Week 11 - RPA

True/False Cost reduction of 35-65% for onshore operations and 10%-30% for offshore operations

True

True/False Estimated that 85% of a typical firms 900+ processes can be automated

True

True/False RPA is a rule-based system that executes processes without the need for constant human supervision, and connects multiple systems without changing the existing IT landscape

True

True/False Robotic Process Automation mimics human actions

True

Digital enablement

adding a digital/mobil front-end to applications, particularly to legacy systems that are challenging to interface with

Data movement

sourcing, lightly transforming and loading data in/out of systems and tools e.g. spreadsheets or documents

What percentage is RPA estimated to lead to reduction in entry level roles and increase in mid level roles?

- 30%-35%

What are the three tools available to companies for RPA development?

- Automation anywhere - Blue prism - Uipath

What four existing processes does RPA compliment?

- Enterprise automation - cloud - desktop automation - in-house mainframe

What are some accounting process examples that RPA can help with?

- Preparing customer orders - Payroll - audit - taxes

What are some examples of financial operations processes that RPA targets?

- accounting - data entry - invoicing - receipt tracking - tax calculations - invoice payments

An innovation mindset includes the ability to:

- be agile and adaptive to constant change - think critically and with curiosity - solve problems creatively and embrace technology - redefine how work can get done faster, simpler and better

What are some examples of data and analytic processes that RPA targets?

- collect effective data - errors - costs - performance monitoring

What are the typical process characteristics that can be best suited for RPA?

- complex tasks - repetitive - multi-step - rule-based - labor intensive - standardized - based on structured data - high volume

What are the 3 primary uses of RPA?

- data movement - digital enablement - data processing

What are some examples of information technology processes that RPA targets?

- diagnose and fix technical problems - track open tickets - provide technical customer services

What are the seven benefits of RPA?

- improved efficiency - greater productivity - elimination of human error - cost savings - improved auditability, security, and governance - learning - reduced turnover

What are some examples of Procurement processes that RPA targets?

- requisitions - approvals - re-orders - invoicing

What are the challenges of RPA?

- start-up costs - changing organizational mindset - lack of technical ability - employee concerns

Robotic Process Automation

- the use of a software "robot" (a program) that replicates the actions of a human interacting with the user interface of a computer system

What are some examples of Human Resource processes that RPA targets?

- timesheets - document storage - benefit calculations - information issuance

What are the six steps of RPA implementation?

1. Identify the right process(es) to automate 2. Understand the process 3. Develop a flowchart of the process 4. Program the bot using an RPA tool 5. Test the bot 6. Deploy the bot

What are the 5 RPA skillset and key roles?

1. technical developer 2. solution architect 3. bot controllers 4. engineering support 5. security

Which of the following is NOT included in EY's innovation mindset? A. Be wary of technology risks to processes B. Think critically and with curiosity C. Be agile and adaptive to constant change D. Redefine how work can get done faster

A. Be wary of technology risks to processes

Which of the following is not an advantage of implementing RPA processes? A. Changing organizational mindset B. Elimination of human error C. Greater productivity D. Reduced turnover

A. Changing organizational mindset

Which of the following is a function of an RPA Technical Developer? A. Creates test cases and supports in testing phase B. Oversees and leads each automation "sprints" across all functions C. Reviews and provides input to RPA roadmaps, strategy and technical infrastructure D. Optimizes bot capacity and resource scheduling

A. Creates test cases and supports in testing phase

Which of the following is not an example use of RPA in an audit? A. Populating tax, VAT and intrastat return software B. Performing sampling and confirmations C. Loading client data into analytics tools D. Creating audit-ready workpapers

A. Populating tax, VAT and intrastat return software

Which of the following statements is true regarding RPA? A. Robots in an RPA process might also be referred to as bots or agents B. RPA robots are best suited for low volume tasks C. RPA robots easily mimic human intelligence D. Pattern based machine learning is a prime use of RPA robots

A. Robots in an RPA process might also be referred to as bots or agents

What percent of existing business process services are likely to be impacted by robotic process automation? A. 35%-65% B. 30%-40% C. 10%-30% D. 50%-75%

B. 30%-40%

What is meant by the phrase "RPA is not a bandaid for a poor process"? A. RPA can link unrelated legacy systems like a bandaid B. A manual financial process should function correctly before being automated C. Implementing RPA will fix poor manual financial processes D. RPA is a complete transformation for the financial process and not a bandaid

B. A manual financial process should function correctly before being automated

How does robotic process automation interact with existing systems? A. only works well with simple one-step tasks in the existing system B. Links existing systems together without changing them C. Requires large changes to existing systems D. Runs parallel to existing systems since they do not interact

B. Links existing systems together without changing them

RPA is _______________ A. Natural language processing B. Rules-based processing C. Neural network D. Artificial intelligence

B. Rules-based processing

What is the first step in the RPA implementation process? A. Understand the process B. Program the bot using an RPA tool C. Identify the right process to automate D. Develop a flowchart of the process

C. Identify the right process to automate

Data processing

Rapidly performing repetitive tasks otherwise done by staff to reduce cost, accelerate timing, improve reliability and reduce risk