Business Objective
A global Investment Management and Insurance Company wanted to transform operations with automation across industry operations and corporate functions at the enterprise level. The objective was to develop a virtual workforce that combines human, robotic and cognitive capabilities. The customer was looking for cost optimization in operations, improved cycle time, derive the right ROI, and institutionalize automation at scale.
Our Approach
Coforge recommended a COE approach to ensure enterprise adoption of automation, standardize implementation at all location units and leverage process qualifications globally. We started the engagement with automation consulting using ProcessGym [TM], our proprietary process discovery framework to identify the right automation processes in corporate functions and industry operations. A cross functional team was engaged comprising of Domain SMEs, Process consultants and technology practitioners. There were quick wins with POCs, and MVPs developed on agile methodology, continuous process mining and past experience of similar automations which lead to more than 50 qualified processes in Year 1 of the multi-year engagement. Automation COE was set up in a dual shore model for continuous discovery, governance, and pipeline continuum. The development was done using Agile factory with multi-dimensional squads comprising of RPA and AI work streams. Automation is being scaled with cognitive technologies like Machine Learning and NLP for invoice processing, data extraction from unstructured emails and other areas of back-office automation leading to enhanced straight through processing.
Value Delivered
- 70% cost savings
- 90%+ process improvement
- 4X return on Investment.
- Improved customer experience
