Using Robotic Process Automation in Finance organizations : Case study
Ylöstalo, Tomi (2018-05-07)
Using Robotic Process Automation in Finance organizations : Case study
Ylöstalo, Tomi
(07.05.2018)
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Turun yliopisto
Tiivistelmä
Software robotics has emerged as a new technological development over the last few years, offering a lot of potential for optimizing and improving processes. Software robotics offers a new tool also for finance organizations, where there are still number of manual tasks being performed in the absence of perfect system integration. This research studies the opportunities that Robotic Process Automation offers for finance organizations. Other robotics, such as Artificial Intelligence are not in the scope of this research. Goal of the study is
• To gain a deeper understanding of robotic process automation in finance organizations – it’s foreseen benefits, barriers of implementation and risks
• Understand what needs to happen in order to have RPA widely implemented in a finance organization
• To better understand the relationship of RPA and other efficiency measures used in finance organizations
The research was conducted as a qualitative case research. Four people were interviewed from a case company. The interviewees worked in different positions within the company, all having been participating in the RPA projects within the finance organization. The interviewees were chosen so that they represented different positions and thus offered different point of views into the research topic. Two interviewees represented management level, one in robotics and one in finance organization. One interviewee represented the project from within the finance organization and one interviewee represented process efficiency expertise on wider scale.
Results from the research see that there is potential for RPA in finance organization, which is according to literature. Research also supports that the common way to organize robotics works also for finance organization, but there is a risk that finance processes may not be able to compete with large back-office units on company level when it comes to resource allocation. The research also verifies that standardization and streamlining of processes before implementing RPA is important for purposes of receiving resources, gaining full potential and maintenance of the robots. In addition, cooperation with IT is important and also IT needs to understand RPA in order for the cooperation to work. When it comes to relationship of RPA to other efficiency tools available for a finance organization, the research supports the views presented in literature that RPA is one tool among other tools and using different tools effectively, depending on the situation, will lead to a best overall result.
• To gain a deeper understanding of robotic process automation in finance organizations – it’s foreseen benefits, barriers of implementation and risks
• Understand what needs to happen in order to have RPA widely implemented in a finance organization
• To better understand the relationship of RPA and other efficiency measures used in finance organizations
The research was conducted as a qualitative case research. Four people were interviewed from a case company. The interviewees worked in different positions within the company, all having been participating in the RPA projects within the finance organization. The interviewees were chosen so that they represented different positions and thus offered different point of views into the research topic. Two interviewees represented management level, one in robotics and one in finance organization. One interviewee represented the project from within the finance organization and one interviewee represented process efficiency expertise on wider scale.
Results from the research see that there is potential for RPA in finance organization, which is according to literature. Research also supports that the common way to organize robotics works also for finance organization, but there is a risk that finance processes may not be able to compete with large back-office units on company level when it comes to resource allocation. The research also verifies that standardization and streamlining of processes before implementing RPA is important for purposes of receiving resources, gaining full potential and maintenance of the robots. In addition, cooperation with IT is important and also IT needs to understand RPA in order for the cooperation to work. When it comes to relationship of RPA to other efficiency tools available for a finance organization, the research supports the views presented in literature that RPA is one tool among other tools and using different tools effectively, depending on the situation, will lead to a best overall result.