Increase Business Value and Operational Efficiency with Intelligent Process Automation: Reshaping Financial Processes and Operations to help Customers focus on High-Value Activities and Business Innovations
As a continuation of my previous blog, Flexible Automation with Faster Deployment: SAP Intelligent RPA and AI Technology Help SAP S/4HANA Customers to Build Intelligent Automation, I want to now share examples of the capabilities where SAP Intelligent Robotic Process Automation (SAP Intelligent RPA) can help your business benefit from intelligent automation.
New business models have emerged during the Covid-19 pandemic that are leveraging Artificial Intelligence/Automation, which allows business professionals to transform their core fundamental business processes using predefined, intelligent and data-driven best practices content.
If you are looking to bring positive impact to your organization by leveraging SAP Intelligent RPA, you can review the SAP Intelligent Robotic Process Automation Store. In here, you will find a library of over 150 bots covering 13 LOBs, 24 Industries, 20+ live process Workflow Content Packages and 20+ AI Business services. All of these are delivering business value through automation, allowing gains in speed and efficiency, thereby freeing up resources from repetitive tasks to focus their attention on higher-value tasks, while maintaining well-documented audit trails.
If your business would like to go beyond the SAP available bots, there is also the possibility of creating customized scenarios that will adapt to your business-specific needs.
Let us take a closer look at the following scenarios that could be enabled with the help of SAP Intelligent RPA to reshape financial processes and operations:
- Intelligent Process Automation for Asset Processing including Create, Acquisition, Transfer and Retirement activities.
- Intelligent Process Automation for Finance Intercompany “(foreign)” Transfer and Reconciliation.
- Intelligent Process Automation for project-based services that help manage project roles across all relevant projects.
Intelligent Process Automation for Asset Processing including Create, Acquisition, Transfer and Retirement Activities
A Professional Services company using SAP S/4HANA Cloud is experiencing tremendous global growth through acquisitions.
This growth brings challenges in managing the lifecycle of the organization’s fixed assets. The manual work required to acquire, update and retire assets is consuming more time than expected.
SAP Intelligent RPA bot allows businesses to automate the following tasks:
- Create the Asset Master Data using an Excel Spreadsheet as the source
- Transfer assets across company codes and have financial documents posted to ensure that the fixed asset register is always kept up to date.
- Simplify asset retirement postings and the associated financial transactions are taken care of in the background through automation.
Intelligent Process Automation for Finance Intercompany “(foreign)” Transfer and Reconciliation.
A Global Management Consulting firm uses SAP S/4HANA Cloud, as the system of record for consulting activities performed globally.
The company also still relies on third-party systems in some countries where employees record their time and expenses. It’s necessary to import the revenues and costs related to those entries into the system of record. This task must be performed manually since the third-party systems do not have modern interface technology capabilities. This creates tasks that are labor intensive, time consuming and repetitive preventing business users from focusing on other value-adding activities.
To address the challenge SAP has proposed SAP Intelligent Robotic Process Automation to perform repetitive tasks of reassigning revenue and cost postings across system boundaries. This can be done using digital assistant bots that will read the third-party systems and record the information in SAP S/4HANA Cloud. The process is represented in the following diagram:
Intelligent Process Automation for Project-Based Services that helps to manage Project Roles across all relevant Projects.
A Consulting firm using project-based services with SAP S/4HANA Cloud, is growing their business and thus has a need to restructure their organization as new employees join the company, employees move departments, leave the company, or are on sick leave. It becomes necessary to update open projects with a replacement project manager or project members. In such a scenario, it is very time consuming to manually find and update all project roles in question.
Automation helps control project activities while minimizing human intervention. SAP Intelligent Robotic Process Automation functionality can quickly replace project stakeholders across all relevant projects and update optional project roles such as Project Partner, Project Controller and Project Accountant that had not been assigned upon project creation.
In a scenario where a Project Manager leaves the company a substitute can be maintained by simply switching the respective employee IDs. Once the project role update is finished in the system, the newly assigned resource will automatically receive a notification by email. Additionally, customers can extend the automation solution by introducing custom field project role updates.
The end-to-end process is depicted in the diagram below:
These are just three examples of the multiple scenarios where SAP is helping our customers to automate business processes. Please use this as food for thought so you can think about the capabilities that SAP Intelligent RPA could provide to enable automation in your organization.
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For more information on SAP S/4HANA Cloud, check out the following links:
- The power of best-in-class and Next Practices business content for a modern ERP blog post
- SAP S/4HANA Cloud: The Intelligent ERP blog post
- SAP S/4HANA Cloud: New Product Releases here
- Latest SAP S/4HANA Cloud Release blog posts here
- SAP Intelligent Robotic Process Automation Content here
- SAP S/4HANA Cloud release info: http://www.sap.com/s4-cloudrelease
- SAP S/4HANA PSCC Digital Enablement Wheel here
- Inside SAP S/4HANA Podcast here
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- Best practices for SAP S/4HANA Cloud here
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