- RPA Tool License Cost
- Configuration and Implementation Cost
- Maintenance and other overhead cost
- IT infrastructure cost
the variation of the cost largely depends on COMPLEXITY
the variation of the cost largely depends on COMPLEXITY
NEW YORK, December 12, 2017 /PRNewswire/ — WorkFusion, the leading Intelligent Automation software provider, today announced that Axis Bank won the Editor’s Choice Award for Excellence in Finance Automation at the 6th annual CFO Innovation Awards in Singapore. The award was given to Axis Bank and WorkFusion for the outstanding automation of two of the bank’s critical customer journeys: trade finance and customer account opening.
“Our view is that rather than eliminate the human touch from this process, we wanted to reduce the time taken to do the matching,” said Rajiv Anand, Executive Director at Axis Bank. “After RPA, what used to take 15 minutes now takes only 2-3 minutes.” In only 60 days, Axis Bank i achieved a 70% process automation rate and significantly improved accuracy and turnaround time. To achieve these results, Axis Bank tapped the advisory services of The Boston Consulting Group (BCG) and chose WorkFusion Smart Process Automation (SPA) as its software solution.
“Axis Bank’s impressive achievement is an excellent example of how WorkFusion SPA drives operational excellence,” said WorkFusion president Alex Lyashok. “Axis Bank and BCG recognized from day one the need for a single platform that combines RPA, cognitive automation, OCR, and human-in-the-loop exceptions handling. The rapid results affirm the importance of having these capabilities in one product rather than burning time with point tool integration projects.”
About CFO Innovation Awards
The CFO Innovation Awards, inaugurated in 2012, recognize Asia’s leaders in all aspects of financial management. Nominated and voted on by the readers of CFO Innovation, the awards provide an opportunity to celebrate excellence and network with hundreds of leading CFOs and their partner suppliers. The annual awards ceremony acknowledges not only chief financial officers and their teams, but also the firms that provide them with the services, support, and technologies that enable their success.
WorkFusion’s Intelligent Automation software empowers enterprise operations to digitize. WorkFusion combines all of RPA and AI-powered automation capabilities that global businesses need to digitize into enterprise-grade products purpose-built for operations professionals. Operations teams at data-intensive organizations, such as global banking and financial services companies, healthcare and insurance providers, and BPO firms use WorkFusion Intelligent Automation to become leaner, more productive and agile. WorkFusion is headquartered in New York City with offices throughout the US, EMEA and APAC.
To view the original version of this article, visit: https://www.prnewswire.com/news-releases/axis-bank-and-workfusion-win-cfo-innovation-award-for-excellence-in-finance-automation-300570188.html
A fresh report on Accelerated and Intelligent Automation by the Everest Group was released today and it looks into solutions that the RPA industry can take on to tackle the inherent challenges experienced by organizations from sectors of all types when investing in automation capabilities.
The analyst report addresses the lack of specialized skills, scaling up concerns and handling automation projects that take longer than expected. Among the most prominent solutions to mitigate the challenges, the report highlights the following:
1. To counter the scarcity of specialized RPA professionals, vendors have already implemented programmes that deliver intensive training on different levels of certification, like the world’s first open online training platform, UiPath RPA Academy.
2. Partnerships between RPA vendors and business, digital and technology solutions providers are already taking place at a fast pace. These allow RPA platforms to deliver industry-specific features or solutions that ensure both an accelerated automation take off and easily scaling it up.
3. What’s more, integrating RPA, AI and cognitive tools leads to expanding the scope of automation, enhancing RPA functions and improving the RPA usability.
The Everest Group RPA Futures: Accelerated and Intelligent Automation report was made public today at the Automation Innovation Conference 2017 London event.
It’s not a question of whether to automate, but when and how your organization will deploy it in order to gain the most efficiency
Many businesses still depend heavily on people to carry out manual tasks for important outcomes. What’s been missing, until recently, is the ability to automate critical processes without changing the underlying systems and applications in use—which is often uneconomical, or just not an option.
With RPA forming a solid baseline, it’s become possible to incorporate machine learning, cognitive computing and AI to rapidly move to a position of intelligent automation with very little disruption to the business.
This whitepaper, produced by AIIA Network partner Thoughtonomy, is designed to demonstrate how organizations can realize the benefits of intelligent automation in helping to achieve their ambitions—from reducing operating costs to driving revenue growth, and from improved customer experience to creating a happier workforce—by considering the following key elements:
The question now becomes not whether intelligent automation is appropriate, but when and how your organization will deploy it, and what you’ll do with the efficiencies that you’ll gain.
Terry Walby is chief executive at thoughtonomy.
You Can read the full report here:
Enhancing operational efficiency is critical to meeting rising customer expectations
The concept of digital workforce is set to redefine industry standards on offshoring and workforce management, and disrupt the way businesses approach back-office operations and workforce management.
In particular, workforce automation through robotics process automation (RPA) has the potential to reengineer business processes, freeing up skilled resources for more strategic work.
RPA can help cut costs by up to 40-70 per cent, reducing human errors and increasing compliance and workforce efficiencies, thereby propelling enterprises to higher levels of productivity optimization.
This whitepaper, produced by AIIA Network partner NIIT Technologies, takes a look at how RPA is critical to enhancing efficiency and improving customer experience. It considers:
Below is the full report
The full article on nature:https://www.nature.com/articles/nature24270Published Oct 2017A long-standing goal of artificial intelligence is an algorithm that learns, tabula rasa, superhuman proficiency in challenging domains. Recently, AlphaGo became the first program to defeat a world champion in the game of Go. The tree search in AlphaGo evaluated positions and selected moves using deep neural networks. These neural networks were trained by supervised learning from human expert moves, and by reinforcement learning from self-play. Here we introduce an algorithm based solely on reinforcement learning, without human data, guidance or domain knowledge beyond game rules. AlphaGo becomes its own teacher: a neural network is trained to predict AlphaGo’s own move selections and also the winner of AlphaGo’s games. This neural network improves the strength of the tree search, resulting in higher quality move selection and stronger self-play in the next iteration. Starting tabula rasa, our new program AlphaGo Zero achieved superhuman performance, winning 100–0 against the previously published, champion-defeating AlphaGo