22 Benefits of Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is a relatively new technology that has already firmly claimed its spot in improving the productivity of organizations alongside tried and true methodologies such as lean and six sigma. We’ve put together a comprehensive list of 22 RPA benefits based on our many years of experience implementing RPA solutions with Financial Services, Insurance, Telecommunications and Healthcare clients.

1. Decreased costs. Cost savings of approximately 80-90% can be achieved when a business process performed by an FTE is replaced by a software robot.

2. Freeing up staff for higher value tasks. Automation of repetitive and time-consuming processes frees up your staff to make a more value-add contribution.  For example, when assessing an insurance claim more time can be spent in the assessment as opposed to populating the same data into 5 various systems.

3. Increased employee engagement. When staff can focus on high-value tasks they often feel more invested in the work they are completing. When implementing RPA projects, we often see staff engaging in repetitive activities e.g. copying data between 10 different systems while completing a single customer request, with RPA they can serve an additional 3 clients instead.

4. Reduced operational risk. RPA reduces the rate of errors because robots make less mistakes. Avoiding purely human mistakes, such as those made while tired, or by deviating from the process, means a lower level of operational risk.

5. Reduced output variability. Robots are great at duplicating tasks consistently with little to no distinguishable variability. It ensures that similar tasks are handled in the same way e.g. underwriting for insurance policies is consistent across the same risk groups.

6. Reduced paper use/waste. RPA forces digitization as it requires that companies have the data and files being manipulated by software robots in a digital form. Work that in the past may have been done partly or in full on paper, by an FTE, can now be purely electronic.

7. Driving process improvement. In an automation project you often first analyze and then simplify (where possible) the processes to be automated, creating more manageable processes (for both people and machines). For example, if you have 10 different ways to set up a new client in your system, it would make sense to streamline this process first and then automate it.

8. Increased output. Automation allows for work to be done 24/7/365 without people fatigue, or quality variance. Often, customers want to interact with service providers outside of a 9-5 timeframe—on evenings and weekends—automation allows you to offer this level of service.

9. Higher speed and throughput. Customers receive expedited service as machines are able to process requests in real time. e.g. credit checks, etc.

10. Improved customer experience. By deploying RPA you free up expensive and high-value resources, FTEs, from more menial and repetitive tasks and put them back on the front line assisting your customers.

11. Improved internal service levels. With RPA things like internal reports can be delivered faster and without mistakes, new employees can be set-up very quickly, and even IT issues can be enormously accelerated.

12. Defined governance structures. RPA forces companies to define clear governance structures around IT applications by forcing organizations to agree on who owns each application. Leading to a clearer definition of access rights for each application, since robots, like humans, will need to use the same access.

13. RPA does not require substituting existing IT systems.  An RPA virtual workforce uses all the same systems your FTEs use. This is one of greatest advantages of RPA in comparison to other automation solutions. In the past, Business Process Management solutions and workflow management tools had to be integrated with each application they interacted with. RPA simply uses the existing systems in the way your FTEs would.

14. RPA is Scaleable. Being able to easily scale up or down your operations as needed ensures that companies can make adjustments based on seasonality. In the insurance sector, for example, a virtual workforce can be ramped up in order to process snow/hail claims in the winter, flooding in the summer, etc.

15. Virtual workforces are highly secure. Managing IT security for RPA robots is very simple as they do not change roles, leave the company, or retire. They also don’t hack your data.

16. Increased expertise in core domains. By automating simple tasks, your company can develop increased expertise in your core domains, such as developing more sophisticated fraud analysis, and/or creating more accurate underwriting algorithms.

17.  RPA eliminates customer pain points. A successfully implemented virtual workforce can enhance your customer’s experience and eliminate common customer pain points. For example, traditionally when processing a loan the customer has to fill out several forms, submit required documents. These are then sent for processing, review and approvals. The overall process can take several weeks, with multiple human touch-points, after which the customer gets a feedback on the status of their loan application. With RPA, a robot can take over the complete process, reducing turnaround time to a few days or less.

18. Impact is delivered quickly. From the moment when robots are in place – a matter of weeks – organizations start seeing benefits. The Burnie Group’s typical implementation timeline for RPA projects is approximately 8 weeks.

19. Improved capacity for SLA analysis. RPA solutions allow management to know the progress of SLAs in real time. Dashboards tracking the output of your virtual workforce address a frequent problem of operations and back-office managers – understanding where his/her team stands and how volumes are evolving.

20. High-quality processes and output. Similar to a recipe being created by a five-star cook, a robot’s decision making logic is designed by your best SMEs, ensuring high-quality output. Your SME transfer knowledge of best practices with the RPA team ensuring your virtual workforce is performing at the highest standard.

21. Better record keeping. Robots always document what they’ve done, not only leaving a clear audit and control track, but also allowing for easy recovery after unexpected shutdowns.

22. Being an innovator. RPA is a cutting edge technology that is dramatically changing back-office operations enabling greater innovation by freeing up human labour to focus on idea-generating.

While RPA has many benefits, there continues to be a clear need for humans in the workforce. The question is no longer which jobs will be replaced, but rather, what work will be redefined, and how? In the future, most processes will consist of a mix of human and machine labour. Nothing will be fully automated. Even at the most highly automated production plant you will see there are still humans working.

Automation allows for traditional jobs to become more fluid, ensuring more effective human labour. With freedom from high-volume, low complexity administrative work, humans can continue to drive and innovate in areas such as customer service, expertise-based tasks, the development of new products, etc.

This article is just a glance into the world of RPA topics – should you be interested in exploring RPA opportunities in your industries or want to understand how to apply or deploy RPA in your organization, please contact us for a free no-obligation discussion. We look forward to hearing from you.

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6 Fatal B2B Sales Mistakes You Must Avoid

Image credit: Patrick Foto | Getty Images

Say yes to face-to-face meetings with the power players.

Marc Wayshak

GUEST WRITER

Sales Strategist and Author

B2B sales can be incredibly rewarding and lucrative -- if you know what you’re doing. Unfortunately, most salespeople in this field make the same few mistakes again and again. When everyone around you is making the same missteps and blunders with B2B selling, it can be extremely difficult to know how to fix your approach.

If you’re looking to overhaul your strategy for B2B sales so you can start to crush your competition, it’s time to start actively avoiding the most common B2B sales mistakes out there today. Here are the six fatal B2B sales mistakes you’re probably making:

1. Selling to low-level buyers.

It may be easier to get in front of buyers and purchasing managers than C-suite prospects, since you never have to deal with a gatekeeper in order to reach them. But those low-level buyers don’t have the power -- or the budget -- to tell you “yes.” In fact, they’re only really good at telling salespeople “no.” You won’t make money selling to low-level buyers in B2B sales, so make a commitment to seek out high-level decision makers who can actually say “yes” to what you have to offer their businesses.

2. Highlighting your product’s features and benefits.

There was a time when prospects cared about the features and benefits of your product. But they simply don’t anymore. Prospects today only care about the results and outcomes you can create in their world. More specifically, they want to know how you can solve their key challenges and deepest frustrations. Instead of highlighting your product’s features and benefits when selling to businesses, focus on specific outcomes your product or service can help your prospects achieve.

3. Giving proposals with only one option.

One of the biggest mistakes salespeople make in B2B sales is putting together single-option proposals. There are two major problems with these proposals. First, they don’t provide any context, which compels prospects to shop around to determine the value of your solution. Second, customers who really want to invest in a premium option will be limited to a lower-tier solution. Instead, provide a three-option proposal -- ranging from the lowest end option that will still solve their problem to a higher end option with the most value -- to boost your average sale size and the number of deals you close.

4. Relying solely on the phone and internet.

There’s been a big movement in B2B sales towards selling online and on the phone. In some cases, this can be efficient and helpful, but if you’re selling an expensive, high-end product or service that requires a serious investment, you simply can’t skip out on meeting face to face. Hop on a plane if that’s what it takes to sit across from a valuable prospect. You’ll increase your close rate many times over, and being able to close big deals at huge companies is well worth the cost of travel.

5. Failing to clarify your value proposition.

Every time a B2B prospect asks what exactly it is that you do, you should have a quick and rehearsed response that succinctly describes the value you create. Clarify, script out, and memorize your value proposition. This is the only part of your sales presentation you have to memorize, so there’s really no excuse for hazy, rambling answers to this question.

6. Rushing to offer deals and discounts.

Low prices only attract bad prospects in B2B sales. Your ideal customer cares about value, not price, so quit offering deals and discounts. It only lowers your value in the eyes of your prospects. Instead, focus on the value you create, and be proud to offer the premium solution on the market. This attitude will attract the type of customer who values you for years to come.

Which of these mistakes have you been making in B2B sales? How will you correct your mistakes and start crushing your sales goals? Check out this free Ultimate 3-Step Prospecting Call Template for more powerful sales advice.

https://bit.ly/2yFbqAh

Your 8-Step Guide to Make the Ultimate First Impression

I waited to deliver this post until we were in a season when people could benefit most. This is a time of year when people attend holiday parties and other functions and meet many new people. I thought it would be ideal to provide your 8-step guide to make the ultimate first impression.

I promised myself I’d skip all the obvious tips such as being on time, proper grooming, speaking clearly and so forth. If you’re taking the time to read this, I owe you my experience.

That experience comes from nearly three decades of consulting. I’ve spent the last decade speaking with or meeting an average of 3,500-4,000 new people every year!

We’re talkin’ actual human interaction—the kind that existed before the invention of email, the Internet, and social media. You simply can’t use the delete key or de-friend button if you want to stop the pain.

Do you remember when the only time you could halt rude people was to cry Mommy, make it stop or risk offending them directly to their faces or ears? Of course you don’t.

Believe me. That time once existed.

Today, the most successful and happy people still engage interpersonal communication techniques that existed once upon a forgotten era.

What should you do when the time arises?

Observe

Your first impression starts with your body language. Oftentimes, this occurs before you’re aware you’re making an impression! Someone might notice you from afar. Your body language, overall posture, and demeanor send a message that echoes like you yelled it in a canyon. Be aware of your surroundings.

Smile

Do you realize even though the corners of your mouth need to rise, smiling takes less energy than frowning? People respond to this because you appear warm, welcoming, and nonjudgmental. They want to share themselves with you and learn about you. If you smile (sincerely), you’ll increase your chance of making a positive impression by more than 90%. Take the odds. There, of course, will be an extremely small percentage of cynical people you won’t be able to connect with. No loss. You don’t need them in your life no matter who they are or what (you think) they offer.

Stand

If you’re smiling and can’t get off your rump (those with ailments and elderly ladies aside), you’ve completely erased the benefit of your smile. You’ve just “said,” you’re not worth it for me to rise. Ouch. Standing also allows you to open up your body language to a more inviting posture.

Shake

Shake hands firmly, which means no dead-fish handshake. Squeezing implies engagement. Dead fishing…not so much. I don’t care whether it’s a man, woman, child, or dog, give them a good shake. I don’t care if you’re in the middle of your $58 filet mignon; make sure you’re standing when you do it. If you’re wearing a hat, cap, bandana, headband or whatever else people wear on their heads these days, take it off. It’s a polished move and shows you’re respectful and cool.

Introduce

Introduce yourself with a smile on your face and simultaneously look them in the eyes as you give their palm a good squeeze.

Repeat

Repeat his or her name so you hear it for yourself. This will help you remember it and also give them a chance to correct you if you heard them incorrectly. A simple, “Hi John. Nice to meet you,” will do the trick. Then, use his or her name optimally. I said optimally. Don’t overuse it. That’s annoying. Don’t underuse it. You risk forgetting it. Why else repeat? The sound of one’s own name is one of the most pleasing sounds anyone hears. It just is.

Ask

This is one of the most important steps. It’s what truly endears you to people. Withhold simply asking people what they “do.” It’s lazy. They also have no idea why you want to know.

Did you know that whenever you request something—anything—you increase your chances of getting a “Yes” by more than 50% whenever you share your “because?” That statistic holds true even when your “because” is flimsy.

I prefer one of two alternatives that can be used in virtually any setting.

The first alternative is to ask them what they love. Try something such as, “John, what is it you love to do?” You can tack on some multiple choices—hobbies, play, work and so forth. Rarely will their passions coincide with what they do for a living. (Sad, I know. But, there’s no reason to risk it.) Get them talking about what they love! People light up when they speak about something they love. You just ensured they would be speaking about something positive as opposed to running the risk of asking them about jobs they loathe.

The second alternative is the one I truly love. It’s a two piece-r. Show them you’re a giver. (You need to mean it sincerely or they’ll smell the deceit.) Try something such as, “Jane, what do you do for work or with most of your time?” The reason I ask is because I’m a [insert whatever you do]. I’m always interested in ways I can help people.”

The reason the “most of your time” is required is because you have no clue whether they are working, volunteering, staying at home to manage the children, and so on. Give them appropriate segues. You’ll think of me the first time you use this technique and receive an unexpected response. Email me when it happens. 

Listen

Then shut up and let them talk.

I always love to hear from you: What are your best first-impression tips?

By Andrew LaCivita

What is human capital management?

According to Gartner, the human capital management definition refers to a set of practices related to people resource management. These practices deliver core competencies to the organization, including talent acquisition, workforce management, and workforce optimization. The most successful organizations maximize value by utilizing human capital management (HCM) software to unify these competencies into a single platform. Learn what is human capital management and how HCM can help your company find, train, and retain valuable employees.

THE FUNCTIONS OF HCM

For a more detailed HCM definition, let’s examine the list of functions that impact an organization’s people resources. Leading organizations implement HCM solutions that effectively manage people-related functions including:

• Core HR Administration—personnel, benefits, payroll, rules/compliance, and employee self-service.
• Strategic support to optimize employees—workforce planning, talent and performance management, training, recruitment, onboarding, time and expense, workforce analytics, and workflow.

WHY HCM IS IMPORTANT

About three-quarters of respondents in a recent survey said that HCM is important or very important. In today’s dynamic workplace, organizations must act proactively to find and keep the best talent, increase productivity, and engage employees. Some of the workplace trends that make HCM a crucial tool for organizations to stay competitive include:

• Changing demographics and work styles.
• Flexible work arrangements including contractors and remote workers.
• Complex and ever-changing compliance requirements.
• Increasing reliance on HR data and workforce trend analysis.
• Importance of brand and company culture to effectively attract and retain talent.

THREE WAYS TO ENHANCE HUMAN CAPITAL MANAGEMENT

The most successful firms are adopting HCM strategies to maximize efficiency, simplify recruiting, and embolden the management and development of employees. Here are three best practices you can use to increase competitiveness and maximize your human capital:
1. Acquire the best talent.
Nearly 75% of employers struggle to fill positions with the right candidates. It’s crucial for businesses to focus on improving talent acquisition practices. HR professionals and recruiters increasingly use artificial intelligence (AI) to automate routine recruiting tasks, freeing up more time to focus on strategic needs and improving the candidate experience. AI provides support to quickly match applicants to keywords, communicate with job candidates, and even schedule interviews. Recruiters use chatbots to help recruit talent faster and eliminate communication gaps. Additionally, the most successful businesses are improving onboarding programs so that recruited talent gets up to speed quickly and feels connected to company culture.
2. Effectively manage talent.
To ensure job satisfaction, engagement, and productivity levels are high, HR professionals must provide an excellent employee experience. More HR managers are using AI-driven HCM solutions to increase efficiency as well as embolden employees to access what they need when they need it. HR’s goal must be to focus on employee happiness—a combination of meeting workforce needs and giving employees the tools they need to work smarter. Be sure to provide user-driven, automated solutions that simplify time and attendance, payroll, performance management, and rewards and recognition programs.
3. Optimize talent.
According to the UK’s CIPD, human capital is the “collective capability, knowledge, and skills of the people employed by an organization.” That’s why leading organizations don’t stop at just hiring and managing talent. To retain employees and maximize this valuable resource, businesses must make investments in career planning, training and development, and succession planning. Use integrated HCM solutions to identify skill gaps in your workforce, offer training recommendations to enhance job performance, and forecast future hiring needs.

ELEVATE HOW WORK GETS DONE

Improving your human capital management strategy paves the way toward a smart office, enabling your business to win the war for talent, space, time, and capital assets.

What is smart office?

According to recent research, the global smart office market will reach nearly 50 billion dollars by 2024. But what is smart office? A smart office is a workplace where technology enables people to work faster and more effectively. Fortunately, there are many smart office design layouts and smart office products that businesses can implement to make an immediate positive impact on productivity. Organizations design smart offices by integrating advanced technologies including smart devices and sensors to simplify operational processes and minimize costs. Learn about the smart office and how your firm can benefit from smart office software.

SEVEN QUALITIES OF A SMART OFFICE

Leading consulting firm Deloitte describes smart buildings as “digitally connected structures that combine optimized building and operational automation with intelligent space management to enhance user experience, increase productivity, reduce costs, and mitigate physical and cybersecurity risks.” The most successful businesses are using network-enabled IoT devices, cloud storage, sensors, and biometric identification to create flexible workplaces that boost productivity, increase employee well-being, reduce energy consumption, and enhance security. Here are seven ways a smart office can positively impact your business.

1. SIMPLIFY ROUTINE TASKS

Smart office software provides employees with the information they need to perform tasks faster. Whether it’s quick access to enter timecard information, workflow for process automation, or data support for decision making, smart office software gives employees the tools needed to elevate the way work gets done. A smart office is able to process, monitor, and manage data within the building to identify patterns and develop strategic plans that improve operations.

2. IMPROVE EMPLOYEE AND OFFICE SCHEDULING

Smart office software makes it easier to track and manage schedules using reports, smart devices, and automated systems. Make room or desk reservations and request other needed services quickly and easily. Using smart office products, employees get visibility into coworkers’ schedules to ensure key personnel are available to attend important meetings.

3. MINIMIZE COSTS

Connecting smart office products like sensors to building management or automation systems enable firms to control energy consumption costs. In a smart office, businesses gain visibility into levels of occupancy and the environment to make real-time lighting and temperature adjustments and optimize office space.

4. ENHANCE COMMUNICATION

With today’s distributed workforce, smart office products make it easier for employees to connect and communicate from any location. This allows team members to collaborate in real-time and speed decision making.

5. IMPROVE EMPLOYEE WELLBEING

Smart office products enable your business to monitor environmental factors that affect employee health and comfort. Leading organizations are using this data to make the working environment a healthy and happy place for employees to boost productivity, wellbeing, and loyalty.

6. ENHANCE SECURITY

Using identification trackers, biometric authentication tools, and facial recognition technology enables your business to confirm the right employees are present when they clock in and out. This information helps ensure your employees are safe at work and also prevents time fraud.

7. ATTRACT AND RETAIN THE BEST TALENT

According to a recent study, 90% of respondents saw a business reason for working in a smart office and 87% would require smart office technology in their next move. With smarter office space design and utilization, companies can improve employee experience, support flexible work arrangements, and attract and retain the best talent.

PROVIDE A SMART OFFICE FOR YOUR WORKFORCE

Take steps now to leverage smart office products to positively impact productivity, employee wellness, and your bottom line.

14 хитростей для бумажных коммерческих предложений

Why and how not to be insecure leader

Jayesh Khatri

Everybody has their insecurities either personal or professional front. If we talk about professional front, I am sure you are aware that when your boss is insecure, his insecurities can rule your career prospects. You'll never know what to expect of him. His actions are chosen to make him feel better, even at your expense. Dealing with an insecure boss is like playing catch with a knife — you never know when you might get cut.

Insecure managers do anything to make themselves feel and look better, even if it means cutting you down or cutting you out, isn’t it? They believe they will sustain or grow being what they are, but the fact is limit for their growth is not wide or high….Imagine if you are an insecure boss, just think about your team members…

Insecure leaders by their actions, will eventually create an insecure organization, riddled with anxiety, distrust and indecision. People will spend more time looking over their shoulders than looking ahead. Good defenses become more important than effective offenses. Such insecure leaders will deep dive in micro managing, blaming, defensing, overcompensating, Failing fear rather deep diving on issues and resolution, developing people, nurturing people, taking bold decisions keeping organization interest first…Now tell me, will they hire smart people? Of course no? then how the organization will develop and grow?

Before mentioning how not to be insecure, first we should know that we are insecure? In one of the articles written by Lolly Daskal, she has uncovered an insecure leader by identifying following signs which sounds of being insecure leader;

1. Shying away from challenge

• You don't like to take risks because you lack confidence in your ability to succeed.

1. Positioning yourself to look good

• Your focus is about how you are presented rather than how well the mission is being met

1. Aversion to helping others to grow

• Insecure leaders see people as workingfor them, not with them. They feel jealous when someone on their team receives public affirmation, and they are not mentioned. When you invest in the growth of those around you, you are equipping them to be better, smarter, and quicker--a threatening idea to the insecure

1. Disrespect for others

• When you're insecure, you work hard to gain respect for yourself--sometimes even by belittling others to put yourself ahead.

1. Being Know - it- all

• Insecure leaders are petrified of coming across as insignificant or incompetent, so they overcompensate by pretending they know it all. They rarely ask questions--and when they do, they almost never wait for the answer.

1. Staying behind the closed door
2. Refuse to handle conflicts
3. Follow the boss blindly and have no direction(Added by me)

I have always followed one mantra in my professional career so far and that is-

“Come every day in office thinking today is the last day” I like tag line of one of the brands “Aaj kuch toofani karte he”. Why to go office with tension, take new tension and come back with tension rather go office to do your job, drive the things, and do something which makes you feel that you did something for your company and come back with sense of pride.  At the end of day the pleasure what we get by driving, resolving issues is much higher than getting appreciation from boss, isn’t it? Why to work to show others, when things are being driven by your efforts it is obviously known….Moreover, we all know that we are being noticed in the job everyday by many of our colleagues, seniors, Friends and our behaviors are also visible. Why to be insecure and show the expressions and live life with no pleasure and no joy and no real respect…

Insecurity comes when someone does not have adequate knowledge and skills. Because if you have knowledge according to what position you are holding and if you have right skills, then your confidence will be high. Confidence gives comfort which links with security

Knowledge can be gained and skills can be developed, so work on and upgrade yourself rather being what you are. 

The biggest reason for managers of being insecure is failing to manage smart people. If smart/clever people have one defining characteristic, it is that they do not want to be led. This clearly creates a problem for you as a leader. Clever people want a high degree of organizational protection and recognition that their ideas are important. They also demand the freedom to explore and fail. They expect their leaders to be intellectually on their plane—but they do not want a leader’s talent and skills to outshine their own. That’s not to say that all clever people are alike, or that they follow a single path. They do, however, share a number of defining characteristics. The right thing for you is not to micromanage cleave people but discuss openly about projects and just agree and manage the macro milestones. That does not mean you do not keep an eye on them.  You must identify if smart people’s work style are deviating from company’s core values and you must alert them. Respect them and their ideas and openly accept if you believe their ideas are better than yours. As a leader, you must open the various opportunities and paths for smart people to grow, learn from their techniques if it is better than what you have and define new techniques which is more suitable for dealing with problems based on your experience.  You should believe that your junior can teach you something.  In short, you must develop learning attitude and manage your ego.

Another thing to be secure, one has to improve the memory. Critical projects/assignments must be in mind and update should be in mouth anytime not just in system or mail box. You must have your own mechanism to remember the key points of critical assignments. You should always on the top of numbers because if you fail constantly to update, you will lose your credibility. Science/mathematics is important to take logical decisions and understand the numbers game.

Please share your thoughts on the subject. Let me mention here that being secure is not political step in the job and it is not a onetime effort, it’s all about changing attitude of being insecure at work. May be I have highlighted just portion of subject. It’s all about being true leader rather just boss.