Chintan leads the Governance, Risk, and Compliance (GRC) division at Kreston OPR and is instrumental in driving the firm’s technology consulting to success. With over a decade of experience in the field, he has consistently sharpened his skills and made significant contributions to the industry. As a qualified professional accountant, Chintan is further broadening his expertise by studying Business Analytics and AI/ML at the prestigious Indian School of Business, known for nurturing future leaders in business innovation. lFor insights from his journey or to connect, email chintan@kopr.co.in
Khushal is a key technical consultant at Kreston OPR, specializing in Analytics and Automation within the technology consulting sector. With over seven years of consulting experience, he has been instrumental in implementing process automation across various industries and providing analytics consultancy to clients. His hands-on experience and in-depth knowledge make him a pivotal figure in driving innovation and efficiency improvements.
How Robotic Process Automation could transform workplaces
March 11, 2024
Robotic Process Automation (RPA) could revolutionise the way we work, reshaping the landscape of work by automating repetitive tasks.
Khushal Makani, Senior Consultant, and Chintan Upadhyay, Associate Director and Vineet Rathi, Managing Partner at Kreston OPR Advisors LLP explore this topic in their latest article. Read the full article by clicking the link below, or read the summary.
Introducing Robotic Process Automation (RPA)
This innovation opens doors to strategic thinking, innovation, and improved organisational interactions. The essence of RPA is simplifying processes to maximise efficiencies within workplaces, particularly in sectors like finance, where it introduces new opportunities for Chief Financial Officers (CFOs) and their teams.
The evolution and expansion of Robotic Process Automation
RPA’s journey is marked by constant innovation, integrating with Artificial Intelligence (AI) and Machine Learning (ML) to handle complex tasks. The transition to cloud-based RPA solutions democratises this technology, making it accessible to businesses of all sizes. RPA evolves to offer industry-specific solutions, tailoring its capabilities to meet the unique challenges of various sectors.
Real-world applications and benefits of Robotic Process Automation
RPA showcases significant benefits across different industries:
- Efficiency and productivity: Automating tasks leads to substantial time savings, exemplified by a healthcare provider that automated patient insurance verification to save over 10,000 employee hours annually.
- Cost savings: Organisations report at least 10% in cost reductions, with a financial institution experiencing a 20% decrease in loan processing costs through RPA.
- Accuracy and compliance: RPA minimises human errors and ensures regulatory compliance, as demonstrated by a bank that streamlined its KYC processing.
- Enhanced customer experience: Automating back-office tasks allows for improved customer service, evidenced by a retail chain that reduced order processing time by 30%.
Finance sector transformation through Robotic Process Automation
RPA holds transformative potential for the finance sector, facilitating a shift towards strategic excellence. Automating 40% to 60% of finance processes can significantly impact data management, risk assessment, and overall strategic decision-making. Areas such as Purchase to Pay, Order to Cash, Record to Report, and Treasury Management are ripe for automation, leading to enhanced efficiency, accuracy, and strategic insights.
Overcoming challenges and setting up for success
Implementing RPA comes with its set of challenges, including employee concerns, process selection, and setting realistic expectations. A comprehensive strategy addressing these aspects ensures smooth adoption and maximizes the benefits of RPA.
Collaborate with Kreston Global RPA experts
Kreston OPR Advisors LLP provides end-to-end RPA implementation services, guiding organisations through identifying automation areas, deploying RPA solutions, and ensuring smooth transitions and continuous support. Their approach combines hyper-automation expertise with strategic planning to maximise returns on investment.
Embracing RPA for your business
RPA is predicted by the authors to be an essential part of the future of work. By integrating RPA effectively, organisations can achieve remarkable improvements in efficiency, cost management, compliance, and customer satisfaction.
If you would like to talk to one of our experts about RPA efficiencies, please get in touch.
