From left: EY Sri Lanka Companion Hiranthi Fonseka, Supervisor – Assurance, RPA and Analytics for Reporting Johann Anderson and EY India LLP Companion – Consulting Kamalanand Nithianandan
Ernst & Younger (EY), lately hosted a webcast for its monetary establishment shoppers to debate the right way to maximise the automation potential utilizing globally-accepted greatest practices and frameworks.
Throughout this session which was facilitated by EY Sri Lanka Companion Hiranthi Fonseka, EY Sri Lanka Supervisor – Assurance, RPA and Analytics for Reporting Johann Anderson and EY India LLP. Companion – Consulting Kamalanand Nithianandan mentioned their method to implementing automation options based mostly on EY Automation Life Cycle Framework.
To implement automation efficiently, organisations should deal with all phases inside the automation journey. The webcast advanced round enlightening its contributors on how EY main follow framework permit EY shoppers to navigate by means of each key facet of a profitable implementation of Automation.
A very powerful part of the Automation journey is ‘course of choice’. Solely afterwards can a deep-dive evaluation be carried out based mostly on recognized processes by means of learning key course of traits for automation e.g. share of exceptions, knowledge standardisation, degree of conditional/logical statements and so on. Each these phases mentioned can be checked out through the inception of adopting automation for the enterprise.
RPA would primarily work properly for processes that are routine, and rule based mostly. Thereby commencing an automation challenge with a correct in-depth course of research will contribute to mitigating unexpected dangers reminiscent of longer implementation intervals or incapacity to develop the answer in keeping with the corporate’s requirement.
Primarily based on the Automation Life Cycle Framework, EY groups then performs a ‘Course of Discovery Evaluation’. It gives steerage to monetary establishments with an already applied RPA resolution to scale up their RPA bot and assist maximise full effectivity.
Regardless of having applied RPA, scaling-up the automation use circumstances and rolling it out efficiently throughout the board is a continuing barrier for a lot of FIs. Fonseka defined throughout her session: “Utilizing EY staff’s method, monetary establishments can efficiently transfer in direction of a reworked Automation led enterprise overlaying a variety of processes to be automated throughout all departments”.
EY evaluation carried out comes from its globally accepted greatest practices and frameworks that may present a transparent path to roll out a large-scale implementation assist. Primarily based on the recognized implementation plan, EY shoppers can determine on the variety of processes they might wish to incorporate within the automation journey and accordingly realise the ROI they might obtain.
Moreover, EY groups supply recommendation to first-time adaptors on prioritisation of the processes to be applied in the most effective sequential order in order that the enterprise will obtain a hyper-automated implementation course of (quickest resolution).
EY organisation provides Centre of Excellence (COE) companies to the monetary establishments that undergo your complete automation life cycle as its closing phrase. This implies, assist set up a committee inside the enterprise that may handle and carry ahead the RPA automation journey as soon as EY groups deploys the options. This primarily is relevant for companies that adapt automation on a big scale. Some of these companies have a number of processes automated to run at preset timings through the day.
EY COE expertise comes with governance, main practices and EY’s personal change expertise initiatives which assist guarantee this large-scale challenge is managed based mostly on international requirements with a core staff recognized and skilled to run the COE. Nithianandan mentioned intimately how a COE might be established and acknowledged that he has been accountable for establishing over 50 COEs.
EY groups additionally mentioned its course of excellence capabilities to standardise and enhance processes. Since EY groups are skilled companies supplier having expertise in a number of domains, its understanding and expertise in processes brings immense worth to automation. This contributes to designing the automated resolution of processes utilizing the best course of excellence with a powerful basis established to begin the automation.
The viewers was in a position to take house key facets on EY Automation Life Cycle and the way utilizing frameworks and main practices may generate accelerated success in automation. Additional, steerage was supplied on the place greatest to make use of RPA and the kinds of applied sciences which will also be used for automation. EY groups elaborated how utilizing its Automation Life Cycle Framework as a key resolution may assist rework monetary companies in direction of an automation-led enterprise.
For additional particulars on future webinars, please attain out to Hiranthi Fonseka by way of [email protected]