Finance and Banking Advisory Industry should leverage on Process Autonomy now!

Finance and Banking Advisory Industry should leverage on Process Autonomy now!

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Finance and Banking Advisory Industry should leverage on Process Autonomy now!

Many leading financial services providers like banks, insurance companies including wealth and asset managers have successfully piloted robotics solutions, but relatively very few have succeeded in industrializing the benefits.

Robotic Process Automation helps financial organizations more easily accommodate change and embrace increasing complexity. As the market demands service, the pressures of competition grow in that market, your organization will need to continually change and evolve to stay in the mix. Robotic Process Management is easily scalable, with quickly deployable turnaround time and rapidly adaptable to tackle ever more, and ever more complex workflows, without adding to your operational headcount.

Software robotics promises to provide a solution that can rapidly automate all back-office and customer facing processes, making them faster, significantly more cost effective, and improving service consistency and maintaining regulatory compliance. Rather than looking at Robotics Process Automation (RPA) as a threat it can become complementary to any workforce, working hand in hand with people to help them focus on other higher priority tasks, also helping them improve their work efficiency and performance.

RPA is best for repetitive activities that require little intervention and that computers can do much faster than humans. Financial services companies across different sectors are all leveraging RPA and seeing massive benefits in the process. While RPA has implications in a variety of different industries, financial service institutions, like banks and insurance companies, stand to benefit the most. Especially because this industry is heavily regulated and has high security, auditability, and data quality demands, robotics and automation just make sense.

RPA agents can also assist in many of the services that consumer banks offer to their clients. For example, they can calculate mortgage and loan rates based on a customer’s credit score and history with the bank. You can also use RPA agents to determine whether customers qualify for refinancing their loans and send them notifications about loans that are in delinquency or default. Agents can also assist insurance companies at every stage of the sales funnel, from generating leads to cross-selling and up-selling. For example, you can use RPA to automatically download leads from websites that allow visitors to comparison shop with different insurance providers.

From car insurance to life insurance, RPA agents can update a customer’s policy based on claims and events. Not only can they accurately distribute payments, they can also find and correct data discrepancies on multiple systems.

According to the 2017 Deloitte state of cognitive survey, 76 percent of companies surveyed across a wide range of industries believe cognitive technologies will “substantially transform” their companies within three years. While independent studies suggest full return on investment within a year.

Studies suggests RPA can reduce manual operations costs by 25% to 40% or more, it does this while improving service and compliance, and typically provides a return on. Because the software replicates human activity, forming a virtual workforce available 24 hours per day, with full audit and 100% accuracy and transparency.

As financial services companies see the benefits of using RPA, we expect that more and more of them will take the leap. In the workplace of the future, RPA won’t be a competitive edge any longer. Instead, it will be a necessity for companies seeking to provide high-quality performance and service in a crowded financial services landscape.

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Grene Robotics partnered with Cognizant for Telstra Innovation Hackathon 2019 #TIH2019

Grene Robotics partnered with Cognizant for Telstra Innovation Hackathon 2019 #TIH2019

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Grene Robotics partnered with Cognizant for Telstra Innovation Hackathon 2019 #TIH2019

Cognizant + Grene recently participated in the Telstra Innovation Hackathon #TIH2019 to address a pressing business challenge of Telstra.

Exemplary Teamwork, High Energy and Disruptive Thinking were the order of the day throughout the Hackathon.
Thanks #teamcognizant #telstra for the opportunity …. Looking forward to the journey ahead!

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30+ Technologies Stitched Together Seamlessly

30+ Technologies Stitched Together Seamlessly

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30+ Technologies Stitched Together Seamlessly

The tech stack is ever evolving and at a rapid rate of change. We choose technologies based on stability, security, resource availability and support. The plan is to always be on time.

A little early or a little late, both of these cases lead to the same outcome in adoption.

Technology maturity research and assessment is a core function within Grene Robotics. All our engineers spend 20% of their time on researching new technologies and as a team we make sure its the right time to introduce it to our stack

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Autonomous Sales Management @ Vodafone Idea Ltd

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Autonomous Sales Management @ Vodafone Idea Ltd

The Evolution of Consumer Expectations

Amazon is arguably one of the most influential businesses on consumer behaviour. One of the most significant changes that Amazon has had on consumer expectations is related to the availability and shorter delivery time of products online. This, coupled with customer service that truly puts the customer first, has changed supply chain management significantly.
To satisfy such consumer expectations in the enterprise world, all enterprise resources need to be connected in real time, operate on a real time workflow and be managed by AI that can take smart decisions without human intervention.

Grene Robotics is working with India’s second largest tele communication service provider to complete an order process autonomously from PO to WO.

The order management process starts from when a customer places an order, to keeping track of that order until it is fulfilled.
 
The End Goals
  • Zero touch customer ordering and support 80% of customers

  • AI automated resource & workforce planning for order fulfilment

  • RPA enabled order processing for instant results

  • Customer app with a conversational interface to easy order tracking

  • 50% reduction in sales / account managers time

  • AI to respond to 80% of customer requests without human intervention

  • AI to predict the turn around time for any order with continues communication to all stakeholders

 The Key Stakeholders & Resources
  • The Customer
  • Sales / Account Manager Team
  • Feasibility / Inspection Team
  • Solution / Product Team
  • Order Processing Team
  • Accounting Team
  • Customer Service Team
The Challenges
  • No end to end visibility for order management
  • No follow up
  • No Real Time Updates
  • No Prediction on completion time
  • No statistics on turn around time
  • No real time visibility to the customer
  • No instant gratification to customer

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Autonomous Order Management – Instant Customer Gratification

Autonomous Order Management – Instant Customer Gratification

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Autonomous Order Management – Instant Customer Gratification

What is Autonomous Order Management?

The process of taking an order directly from the customer and processing that order using AI, automation and robotics while giving a real time experience to the customer.

What is Extraordinary Customer Service?

Amazon & UBER go the extra mile for customers, which has forced retailers and taxi services into adopting new methods of managing customer relationships. For example, delivery expectations set by Amazon have bled into the world of customer service: if a consumer has an issue with a product, they expect reliable estimates on replacements, fixes, or refunds.

Extraordinary customer service has forced retailers to optimize logistics to meet a growing demand of visibility into delivery services, one that did not exist prior to this evolution of customer expectations.

Unlike popular belief, the main purpose of the CRM is not to manage the salesforce but to manage customer expectations. If there is anything that we have learnt from UBER, Swiggy and Amazon, its that customer experience, customer service and customer satisfaction always wins.

The robotic customer management system focuses on using AI and Robotics technologies to rethink the customer sales and service workflows to match todays customer expectations.

The End Goals

  • Bring all services to the customer doorstep.
  • Realtime visibility of pickup and drop off
  • Instant gratification for the customer with digital queues and delivery predictions
  • Additional revenue channels to the service provider.

The Key Stakeholders & Resources

  • The Customer

  • Customer Service Team

  • Ground Logistics Team

  • Product Support Team

  • Dealer & Distributor Network

  • Manufacturing Team

  • Accounting Team

The Value

  • Instant gratification to customer

  • Status prediction

  • Delivery prediction

  • Real Time Tracking

  • Benchmarking of TATs

  • Resource Optimisations

  • Cost Savings

The Use Cases

Grene Robotics is working with the world’s largest motorcycle manufacturer to provide zero touch customer service with AI keeping track of service requests autonomously.
Grene Robotics is working with the India’s second largest telecom provider to replace their salesforce implementation.

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