Process Automation News

Recent report from Gartner, world-wide leading research firm titled “When and Where to Use Robotic Process Automation in Finance and Accounting” mentions StereoLOGIC.

According to Gartner: “Robotic process automation should be evaluated on speed to value and total cost of process ownership in the context of your existing finance activities. This research helps application leaders spot and evaluate RPA use cases in finance and accounting.”

Gartner recommends using StereoLOGIC for evaluation of the total cost of RPA ownership and advises to “consider how much the full IT stack and manual labor and any rework of wrong data takes today”.

Follow this link to read the complete report from Gartner. The recent report from Forrester is titled Process Mining: Your Compass For Digital Transformation – The Customer Journey Is The Destination.

According to Forrester:
“Process automation is critical to digital transformation. It depends upon new software, and developers have better tools to meet that demand. The challenge: which processes to automate? Most application development and delivery (AD&D) professionals don’t understand their own processes, and they can’t articulate them, either. Read this report to understand how to leverage process mining to discover and prioritize automation efforts.”
The report further provides a detailed case study of a US Insurance Company successfully overcoming these challenges with StereoLOGIC. David Hadd, Senior Vice President Corporate Continuous Improvement at Webster Bank has presented a detailed case study of successfully applying StereoLOGIC Process Mining for solving transformational challenges at Webster bank. The presentation titled “Process Mining in Financial Services, Webster Case Study” was presented to the audience of C-level executives. The following topics were discussed:

• Accelerating the Process Discovery and Diagnostics
• Advanced Process Mining
• Process Time Studies: Systems, Employees and Detailed Employee Activities
• Results: Process Improvement Opportunities and Savings
• Follow this link to read about the COO & Chief Transformation Officer Summit.

Stereologic is holding a keynote presentation titled “Automated Process Mining – The Key to Success for RPA and Transformation Projects” on Tuesday August 28th at 11:20 at OPEX Summer 2018. Don’t miss this important seminar about practical methods to help reduce project risks and accomplish successful results. These methods were successfully used in dozens of companies and helped deliver projects faster and with a higher ROI.

The following topics will be discussed:

• Accelerated preparation of processes for RPA and increase FTE savings
• Reduction of risks and costs of transformation projects
• Case studies from North American insurance companies Texas Life and Ivari

Presenters:

• Sofia Passova, Ph.D., President and CEO, StereoLOGIC
• Scott Gorman, SVP, New Business Operations and Product Development, Ivari Canada
• Stan Passov, SVP, Product Management and Services, StereoLOGIC

StereoLOGIC is featured in a new report from a world-wide leading research firm as “one of the leading offerings on the market .. that has developed from the ground up its own mechanisms and algorithms for process discovery.”

Gartner highlights the following advantages of StereoLOGIC vs. other approaches:

• “StereoLOGIC offers a more complete picture of the reality … and perfect opportunity analysis before running RPA”
• “StereoLOGIC focusses on the depth of process functionality as well as on the breadth of operations. Our survey revealed that StereoLOGIC focusses significantly more than its competitors on customer / employee interactions and real-time dashboards.”

Read the complete report Market Guide for Process Mining at Gartner, Inc. Stereologic presented ‘Hidden Challenges of RPA’s and How to Overcome Them’ at OPEX 2018 in Orlando. Business use cases from successful clients were demonstrated to explain the common pitfalls of traditional RPA’s. Financial institutions such as East West Bank have saved millions of dollars by using Stereologic to identify and improve their business processes faster and with more accuracy.

Traditional RPA’s are an attractive concept for financial organizations with their promises of quick ROIs and large FTE savings. However most executives don’t become aware of the less obvious issues until it’s too late and as a result 30-50% of RPA projects fail.

With Stereologic’s Process Analytics, clients get more streamlined businesses processes and typically see results within several weeks, resulting in annual RPA savings of more than 50%. To learn more about how Stereologic can help your healthcare, IT or financial organization save on business processes read the rest of the presentation below.

Hidden Challenges of RPAs and How to Overcome Them by Stereologic