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BENEFITS OF DOCUMENT
1. Business value through (RPA) Robotics Process Automation coupled with appropriate business intelligence/artificial intelligence
2. Benefits to CFO and Finance leadership team on usage of RPA within FP&A
3. Insights on how automation will be the linchpin of managerial finance in the future.
DESCRIPTION
The degree of sophistication required in the Financial Planning and Analysis (FP&A) has grown exponentially due to amount of information available from different sources, market dynamics, competitive landscapes, continual need for comprehensive integrated business planning and management decision support system. In addition, the level of collaboration required between FP&A team and other departments and the dependency on management for FP&A team to deliver insightful analysis substantiates the need for ingesting cutting-edge technology within FP&A group so that they are able to leave up to the expectations of top management to deliver high quality information.
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Robotics Process Automation
1. White Paper
THE BIG GAME CHANGER- Usage of RPA (Robotics
Process Automation) within Financial Planning and
Analysis function
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Abstract
The degree of sophistication required in the Financial Planning and Analysis (FP&A) has grown
exponentially due to amount of information available from different sources, market dynamics,
competitive landscapes, continual need for comprehensive integrated business planning and
management decision support system. In addition, the level of collaboration required between
FP&A team and other departments and the dependency on management for FP&A team to deliver
insightful analysis substantiates the need for ingesting cutting-edge technology within FP&A group
so that they are able to leave up to the expectations of top management to deliver high quality
analytical data.
The purposes of this white paper is to evaluate usage of Robotics Process Automation (RPA) within
the FP&A sector and find out possibilities of enhancing economic value delivered by FP&A team so
that they can meet increasing demands of the management in a shortest possible time.
1. Financial Planning Environment:
In today’s environment, the spectrum of responsibilities undertaken by FP&A specialist encompasses
all three stages of decision-making Viz. tactical, operational, and strategic and it is set-up to provide
valuable insights to all departments –Production, Marketing & Sales, Finance, Human resource,
Sourcing ,Supply Chain and IT department.
In addition to providing insightful commentaries to sales and marketing team with regards to
addressable market, potential product launches, they are also responsible for coordination and
preparation of budgets, forecasts, month-end reporting and analysis, operational and management
reporting, business analytics, trend analysis, and ad-hoc analysis to support management decision-
making for new and existing initiatives.
2. FP&A Hot-button Issues
In order to perform the above responsibilities nearly one-third of analyst’s time within FP&A group is
consumed on various transactional work like -data extraction from the disparate system, collation,
cleansing and consolidation of data to create a single view of data gathered from all different
sources. They also will have to confirm data integrity, manage large complex spreadsheets, handle
inconsistent reporting formats, perform inter-system reconciliation and ensure that the errors
generated due to misalignment of data coming from different sources/systems is corrected. Some of
them will have to build and administer databases, create templates particularly in the areas of
budgeting and forecasting, and have to work their way through a non-standardized environment,
reconciling huge amounts of raw and incomplete data.
This document is a partial preview. Full document download can be found on Flevy:
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3. 4
6. RPA Value to IGATE
IGATE’s strength to provide innovative solutions which are led by technology intervention/platform
led solutions and integrated IT/process solutions will help propel us in to the next generation
outsourcing amphitheater. RPA (Robotics Process Automation) will not only allow us to have
competitive edge but will allow us to provide exponential economic value to our client which will go
above and beyond arbitrage led pricing mode.
7. About the Author
C.J.Shah is the Sr. Executive at iGATE Corporation (NASDAQ:IGTE). CJ during his tenure working with
various large Multinational companies have led teams those were part of various projects to provide
integrated solutions encompassing people, process and technology. Over a period of time it has
become the foundation for the huge success in IT/BPO service delivery models executed across the
Globe. CJ is recognized as a thought leader in the business process management and modeling space,
He have delivered presentations and keynote speeches at industry conferences, including World BPO
Forum, World Trade Center of Greater Philadelphia and others.
CJ has also significantly contributed to the framework of providing business impact driven value by
working with diverse groups within the organization and stirring them to work towards common
business objectives which earned much critical acclaim within the organization and emerged as a
beacon of knowledge. In recognition of his contribution, IAOP -premier Outsourcing Association,
appointed him as a selection committee member for GEO - IAOP’s Global Excellence in Outsourcing
Award.
CJ is a business process services advisor to various Fortune 500 companies in the US and CJ holds
Bachelor’s Degree in Electronics and Master in Business Administration specialized in Finance.
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/robotics-process-automation-1103
4. 1
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