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

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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

Posted on by andreea.pislariu

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?

Posted on by marketiu

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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.

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The role of AI and ML in transforming banking operations

Posted on by marketiu

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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.

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

Posted on by andreea.pislariu

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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.

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Challenges and potentials in Digital Business Process Automation

Posted on by marketiu

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Digital transformation is a complex, multifaceted process. And Robotic process automation (RPA) projects are a rewarding but difficult undertaking. A recent survey indicates that 69% of robotic process automation (RPA) projects never move past the planning stage because of their complexity. However, if companies prepare their business process automation projects and realize the potential RPA challenges, they can reap huge rewards.

What are some of the challenges businesses face when deciding to automate? Connections Consult’s team of RPA specialists put together a list of the most popular concerns our clients presented us with initially and how we worked to surpass them. 

 

Identify the right business processes to automate

The importance of automation in business is growing. For example, businesses can use automated processes such as sending emails, data entry, and scheduling meetings. However, understanding the manual processes already in place in a company and determining where resources are needed most can take time and effort for managers.

 

Limited Adoption Throughout the Company

Make sure you have executive buy-in before diving into the implementation stage. To achieve full adoption of a process, key stakeholders must be involved in the process from the outset. Your stakeholders can be strong evangelists for your initiative, getting individual departments involved and helping to ensure that your initiative aligns with your overall business strategy. They’ll also help you manage change as you work through process optimization.

Everyone in the company must use new technologies to be effective. Consistency is the key to effective communication. Remember, change is not easy, but it is possible.

 

Limited IT resources and bandwidth

More than a quarter of the IT leaders surveyed said their biggest hurdle was gaining business alignment on process automation goals. Although they may speak different languages or have different sets of priorities, business and tech stakeholders share a common goal: profits. How can you reach a consensus on complex issues?

An ideal enterprise intelligent automation platform should be relatively easy to install and deploy without IT support. Moreover, they should be easy to use and intuitive even for inexperienced users, so IT teams won’t have to train their own staff in how to use the new software.

 

Lack of time for continuous improvement

When an organization wants to achieve a particular goal, it will do whatever is necessary to make that happen. Companies can foster continuous improvement by conducting meetings and audits. The problem lies in the fact that many companies cannot effectively conduct these meetings and audits, resulting in little to no improvements being made.

 

Using a One-Size-Fits-All Solution

Sometimes the word automation is used to describe multiple types of technology. For example, there are robotic process automation, intelligent workflows, execution management systems, and low-code or no-code application and integration platforms. Process mining is one of the technologies that power intelligent automation.

A “one-size-fits-all” approach rarely provides optimal results. When matching automation technology to a need, take time to consider the capabilities of the technology itself. While RPA effectively handles basic repetitive tasks, more complex or time-consuming tasks may require a human touch.

Before automating a process, examine the related processes to ensure they are efficient and effective. Any automation will be a stopgap if you do not address the underlying causes of your inefficiencies.

 

Ready to implement RPA to transform your business? Make sure you work with the right specialist to make sure your attempt doesn’t fail. With over 15 years of industry experience, Connections is here to help. Schedule a meeting with one of our experts, and find the RPA solution for your needs. 

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5 FAQs every business has when adopting RPA

Posted on by andreea.pislariu

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Businesses in the digital era are reaping the benefits of robotic process automation. With around 80% of finance leaders implementing or planning to implement RPA and more than 90% of C-level executives reporting some level of intelligent automation already exists within their organizations, adopting new digital technologies plays a massive role in strengthening and transforming companies around the world. However, RPA implementation remains a challenging feat. 

From our experience, over the past year, there has been intensifying interest in robotics and the application of cognitive and artificial intelligence technologies. Connections Consult team of RPA specialists has consolidated the top 5 most commonly asked questions while researching RPA and RPA implementation: 

 

1. What does RPA stand for in technology?

RPA is an acronym that stands for “Robotic Process Automation.” It represents a software solution that does not involve physical hardware. In other words, bots can execute repetitive tasks that a human does on multiple systems and platforms. Actually, RPA takes over many of the responsibilities employees dislike most. Adopting RPA to reduce monotonous tasks can precipitate a happier and more productive workforce. 

 

2. Why automate business processes and free humans? Doesn’t that lead to job losses?

Maybe you’re thinking: ”Sure, automating processes is good for businesses, but what about the people doing the work? They may not like the mindless and repetitive parts of their jobs, but they don’t want a robot to replace them.” Contrary to popular belief, RPA creates new possibilities and opportunities instead of eliminating jobs. For workers and employers.

 

3. What’s the difference between RPA and macros and scripting?

While some features are similarly shared by macros and RPA, others are unique to Robotic Process Automation. According to UiPath, a macro is a short code sequence that automatically expands into a set of instructions to perform a single task. Unlike a macro, a robot can act autonomously to use and orchestrate any application, from mainframe and legacy applications to closed third-party APIs.

Macros have limited scope to what they can automate because it is difficult to link them with products outside the Microsoft Office suite. When working with non-Office programs, we often face problems that cannot be dealt with by macros alone. However, because RPA can be integrated with other applications, it’s suitable for automating more tasks within a single workflow.

 

4. Do you need help implementing and maintaining RPA?

RPA can be a challenge for some businesses. It requires a significant change to the way your business operates. RPA installation itself can be straightforward and not dependent on your other existing systems or have demanding infrastructure requirements.  RPA comes in several forms ranging from a quick record-and-play bot to a complex algorithm with multiple branches of scenarios covering several permutations of cases. In the current, constantly changing business environment, businesses need to constantly adapt their processes and products to stay on top of the competition. 

To successfully harness the benefits of RPA implementation, there must be process improvements, internal controls, etc. RPA performs best with a good operating model.

 

5. Can RPA be accessed by outsourcing?

Your business can still reap the benefits of RPA technology even if you are not prepared to invest in an in-house digital transformation process. Collaborating with an outsourcing RPA company, you’ll have access to RPA software to help convert financial processes from manual to automated procedures.

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How to choose the right RPA tool for your business?

Posted on by andreea.pislariu

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Today’s market is rapidly evolving, and automation is one of the most influential factors considering its applicability in a wide range of sectors, functions, and processes. But even though the technology is now woven into the fabric of work, there’s a tremendous opportunity to automate routine and repetitive tasks. This is what Robotic Process Automation concept relies on – automating repetitive, rule-based, labor-intensive processes, reducing the dependency on manual labor, and increasing business efficiency and accuracy. The RPA bots implementation has tremendous potential to eliminate drudgery—in data entry, billing, order management, HR onboarding, and endless other areas.

 

Of course, there is no surprise that RPA technology is also evolving daily with added features and functionalities. Gartner reported that RPA software is the fastest-growing global enterprise software market segment. RPA is expected to eclipse cloud, IoT, and blockchain, receiving the most significant investment focus for enterprise buyers looking to achieve operational effectiveness. 

How do you choose the right RPA platform for your business needs? Our Robotic Process Automation implementation experts from Connections Consult, an innovative European group of companies with more than 17 years of experience, provide the necessary guidelines for choosing the right RPA tool.

Architecture

A well-designed RPA tool has huge implications for any company. The architecture of the Robotic Automation tool depends on where you want to employ this technology and how well it can be adapted for performing various tasks. Depending on the purpose of your tool, before choosing an appropriate RPA tool, you should make sure you have the right skills and expertise to use it, as well as knowledge regarding where it should not be used.

Most RPA tools rely on a layered design for better deployment and maintenance, which is another important factor to keep in mind while selecting the right RPA tool.

Ease of RPA implementation

One of the best features of Robotic Process Automation technology is its ease of implementation, non-invasiveness, and compatibility with existing legacy systems. Business users should be able to point and click the applications they normally use while a recorder notes the actions. Remember you want to improve the speed and efficiency of your business processes, which is why you are looking to deploy an RPA tool. Fortunately, 70% of organizations say that RPA releases employees from mundane tasks, help them focus on more strategic and creative tasks, and increases efficiency by 80%. 

Exception handling

Categorical machine learning models typically estimate the probabilities of the possible results. A robust Robotic Automation tool that is well-designed and will detect errors during automation more quickly than manual detection. In some cases, errors require human attention and must be directed toward experts. An efficient exception-handling capability ensures that workplace automation operates smoothly and seamlessly.

RPA integration with enterprise applications

A bot isn’t good for your company if it can’t get information out of your enterprise applications. That’s usually easier than parsing PDFs, but you need drivers, plug-ins, and credentials for all your databases, accounting systems, HR systems, and other enterprise applications. 

Connections Consult is an official UiPath partner company that trains software robots using RPA technology on the UiPath platform. We blend Software Development and Process Automation to leverage the original trifecta – People, Process, and Technology to the triple-A one: Automation, Artificial Intelligence, and Analytics. We design, architect, integrate, and deliver digital business solutions for various industries. We use rapid prototyping and design thinking to deliver innovative solutions. 

Support 

It’s always good to choose reliable providers and ensure that you are provided with a good support system. Different RPA vendors offer different kinds of support. You will want to check if the vendor provides part-time, contractual, or a dedicated round-the-clock support team and what kind of training or certification is required related to the functioning of the RPA tool. Best practices ensure strong maintenance procedures, so you must ensure access to these too.

 

Remember that each RPA tool has a specific purpose and doesn’t follow the size fit approach. Each tool has a specific purpose, and to evaluate the full potential of an RPA tool, you will need to prioritize one or more criteria over the others and choose the one which closely matches your requirements. If you are looking to gain further insights, schedule a meeting with one of our experts, and find the RPA solution for your needs.

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Top 5 reasons outsourcing benefits your company

Posted on by andreea.pislariu

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In the background of a highly competitive market, the digital transformation of companies has never been more necessary. Thus, the demand for outsourcing software and process automation services is expanding. You’re probably familiar with the overall benefits and compromises widely associated with outsourcing, but not all outsourcing markets and companies within them are the same. Due to many foreign language speakers and IT specialists, Romania is among the top 20 preferred outsourcing countries globally and the top 3 in Europe. 

In short, whether you’re a startup or a global corporation, software development outsourcing can be the way forward. There are countless benefits to taking the weight off your shoulders and putting your trust in another company for this stage of the company process.

Reducing cost 

The process of hiring and training a full-time team can be expensive, especially for short-term projects. Outsourcing your custom software development needs is a good approach for businesses to cut operational costs. Typically, this rationale is supported by certain advantages that outsourcing provides to a business regarding cost-savings and reduced ongoing investments in an internal infrastructure required to perform the same activities in-house.

Moreover, since the outsourcing professionals you will be working with are highly trained in accounting, the time it takes to process invoices for accounts payable is less than what it would take for an in-house team. Your company will also save the time required to recruit and train a new employee.

Focus on the core business 

Every team member should have to focus on what they do best and activities that bring revenue for the business to be successful. When you entrust processes to another company, much of your workload is gone, and you have time to focus on the core segments of your business. Thus, outsourcing is a great solution to experience an increase in efficiency and productivity while lowering resource consumption.

Improved task management efficiency 

More than delegating work tasks that are laborious to handle, outsourcing permits businesses to take notice of the business process re-engineering and its benefits. Unmanaged departments and operations that use uncontrollable resources are the first to be outsourced to specialists who usually have extensive management experience. Also, outsourcing provides business continuity and controlled workflow.

Modern technology access

Most tech support outsourcing companies require regular training on new practices and technology with their employees. With an outsourced technical support team in this field, you get access to the best technology that fits your business needs. You can be sure to receive reliable advice and transparent service for all your IT-related business needs. 

Establishing a solid relationship with your outsourcing partner is important, as they can provide top-notch customer service on your behalf while sharing their expert knowledge on all things tech that can help run your business seamlessly.

Increased flexibility and service quality

One of the benefits of outsourcing is guaranteeing an improvement in company performance because an expert will perform an activity much faster and much better than a non-specialist employee in a particular segment, as he already has the necessary experience. Considering that outsourcing organizations have experience in this sector, they will perform the risk analysis and risk management plan professionally. This saves money and time for training and reduces risks. Specialists will find the best option for your business. 

The team may also have strategies for creating and improving software functionality, which will lead to additional innovation. Furthermore, they may generate ideas for how to overcome existing company difficulties.

Another important benefit is that outsourcing companies also have the flexibility to meet changing business demands. This feature allows a business the option to outsource part of a function, an entire division, or even specific responsibilities depending on its strategy.

Looking for the right outsourcing partner for your business? Contact us at Connections Consult! We are a technology-focused team company, process & people-centric. We “sell” ROI using digital transformation and various service-based business models – BPaaS, professional services, staff augmentation, and traditional services outsourcing.

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How Business Process Management drives digital transformation

Posted on by marketiu

 

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It does not come as a surprise that business process management is a field of research that has been the focus of researchers for numerous years since business processes play a pivotal role within every organization. As technology evolves, organizations in all industries face an even more competitive market. The digital business process is the binder between the strategic concept and the technology. Business Process Management (BPM) technology leverages computers and rule-based engines to give executives an overall view of how their processes are functioning. BPM’s aim is to optimize and automate business processes from start to end, by focusing on their strategic purpose and target outcome to reshape how people, systems, and data interact.

Planning business processes flexibly and agilely is the central prerequisite for a successful digital transformation. One starting point any enterprise could take for fast digitization and optimization of business processes is Business Process Management. In this article, we will take a further look into what digital transformation means, what are the main steps to efficiently automate your business processes and how will an automated Business Process Management technology benefit you.  

What is digital transformation? 

Digital transformation refers to an innovation process that happens both through technology and through a change in thoughts and the company’s culture. In other words, digitalization is the adaptation of a company’s work philosophy to meet the cultural, logical, personnel, and technological needs of an evolving landscape. It not only leads to a hyper-connected, fast-moving, and highly competitive environment, but it also affects work processes at the operational level. 

One thing to remember is that digital transformation is a multi-step journey that requires cross-cutting organizational change which focuses on employees, customers, and internal business processes. Before making any decision regarding the implementation of digital transformations, take your time to understand the implications and challenges of process automation. Don’t hesitate to book a meeting with our consulting team to find the right solutions for your needs.

How to strategically automate your Business Process

The biggest concern for directors, CIOs, CEOs, and other C-level executives is how to efficiently implement management practices and process automation in order to create a more effective and dynamic environment when adapting to new business requirements. In this context,  BPM is an essential component of digital transformation. What are some strategic ways to start automating business processes?

Firstly, you should prioritize areas to automate. Think about operational improvements and the impact on customers. Base these areas of opportunity to improve on a scorecard evaluating the impact on customers, employees and the business.   

Once you know where will you benefit most from automating the business processes, the next step is identifying repetitive tasks. It may be of help to review the standard operating procedures (SOPs) that document the exact steps necessary to carry out and complete the responsibilities within a role. 

Benefits of Digital Business Process Management

1. Reduce risks 

Given the changing business environment, companies are prone to organizational errors that may affect their efficiency. Continually improved to adapt to changing organizational conditions, modern Business Processes can deliver the expected results. Similar to Robotic Process Automation – RPA, BPM eliminates errors and reduces costs. By streamlining, automating, and improving processes risks are reduced, processes are more transparent and you can ensure that you meet all quality and regulatory standards expected of your business.

2. Save time and increase productivity

In every department, there are many repetitive, tedious, time-consuming tasks that need to be completed. BPM standardizes processes so employees can work more effectively within a set framework that speeds decision-making and reduces the risk of human error. Moreover, employees will be able to focus on the core, valuable, aspects of their job.  

3. Enhance compliance and security

In any industry, department or process, there is always something you should be paying more attention to and some data you should utilize more. Data management is important. When you have a myriad of complex processes executed with complex tools, you are bound to miss a guideline or two. BPM ensures every function successfully complies with their respective policies. 

Having a systematic holistic approach allows you to have a better overview of the processes at your organization and a digitalized and digitized Bussiness Process Management software it’s an important piece of the puzzle for any company that wants to be successful in today’s digital economy. Keep in mind that you can always turn to a consultancy company, that could guide you through the process of the setup and maintenance of custom software that will be better tailored to your organization’s needs.