The end-of-year challenge for the industry: How do we keep our employees motivated?

In an ever-changing economic landscape, starting from November 2023, IT companies are facing challenges related to tax modifications: the elimination of tax exemption on incomes exceeding 10,000 lei gross and the optional contribution to the second-pillar pensions, which has become optional for the period 2024-2028.

This has a significant impact on the IT industry, where approximately 80% of employees surpass the tax-exempt salary threshold, according to the data provided by the National Association of Software and Services Companies (ANIS). Moreover, the average net income in the IT industry was 10,419 RON in August 2023, as reported by the National Institute of Statistics.

With these measures in place, companies must discover new ways to retain their current employees while also attracting young talents.

Concerning Connections, where a significant number of employees are directly affected by the new tax regulations, the company has decided to absorb the additional salary costs, ensuring that the net incomes of team members are not negatively affected.

“We are aware that these changes can significantly impact our colleagues’ incomes. Therefore, to ensure that our team remains motivated, we have decided to shoulder the additional costs generated by these new tax provisions. We will cover the tax difference for our employees by adjusting gross salaries, and this step represents a firm commitment by our company towards our employees’ financial stability and, most importantly, providing a predictable work environment. At present, a significant percentage of our colleagues benefit from this measure that we have implemented internally. Regarding the optional contribution to the second-pillar pensions, this, too, will be compensated by the company,” stated Radu Marcu, co-CEO of Connections.

Meanwhile, some IT companies resort to restructuring and workforce adaptations to cope with the new economic conditions, as indicated by the BestJobs recruitment platform.

“Professionals in this field are very attentive to the benefits offered by employers. In light of the new tax measures, we believe that our proactive approach in compensating for the additional costs will play a crucial role in retaining and attracting top talents. Through this initiative, we aim to convey a clear message: our commitment and the well-being of our employees are our priorities, and investing in people is essential for long-term success.” added Radu Marcu.

The company currently employs over 350 individuals and has recently opened 10 new positions, all holding key roles with a high specialization in the field of technological competencies.

The job openings in recruitment can be found here.

Meet our Connectors. George Radu, The MultiTasker

George Radu. The MultiTasker

In any room, there’s a person who stands up first to answer the door when someone knocks. In our case, that’s George, a tech enthusiast and the jack-of-all-trades. ‘Every digitalization project I work on is a personal challenge. If you want to grow, then step out of your comfort zone,’ he says. George’s story, the one who spontaneously raises his hand to the toughest challenges, can be read below.

Who is George Radu?

A technology enthusiast, whose story began with his first visit to an Internet café 😊 (an explanation for tech natives: long ago, in the ’90s, internet access was only possible this way). Since then, some years have passed, and his passion for technology has become a full-time job alongside the Connections team.

In the approximately 15 years of working in the IT field, he has done and been through a lot, from being a Community Manager in the gaming industry, to an Account Manager for antispam solutions for web hosting companies, to an Enterprise Account Manager for chatbot solutions, and eventually a Business Development Manager for Connections. The IT industry solutions and services he has interacted with throughout his career have helped him develop technology consulting skills that he uses today in interactions with Connections’ clients and partners.

‘I am fascinated by everything related to technology, from software development to exploring the cosmic space. I keep up with every significant technological progress and discovery; I subscribe to numerous technology news sources and magazines, dedicating a considerable part of my time to it.’ says George.

Since when Connector@CC?

I joined Connections Consult in October 2020 for two significant reasons. The first reason was my resonance with George Nita, who at that time held the position of RPA Manager at Connections Consult. I was drawn to his expertise and his unconventional and innovative approach in the field of business process automation.

The second major reason was my meeting with Bogdan, the founder and CEO of Connections. I was impressed by his ‘western’ thinking and his growth-oriented vision. Although we’re talking about an industry where innovation is a driving force, it’s rare to find a CEO in Romania who adopts such a progressive vision and is so open to innovation—those who have explored the field know what I mean.

Why did I continue to stay in this team?

Because we all approach technology similarly: we view digitalization as a powerful tool that can free people from monotonous and repetitive work, and has the ability to pave the way for mental and creative energies to generate greater value, elevating things to a new level. Technology can create a virtuous cycle that brings concrete value into our lives as individuals and professionals.

What do you specifically do at Connections?

I handle Business Development, or more specifically, my role is to aid in the company’s business growth, both by identifying new opportunities locally and internationally, and by maintaining and developing existing partnerships. In other words, when I’m not already in meetings with the company’s clients, I strive to find new business strategies to attract new clients for the projects in their initial stages. And for this, I benefit from working closely with multidisciplinary teams within Connections, ranging from project managers, marketing, development, legal, to top management.

This multi-disciplinary perspective offers me unique opportunities and aligns well with my personality. I’m constantly passionate about new things, innovative tools that make our work easier, and discussions with colleagues from various departments challenge me to discover new ways in which I can help the organization work better and more efficiently. I strongly believe, and I have practically validated, that professional and personal development opportunities arise from situations that are less comfortable. Those situations make you know your limits, push past them, and explore further.

3 essential impacts of technology in your life.

Communication: For me, one of the crucial aspects is communication. Technology has created numerous channels through which I can converse with clients, collaborators, and colleagues. Whether it’s during work hours or leisure time, there’s always an application that makes communication easier and more efficient for me, changing the way I interact with the world around me—for the better, as it no longer matters where I am, I can stay connected. 🙂

Utility: I mention it as second, but it’s equally important. For 90% of my activities, whether work-related or in my free time, I find an application or a technological solution that makes my respective activities more efficient. You feel more in control and relaxed when you know you can manage almost anything with ease and speed.

Access to data and facilitating learning: Someone once said that if you were to show a smartphone to a person from the 1800s, they’d likely consider it a magical object. The idea of being able to access practically any information in just a few seconds seems truly remarkable to me. Technology has brought us into a ‘vast ocean of information,’ providing an invaluable resource for learning—and the effects are visible and will continue to be seen in all areas that involve continuous learning, research, and access to global experiences.

If the IT industry were to organize a global roundtable discussion, what would be the top subject on which they should agree?

In my opinion, the IT industry is at a crossroads similar to the situation faced by scientists who developed the nuclear bomb. Today, the major challenge in the IT world is the development of General Artificial Intelligence (AGI), which can have a significant impact on how we live.

The key decision that needs to be made is whether research on AGI should continue at the current accelerated pace or if certain limits and restrictions are necessary in this field so that each step in AGI development consistently aims to protect human interests and undergoes an ethical filter to prevent it from becoming a threat to society.

Binary code reflections: If digitization were a character, what would it look like?

I don’t think I could categorize digitization into a specific character type. I see technology more as a revolution, much like the industrial revolution in the early 19th century or the WWW revolution that essentially changed society from individual lifestyles to how the global economy functions.

This new revolution comes armed with machine learning algorithms and artificial intelligence, which we will use to anticipate human needs and provide solutions to complex problems we face in the 21st century. Essentially, digitization will cause a pivot in all structures of modern society to make the world more efficient, smarter, and help us evolve towards a better future.

Message to a beginner tech enthusiast: What would you say?

The IT industry is extremely dynamic, with a vast array of technologies emerging and evolving constantly. This dynamism is reflected in the fact that IT has been rapidly adopted in all other industries. A simple message for a beginner in IT would be: ‘Stay curious and embrace new challenges; every line of code can shape the world we live in! ‘ 😊

Romania, among the top countries that hire women with degrees in Information Technology and Communications (ITC)

The importance of ITC studies for finding the best job possible is determined by the increasingly prominent role of technology in almost all aspects of our lives. 

Although the latest statistics show that, at the European level, men with ITC degrees are overwhelmingly employed compared to women, Romania is among the top countries hiring women with degrees in this field. 

This is a topic that companies should take into consideration as a self-assessment milestone, and it’s equally important for young individuals who are just starting or at intermediate stages of their careers. Whether it’s a technical role, such as programming, or a more strategic role, like IT management, ITC knowledge and skills are in demand in various industries and represent an asset for career prospects. 

Growing Demand for Individuals with IT Education 

According to statistics provided by Eurostat, in 2022, there were 3.0 million people employed with IT education in the European Union, which is 6.7% more than in 2021 (2.8 million). 

This indicates that an increasing number of individuals understand the importance of keeping pace with technological advancements and are inclined towards acquiring knowledge in this direction and subsequently finding employment in this sector, as evidenced by the overall growth rate of IT employees. Thus, the percentage of IT employees in the EU increased by 11.5% in 2022. The number of active male professionals in this field is 2.5 million, which is 7.1% higher than in 2021, while the number of women employed in this sector has grown by 4.4%, reaching 463,100 individuals. 

Regarding EU member states, Slovenia (93.0%), Latvia (91.0%), Poland (90.3%), the Czech Republic (89.9%), Belgium (88.7%), and Slovakia (88.5%) had the highest proportions of male employees with IT education. 

At the top of the list of countries with the highest number of women employed with IT education are Bulgaria (31.5%) and Denmark (31.3%), with nearly equal proportions, followed closely by Cyprus (30.2%) and, with a slight difference, Romania (29.9%). 

The Snowball Effect 

The percentage gap generates reluctance among women when it comes to taking on such roles. According to the “Women in Tech” report, conducted in 2021 by the global cybersecurity company Kaspersky, over a third of women working in the IT and technology industry worldwide believe that the absence of women in their sector has made them cautious about entering the profession. 

Fortunately, statistics seem to be improving year by year, and gender perceptions are also changing for the better. Kaspersky also conducted a new report, which revealed that 56% of women working in IT globally agree that there are now more women in 

IT and technology roles in their organization than two years ago. Additionally, 7 out of 10 female respondents who participated in the study believe that their skills and experience are more important to employers than their gender. 

In the end, we shift our attention to our own organization and are pleased to observe that professionalism disregards gender: in 2023, 46,5% of the Connections team is comprised of women, while in the management teams, the percentage rises to 55,6%. 

 

Connections Consult HQ relocation. A big move for bigger achievements

We are pleased to announce that our company’s headquarters has moved to the address below: 

Connections Consult S.A. 

New Address: 71 Buzesti Street, 7th-8nd Floor, 1st District, Bucharest, Romania 

Telephone switchboard: 0372 368 332  

Google Maps: https://maps.app.goo.gl/cgFAnTUbSBA71c4v8  

This will be our new home from where we will continue to grow the team “Transforming Business. Digitally.” 

Why a new headquarters? 

As Connections Consult continues to grow, we are excited to be able to expand our workspace with a better place for our employees by increasing the number of meeting rooms and open workspaces. As our team continues to grow, we need more space to accommodate everyone. 

From startup to listed company: how we transformed

During technological excitement, we celebrate two years since we entered the stage of the Bucharest Stock Exchange and entered a phase of business maturity, following years of construction and skills training. We look back with joy and pride at our beginnings when we started with an ambitious vision: to bring digital technology closer to as many people as possible. I invite you on a brief journey together through our past, present, and future.

Navigating through transformation

In 2005, we laid the foundations for Connections, firmly believing that we could make significant changes in the IT landscape in Romania and beyond its borders. We underwent a continuous development process, and in our 18 years of existence, we built our own products and expanded our service portfolio to include intelligent automation, IT infrastructure support, digital process management capabilities, and customized software development. In 2010, we took our first steps towards international expansion, establishing a strong presence not only in Romania but also in the markets of Bulgaria and Serbia, with sales offices in the United States, the United Kingdom, and Germany. We became a Gold Partner of UiPath and an Aurachain Partner to enhance our capacity to deliver complex digital transformation projects. We evolved by gaining significant clients, and the main sectors in which the company operates include FMCG, Finance, Manufacturing, Health, Logistics and Distribution, and the public sector. Thus, we contribute to the development of the digital economy through various types of projects, both private and public, ensuring a balanced business outlook for today and the years to come.

Listing on the Stock Exchange – a significant moment

A significant moment in our history was our listing on the Bucharest Stock Exchange (BVB) in September 2021 under the symbol CC. This move represented not only a recognition of Connections’ performance and potential but also a strong commitment to transparency and continuous development. In March 2022, shortly after listing, Connections became part of the BET AeRO index. We expanded our team of specialists by 30%, and the number of our shareholders doubled from the time of listing, reaching over 400 at present.

In the first two years since our debut on the capital market under the CC symbol, our teams have proven that technology has the power to simplify the daily lives of people and companies, wherever we are and whenever we want to connect with processes, colleagues, and organizations.

The company’s financial performance has been a consistent factor in our journey, with solid results. Recent reports for the first half of the year show a turnover of 40.9 million lei, with revenues up 62% compared to the same period in 2022. We estimate that we will close the year with revenues exceeding 100 million lei. Net profit for the first half of 2023 recorded a 273% increase, reaching 3.6 million lei.

We entered the AeRO market with confidence and determination, and from an ambitious startup dreaming of bringing innovation to the IT landscape, we have become a presence with increased leadership and relevance in the industry. Today, at Connections’ “coming of age,” we have spent the first 2 years on the stock exchange, quickly becoming part of the BET AeRO index, which has facilitated our access to increasingly complex projects, accelerated our financial results, and achieved a higher employee retention rate than the IT industry average.

Our journey so far represents a great deal of growth effort, but the direction is clear for the future: we remain true to the promise of creating value for our shareholders and contributing significantly to the digital transformation of Romania and the markets in which our teams operate.

We appreciate the confidence with which you invest in #ConnectionsTeam!

Connections Group increases its net profit by 273% in the first half of 2023 and passes 40 million lei turnover

Connections Consult (CC), a digital transformation company listed on the BVB-market AeRo, increased its net profit by 273% in the first half of this year, reaching 3.6 million lei, (37% above budgeted figures), while turnover increased by 62% compared to the same period in 2022, reaching 40.9 million lei. The results include the activity of all companies in which Connections has control, and the largest contribution to growth was made by Software Development services in the first half of this year. 

In 2023, the company’s activity was largely focused on winning new customers and high-profile contracts, i.e. strengthening corporate governance and carrying out the 1:10 bonus share capital increase, completed in August. The company’s development strategy focused both on short-term results and on consolidating its position as a market leader in complex digitalization projects in the medium and long term.

 “Connections achieved a number of notable improvements in the first half. We have strengthened our competencies in bidding and delivering complex projects for public institutions; we are continuously developing our corporate governance towards budget discipline and predictability; we are emphasizing assessment processes and career plans for our internal team, and our portfolio is diversified (public-private; software-infrastructure-business process management-technology integration). We have solid foundations and a business construction able to cope with potential imbalances and contractions due to external factors, so that we can bring further benefits to our shareholders and employees, and all these successes are reflected in the figures obtained”, says Bogdan Florea, Connections co-CEO.

During the reporting period, the company’s gross profit showed a significant favorable variance (46%) compared to the estimate, both due to higher-than-expected revenues (unbudgeted projects) and cost savings. Compared to the same period in 2022, however, the evolution was remarkable, up 216%, on the back of growth in activity overall and in the Software sector in particular.

“2022 was a key year in which Connections continued the major commitments made at the end of 2021 in the Software Development service line and won a number of significant projects in this area, the benefits of which partially materialized at the end of 2022 and continued to be realized in the first 6 months of 2023. Commitments involved careful preparation of capacity to deliver new projects by engaging highly skilled resources. As a result, the gross margin of the whole group improved in H1 2023 both compared to the same period last year and compared to what we had originally estimated for the current year. Attracting highly qualified staff is an ongoing concern and is already making a difference”, says Radu Marcu, Connections co-CEO.

Semester 2 perspectives

The company expects the second half of 2023 to continue to deliver earnings growth, at least in line with the management team’s original budgeted estimates.

Connections has recently signed 2 new contracts with significant financial relevance. The first, signed in August 2023, is worth 26 million lei, with an expected gross margin of 8%, and is with a public institution in Romania. The contract provides for the design and implementation of a hardware and software infrastructure for the management system of the Romanian justice system.

The second recent contract, dated September 2023, amounts to 56.48 million lei, with an expected gross margin of 4%, and the beneficiary is a public institution/government agency in Romania. The contract involves the delivery and implementation of a cyber security infrastructure – hardware and software elements.

The Connections Group expects the second half of this year to continue the upward curve in terms of results and the focus of the operational team is to ensure a high standard of delivery.

More information about the results of the first half of the year can be found here.

Connections Consult exceeded financial estimates for 2022. Consolidated revenues of 58,46 million lei in 2022 and a gross profit of 5,11 million lei

Bucharest, March 27, 2023 – Connections Consult (CC), a group of digital transformation companies, listed on the AeRO Market of the Bucharest Stock Exchange, reported consolidated revenues of 58,46 million lei in 2022 and a gross profit of 5,11 million lei, with an increase of 48% compared to 2021.

In the reporting period, Connections recorded a 29% increase in revenues compared to last year on the back of new projects carried out within the lines of software and RPA services, as well as the increase in the volume of software consulting and outsourcing services offered within Outsourcing Support Services SRL and Brusch Services SRL.

Gross profit increased by 48% compared to 2021, and also during this period, the technology verticals saw a consolidation of the contribution to the total revenues of the group.
In this regard, the line of software development services (“software development”) reached a 36% revenue contribution rate, and hyperautomation services (RPA) represent, at the end of 2022, 6% of total revenues.

Furthermore, the Group exceeded the financial estimates for 2022, mentioned in the memorandum from the private placement and in the one from the technical listing of September 2021, both in terms of revenues (18% increase compared to estimates), but also gross profit (an increase of 20,31% against estimates).

Connections delivered on its commitment to its stakeholders and continued to invest resources in developing high-potential service lines to maximize the Group’s net asset value.

“In an extremely volatile market context, internationally and locally, with many uncertainties and difficult to manage: the war in Ukraine, inflation, the potential food crisis, the energy crisis and that of the supply chains, therefore, in a landscape complex, we maintain our energy, perseverance, and positive estimates for 2023. The financial information presented in the Report aligns with the strategy announced by Connections regarding the development of the business and is proof of the ability and commitment to increasing the value of its assets”, said Radu Marcu, co- CEO Connections Consult.

At the date of publication of the current financial report for 2022, Connections has already included on the agenda of the General Shareholders’ Meeting of 24.04.2023 the voting of the Employee Stock Options (ESOP) program and the distribution of dividends related to the group’s profit obtained in 2021. The founder and majority shareholder, Bogdan Florea, will not be part of the ESOP program.

“The year 2022 meant for Connections Consult the continuation of strengthening the financial position in the Balance Sheet. The company recorded an increase in the value of assets easily convertible into cash, as shown by the comparative balance sheet 2021 versus 2022. The increase in current assets is mainly due to the increase in the balance of receivables on December 31, 2022 compared to 2021, correlated with a decrease in the balance of cash. This is due to the use of cash for business growth”, stated Bogdan Florea, co-CEO of Connections Consult.

At the end of 2022, the issuer recorded a balance of Current Assets in the amount of 22.009.821 lei, 11,25% more than on 31.12.2021, of which 4,5 million lei represented cash availability.

According to the budget for 2022, Connections proposes a consolidated turnover of 83 million lei and an EBITDA of 7,75 million lei. These estimates include the results generated by all the group companies in which Connections Consult S.A. owns more than 51%, including Brusch Services – the company acquired by the Group in 2021.

“The group’s exceptional results, reflected in the indicators mentioned above, are the effect of the perseverance, creativity, and energy demonstrated by the Connections team, to whom we thank for a remarkable 2022! We thank our investors who showed patience, trust and moral support through their open attitude and honest approach in relation to the company!”, added Bogdan Florea, co-CEO of Connections Consult.

differences between RPA, macros, and scripting

What’s the difference between RPA, macros, and scripting?

differences between RPA, macros, and scripting

Since technology began to be more present in everyday work environments, one question that we are sure you have heard at least a few times is, “Should I deploy a robot for this task?”. As for many jobs, it is true that a macro might work perfectly. However, a robot is required to complete more difficult jobs or even automate using RPA or those macros. 

In short, RPA bots are collections of software interactions that are organized according to business processes, designed to follow business logic, and executed automatically. Even though most users are familiar with macros and scripts in programming,  automation is not exactly new. What exactly differentiates Robotic Process Automation from classic ”automation”? Our team of tech specialists from Connections Consult shared their insights. 

RPA vs. Macros

A macro can be quite useful if your task entails repeating a code action, such as changing certain texts into something else. One of the most often used tools in the sector is Microsoft Excel. It is commonly utilized regardless of the employment role and type of work. Macro automation is a simpler and quicker approach to RPA. It uses macros, small programs that automate repetitive tasks, to automate processes. Macros are usually created using macro recording software that records keystrokes, mouse movements, and other actions performed on a computer and saves them as a macro. This approach is best suited for simple, repetitive tasks that can be automated with basic programming skills

The same is done by an RPA robot, but with greater adaptability and elevation. Unlike macros, which can only interface with a single program at a time at the object layer, RPA can engage with numerous apps simultaneously. RPA is more dynamic than macros, which are fixed and linear. 

RPA vs. Scripting 

Moving on to scripting, they are actually a more sophisticated approach to RPA that requires a higher level of technical expertise. Scripting involves writing code in a programming language such as Python, Java, or .NET to automate processes. This approach is best suited for more complex processes that require advanced functionality, such as data processing, data analysis, and process integration.

However, RPA is quite strong in terms of workflow capabilities and adhering to established business norms. With scripting programming, you lack this ability. Almost any application can be performed or set up with RPA. In the world of scripting, this is not the case. Scripting also allows for the integration of RPA with other technologies, such as Artificial Intelligence (AI) and machine learning, making it a better choice for complex processes.

Another significant distinction is that RPA is a self-governing process. An RPA robot can communicate with various applications instead of needing various scripting tools to create scripts for your various applications. Practically any application, as well as multiple applications at once, can use it. RPA makes it possible for users to interact with any form of application. Rerunning scripts might work for one or two types, but things become quite challenging when additional functionalities are introduced. 

RPA vs. AI

Finally, artificial intelligence. This is a huge topic. Robotic Process Automation (RPA) and Artificial Intelligence (AI) are two popular technologies in the field of automation. Both technologies are designed to automate repetitive and routine tasks, but they differ in their approach and capabilities. While RPA and AI are both designed to automate tasks, they complement each other and can be used together to achieve more advanced automation. RPA can handle simple, repetitive tasks while AI can handle more complex processes that require decision-making and problem-solving. Integrating AI with RPA can create a more sophisticated automation solution that can handle both simple and complex processes.

So, RPA cannot be regarded as clever on its own. AI bots are intelligent bots, whereas RPA bots are well-mannered bots. AI is data-driven, whereas RPA is heavily process-driven.

 

Will an automation robot help achieve workstyle reform?

We have yet to see how much RPA will contribute to productivity, though it is very likely to see an increase in overall motivation levels. In the past, younger workers with little to no experience were frequently assigned easy, repetitive duties. Numerous instances exist when motivated workers become demotivated after being given positions involving routine tasks.

By using RPA to complete this activity, it may be possible to address concerns with fading motivation levels. The level of motivation across the entire firm may increase if younger employees are more engaged at work. In the end, it increases productivity. RPA could potentially result in lower overtime pay. It can be used for straightforward monthly chores like work to reimburse staff for business expenditures.

 

If you need assistance to reduce excessively long work hours, allowing employees to maintain a work-life balance, don’t hesitate to contact Connections’ Consult consultancy team and let’s find the best solution to your company’s needs.

AI-machine-learning-digital-business-automation-consulting-company-connections-consult

The role of AI and ML in transforming banking operations

AI-machine-learning-digital-business-automation-consulting-company-connections-consult

When referring to the Banking and Finance Industry, we all can agree that this sector is constantly seeking ways to improve efficiency, reduce costs, and enhance the customer experience. Robotic Process Automation (RPA) has already significantly impacted banking processes by automating routine tasks and freeing employees to focus on more value-adding activities. However, with the integration of Artificial Intelligence (AI) and Machine Learning (ML), the capabilities of RPA in the Banking and Finance Industry are set to expand even further.

 

Suppose you are still wondering why automation software and AI have become essential for banks and financial companies. In that case, our team of tech specialists from Connections Consult compiled a list of the latest AI and machine learning trends and what banks have to do to keep up with the forever-changing marketplace. 

 

Why are RPA and Artificial Intelligence (AI) important for banks? 

Over 40% of all labor-intensive tasks in the world economy might be mechanized with the help of modern technology, according to McKinsey research. The banking sector, in particular, is expected to be one of the two industries spending the most on Artificial Intelligence solutions by 2024, according to IDC.

Financial services businesses can go from automating single operations to end-to-end processes by integrating automation solutions, like RPA, with AI technologies, such as machine learning, NLP, OCR, or computer vision.

 

The term “intelligent automation,” “cognitive automation,” or “hyperautomation” are often used to describe this combination. Various application cases and case studies of intelligent automation in the financial services sector will be examined in this study. One example of how a software robot may be programmed is to open an ERP system, access a particular transaction, and automatically extract the necessary data fields onto an Excel spreadsheet.

The use of robotics 

Artificial Intelligence and Machine Learning can bring new levels of intelligence and decision-making to RPA in the banking industry. For example, AI and ML can be used to automate complex processes such as fraud detection, customer service, and credit scoring. AI-powered RPA robots can analyze large amounts of data, identify patterns, and make decisions based on that data, without the need for human intervention.

In the area of customer service, AI-powered RPA robots can handle customer queries and complaints, providing quick and accurate responses. Consequently, the customer experience will improve, and employees will be motivated to focus on more complex tasks. AI and ML can also be used to automate the process of credit scoring, enabling banks to quickly assess the creditworthiness of potential borrowers. This can lead to faster loan approvals and a more efficient loan processing process.

 

Intelligent automation’s compliance use case aims to ensure that employees adhere to organizational regulations and procedures. Correct adherence to these regulations reduces the possibility of outsiders bringing legal action on the grounds that their rights were infringed upon or their property was harmed due to carelessness by employees engaged in work-related activities within a company’s premises. Enforcing rules automatically without the need for human intervention at every stage saves time, money, and resources while ensuring that everything is carried out in accordance with the rules established by regulatory agencies.

 

In conclusion, integrating AI and ML with RPA in the banking industry can revolutionize banks’ operations. AI and ML can bring new levels of intelligence and decision-making to RPA, enabling banks to automate complex processes, improve efficiency, and enhance the customer experience. As AI and ML continue to evolve, the role of RPA in the banking industry will continue to expand and play a critical role in shaping the future of banking. 

 

Interested in exploring your automation opportunities? Book a 30-minute no-obligation discovery session with us, and let’s find the right solution for your business.

outsourcing-it-software-development-start-up-global-business-consulting-company- connections-consult

Top 5 motive pentru care outsourcing-ul poate aduce beneficii companiei tale.

outsourcing-it-software-development-start-up-global-business-consulting-company- connections-consult

În contextul unei piețe extrem de competitive, transformarea digitală a companiilor nu a fost niciodată mai necesară. Astfel, cererea de externalizare a serviciilor de software și de automatizare a proceselor este în creștere. Probabil că sunteți familiarizat cu beneficiile și compromisurile generale asociate pe scară largă cu outsourcing-ul, dar nu toate piețele de outsourcing și companiile din cadrul acestora sunt la fel. Datorită numeroșilor vorbitori de limbi străine și a specialiștilor IT, România se află printre primele 20 de țări preferate pentru outsourcing la nivel global și primele 3 în Europa.

Pe scurt, indiferent dacă sunteți un start-up sau o companie multinațională, externalizarea dezvoltării de software poate fi calea de urmat. Există nenumărate beneficii în a lua o greutate de pe umerii dvs. și a vă pune încrederea într-o altă companie pentru această etapă a proceselor companiei.

Reducerea costurilor

Procesul de angajare și formare a unei echipe cu normă întreagă poate fi costisitor, în special pentru proiectele pe termen scurt. Externalizarea nevoilor dvs. de software personalizat este o abordare bună pentru reducerea costurilor operaționale. Acest raționament este susținut, de obicei, de avantajele pe care externalizarea le oferă unei întreprinderi în ceea ce privește economiile de costuri și reducerea investițiilor permanente într-o infrastructură internă necesară pentru a realiza aceleași activități la nivel intern.

În plus, deoarece profesioniștii cu care veți lucra în procesul de externalizare sunt foarte bine pregătiți în domeniul contabilității, timpul necesar pentru a procesa facturile aferente clienților este mai scurt decât ar fi fost necesar pentru o echipă internă. De asemenea, compania dvs. va economisi timpul necesar pentru a recruta și instrui un nou angajat.

Vă puteți concentra pe activitățile de bază

Fiecare membru al echipei ar trebui să se concentreze pe ceea ce face cel mai bine și pe activitățile care aduc venituri astfel încât afacerea să aibă succes. Atunci când încredințați procesele unei alte companii, o mare parte din volumul de muncă dispare, iar dvs. veți avea timp să vă concentrați pe principalele activități ale afacerii. Astfel, outsourcing-ul este o soluție excelentă pentru a experimenta o creștere a eficienței și productivității, reducând în același timp și consumul de resurse.

Eficiență îmbunătățită a gestionării sarcinilor

Pe lângă procesul de delegare a sarcinilor de lucru care sunt greu de gestionat, externalizarea permite întreprinderilor să ia în considerare restructurarea proceselor de afaceri și beneficiile acesteia. Departamentele și operațiunile care nu sunt gestionate și care utilizează resurse necontrolabile sunt primele care trebuie încredințate unor specialiști care au, de obicei, o experiență vastă în management. De asemenea, externalizarea asigură continuitatea afacerii și un flux de lucru organizat și controlat.

Acces la o tehnologie modernă

Cele mai multe companii de externalizare a suportului tehnic solicită instruirea regulată a angajaților lor cu privire la noile practici și tehnologii. Cu o echipă de asistență tehnică externalizată în acest domeniu, aveți acces la cea mai bună tehnologie care se potrivește nevoilor afacerii dumneavoastră. Puteți fi sigur că veți primi sfaturi de încredere și servicii transparente pentru toate nevoile dvs. de afaceri legate de IT.

Este important să stabiliți o relație solidă cu partenerul dvs. de externalizare, deoarece acesta vă poate oferi servicii de calitate superioară în numele dvs., oferindu-vă în același timp cunoștințele sale de specialist în tot ceea ce înseamnă tehnologie, ceea ce vă poate ajuta să vă conduceți afacerea fără probleme.

Creșterea gradului de flexibilitate și a calității serviciilor

Unul dintre beneficiile externalizării este garantarea unei îmbunătățiri a performanțelor companiei, deoarece un expert va realiza o activitate mult mai repede și mult mai bine decât un angajat nespecializat pe un anumit segment, întrucât are deja experiența necesară. Având în vedere că organizațiile de outsourcing au experiență în acest sector, acestea vor realiza analiza și planul de gestionare a riscurilor în mod profesionist. Astfel, se economisesc bani și timp pentru instruire și se reduc riscurile. Specialiștii vor găsi cea mai bună opțiune pentru afacerea dumneavoastră.

Echipa poate avea, de asemenea, strategii pentru crearea și perfecționarea funcționalității software-ului, ceea ce va duce la inovații suplimentare. În plus, aceștia pot genera idei pentru a depăși dificultățile existente în cadrul companiei.

Un alt beneficiu important este faptul că firmele de outsourcing au, de asemenea, flexibilitatea necesară pentru a face față cerințelor în schimbare ale afacerilor. Această caracteristică permite unei întreprinderi opțiunea de a externaliza o parte a unei funcții, o întreagă divizie sau chiar responsabilități specifice, în funcție de strategia sa.

Căutați partenerul de externalizare potrivit pentru afacerea dumneavoastră? Contactați-ne la Connections Consult! Suntem o companie de echipă axată pe tehnologie, centrată pe procese și oameni. “Vindem” ROI folosind transformarea digitală și diverse modele de afaceri bazate pe servicii – BPaaS, servicii profesionale, creșterea personalului și externalizarea serviciilor tradiționale.