Ask yourself this question: Is there a reporting process that you know that should be automated that hasn’t been? A reporting process that requires multiple staff members and several hours to complete when you feel that time could be spent more productive on something else? Almost invariably the answer is yes. Whether it is a manual lookup of details, consolidation of multiple graphs, PDF and Excel files, or some other trite, time-consuming task, Untrite have developed solutions to automate those types of tasks in seconds.
Automation solutions to these everyday tasks can yield a significant return on investment. They are easily implementable and do not disturb other workflow processes. The FTE savings can allow employees to complete more meaningful tasks without being dragged down by time-consuming responsibilities.
Imagine this scenario: two members of your asset management staff are stuck retrieving data from one or more applications, possibly even liaising with different divisions at different time zones and locations, importing it all into Excel to run previously run macros, modifying the data, pivoting or charting the data, and then sending the final report off to respective stockholders. Let’s conservatively assume these two FTEs dedicate 20 hours per week to their reporting tasks. For these two account executives, time spent compiling reports means time spent away from spotting new business opportunities.
Assuming a £60,000 compensation package for each account exec, 20%-25% of their time – equivalent to up to £15,000 each – is spent manually compiling reports. Suppose each account exec no longer had to spend 10 hours per week handling manual report compilation because those reports were simply automated through the use of SQL, SSRS, and/or SSIS (and we all know how painful Macros are with tendency to crash the entire program. Now think about solution which would save you these with a £30,000 per year value associated with it (not counting all the positive psychological effects your employees receive by not having to do repetitive, unfulfilling job). Benefits don’t end here. Since those lenders get 20 hours each week back, they can spend more time spotting more business opportunities – by growing a portfolio of investments and prospects and building mutually beneficial relationships that are valuable for clients and for that company.
All told, automating the reporting processes for these two lenders yielded £30,000 in time savings associated with spending 25% of their time on the now automated process and an additional virtually uncapped returns on growing company’s portfolio.
The value of automating reporting processes is substantial, since processes like the one we described above are everywhere. Truly understanding how data is being reported throughout your organisation can potentially yield hundreds of thousands of pounds in time savings and organic value derived from those savings. This is one of the major reasons Untrite encourages all financial institutions to look into Untrite’s automation solutions. We developed mapping tools that help exploring the reporting environment at your organisation and identify the many ways we can help save your company time and money.
Automating reporting processes are a key opportunity for your organisation to yield a tremendous ROI for your business intelligence initiatives.
Benefits of Robotic Process Automation
Our automation software produce results with a single click in real time. Specific process logs are provided at the relevant points.
Less training, better skilled employees
Forget about macros
Less processing, more progressing
Triggering automated processes from system events dramatically improves prep stage productivity and allows your employees to focus on strategic tasks.
Leveraging RPA is the obvious next big step in markets around the globe. It is already being implemented on a broad range of industries. High growth companies start eliminating outsourcing by going from offshore to onshore, optimising costs, delivering higher quality, regaining control over processes and freeing up their resources.
This translates into quick, increased value in terms of product and services for customers, but ultimately, allows for new business visions to arise in crowded marketplaces.
Wondering which of yours business operations could be automated?
We design, build and implement the next wave of intelligent automation. Untrite sets the pace for the industry with the RPA technologies and unique assistance, perfectly calibrated for any of your organisation’s stages of maturity. Constantly extending our capabilities, Untrite helps you achieve even better degrees of business growth via improved quality, productivity and agility.