Intelligent Automation COE: Driving Enterprise Transformation for a global investment management company
Overview.
A global Investment Management and Insurance Company wanted to transform operations with automation across industry operations and corporate functions at the enterprise level. The objective was to develop a virtual workforce that combines human, robotic and cognitive capabilities. The customer was looking for cost optimization in operations, improved cycle time, derive the right ROI, and institutionalize automation at scale.
The client encountered several challenges during their automation journey, including:
Change Management: Adapting to automation required a cultural shift within the organization. Employees needed to embrace the concept of a virtual workforce and understand how it would enhance their roles.
Process Complexity: Some processes were intricate and involved multiple systems, making automation implementation more challenging.
Data Quality: Ensuring accurate and consistent data for automation was crucial.
Security and Compliance: The client had to address security concerns related to data access, especially when integrating cognitive technologies.
Solution.
Coforge recommended a COE approach to ensure enterprise adoption of automation, standardize implementation at all location units and leverage process qualifications globally.
We started the engagement with automation consulting using ProcessGym [TM], our proprietary process discovery framework to identify the right automation processes in corporate functions and industry operations.
A cross functional team was engaged comprising of Domain SMEs, Process consultants and technology practitioners.
There were quick wins with POCs, and MVPs developed on agile methodology, continuous process mining and past experience of similar automations which lead to more than 50 qualified processes in Year 1 of the multi-year engagement.
Automation COE was set up in a dual shore model for continuous discovery, governance, and pipeline continuum.
The development was done using Agile factory with multi-dimensional squads comprising of RPA and AI work streams.
Automation is being scaled with cognitive technologies like Machine Learning and NLP for invoice processing, data extraction from unstructured emails and other areas of back-office automation leading to enhanced straight through processing.
