Intelligent automation delivers the business outcomes you need
These are exciting times for CFOs. There is growing anticipation in the boardroom that technology and automation will finally deliver the promise to connect business information and business performance.
Data, information and analytics is at the center of the agenda, and this is both driving and enabling Finance to respond to next-generation challenges. Coupled with that, automation is opening up many opportunities to do more with less—meeting the frequently demanding, often conflicting requirements of all key stakeholders, from employees to customers, and from auditors to shareholders.
The opportunities offered by automation technology are limited only by imagination and mindset. But to ensure automation delivers on its promise, it is crucial to have the right approach to planning, implementation, and the targeted selection of appropriate pilot projects.
Intelligent automation can help finance leaders achieve the business outcomes they need in terms of revenue growth, profitability, working capital, and delivering customer satisfaction, both internally and externally.
Unlock value from your F&A function
Talk of automation, robotic process automation (RPA) and cognitive computing can be extremely pervasive. It promises a revolution across every aspect of your business, no more so than in your finance and accounting (F&A) function. But how much of that promise is real? And how do you determine what is fact and what is fiction?
Around 50–70% of effort across F&A is currently spent on actually recording information rather than reporting, analysis or working with the business to take action to improve business outcomes. Intelligent automation can reduce your effort in recording transactions across sales, supply chain and accounting, enabling you to focus more on analysis and decision-making, as well as monitoring transactions throughout the cycle to improve compliance.
Capgemini’s Finance Powered by Intelligent Automation (FPIA) helps you to navigate the myriad of products, tools and services, enabling your business to benefit from an intelligent solution that combines automation, digital platforms, know-how and insight. This transforms your finance function to deliver enhanced efficiency and top-line growth to your business, without compromising the service you provide to your customers, the assurance you bring to your shareholders and the service you receive from your suppliers.
Reimagine the future of your finance function
Finance Powered by Intelligent Automation leverages Capgemini’s Automation Drive framework to add value to your finance function.
The Automation Drive framework takes an “automation first” approach to understanding technology, and is based on the observation that almost every solution in which artificial intelligence (AI) is involved consists of five elements. These elements are a mix of senses, experiences and knowledge that combine to deliver intelligent automation solutions with responsive, relevant and intuitive user experiences. Together, the senses showcase how the real “intelligence” within automation and AI is less artificial and more intuitive.
We call these the “Five Senses of Intelligent Automation,” and they are key to how we are reimagining our clients’ finance function:
- WATCH/Monitor—the ability to monitor and record key business data in order to create knowledge.
- TALK/LISTEN/Interact— the ability to interact with end users of the artificially intelligent solution through listening, reading, talking, writing and responding.
- ACT/Service—the ability to use to carry out actions through service.
- THINK/Analyze—the ability to detect patterns, recognize trends and analyze information.
- REMEMBER/Knowledge—the ability to store and find information and knowledge effectively using components such as databases and search engines.
Intelligent automation uses enablers for each of these senses to deliver the following outcomes:
WATCH/Monitor—Capgemini’s Inspect tool monitors your payment transactions and applies algorithms to analyze the risk of duplicates based on experience and knowledge of the risk. For example, obtaining data analysis results more quickly enables our teams to continuously monitor and improve the quality of the services we deliver to our clients.
This can result in:
- Up to 100% accuracy of payment through proactive identification of potential duplicates..
- 5% increase in on-time payment to your vendors.
TALK/LISTEN/Interact—we combine our robotics solution with Celaton’s InSTREAMTM intelligent character recognition (ICR) technology to create robots that can read and interpret incoming data. For example, our iLogic solution reads and triages your incoming unstructured data to accelerate resolution of disputes. This can result in:
- 4.6-day reduction in dispute resolution time.
- Up to 80% automation of query indexing.
ACT/Service—we combine RPA with Celaton’s InSTREAMTM solution to create robots that can read and interpret incoming data—improving the efficiency and effectiveness of our processing. For example, we leverage ICR and RPA for increased efficiency and improved accuracy of your processes. This can result in:
- Over 30% improvement in efficiency.
- 20% improvement in bank statement booking processing time.
- 25–30% improvement in bank reconciliation processing time.
- Up to 30% improvement in cash flow reporting.
THINK/Analyze—Capgemini leverages the Insights 360° platform to deliver CFO dashboard and analytics. This has resulted in, for example:
- 2–4% cash impact on accounts receivable (AR) through dispute resolution, collection performance, and term management.
- 2–4% cash impact on accounts payable (AP) through expense category management, vendor term management, and payment optimization.
- 10–12% overall spend reduction across levers on addressable spend.
REMEMBER/Knowledge—Capgemini leverages Transversal’s Prescience™ to improve your knowledge management. This can result in:
- 60% reduction in query volume
- 70% reduction in query handling time.
- 80% improvement in time to operate.
- 50% improvement in customer experience scores.
Connecting these “senses” creates the foundation and platform to deliver intelligent automation.
Re-engineer the current state of your F&A
Capgemini’s ESOAR (Eliminate, Standardize, Optimize, Automate, Robotize) methodology re-engineers your processes, and sets the agenda for a holistic approach to transformation of your finance function.
ESOAR is all about reimagining your F&A processes in the light of intelligent automation, enabling you to implement straight-through processing and automated solutions while delivering the best impact and outcomes to your business users. ESOAR identifies opportunities to eliminate processes up front if necessary, and enhances your existing investments in technology
It’s not just about technology!
Building an automation-led transformation program is not just about process and technology. Capgemini also reviews the impact changing technologies can have on your grade mix and capabilities, which drives change and supports your business in the future. Knowledge can be hardcoded into your processes using automation that enables your finance teams to augment their abilities, as we shift from record to report, analyze, and action.
Our Global Enterprise Model® (GEM) has evolved to incorporate the impact of automation, covering technology-rich digital operating models that support credit-to-cash (C2C), procure-to-pay (P2P) and record-to-analyze (R2A), as well as the requirements of the skills and capabilities needed to support these operating models.
As practitioners as well as consultants, Capgemini is uniquely positioned to help you reimagine your F&A for the automated age. As one of the world’s leading technology providers, we have a rich history of transformation, with renowned, market-leading F&A services underpinned by a strong tradition of innovation powered by intelligent automation. We have already implemented more than 2,500 robots and built our renowned Insights 360° analytics platform.
This combination of technology, methodology and a deep pool of more than 15,000 finance and accounting experts—including tax, analytics and controller specialists—means that we work with you in a truly collaborative manner to deliver accelerated value while minimizing risk to your business.
We are winners!
Capgemini and UiPath, a leading vendor of RPA software, were recognized as winners of an Aecus award for the development of a unique, integrated RPA solution for enterprise-level implementation of process automation and system integration.