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RPA and its Impact Across Industries

Implementing Automation and Process Simplification has been key concerns for businesses for the last 2 decades, alongside effective utilization of resources for better output and value addition is another point enterprises eye on.

RPA is ideal for tasks that are repetitive and relatively structured in nature. However, in-coming times, with the advancement of technology, RPA will be poised to take more challenging, analytical and important tasks.

RPA has been a point of discussion for a long time and now many top enterprises are ripping the benefits of it. If reports are to be believed then more than 80% of large scale companies will deploy RPA in the next 5 years.

RPA and its Impact

Profit maximization and Productivity gain are always on the radar of businesses. RPA is rightly fit software for these aims. Many companies have implemented it on a smaller scale and grown on to increase it scope multifold. Sectors like BFSI, Insurance, Healthcare, and Manufacturing are ripping the best benefits of RPA.

In this blog, we look at how RPA is helping these Sectors and benefits that derive.

BFSI

BFSI and in particular Banking involves a lot of repetitive manual activities, and if a small mistake happens due to manual error, the repercussions are huge. Deployment of RPA integrated with AI has actually reduced this burden from the BFSI sector. RPA can provide better customer service and respond like a human employee in lesser time. RPA improves the quality of the compliance process and increases productivity with 24/7 working.

Offshore/Outsourcing

Well, the sector which best benefited was BPO’s If there’s one area of business disrupted by robotic process automation (RPA), it’s outsourcing. RPA is itself a type of outsourcing, but instead of outsourcing to a human being in another country, you’re outsourcing work to a software robot. It provides better accuracy than humans, faster turnouts, reduced errors and most importantly consistent support of 24/7 operations.

Insurance

Insurance companies are immersed in back-office forms as most of the documentation process is still paper-based. RPA is analyzing these vast volumes of data and translate them into insights to work on it. Automation is increasing efficiency by adding significant value to enterprise processes. Numerous insurance agencies are focusing on automation to streamline their business procedures and attend new customers. RPA brings in almost processing time to 10%

Healthcare

Healthcare was using outdated systems that were making healthcare workers to constantly work on repetitive tasks, With RPA these systems are being advanced helping the process to run faster. For example, many healthcare companies struggle to verify health insurance eligibility for potential customers due to highly manual processes. With RPA, the medical supply distributors can verify thousands of patients’ insurance eligibility daily while saving time and cost.

Retail

RPA has become one of the best ways of improving service delivery in the retail sector. Operations like taxation, auditing, or HR are some of the areas where RPA is best suited. One of the challenges for retail stores is the back office file report. Reports from hundreds of stores, gathered together to validate the cash register. These reports are now recorded in individual file transfer protocol server with the help of RPA.

Automotive Manufacturing

With RPA, the auto companies shifted gears. They were able to automate crucial back-office processes, and also identify and improve deficiencies within operations. RPA helped to improve real-time monitoring, production capacity, inventory controls in the auto sector. By automating emails, procurement processes, as well as the digitization of paperwork, the companies are now able to attain better control and ensure optimum levels of skills employment.

Benefits of Robotic Process Automation

Increased productivity, better quality work, and stronger market position are some of the top benefits besides cost savings. Relatively inexpensive and disruption free-solution allows companies to take advantage of RPA solutions quickly. Also, companies are trying firsthand to ensure that their RPA investments offer benefits beyond cost savings.

Want to know more about how RPA can benefit your enterprise?
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SAP S/4 HANA is Really Costly – the Myth

The price of SAP HANA has always been a topic of concern ever since its inception. Many Enterprises end up thinking if they can afford it In this blog we discuss on a myth about the cost associated with Sap HANA.
Many businesses take a stand instead of migration to SAP HANA they prefer to run on existing platform an update as per the need. Even after understanding the advantages it offers. This is main reason why companies refrain from this migration.
Businesses end up worrying about cost of implementation and acquisition. Cost attached to purchasing of new hardware, systems and licenses and so on. And end up zeroing on thought SAP HANA is costly as compared other platforms.

Reality: It can be way cheaper the imagined

Reality is if thought on short term cost, migration to SAP HANA generally involves higher costs than other database platforms. In-memory technology costly than conventional one yet requires disk drives or flash memory for backup.
But accepting fact that this is a better method of data storage and reduces data footprint, this usually will not immediately compensate for the additional expenses.

However, these high end cost can be avoided, businesses can transfer their SAP HANA systems to a cloud service provider. Some hardware upgradation still required for this method, but it does enable enterprises to start small and grow in line with actual demand.

Migration to cloud also eliminates resource requirement of admins, as the cloud provider administers the systems. With this option, there is no need to invest time and resources into additional training for SAP HANA.
In terms ROI, SAP HANA offers huge potential for saving on long run basis.

SAP HANA enables businesses to consolidate data in single system. This minimizes hardware and software costs and also increases efficiency.

SAP HANA – an investment to look at long-Term

While discussing all this, it pertinent to consider opportunities and solutions that SAP HANA offers.
For example,

    • SAP HANA helps to reduce expenses and increase valves with its real time functionalities.
    • Capabilities such as predictive maintenance, and innovative business models, help enterprises to generate additional revenue streams. I
    • Future application from SAP will always be based on the in-memory platform, putting the enterprises that use it in a better position to capitalize on new developments.

Thinking positively about migration to SAP HANA, Get in touch with our team, We will make it happen faster and with cost-effective manner

Evolution of RPA (Past and Future)

With Mckinsey’s marking Robotic Process Automation(RPA) as the next big thing in the market with expected potential economic growth of nearly $6.7 trillion by 2025, Every enterprise is looking at it in very positive manner. Given the stats its very obvious that the growth of RPA is taking great shape with the potential to free up large numbers of FTEs to take more challenging and proactive management positions.

RPA technology also has the potential to revolutionize the way we work – particularly for professionals in areas such as payroll, O2C, P2P etc. Having said that, there are also great amount speculations connected to RPA and its future. To understand the same let’s look at its history and evaluation, where exactly we stand in present.

History

By bringing in many technologies in one roof – RPA is an umbrella toolkit to be used for tasks that can be automated or are repetitive in nature. Going back to history, this innovation came out from the term ‘Machine Learning’ coined in 1959 which aimed at creating Artificial Intelligence at that time. Further to this as development progressed to workflow automation and furthermore to RPA

Need for RPA
RPA was developed to its current status basically for two main reasons

A solution for BPO automation –BPOs need to consistently deliver annual saving to its customers and reduce costs, RPA served as boon to them and BPOs were 1st ones to implement the same

Web or Screen Scrapping – In the 90s data extraction was one of the most repetitive manual tasks and Screen Scraping Softwares (early stage of RPA) were created to extract data. Soon multiple sectors such as logistics, financial services, etc started using Screen scrapping widely.

Present Day of RPA

From its diverse beginning, today RPA continues to grow multifold in the large range of applications. RPA is emerging technology today but is already driving automation, globally.

It is best at automating repetitive tasks like matching, aggregating updating, capturing task which are rapidly shifting to RPA from humans. RPA is now spreading its boundaries and with proper integration, with ML and AI it can perform the intelligent and analytical tasks that were totally human dependent earlier.

Future of RPA

As more and more enterprises are becoming aware of RPA, its benefits, and moving on to implement it. RPA is no more multinational enterprise’s game. Many Mid or small businesses are also moving to RPA.

With variety business sectors and industries looking positively toward its implementation, RPA is set to play significant role in sectors like BFSI, Insurance, Manufacturing, Oil and Gas etc. While many organisations are exprimenting RPA will soon be seen being used in integration with many other workflow related to tools.

Thinking of RPA, Think of Crafsol,

Crafsol’s Robotic Process Automation Services are designed to enable enterprises integrate RPA with technologies like artificial intelligence, machine learning, and knowledge based systems to drive enterprise-wide transformation. Get touch with our experts if you are thinking of RPA implementation.

SAP HANA Migration is Risky?

Implementing a new technology can be a challenging task and many CEO, CIO or Decision Makers believe SAP HANA migration to be a complex task with potential for risks. In this blog we take look at the process and realities to clear up this misconception.

Does SAP HANA Migration Turns Businesses Upside Down?

Complex, Time-consuming, A total relearning and a disruptive upgrade, these are some common thoughts that come into the minds of people when they think of SAP HANA implementation.
Perhaps, this thought is not totally untrue due to the scale of the project, and often involves fundamental changes to the company’s IT architecture. Proper planning is required Testing has to be in place.
Processes will have to be altered or re-engineered and yes, users will need additional training to get the grip of new technology. Application migration requires systems to upgraded to withstand the change.
Moreover, if businesses want to reap the benefits of SAP S/4HANA, they will first have to undergo even more process changes. But is there a way to reduce this disruption?

The answer is Yes, It Involves Less Risk and Effort than You Think

With some of the advanced features that SAP SANA offers several options for assistance and looking at the technical side, SAP HANA migration is actually relatively easy.

SAP with its numerous partners offers various sets of best practices to help make SAP HANA implementation run smoothly. Alongside, there are standardized approaches make server migration easy.

Depending on the business models, in many cases, database migration and system upgrades can be implemented in a singular step. This simplifies migration and reduces downtime thereby implementation taking place with minimal reduced disruption.
While saying this, SAP Migration is a significant change to the business. A proper plan has to be prepared for smooth transit. SAP Intelligence has prepared a collection of standardized workshops to help businesses choose the best approach for migration and create a schedule for the project.
A strategic plan for SAP HANA migration goes a long way toward preventing disruption. IF an Organisation wants a smooth shift to SAP HANA than proper approaches are developed to implementation.

Crafsol – your switch support

SAP HANA migration is a major switch that involves a lot of commitment. But there are a variety of options that can help enterprises along the way. Crafsol has helped many companies migrate to SAP HANA or SAP S/4 SANA like Pharma, Chemical, Manufacturing and many more. Get in touch with our experts to know more.

SAP HANA for Data Analytics

As the boom for Digital Transformation, AI & IoT is growing Multifold, so is the need of effective extraction of meaningful insights. What is clear is that data science is solving problems. Data is everywhere, and the uses we are making out of it (science) are increasing and impacting. Let’s understand what Data Science is all about and how effectively SAP services can be used for the same.

What is Data Science?

Data Science is an interdisciplinary field about processes and systems that enable the extraction of knowledge or insights from data. Data Science employs techniques and theories drawn from a wide range of disciplines such as Information Science, Statistical Learning, Machine Learning etc to build insightful result, trends and aid discussion making.

There are different Data Science solutions available from SAP, let’s take a look at SAP HANA in this blog.

SAP HANA

HANA is the most trusted Predictive Application and performs in-memory data mining and statistical calculations which generate large datasets in quick time for real-time analytics.

In-Memory Database

HANA allows data analysts to query large volumes of data in real-time. HANA’s in-memory database infrastructure frees analysts from having to load or write-back data. HANA’s columnar-based data store is ACID-compliant and supports industry standards such as structured query language (SQL) and multi-dimensional expressions (MDX).

Rage of Algorithms

With wide range of algorithms that are available in HANA to do various Analysis like Association, Classification, Regression, Cluster, Time Series, Probability Distribution, Outlier Detection, Link Prediction, Data Preparation and Statistic Functions, SAP HANA offers to identify unforeseen opportunities, better understand customers, and uncover hidden risks.

Real-time Analytics

HANA also includes a programming component that allows a company’s IT department to create and run customized application programs on top of HANA, as well as a suite of predictive, spatial and text analytics libraries across multiple data sources. Because HANA can run in parallel to a source SAP ERP application, analysts can access real-time operational and transactional data and not have to wait for a daily or weekly report to run. You can integrate R with SAP HANA and standalone.

In our further blogs, we will high-light other capabilities of SAP HANA for your businesses

Take decisions in foresight!

You can’t see the future.
But, with the right technology Partner, you can predict it.

Crafsol’s Analytics solution helps in early fraud detection

Using advanced predictive analytics Crafsol helped to identify and alert on fraudulent patterns in transactions for a leading financial institution. The solution has wide applications in BFSI, Stock Exchange, Retail, Insurance and manufacturing. The benefits included savings in millions of dollars, better reputation, reduced risks and process compliance.

Want to predict the risks in your business?
Partner with Crafsol!