| Date post: | 16-Apr-2017 |
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The Services Research Company
Standard Bank Case Discussion: Improving Customer Experience through RPA + AI-powered Cognitive Automation
WebinarincollaborationwithWorkFusion
September28th ,2016
TomReuner,ResearchVP,[email protected]@tom_reuner #hfsresearchWeb:www.hfsresearch.com |Blog:www.horsesforsources.com
©2015HfSResearch Proprietary│Page1
Overview§ Tom Reuner is Research Vice President, Intelligent Automation at HfS.
Tom is responsible for driving the HfS research agenda for Intelligent Automation practice across the whole gamut ranging from RPA to Autonomics to Cognitive Computing and Artificial Intelligence. A key element in Tom’s responsibilities is guiding clients and stakeholders on the evolution of Intelligent Automation including the coverage of new players and approaches. Furthermore, he is driving the research on application testing and service management. A central theme for all of his research is the increasing linkages between technological evolution and evolution in the delivery of business processes.
Previous Experience§ Tom’s deep understanding of the dynamics of this market comes from
having held senior positions with Gartner, Ovum and KPMG Consulting in the UK and with IDC in Germany where his responsibilities ranged from research and consulting to business development. He has always been involved in advising clients on the formulation of strategies, guiding them through methodologies and analytical data and working with clients to develop impactful and actionable insights. Tom is frequently quoted in the leading business and national press, appeared on TV and is a regular presenter at conferences.
Education§ Tom has a PhD in History from the University of Göttingen in
Germany.
Tom Reuner, Research VP, HfS Research
©2015HfSResearch
HfS Research Gives You an Unvarnished View on the Market
©2015HfSResearch Proprietary│Page3
HfS Research Has Been Writing About Intelligent Automation for 4+ Years
©2016HfSResearchLtd.
FixedAssetsLeveragedAssets
2DesignThinking
3BrokersofCapability
1WriteOffLegacy
4CollaborativeEngagement
7HolisticSecurity
5IntelligentAutomation 6
Accessible&Actionable
Data
8Plug&PlayDigitalServices
SOLUTIONIdeals
LEGACY
ECONOMY
AS-A-SERVICE
ECONOMYCHANGEMGMTIdeals
Ø “As-a-Service”isaboutaugmentinghumanperformancebyre-thinkingbusinessmodelchanges,enabled byDigitalTechnologiesandIntelligentAutomation
Ø MovingintotheAs-a-ServiceEconomymeanschangingthenature,attitude,focusandfinancialconstructsofengagements betweenEnterpriseBuyers,theirServiceProviders,technologysuppliersandadvisors
Industry is heading toward the As-a-Service Economy
©2015HfSResearch Proprietary│Page5
Automation Really is in the Eye of the Beholder
©2015HfSResearch
Robotic Process Automation describes a software development toolkit that allows non-engineers quickly to create software robots to automate rules-driven business processes. E.g. digitizing the process of collecting of unpaid invoices, that involves mimicking manual activities in the RPAsoftware, the integration of electronic documents and generation of automated emails to ensure the wholecollections, process is run digitally and can be repeated in a high-throughput, high intensity model.
Cognitive computing is the simulation of human thought processes in an Intelligent Automation process or set of processes. It involves self-learning systems that use data mining, pattern recognition and natural language processing to mimic the way the human brain works, without continuous manual intervention. E.g. an insurance adjudication system that assesses claims, based on scanned documents and available data from similar claims and evaluates payment awards.
Autonomics is referring to self-learning and self-remediating engines, where the system makes autonomousdecisions, using high-level policies, constantly monitoring and optimizing its performance and automaticallyadapting itself to changing conditions and evolving business rules and dynamics. Increasingly minimal humanintervention. E.g. a virtual support agent continuously learning to handle queries and creating new rules/exceptions as products evolves and queries change.
Artificial Intelligence is where intelligent automation systems go beyond routine business and IT process activity to make decisions and orchestrate processes. E.g. an AI system managing a fleet of self-driving cars or drones to deliver goods to clients, manage aftermarket warranties and continuously improve the supply chain.
How HfS Defines the Building Blocks for Intelligent Automation
©2015HfSResearchLtd.
The Key Take-aways
§ It is not a question whether Intelligent Automation will happen – it hasarrived
§ It is a question of where, how, at what scale and under which name§ It is about Human Augmentation – not Matrix 3.0§ Service delivery is being decoupled from labour arbitrage§ Service providers have to prepare for revenue model disruption§ There is a lack of discussion in the Enterprise/B2B market –
the perception is dominated by the likes of Facebook,Google etc.
§ You have to set the agenda:Start with the use case - NOT technologyHelp the client/stakeholder to envision the journeyand the end-state
©2015HfSResearchLtd. Proprietary│Page8
Our Panellists
IanWeir,HeadBusinessPerformanceImprovement,atStandardBankofSouthAfrica
AdamDevine,VPHeadofMarketingWorkFusion
Intelligent Automation at Standard BankThe tech that’s digitizing the bank from the insight out
They call it Africa we call it home
Ian and his cohorts
Operational Excellence
Measurement
Business Solutions
Engneering
Robotics feature teams
Exco Team
13
24/7
What matters?
Customer
Cost
The vision
COIBank
StatementsPayslips
KYCProof of
ResidenceProof of
IdentificationEmployment Confirmation
COE
Standard Bank’s challenge was similar to many: checking documents and capturing info into core systems
Process for originating a Revolving Credit Plan, aka a short term loan
Problems: highly manual process to check docs, reliance on customer to send docs or bring them into branches, KYC required to establish ID and residence of
applicants – proof of residence
What does the solution look like?
Customer enters:§ Name§ PIN§ Address
WorkFusion action:§ API calls to trusted 3rd party
databases§ 19 sources validate information§ Human escalations for
corrections and validations
Elimination of human investigation, data capture, copying-and-pasting, moving info from one system to another
Standard Bank customer experience win:
22 days 5 mins
Account opening time reduced by 99.98%
The buzz is justified.
How can a business born analog grow like digital businesses?
Workflow Robotics Cognitive (AI) Worker Mgmt Analytics
Process-level automation
(vs. task level)
Automate applications using
application UI
Automatejudgment work on unstructured data
Automate routing of exceptions and quality
control
Derive insights about performance
Control TowerMonitor business activities for Automation
The capabilities behind the results:A complete Smart Process Automation “toolkit”
The buzz is justified.
Why did Standard Bank choose WorkFusion over every other RPA solution?
WorkFusion doesn’t just automate the task, it automates the end-to-end business process.
Whereas other solutions provide an “if / then” robotic approach, WorkFusion learns.
Whereas pay-per-bot model is complex, WorkFusion scales simply and encourages “big things.”
“howmanybotsyouwant?”
“whatdoyouwanttoachieve?”
Sneak peek of big things to come....
WorkFusionChatbots
WorkFusionSmart Process
Automation
WorkFusionCrowdsourcing
Automate customer inquiries and task execution of through chat
interface
Automate operation of legacy applications and judgment work
on unstructured data
Automate FTE and external worker sourcing and
management
©2015HfSResearch Proprietary│Page25
About HfS ResearchHfS Research is the leading analyst authority and global network for IT and business services, with a specific focus on globalbusiness services, digital transformation, and outsourcing. HfS serves the research, governance, and services strategy needsof business operations and IT leaders across finance, supply chain, human resources, marketing, and core industry functions.The firm provides insightful and meaningful analyst coverage of best business practices and innovations that impactsuccessful business outcomes, such as the digital transformation of operations, cloud-based business platforms, servicestalent development strategies, process automation and outsourcing, mobility, analytics, and social collaboration. HfS appliesits acclaimed Blueprint Methodology to evaluate the performance of service and technology in terms of innovating andexecuting against those business outcomes.
HfS educates and facilitates discussions among the world's largest knowledge community of enterprise services professionals,currently comprising 150,000 subscribers and members. HfS Research facilitates the HfS Sourcing Executive Council, theacclaimed elite group of sourcing practitioners from leading organizations that meets bi-annually to share the future directionof the global services industry and to discuss the future enterprise operations framework. HfS provides sourcing executivecouncil members with the HfS Governance Academy and Certification Program to help its clients improve the governance oftheir global business services and vendor relationships.
In 2010 and 2011, HfS Research's Founder and CEO, Phil Fersht, was named “Analyst of the Year” by the International Instituteof Analyst Relations (IIAR), the premier body of analyst-facing professionals, and achieved the distinctive award of being votedthe research analyst industry's Most Innovative Analyst Firm in 2012.
In 2013, HfS was named first in rising influence among leading analyst firms, according to the 2013 Analyst Value Survey, andsecond out of the 44 leading industry analyst firms in the 2013 Analyst Value Index.
Now in its seventh year of publication, HfS Research’s acclaimed blog “Horses for Sources” is widely recognized as the mostwidely read and revered destination for unfettered collective insight, research, and open debate about sourcing industryissues and developments. Horses for Sources today receives over a million web visits a year.
To learn more about HfS Research, please email [email protected].
