Courtesy of Clear Software, Jon Gilman wrote a synopsis of his speaking session discussing 'Learn how Robotic Process Automation (RPA) Can Dramatically Improve Order to Cash (OTC) and Procure to Pay (P2P)'. Click here to download the full presentation.
For the last 15 years, productivity growth has stagnated in the United States and Europe. Meanwhile organizations have continued to purchase business software with the promise that these solutions will drive better productivity. So what is going on?
Jon Gilman has spent his entire career implementing business software and has found that it comes down to 2 key problems:
So what can you do about it? Your business processes can be optimized without throwing away the software investments you've already made. Robotic process automation (RPA) is a way for software to mimic human actions and reduce repetitive, low value tasks in your business processes. It involves bots, or scripts, that automate many common tasks such as printing a customer invoice or applying cash to open receivables.
Seventy Seven Energy used RPA to reduce customer order entry from 40 minutes to less than 4 minutes. Rush Enterprises used RPA to reduce purchase order entry from 9 minutes to 3 minutes while completely automating Accounts Payable reconciliation. BCBS of Minnesota used RPA in their call center to reduce call handling times from 10 minutes to 2 minutes.
RPA can clearly have a huge impact on your business, but you need to avoid the common pitfalls of process automation:
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