A problem shared...
Editorial Type: Feature Date: 05-2020 Views: 604 Tags: Document, Research, Management, Finance, Accounts Payable, Winshuttle PDF Version:
New research has revealed how Process Automation is increasing staff productivity and efficiency in shared service centre environments
The automation of manual processes in shared service centres is having a positive impact on the productivity and accuracy of data. Automation is enabling nearly half (46%) of managers to start new projects that they previously did not have the time for, according to new research by Winshuttle, a leader in data management and process automation. Winshuttle worked with market research firm, Sapio to survey over 100 owners, directors, C-level and managers at companies with 1000+ employees and with shared services centres in the UK & Ireland.
Robotic Process Automation (RPA) tools allow large enterprises to eliminate manual processes like repetitive data entry, lower overall costs and free up employees' time for other tasks. The research indicates that successful adoption of automation has enabled 34% of professionals working in shared service centres in the UK and Ireland (UKI) to instead focus their skills and attention on more productive tasks that have the potential to offer greater value to the business.
The research also shows that shared service centre managers have taken proactive steps with their teams to ensure success with initial implementations of automation software. For instance, over half of respondents (52%) reported it was essential to reassure staff that the introduction of automation would not put their jobs under threat. In fact, successful automation projects have seen over a third of employees transfer their skills elsewhere in the business doing higher value tasks.
Andrew Hayden, senior product marketing manager at Winshuttle said: "People often perceive that automation of manual processes is fuelling worker displacements. The reality, however, is that automation software enables finance professionals in shared service centres to play a more valuable role beyond data entry, and this has been reflected in the research results. It's not just about replacing humans with robots, it's about using automation to drive greater worker productivity."
For 42% of respondents, achieving small project wins using automation software was necessary to demonstrate its value to the wider business. In addition 30% believe that to guarantee success, it's important to start small and ensure that business and users expectations for the technology are aligned.
"It's not unusual to see highly qualified professionals spending a significant amount of time on error-prone, manual data entry for financial processes," added Hayden in conclusion. "This can include processes like accounts payable and purchase to pay, general ledger or journal entries. As a result, these tedious activities can drain morale and lower team productivity. Adopting automation frees up these professionals to take on other projects and make a real impact on the business.".
Vodafone, Engie and Novacon are just a few of the enterprises Winshuttle has worked with to help consolidate and optimise data in their shared financial services environments using its automation platform for improving SAP data management processes.
More info: www.winshuttle.com