Combining the power of cloud computing and robots to build Digital Production Lines
Cloud Technology is a critical enabler of the 4th Industrial Revolution. Particularly when data intensive processes are involved, ‘platform as a service’ allows for innovative new ways for traditional problems to be solved, bringing agility, speed and scalability.
During the last decade it became evident that financial services companies were drowning in spreadsheets and processes that were being performed each month by actuaries, accountants and other expensive finance staff. They were struggling to meet deadlines, had legitimate concerns over the quality of their data and lacked any real transparency or audit trails for the information they generated.
What such businesses really needed were tools to automate their repetitive, data intensive processes to help them work faster and more accurately.
Robotic process automation or RPA, has proven itself for low complexity and high-volume applications reliant on administrators. However, for processes reliant on specialist subject matter experts, who are a key dependency in the production of mission critical strategic information, a new genre of automation was required to connect (silo) systems and crunch big data at speed with automated audit trails. These digital production lines ‘take the robot out of knowledge workers’ and enable them to focus on interpreting the results and making informed decisions.
Companies are now embracing these platforms in areas that were previously difficult to address with traditional IT approaches.
Digital production lines
These provide transparency, by allowing process owners to easily see the journey taken by the data during the process flow, including calculations and transformations.
They also provide automated audit trails, where every step in the production line is recorded in detail and documented to be readily accessible for regulators and auditors. This documentation automatically updates as processes are upgraded ensuring that the documentation and process are always in sync. A ‘track and trace’ record of the changes is also generated.
The best thing about robots is they never get…
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Read this article by Bram Meyerson, Regional Director, SolveXia, as well as a host of other topical management articles written by professionals, consultants and academics in the June/July 2018 edition of BusinessBrief.
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