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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

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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.

Connections enters the shareholding of the edtech company 10 Plus and acquires 25%

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The acquisition of the platform will bring a yield of at least 30-40% annually, in the next 5 years

Bucharest, November 3rd, 2022 – Connections Consult SA, listed on the AERO market of BVB and the leader of the digital transformation market in Romania, announces the acquisition of a 25% stake in the edtech 10 Plus Future Education SRL company.

The company, specialized in online courses for adults and children, language courses, mathematics, Romanian language, etc. is the first acquisition of this year of Connections Consult SA, after last year’s full purchase of Brusch Services SRL. After the acquisition, Brusch proved to be a real success, with excellent performance, considerably above last year’s figures.

“The reason why we decided to make this transaction is the explosion of edtech services, respectively the digitalization of education using the latest technologies – virtual reality, augmented reality, artificial intelligence. We estimate that the acquisition of the www.10plus.ro platform will bring a yield of at least 30-40% annually, in the next 5 years, either from exploitation or from finding of a new partner. The takeover of the shares was achieved through a transaction that implies only the investment made by Connections in the technological development of the digital platform for the delivery of online courses and in online marketing services to attract customers”, says Bogdan Florea, founder and CEO Connections Consult SA.

Connections Consult S.A. aims to contribute together with the founder Victor Militaru and Anca Florea, managing partner, to the development of the company in digital environment.

 “The entry into the 10plus.ro shareholding of Connections Group represents, on the one hand, the validation of the efficiency and efforts invested by the current management team, and, on the other hand, a trust capital earned by the company, for the accelerated evolution in the next 3-5 years, towards the flagship edtech platform of the South-East European region”, added Victor Militaru, founder of 10plus.ro.

10plus is positioned today among the best performing companies in the industry, through its didactic expertise, constant technological innovations, and background in organizational processes.

The 10Plus journey began in the year 2012, at the same time as Google Glasses, 4 years before the launch of Google Translate and 8 years before COVID-19.

The founder of the company, Victor Militaru together with Imelda Bădescu, a teacher with over 14 years of experience, chose a business model little known to the Romanian market at that time – online courses to complement the traditional education system. They have developed an entirely online teaching system based on a premium educational standard and teaching methods.

After 10 years, the live teaching-learning platform with 10Plus teacher has become one of the most popular, especially due to the expertise of teachers, teaching methodology and the relevance of language courses, Romanian language and mathematics.

 

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5 ways to transform your Banking Process

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As numerous businesses, banking is to change in the coming decade. After all, financial services is a fast-moving industry, and it implemented significant various technological advances like mobile banking apps that have significantly streamlined your customers’ experience. As customer preferences change, new technologies are currently evolving and new competition is out every day, the traditional person-to-person business model is morphing toward a digital and technology-based banking process. 

To remain competitive in the modern business environment, banks everywhere need to reassess their processes and ensure that the entire system works like a well-oiled machine. Becoming more efficient is an important strategic objective for banks in order to address the market challenges and include lean tools such as robotics and process automation. 

In our experience, many of Connection sConsult’s clients have achieved significant and successful efficiency improvements in the banking operating process following these 5 strategies. 

Process Analysis & Optimization

Banks have embraced IT services, therefore, there is an increased sophistication of front and back-office banking operations. Banking Process Management – BPM – has garnered the interest of the banking and financial industry over the past decade.

When it comes to prioritizing process analysis and optimization, one challenge is that most core banking processes are cross-functional, and each team member manages their singular nice. No one is managing the entire banking process. ​​Automating banking and financial services are now key business requirements in order to achieve clarity on your strategic direction, alignment with the organization’s resources, and increased discipline in daily operations. 

This may seem a bit overwhelming, especially when your business is only beginning its digital transformation. Keep in mind that you can always consider turning to a consulting company service that offers a variety of services regarding automation implementation.

Increase Team Efficiency 

Productivity and efficiency go hand in hand in many industries and the banking segment is no exception. Unfortunately,  83% of working professionals say their organizations have two or more redundant applications for the same function. Therefore, being busy does not always mean being productive. How can you get rid of the routine and repetitive work that’s still important, but isn’t where your employees really accomplish something meaningful?

Automation tools are one popular and best-rated solution to help improve staff productivity. Robotic Process Automation (RPA), to be exact, enables banks to handle more transactions and greater volumes of activity with the same number of personnel. RPA robots can mimic virtually any actions that human users perform. However, productivity improvement is not dependent on technology alone. Some of the foremost significant opportunities involve using established performance management techniques, such as clearly defined expectations and scorecards, improved motivation and rewards systems, and better training and supervision. 

Channel Optimization 

Through channel optimization, every organization assesses the various ways customers interact with a bank in order to create a cost-effective combination that is adapted to each bank’s specific customer base. To achieve this goal, banks need to adopt other channels like Internet Banking, Mobile Banking, Kiosks, Customer Service Points, etc, to attract the present generation and to provide enhanced service to the existing clients. Keep in mind that channel optimization should not be about branches alone, but working to enhance banking processes via better operating hours and technical knowledge, as well as their chat, text, and social media capabilities.

Eliminate Manual Tasks & Redundant Data

Eighty-two per cent of banks and credit unions are still using manual processes that are undeniably too slow for the modern market. Start by eliminating manual tasks and redundant data with automated workflows. This will drastically increase employee productivity and efficiency while reducing the number of errors. We mentioned technology and banking process automation several times already, but because of its broad, enterprisewide impact, the use of technology and automation also merit individual attention as part of the overall efficiency improvement effort.

Business process automation may be implemented in many banking branches such as digitizing account opening for checking accounts, savings accounts, or loan applications, but also internal communication among different departments. Automated workflow processing gives managers greater visibility into the activities being performed and plays an important role in a bank’s channel optimization efforts.

Digital Onboarding process

Proper onboarding of customers is essential to establish trust and create an opportune moment for cross-selling.  More than half of consumers fail to finish their onboarding process for a number of reasons. The ever-changing regulations, multiple touchpoints, and extensive paperwork add to their perplexity. Using digital IDs and completely digitizing the onboarding process makes it much easier and more cost-effective for financial service providers to approach underserved customers, centralize documentation and offer a hassle-free onboarding experience.

To conclude, looking beyond these 5 ways to implement an overall digital transformation for your banking process, one most important take-out is to recognize the value of automating your business process in the banking industry. If you are looking for further operational efficiencies in banking, Connections Consult might be the perfect solution for you. We blend Software Development and Process Automation to leverage the original trifecta – People, Process, Technology to the triple-A one: Automation, Artificial Intelligence and Analytics. Schedule a meeting with us, and let’s improve efficiency in the workplace together.

Experts with over 20 years in technology are joining Connections Consult and form the new Advisory Board

Experts with over 20 years in technology are joining Connections Consult and form the new Advisory Board

Posted on by andreea.pislariu

Experts with over 20 years in technology are joining Connections Consult and form the new Advisory Board

 

Bucharest, 27th September 2022 – Connections Consult (CC), a group of digital transformation companies listed on the secondary market of the Bucharest Stock Exchange (AeRO), is pleased to announce its Advisory Board and the first meeting that took place in London on 16th September 2022.

”With the occasion of our first-year anniversary as a publicly traded company, we are proud to introduce our Advisory Board. Together with the executive team the Advisory Board’s recommendations and advice will shape the strategy and development of the group.  The Connections Consult Advisory Board is made of experienced business leaders and entrepreneurs that will guide us as we grow and deliver for our customers”, said Bogdan Florea, CEO of Connections Consult SA.

Bogdan Lazaroae chairs the Advisory Board.  He has over 25 years of experience in technology and large projects delivery in the United States and Europe. His extensive experience in the public sector will help shape Connections Consult’s expansion in the public sector and international markets.

Michael Lithgow, CBE CEng FIET has more than 40 years’ experience of planning, deploying and operationally managing large technology programs. His experience spans research and development, procurement, leadership of large enterprises of up to 7,000 personnel, chair of an influential defense technology think-tank and advising at Board level on major technology investments and go to market strategies.  He has operated across Europe, South Africa and the Middle East, working with local, national and inter-governmental bodies as well as commercial organizations in the telco, financial services, retail and energy sectors.  

Diana Olar brings over 20 years of experience in technology, innovation and entrepreneurship in Europe and the United States. Her experience in accelerating tech businesses and service innovation will help strengthen long-term development of the company.

”The Advisory Board will undeniably help guide and shape the future of Connections Consult.  With regular meetings and updates, we look forward to working with our new advisors.  We are delighted to welcome them to Connections Consult and are grateful they are a part of our journey to growth”, added Bogdan Florea.

robotic process automation for efficient work and business management

How RPA can Free Employees’ Time for More Important Work

Posted on by andreea.pislariu

 

RPA for efficent digital business process

Your employees are your business’s most valuable asset, no question about it. Their talents shouldn’t be wasted on monotonous digital tasks that could instead be completed in a fraction of the time by intelligent RPA software bots.

A business can boast the best product, implement optimum marketing strategies, and have the perfect processes in place; but without a top-notch team of exceptional people, it won’t get very far.

So why would you waste your employee’s valuable time and expertise on completing dull, manual processes that slow down their productivity – affecting your business – and making that work a chore – affecting job satisfaction?

Robotic Process Automation (RPA) is a transformative technology that uses software robots to handle repetitive and high-volume tasks at top speed and with increased accuracy, freeing up the human workforce to focus on tasks that they do best, and enjoy most.

Below we take a look at some real-world examples of how RPA has transformed working conditions across a range of industries, resulting in significant time saving and improved employee satisfaction.

Time-saving 

RPA software has been successfully utilized across a range of industries to free up employees’ time to concentrate on more valuable work.

A large insurance agency reports that they save between 20 and 40 hours a day since implementing RPA technology. Larry H, a systems administrator at the agency says, “Our organization has improved because of the time savings. We’ve got robots now taking 10 seconds to do what people were taking four to six minutes to do. It’s a whole department of people that are now free to do other things.”

A major manufacturing company similarly reports that utilizing RPA on a high-visibility data entry project saved their retail managers roughly 5 500 hours a year.

Significate time-saving after RPA implementation is reported by a managing associate at a legal firm too: “Our processing time was reduced to half an hour from something that would have taken up the whole day (eight hours). This has freed up our legal staff’s time to focus on more important and strategic tasks.”

Improved employee satisfaction

Doing the same thing over and over every day is not only dull but can lead to poor employee morale. When automation software takes over these mundane tasks, employees are free to focus on more important work that stimulates them, leading to improved job satisfaction.

A department lead at a consultancy firm remarked that since the implementation of RPA software, employees can now “use automation and apply their brains somewhere fruitful.”

When human resources are no longer bogged down by time-consuming manual tasks like moving files, filling out forms, and extracting data from emails, they can focus on more important work, like collaborating on innovative business projects and interacting with customers.

At another consultancy, a developer noted that “A [RPA] robot takes [repetitive tasks] away and helps people enjoy their work a lot more because they can do non-repetitive tasks. They can be a lot more customer-facing and perhaps build stronger relationships with their customers, know them better, and have more time available to work on other projects or work on other things that they may never have had the time to do.”

Aaron F, a systems administrator at a manufacturing company remarked that since implementing automation solutions, he has noticed performance benefits with his staff. Since being relieved of some of the tedious tasks they previously used to spend time and energy on, they are significantly happier and more stimulated in their jobs.

Implementing RPA software to complete manual computer-based administrative tasks provides the workforce with more time to focus their energy on meaningful human tasks, not robotic ones. When they no longer need to waste valuable brainpower on mundane digital tasks, productivity will increase as will overall employee satisfaction.

Isn’t it time that you discovered how implementing RPA can save your business time, increase productivity, and boost employee morale?

Book a Discovery Call with one of our RPA Implementation Experts now.

Your employees will thank you.