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Robotic Process Automation (RPA): Fit for purpose

In the era of Industry 4.0, it is very critical to choose the right automation solution to align with your enterprise strategy. Omfys, a leading digital transformation company, understands importance of ‘fit for purpose’ strategy while implementing the automation solutions. Presenting a success story of Omfys’ recent Digital Workforce Transformation project using Robotic Process Automation (RPA) and its importance in the woodworking sector.

 

Why automation?
Though the world is fast moving towards the fourth (and probably the fifth one), wood product sector is one of the least automated industrial sectors. According to International Federation of Robotics (IFR), only 0.2% of all industrial robots in operation worldwide are installed in the woodworking processes. A research paper, titled ‘Opportunities for robotic automation in wood product industries: The supplier and system integrators’ perspective’ presented during the 27th International Conference on Flexible Automation and Intelligent Manufacturing, FAIM2017, in Modena, Italy, highlighted this fact with statistics.

Several manhours are saved by virtue of Robotic Process Automation (RPA) and employees are able to concentrate more on adding value to the company.

The report elaborates further that the wood product sectors consist of the furniture industry, industrial timber house building, carpentry as well as joinery industry. Here, manufacturing processes are mainly manual and characterized by a low understanding of possibilities for further development of production processes and systems. In regards to automation of manufacturing processes, the wood product industry is lagging behind by about 20 to 30 years in comparison to the automotive industry, which can be understood as the manufacturing sector with the highest degree of automation.
However, though poorly automated, there are ample of automation opportunities in the wood product industry specifically aimed at increasing competitiveness, productivity and quality as well as improving ergonomics and working environment.

Key benefits of RPA Implementation

  • Achieved end-to-end digitalized and error-free P2P process with extended validations
  • Bots prepare all the key reports reducing the audit time and accounting period closing
  • Cost savings by way of reduction in manual tasks
  • Readiness for business scalability without additional manpower
  • Achieved process agility by fine tuning the basic processes
  • Increase in employee satisfaction as they have been relieved from mundane tasks and motivated for value addition.
  • Most importantly RPA is becoming an important factor in the enterprise level digital transformation journey.

How to begin?
We are living in the era of Intelligent Automation (IA) and Artificial Intelligence (AI). Digital transformation is a journey; an ongoing process of changing the way you do business. This transformative journey begins with the assumption that all the functional processes and operational process system have been automated and the enterprise applications are capable to provide real-time data. Digital transformation is basically automation leveraging an existing automation.
The ultimate objective of the digital transformation platform should be enabling technology to take day to day business functional process decisions without any human intervention – with the use of Artificial Intelligence.
The objectives that the wood industry want to achieve may not be different from the other industries. But one may get puzzled to figure out how to begin the automation journey. What processes should I start with first? What automation strategy works best for my shared services organization? When should I begin? Who should be involved? Why should I consider Intelligent Automation? The questions are many, the answer is one. Get the help of a proven automation implementor having a host of success stories.

Why OMFYS?
Every organization is distinctive, be strategic, tactical or practical. One should consider the process flow and data-readiness to support automation. Start with small processes that can bring about obvious gains before scaling it up.
OMFYS is a global IT company headquartered in Croydon, UK, providing digital transformation solutions and services to enterprises across the globe. The offerings mainly include, Business Rule Engine automation, Business Process Management workflow automation, AI Analytic platform, Visualization solutions, Oracle AI ChatBot solutions, RPA and Cognitive solutions, and other cutting-edge technology integration Solutions on Cloud.
OMFYS is World Wide Gold Partner for Oracle Business Applications Implementation and Support services, and preferred partner for Oracle Cloud Solutions and Services. OMFYS is strategic partner with Automation Anywhere, the world leading OEM for Digital Workforce platforms viz. Robotic Process Automation (RPA), Cognitive BOTs (IQ BOT) and Analytics.
OMFYS has many recorded success stories such as reducing cost and errors, repurposing tedious transactional work etc. using RPA.

Success story
In the modern enterprise processes, Robotic Process Automation (RPA) plays a great role to create a digital transformation platform. RPA is Software robots (Bots) that mimic the work of humans across applications non-invasively.
OMFYS implemented RPA Bots including cognitive bots for a leading consumer product manufacturer in India. The customer has two manufacturing units and around 19 branches across India. Purchases and Goods Receipt Notes (GRN) are done independently at locations.
The customer follows centralized payment process and its governance at the headquarter level. However, the management wanted to automate all those processes which are manual and repetitive. The broader objective was to make the business processes more agile, cost effective and error free and help the finance team concentrate on high-value processes and fiscal enhancements.
With this mandate, OMFYS was roped in to implement RPA Bots to automate the processes.
OMFYS automated P2P process, financial and accounting, tax payment reconciliations, and data orchestration for audit and MIS requirement. OMFYS faced several challenges viz. human dependency, delay, error, compliance, additional costs etc. Progressively, a couple of key processes related to manufacturing and supply chain management (SCM) were successfully automated. Over a span of 18 months, more than 25 processes were automated through RPA Bots (see graphic), including Cognitive Bot and around 20 additional processes are in the pipeline.

A list of processes automated/ being automated by Omfys for a leading consumer product manufacturer in India

Finance and Accounting Functional Processes

  1. Invoice Indexing
  2. Invoice Validation
  3. Currency Converter/Daily Currency Update
  4. GL Scrutiny
  5. All Inventory Aging Report – Good
  6. All Inventory Aging Report – Make to Order
  7. All Inventory Aging Report with Project Code
  8. All Inventory Value Report
  9. Trial Balance Report – Inventory
  10. Payment Aging Report – GST Reversal
  11. MSME (Micro small medium Enterprises) payment aging analysis
  12. Channel Finance Analysis and Processing
  13. Suspected Duplicate Invoice
  14. Vendor Reconciliation
  15. GST Reconciliation – 2A Downloading
  16. GST Reconciliation – Discrepancy Scrutiny
  17. Validate numbers in GST with 26AS (TDS deduction)
  18. Draft report for GSTR-3B filing based on Invoices and bank statement.
  19. Monthly Close Process (Audit BOT)
  20. Bank Statement Download from Bank Portal
  21. Bank Book Download from ERP
  22. Bank Balances Summary from Bank Statement
  23. Interest Calculation from Bank Statement
  24. Bank Reconciliation
  25. Vendor Master Data Verification/ Updating (Including RTGS Updating)
  26. Bank Interest Calculation
  27. Payment Process
  28. Fund Transfer

Supply Chain Management (SCM) and Manufacturing Functional Processes

  1. Sales Order Creation
  2. Item Master Data Management
  3. Invoice Verification
  4. Receipt Confirmation
  5. Scheduling Processes
  6. Reporting
  7. Production Information Capture
  8. Inbound Processing
  9. Inventory Management Processes
  10. Pricing Management
  11. Customer Data Management
  12. Billing
  13. Freight Costing
  14. Automation of E-way Bill Generation while Sales Order Invoice Printing
  15. EDI Automation
  16. Purchase Order Creation
  17. Batch Completion Sheet Report
  18. Weighted Average Rate Report
  19. Inventory Reconciliation
  20. Cash Voucher

OMFYS Technologies India Pvt. Ltd.

UK Office:
292 London Road, Croydon, CR0 2TQ, United Kingdom
Email: bd.team@omfysgroup.com
Web: www.omfysgroup.com

 

India Office: Unit No.24, Electronic Sadan – 1,
MIDC Bhosari, Pune- 411 026.
Tel: 020-4860 1860 | Mob: 85309 02288
Email: bd.team@omfysgroup.com | Web: