Guidelines for implementing Robotic Process Automation (RPA), from Gururaj Rao, Mahindra Finance
Gururaj Rao, CIO, Mahindra and Mahindra Financial Services Ltd (MMFSL) has implemented RPA in three processes. The activities now, are completed within the stipulated timeline and with accuracy, with a potential to operate at a much more larger scale than before. The staff has been redeployed for other business activities.
Before implementing RPA, its important to recognise, when RPA should be implemented. RPA is brought into action only in the absence of a standard API to transfer data between two systems, or when, one of the systems doesn’t permit an integration.
Secondly, the process has to be adequately manual to be RPA enabled. It has to bring in minimum business benefits in terms of the man hours saved, accuracy of information, etc.
The company has automated three processes. A post loan disbursement document collection process; The company has also automated bank statement reconciliation process. A couple of insurance processes are also in the process of getting automated.
“In our case, RPA is implemented to automate process with regards to taking data from the document, submitted as a proof by the customer after the loan is disbursed. The data has to be imported from an external website. There was no API enablement to this process. Every loan related document is downloaded after entering the Reference and key number. This is repeated for every document, which is done thousands of times on a monthly basis,” says Gururaj Rao, CIO, Mahindra and Mahindra Financial Services Ltd (MMFSL). The RPA keys in the necessary numbers to make the numbers in the file available for download and stores in the required destination. This process has given us benefits because it works round the clock, provides the necessary controls with accuracy.
Hitherto, this process was done manually. Dedicated human resource would key in the number and download the document from the website. The said process was supposed to be completed within days but the backlog was running into weeks. The activities now, are completed within the stipulated timeline and with accuracy, with a potential to operate at a much more larger scale than before. The staff has been redeployed for other business activities.
MMFSL is currently working with one vendor and the plan is to add one more. “The tools are bought and run by us on a subscription basis, over a cloud model and there is no perpetual license arrangement, whatsoever. Technically, the way it works is our system calls the cloud based tool which interacts with the external systems from which data has to be received and transferred,” explains Rao.
Learnings on implementing RPA
Choose the right processes: The problem and the business benefit comes first and then accordingly, the tool has to be decided upon. “We cannot decide to use RPA just because it’s an emerging technology, and then go about searching for the use case. Only if in case there are pain points such as if the systems you have, cannot be modified or integrated, then RPA is the right choice,” says Rao.
