Overview:
Process Optimization to identify low-cost automation opportunities within the Finance function of a large Healthcare Payer
Business Issue:
Finance and Shared Services functions continue to be burdened with manual processes, significant compliance-related transactions, and a continued emphasis on doing more with less. RubinBrown was engaged to review various functions within the Finance function and determine which of these current manual or repetitive tasks have the most significant Return On Investment related to the implementation of a Robotic Process Automation (RPA) solution.
Actions:
- Defined the overall scope of the effort targeting those functions with significant manual data entry, high-volume transaction types, movement of data from one format to another where no significant value in the data was being performed, heavily rules-based processes that were being performed by individuals and instances of unstructured data coming into the organization that needed to be captured in a structured format or merged with other data sources to come valuable input in transaction processing or data analytics
- Captured key metrics on each of the process candidates and provided a quantitative “score” of each process as a key data point for considering RPA as a solution
- Design the high-level Return on Investment (ROI) for the candidate process including initial start-up/One-time costs, initial design and development of Bots and ongoing, year-over-year costs
- Create an Action Plan for consideration
- Present recommendation to business and IT leaders for Next Steps
Results:
- Prioritized list of candidate processes for implementing RPA
- Quantifiable ROI for implementation of initial Bots and additional future Bots
- Recommended a support structure for ongoing production support and maintenance of the RPA environment