would make the biggest difference?

Managing Expectations

So as to not disappoint, be mindful when it comes to setting internal expectations for a new technology like RPA. The excitement for what’s possible should not be overshadowed by the practicality of the processes that need to be improved first. RPA will not fix all operational problems or broken processes. Companies need to decide on the right technology for their unique RPA needs. By communicating expectation regarding results, point to other companies successes stories so people can see a road-map where they are going.

Navigating Obstacles

Proper prior planning will help you conceptually manage all the moving pieces. Working with a partner that has experience in the trenches of RPA projects can prove to be invaluable. To get the full benefit of an RPA solution, partners like Tangentia can provide best in class lean operation principles to your organizations workflow. When weighing the Pros and Cons of and RPA implementation, the right partner can really tilt the scale in your favor as you navigate the uncharted waters of RPA for your company.

PwC says in their white paper Organizing Your Future with Robotic Process Automation that “a couple of RPA’s greatest benefits are often overlooked…[such as] its ease of deployment.

When you overcome the challenges of the automation selection process and minimize employee resistance, you will experience RPA implementation success. Few things are more gratifying than identifying a process that needs improvement and working together as a team to drive innovation. During the process, new ideas will emerge for other areas of the business to be automated. Widespread adoption can help the company realize the full cascading benefits of a true world class RPA solution.

Whether you are interested in UiPath, Automation Anywhere, BluePrism, Work Fusion or Pega RPA. Here at Tangentia we understand process automation very well and can help you throughout your implementation from initial discovery conversations to enterprise multi-bot rollout.

Get Started today

RPA has been embraced by many sectors, such as medicine, hospitality, retail, & manufacturing. Now, the financial sector is gearing up for a shift in financial management that will see companies digitize and streamline financial processes. Read our latest blog on how financial companies and internal finance teams are looking to RPA to become more efficient in day to day operations.
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