Tangentia receives Automation Anywhere’s IMEA Partner Awards 2020

  • Tangentia is awarded “Excellence in Business Process Automation 2020 – IMEA” from Automation Anywhere.

At Tangentia, we are proud to announce we are the recipient of the “Excellence in Business Process Automation – India” award as part of Automation Anywhere’s esteemed IMEA Partner Awards 2020.

As a leader in Robotic Process Automation (RPA), Automation Anywhere is dedicated to helping organizations around the world move into the 21st century by creating innovative Intelligent Digital Workforce’s that will automate the fundamental processes they need to operate. As an Automation Anywhere partner, Tangentia has its finger on the pulse of agile digital transformation, thinking outside the box and delivering innovative solutions on a global scale.

The excellence award is a testament to Tangentia’s vision and leadership in the intelligent automation category and our dedication to customer experience, which is at the core of everything we do. This is in large part thanks to our work with Automation Anywhere. “We hold our partnership with Automation Anywhere in high regard,” says Tangentia CEO Vijay Thomas. “It has helped us provide even more value to our customers through the creative use of cognitive bots and our proven ‘global boutique’ deliver model. This award reinforces our commitment to RPA, helping organizations with their digital transformations and partnership with Automation Anywhere.”

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Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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Making Automation More Intelligent with Hyperautomation


  • Making Automation More Intelligent with Hyperautomation

Automation is leading the technological revolution of the early 21 st century. Tools like artificial intelligence, robotic process automation (RPA), and machine learning (ML) have been developed and adopted by many industries to automate and streamline tasks and processes. This frees up employees to engage in more meaningful work. However, Gartner argues that RPA and similar tools are not enough on their own. Instead, Gartner believes organizations need to adopt the concept of hyperautomation, which they labeled the No. 1 technology trend of 2020.

What Is Hyperautomation?

Automation has gone through an evolution over the past few years. It began with the automation of simple tasks, then moved on to the automation of individual processes, then progressed to automation across multiple processes. Hyperautomation is now taking the concept of automation to the next stage of its evolution.

Hyperautomation is a term that was introduced by Gartner. It encompasses a combination of complementary automation technologies – RPA, AI, ML, and intelligent business management software (iBPMS) – that together take the automation of business processes beyond what any single automation tool can offer.

What Hyperautomation Can Do?

RPA is confined to interpreting structured data based on a set of established rules. This limits RPA’s ability to deal with more complex data analysis. However, hyperautomation can handle unstructured data, in addition to structured data, which turns it into a powerful analytical tool.It uses AI and ML to learn as new data comes in and outcomes change.

What this means for organizations is simple. Hyperautomation will allow you to provide an end-to-end solution that goes beyond just automating repetitive tasks. Instead, it provides intelligent monitoring and analysis that has the ability to assess and reassess data across multiple systems and departments in order to augment and support decision-making. And the best part is that this is all done in real-time. Hyperautomation analyzes the data as it flows in,which means decisions can be made in a timely manner.

The capabilities of hyperautomation are so powerful that it can result in the development of what Gartner has termed a digital twin of the organization (DTO). A digital twin is a system that all organizational departments and interested parties can connect to in order to get the information they need. This eliminates the need for multiple channels through which data is delivered and allows hyperautomation to provide ongoing intelligence that drives business decisions by making it easier to see opportunities as they arise.

The result? Resource optimization, lower costs, improved employee satisfaction, enhanced customer relationships, and increased revenues. Hyperautomation will also make your organization more agile, providing the ability to change processes as required to keep up with internal organizational changes, industry changes, and external changes (such as the COVID-19 pandemic of 2020) that can affect operations.To learn more about what hyperautomation can do for your organization, contact Tangentia today.

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Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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A Quick Guide to Warehouse Inventory Management in 2020


  • A Quick Guide to Warehouse Inventory Management in 2020

The holidays are fast approaching, and that means retailers and wholesalers must be efficient in organizing their products and managing the inventory of their products.

Depending on the size of your operation, how you manage your products may differ. However, warehouse inventory management is not just a requirement for compliance with SEC regulations and the Sarbanes-Oxley Act (SOX) for public companies—it’s crucial to the success of any retail company.

We’ve put together this brief guide to help you understand the basics of warehouse inventory management.

What Is Warehouse Inventory Management?

Warehouse inventory management is the system used to organize and track all of the company’s owned products. For warehouse operations, this helps to ensure the right level of inventory is in the right place at the right time. Inventory is then converted to revenue once it’s sold.

In the United States, manufacturers, retailers, and merchant wholesalers carried more than $1.9 trillion in inventory in June 2018, according to the U.S. Census Bureau.

Accurately evaluating the inventory for the company’s balance sheet requires either physical stock count or an automated inventory system that creates an accurate record of each inventory-related transaction.

This quantitative product management differs slightly from a company’s warehouse management system (WMS), an umbrella term that supports the entire operation of a warehouse, including inventory management.

The best warehouse inventory management systems keep track of products and provide actionable business intelligence, such as identifying trends in product performance and sending reorder notifications when stock is low.

Current warehouse inventory management systems are outdated and often haven’t embraced everything automation has to offer.

Features of Inventory Management

There are many steps involved in warehouse inventory management, some of which include:

  • Picking and packing
  • Shipping
  • Managing locations
  • Receiving orders
  • Tracking inventory levels
  • Cycle counting
  • Generating reports
  • Providing business insights

What Are the Different Types of Inventory Management?

Manual

Every step of the delivery, tracking, loading, and data manipulation is done by workers. This manual system can increase the risk of human error at any point in the inventory management process. If there is ever a mistake, the only method of resolving the problem is another manual re-do.

Another downside to this type of inventory management is its unsustainability for more significant warehouse operations. Without computerized report generation, companies may see difficulties in turning paper-based information into useful data.

Barcode

This system uses the familiar label of black stripes that are affixed to the product, packaging, or pallet. Using wearable barcode readers, workers can speed up warehouse inventory management and save seconds scanning per item. This digital format is efficient and accurate by counting goods in real-time.

RFID

Radiofrequency identification tags are found in two configurations: active and passive. Active systems use battery-operated tag readers located throughout a warehouse and updates of inventory count and location. Passive systems are read-only when someone activates the readers through hand-held devices. Passive technology can be read at up to 40 feet, while active readers are effective up to 300 feet, but both systems automatically record inventory.

Warehouse Robots

With growing advancements in technology and automation, companies are starting to turn to optical systems mounted on the ground or aerial platforms. These systems use machine learning to read existing labels without barcodes or RFID and maintain accurate, up-to-date inventory.

Warehouse Inventory Automation: Is This the New Norm?

Modern supply chains are more complex than ever. Traditional manual processes are no longer viable for businesses that want to optimize workflows and reduce wasted resources.

Automation is the natural solution to these problems. It’s ideal for individual warehouses or companies that support numerous locations across the entire supply chain.

Effective fulfillment requires sophisticated solutions that are able to predict trends, make actionable recommendations, and increase the visibility of potential issues before they turn into larger problems.

Successful manufacturers, 3PLs, and retailers know the importance of optimized supply chains. That’s why they’ve heavily invested in cloud-based automation solutions for their supply chains.

Automate Your Warehouse Inventory Management With Tangentia

Here at Tangentia, we understand the transformative difference automated solutions can make for your business.

When you’re processing hundreds or thousands of pallets or cartons per day, automated processes can significantly save time, effort, and costs. For many retail companies, creating greater warehouse inventory management efficiency translates to a multi-million dollar impact.

Are you interested in learning more about warehouse inventory management automation? Get in touch with Tangentia today to learn more.

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Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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How AI Can Support the New (and Old) Way of Learning


  • How AI Can Support the New (and Old) Way of Learning

When COVID-19 made its presence know in early 2020, everything ground to a halt – including school. A whopping 1.6 billion children in 191 countries were out of the classroom for the remainder of their school year, with parents trying desperately to help them learn at home. Meanwhile, education institutions, private schools and teachers around the world have been scrambling to map out a strategy for bringing kids back to school in the fall. Those strategies are now in place and kids are going back.

The development of the new back-to-school strategy has created the need to adopt technology that will support remote learning. And while many schools hope to see their students back in the classroom, the reality is often a hybrid model of learning, with some of it done remotely, or a full remote learning schedule. Fortunately, the technology exists to make this remote learning journey a smooth one.

RPA to the Rescue

AI In Education & Private School Learning Environments Not long ago, it was thought that the adoption of artificial intelligence (AI) technology in the classroom would lag far behind that of other industries. However, the need for remote learning that COVID-19 has created is shining new light on the need for AI technology to support learning.

Fortunately, AI, along with the Internet of Things (IoT), has advanced enough to become a powerful tool for education systems, the teachers they employ, and the students they educate. Simply put, AI can benefit the teachers and the students in many ways.

Teacher Benefits

AI can help teachers, whether they are teaching in the classroom or remotely. According to McKinsey, teachers work 50 hours a week and only 49% of that time is spent interacting with students. In addition, 20%-40% of those hours are spent on tasks that could easily be automated with the technology that currently exists. That is time teachers could be using to
improve the student experience and provide them with higher quality teaching.

Tasks that can be automated include administration, preparation, and student evaluation and activities that directly support student learning. This would benefit students whether they are learning in the classroom or online.

Student Benefits

The use of AI and chatbot technology can bring immense benefit to students, either in the classroom or remotely. This technology makes it possible for teachers to personalize the learning of every child they teach. This tailored learning approach will take into account personalities, learning disabilities, learning styles, and interests to create a unique and rewarding experience each and every student.

AI can also act as a teaching assistant, with chatbots available 24/7 to answer student questions as they arise. This means a child doing work at 8:00 pm can ask a question if they get stuck on a problem and receive an immediate answer.

Student safety is also a major issue when it comes to going back to the physical classroom during the COVID-19 pandemic. AI can be used along with IoT to connect devices with cameras and sensors to gather data in real-time and detect unsafe situations as they unfold. Alerts can be sent to teachers and staff, who are not able to monitor every child at every moment,
allowing them to respond and ensure a safe environment for everyone.

Ultimately, the technology that is available to education administrations can support teachers and students in ways that can help them maximize their time, improve outcomes, and increase safety. With student needs growing more complex and no way of knowing how long this current pandemic will last, the time to adopt AI in the classroom, whether physical or virtual, is now.

Learn more about Tangentia’s TIA (Intelligent Automation) Education platform and discover how to the harness the power of AI to streamline processes, support students and enable
learning.

Get Started Today

Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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Tangentia: Keeping Up With The Times

  • Tangentia: Keeping Up With The Times

Tangentia is a leading provider of digital transformation solutions worldwide. They empower companies of all sizes with proven Automation, B2B, and Digital integration solutions and strategies that help their clients maintain a competitive edge.

In 2020, the Tangentia Jigyasa Quiz in its 4th edition was held in 6 Indian cities with the finals in Goa and more than 200 teams participated in the quiz. Tangentia embraced Covid-19 as a new normal and undertook measures to keep their customers and employees engaged some of which like the Tangentia Talkies got a lot of attention from the global and local press.

Tangentia’s proactive engagement with customers, prompt and timely deliverable even during the lock-down, launching innovative ways such as Webinars and campaigns to showcase continual progress, and automating its processes has kept the company a client favourite all along.

Dealing With The Pandemic

Where the global COVID-19 outbreak has led to the partial collapse of most essential and non-essential business organizations, Tangentia has risen above the storm and introduced a unique remote employee engagement program namely ‘Tangentia Talkies’ to embark upon the stumpy self-esteem of its employees and ensure connectivity with one another.

“Covid-19 has shown us new ways to work together as a company. ‘Tangentia Talkies’ will be a corner-stone of our new HR engagement strategy. Our team motivation and bonding has been strong during these tough times and one of our mantras for success is to communicate, communicate, communicate.” Vijay Thomas, Founder-CEO, Tangentia Technologies.

‘Tangentia Talkies’ is a day-to-day online gathering that is conducted on the Google Hangouts platform wherein an employee is given an opportunity to make a presentation for a brief duration of about 10 to 15 minutes concluding with a quick Q&A session. This unique initiative as its name itself denotes provides a ‘talk show’ like experience to the participants that begins with a theme song, goes on to start the presentation and concludes with the rolling of final credits and applause for the speaker of the session.

The range of topics that are discussed during these sessions is abundantly broad to an extent that it enables speakers to converse about their passion, enlighten the audience about their surreptitious talents or just articulate upon a topic that could spread awareness in society. Few issues that have been discussed so far through this one-of-a-kind forum are ‘Trust in the Digital Era’ presented by Rajhans Gupta (Sales Manager), ‘Importance of Mental Health’ presented by Malav Kansara (Staffing Manager), ‘Mystery Called Dreams’ presented by Shweta Kandri and many more!

Click here to Read the complete article

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Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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Monthly Tangentia Byte July 2020


  • Monthly Tangentia Byte
    July 2020


As we enter Phase 3 of COVID19 re-opening in many parts of the World, Digital Workers in the workplace will be the new paradigm

Digital workers working side by side with employees is on the rise. If your organization is looking to automate mundane tasks in

Accounts Payable
,
Finance

or

HR
,
we can help. Utilizing the robust capabilities of our partners such as
Automation Anywhere
,
UiPath,
IBM

and
Blue Prism
, we can build an affordable solution that helps you cut costs and save time.
To book a demo with one of our
RPA
solution experts to discuss the impact of
Digital Workers for your organization, click below.


Are You Embracing all AI
Has to Offer?

AI can help your organization gain a competitive edge.
Tangentia is one of the leading providers of AI services, helping companies harness the power of AI.
Visit our new website AI services page to learn more about our AI partners and capabilities.

Is Your Organization Implementing Digital Workers?

Drive more value out of your processes with RPA. We work with leading RPA partners such as Automation Anywhere, UiPath and Blueprism.
Visit our RPA services page to learn more about our experience and RPA use cases.


Meet New Government of India GST Compliance Requirements

Your organization has 60 days to get compliant in India with new GST E-invoicing requirements. Get compliant within 2 weeks with Tangentia E-invoicing Gateway to ensure you meet the deadline of October 1st, 2020.


Effortless EDI Compliance For Your Business with Tangentia Cloud EDI

Our EDI solutions keep your data flowing, so you can focus on scaling your business in the digital age. Tangentia Gateway lets companies develop cost-effective and flexible EDI solutions that are customized to your unique supply chain needs.

Tangentia is proud to be a corporate sponsor of the Goan Overseas Association Food Bank Concert in support of the Mississauga Food Bank.
Please click on the link below to donate online and you will
also receive a tax receipt from the Food Bank.

Let’s
Rock and Roll tonight
to raise money for the Food Bank! #COVID19

AI Powered Chatbots in Higher Education | A Positive Impact for Students and Administrations


  • AI Powered Chatbots in Higher Education
    A Positive Impact for Students and Administrations

Artificial intelligence (AI) is taking the world by storm. The global intelligent virtual assistant (VA) market is set to reach more than $25 billion by 2025. In day-to-day life people interact with AI for shopping, banking, and smart home devices. In business, chatbots have made customer communications more efficient and a VA can help people organize their schedules and more quickly connect with the information they need to do their job better.

A VA is an AI technology that is also useful in the realm of higher education. In this setting, the VA can transform the university and college experience by helping students access the information they need when they need it. It can also help universities manage the inquiries and communications they receive from students and the general public.

How Students Can Use AI Powered Chatbots

AI Powered Chatbots make it possible for each student to individualize their on-campus experience and education. From asking questions regarding registration to finding out where the nearest campus coffee shop is to getting help with their work, an AI Chatbot is there to help students. There are many ways that students can enhance their college experience with an AI Chatbot such as:

  • Act like a teacher’s assistant, with 24/7 availability to answer student questions and complete tasks more quickly than a human assistant
  • Provide individualized teaching methods to help students learn better and more efficiently
  • Help international students with application and administration support using multi-language capabilities.
  • Provide students with reminders, on-campus information, help connecting with tutors, and answers to questions about facilities and life on-campus
  • Connect students with the on-campus support and processes they need to ensure their success and post-secondary education transition is as seamless as possible

AI Chatbot technology is advancing quickly, improving its capacity to provide more intuitive guidance for each student based on their individual needs.

How AI Powered Chatbots Can Help Universities

Universities have a limited staff that needs to service a very large student body. If enrollment grows, hiring more staff can be costly. With the use of a AI Chatbots, a university can easily and efficiently service a large student body by deploying an AI Chatbot to:

  • Answer standard student questions
  • Provide information to students quickly
  • Flag more complex questions or problems for staff to take care of
  • Free up staff to have more one-on-one time to help students where they need it most
  • Act as a teacher’s assistant for online and virtual learning environments
Introducing TIA – Tangentia’s Intelligent Automation Chatbot powered by IBM Watson

TIA can be built, trained, and deployed to provide individualized conversations via any application, device, or channel. It has the capability to:

  • Learn from minimal data
  • Process unstructured data
  • Handle massive amounts of data
  • Act as a decision support system for students
  • Be deployed on the public cloud and on-premises networks
  • Recommend improvements to the system
  • Rely on people or its own search engine as fallback

These capabilities provide higher education institutions with the means to offer the following services:

Language:

  • Assistant
  • Document Conversion
  • Natural Language Classifier
  • Natural Language Understanding
  • Tone Analyzer
  • Retrieve and Rank
  • Personality Insights
  • Speech:
    • Speech to Text
    • Text to Speech

Vision:

  • Visual Recognition

Data insights:

  • Discovery
  • Knowledge Studio
  • Discovery News

As an example of the use of TIA, an IBM Powered Watson Chatbot, a Canadian University was looking for a chatbot digital assistant that would allow the Office of the Registrar to improve their response time to student inquiries, particularly with online inquiries via email and direct chat services. With more than 80,000 emails, 71,000 phone calls, and 37,000 in-person inquiries, staff was frequently overwhelmed and working overtime to keep up.

Tangentia was chosen as the service provider and to demo their TIA Chatbot to the University. We trained the chatbot to help students and website visitors find the information they needed quickly and easily. In addition, we were able to provide smart integration with the University’s website and include live agent integration. Not only that, but we worked closely with the IBM Watson AI team and had a working chatbot demo built within five days!

Contact Tangentia today for more information and to schedule a POC on the IBM Watson Virtual Assistant and TIA.

Get Started Today

Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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How Automation Can Help Insurance Companies Change the Way They Do Business

  • How Automation Can Help Insurance Companies Change the Way They Do Business

    By Gauri Shirur D’souza

Automation. It’s that one word that every industry is starting to become familiar with. The idea
of an autonomous system is quickly becoming the norm in many industries—the insurance industry included.

Insurance companies stand to gain a lot from implementing automation into their workflows.While this traditional industry is often cautious, procedural, and afraid of change. Having access to an innovative technology that can greatly optimize labor-intensive processes is essential for insurance companies looking to maintain market dominance.

The COVID-19 pandemic has demonstrated the need for digitization and the implementation of new technology. Companies have been forced to think and act differently. And in the insurance industry, this has meant embracing change.

Automating Insurance Processes

There are several use cases on how RPA can transform the way an insurance business functions.
Here are just a few of the main benefits that an RPA solution can offer an insurance company.

1. Claims: Insurance companies are flooded with claims. Some companies say claims have tripled. This has led to increased pressure on the assessor, delayed processing, and decreased customer satisfaction. RPA can add value to this process. Bots can read documents, access different systems, update records, and provide claim decisions. Not ready to give that much control to a bot? You can implement a hybrid system that lets your bots do the heavy lifting and leaves the decision-making to humans.

2. Underwriting: With changing lifestyles, the approach to underwriting needs to change.Underwriting isn’t a one-size-fits-all scenario. RPA can move a majority of the underwriting to Straight-Through-Processing. This will enable underwriters to focus and underwrite critical cases, analyse trends, and more.

3. Customer On-boarding: Building a digital front with access to both the customer and the sales agent where the bot reviews the information and completes the back-end processing is vital to simplifying the on-boarding process.

4. Policy Administration and Servicing: A bot can calculate changes to premium and send reminders to customers to pay outstanding premiums. A chat-bot can also answer questions related to policy status, renewals, and provide other relevant information with 24/7 service.

5. Reconciliations: RPA can assist in quickly matching premium amounts to the policy, allowing your employees to focus on exceptions.

6. Finance: Finance automation is one of the first places most companies implement an RPA solution. There are countless use cases for automating invoices, payroll, expenses, and other finance tasks.

7. Policy Cancellations: Bots can calculate the payout amounts and update records across systems far quicker than a human can.

8. Fraud Identification: Cognitive RPA can quickly analyse transactions and provide alerts or handle suspicious claims.

RPA Advantages for Insurance Companies

1. Error free processing of transactions

2. Increase in efficiency, faster processing of transactions and accurate data entry

3. Change management is easy and quick

4. Easy implementation with storefront BOTs

5. Can integrate with legacy systems

The biggest benefit of RPA is that it allows employees to focus on their core tasks, leaving the
bot to take care of the administrative and transactional aspects of a transaction.

Why Is Now the Right Time for RPA?

Almost every business has had to transition to a digital model overnight. Employees are now
working from home and sales teams cannot meet their customers. Companies need to transform how they deliver exceptional customer experiences and improve internal operations.

Digital processing through an RPA solution is one of the easiest ways to achieve this.Implementing an RPA solution will improve your operational efficiency, customer experience,and so much more.

Get in touch with us today to learn how RPA can transform the way you approach your core workflows.

Watch our on-demand webinar to learn how financial institutions can quickly and easily implement RPA today with Tangentia and Automation Anywhere.

Get Started Today

Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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5 Things to Consider when Choosing a RPA Partner


  • 5 Things to Consider when Choosing
    a RPA Partner

Robotic Process Automation (RPA) is becoming increasingly popular in many industries. PwC conducted a survey of the financial industry in which 98% of the respondents said they believe RPA implementation is “important, very important, or extremely important.”

The reason for this overwhelming support for RPA is simple. The use of RPA to automate many of the repetitive tasks that use up too much in terms of human and financial resources is helping companies lower their overhead costs, increase productivity, and streamline their operations.

However, with the increasing use of RPA, it can be overwhelming when trying to choose the right RPA partner for you. Yet, choosing the right partner is critical to the success of your business. With this in mind, here are the five things to consider when choosing an RPA partner for your organization:

1. Powerful automation portfolio

The very first thing you need to do is take a close look at the RPA partner candidate’s automation portfolio that shows what they have to offer. This portfolio of offerings, including their methodology, the support they provide and the commercial model they use, is critical to your RPA success. You also want to know things such as:

  • Whether they are involved in RPA research and innovation
  • What their automation solutions cover – back office, front office, etc.
  • The size of business for which they offer RPA– small, medium, large, or enterprise
  • The platform they use for data capture and document/form processing
  • Whether there is easy integration with existing systems, ERP/WMS/carriers, and eCommerce platforms
  • Whether they offer support for multiple configurable user accounts
2. Proficient business tools

You want to be sure that the RPA partner you choose will be able to provide you with the very best tools to ensure robust automation delivery capabilities. This means that RPA partner will, in turn, rely on partnerships with RPA product companies, such as Jiffy.ai, ABBY FlexiCapture, BluePrism, Automation Anywhere, UI Path, and winautomation. These products should provide things like:

  • Intelligent automation
  • Cognitive document processing
  • Audit, tracking, and update tools
  • The ability to gather data, analyze it, and gain insights in real-time
  • The ability to manage credentials, set security restrictions, and allow role-based access at the task level
  • The ability to automate desktop applications
  • OCR capabilities
  • The ability to multitask

This should all be offered for a competitive price and come with full technical support. In addition, your RPA partner should be fully certified to deliver RPA solutions and experienced in implementing those solutions in your industry.

3. Scalability

In 2020 scalability will be a big focus area for organizations, when it comes time to choosing an RPA partner. Ensuring the RPA platform you select is fully scalable and will meet the needs of your business as they change will help maximize the benefits and long-term ROI. This means that you will be able to use the bots across multiple processes, regardless of variations in process volumes, and have a solution that works as your business grows.

4. Global compliance with robust security

Be sure your RPA partner has a level of process oversight that will meet regulatory compliance and ensure the protection of all data. This includes saving data and information related to automated workflows in an activity log that provides a clear record of all data flow and transactions, ensuring you are prepared for any internal or external audits that may be conducted.

5. Proven automation blueprint

Look at the RPA partner’s track record and clientele. It is important that you can see they have a proven automation blueprint that has successfully worked for other organizations, particularly those in your industry or sector. Take a look at who their customers are and pay attention to ratings and reviews of their products, so you can get a good feel for the success of their automation solution.

Ultimately, when you are looking for an RPA partner, you need to be sure that their expertise and capabilities meet your specific needs. Tangentia has the proven track record, the tools, and the innovative spirit to help you get your RPA off the ground.

Get Started Today

Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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RPA in Banking – The next big thing

  • RPA in Banking
    The next big thing

    By Gauri Shirur D’souza

If this pandemic has taught us all one thing, it is that the future is uncertain. And though there may be business disruptions, life and business must continue. This pandemic has also laid bare the unpreparedness of large industries and companies who have invested heavily in Information Technology, but the processes are still
largely manual.

And this has definitely affected customer experience and satisfaction . If we were to conduct a survey today, we would realize that customer experience is negatively affected. The reasons for customer dissatisfaction are mainly delay in response time, inadequate information and non-transparency. If RPA was deeply entrenched in the system, it would have enabled Banks and other financial service institutions to respond quickly and more efficiently to this new normal.

Automation of Banking Processes

There are a few use cases for RPA in Banks. But these have so far been restricted to fraud detection and customer service to name a few. Some of the areas where RPA can provide immediate benefit can be as follows:

  • Loan Life Cycle: Right from loan origination to credit assessment, RPA with a boost from Machine Learning can provide Banks with quick, efficient and scalable operations. In the current scenario, RPA can accelerate credit assessment for forbearance cases.
  • Account Opening: Cognitive BOTs can read documents, enter data and process transactions and enable Banks to open accounts quickly and with zero data entry errors
  • Finance: There are use cases across industries on how Finance is the low hanging fruit for RPA
  • Reconciliations: RPA can ensure zero errors in reconciliations leaving only exceptions to be handled by the employee. This intervention too can be eliminated on adding a Cognitive BOT.
  • Compliance: BOTs can help with not just creating forms for submission to the regulator but also scan different websites for updates to the sanctions list / block lists etc.
  • Audit: Data based analysis and checks can be done by the BOT leaving the employee to focus on key risk areas and controls
  • Fraud detection and prevention: A BOT can be programmed to flag suspicious entries in account(s) to a team for review.
  • Account Based Charges – BOTs can be programmed to run specific scans and identify and accounts for charge application or blocking as per the Bank’s policy

These are only a few areas where RPA can be integrated into the Bank’s processes.

Advantages to the Bank

a) The biggest benefit is that the employees can focus on their core competencies and leave mundane, repetitive tasks to the BOTs

b) RPA with a mix of Machine Learning can increase efficiency and accuracy in transactions and data entry

c) Implementation is quick due to availability of storefront like BOTs

d) RPA integrates with existing frameworks and systems and does not require a change in infrastructure

e) Change Management is easy and there are use cases where changes have been done in a matter of days

Mind Block to RPA

Banks are often looked at by governments as vehicles to add stability to the economy. This is also reflected in the large workforce most Banks carry. One of the biggest fears people have is that building a digital workforce will eliminate the need for a physical workforce.

That is not entirely true. The employees will instead be used for their core competencies. Employees will provide oversight, handle exceptions and take judgement calls based on experience. The goal of RPA is to improve operational
efficiency and not eliminate workforce.

So while a few Bank may have deployed chat-bots, the uptake has so far been slow. But now is the time when the banking industry must invest and build a digital workforce. It will not only improve efficiency and accuracy but also strengthen our defenses and readiness for the next disruption.

Watch our on-demand webinar to learn how financial institutions can quickly and easily implement RPA today with Tangentia and Automation Anywhere.

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Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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