Using RPA, Cognizant Softvision partnered with a global financial services client to save $8 million annually, reduce risk, and increase quality.
- Global network of more than 236,000 people in 158 countries
- Professional services include audit and assurance, tax and consulting, covering areas such as cybersecurity and privacy, human resources, deals and forensics
Our client wanted to enable innovation without having to take on a large-scale technological uplift.
COGNIZANT SOFTVISION’S SOLUTION
Together in the discovery phase, we created a road map tied to business outcomes. We gathered a cross-functional team of IT and business user stakeholders to determine key workflows that we wanted to automate. Then we did an analysis of the top Robotic Process Automation (RPA) software vendors and determined the vendor(s) that best suited our target outcomes.
Utilizing our RPA maturity curve model as the foundation of our strategic plan, we laid out the key objectives that we wanted to accomplish.
Working with their leadership and technology team, we set our sights on decoupling a key impediment from its dependencies. Together we developed a solution using RPA to reduce and remove quality and risk management efforts for repetitive error-prone tasks.
To ensure the engineered outcome is a cohesive, unified platform, the Cognizant Softvision product and design teams are held to the same KPIs, measuring on velocity, quality, product impact, and autonomy allowing for a seamless transition upon rollout.
Each Guild is a world-class community of expert talent in an area of expertise. For this client, the following Guilds are leading to the delivery of success:
After a three month project, we created a bot that automatically downloads and uploads data from multiple systems, three times a day. In some use cases, a single bot more efficiently completes the defined tasks of one or more workers. For repetitive error-prone tasks, Quality and Risk Management efforts can be removed due to a single point of review.
Cognizant Softvision was able to remove the need for 6,000 hours of manual labor and is expected to increase to save as much as 100K hours in the next year. The company saves $8M annually and the bots provide enormous increases in accuracy and quality with reduced risk.
With the onset of COVID-19, our Virtual Pods methodology (teams of globally distributed multidisciplinary experts) allowed us to be prepared when the crisis started. There were no significant changes in our delivery metrics or processes, we’ve kept our same sprint and release cadence, we are still spinning up new teams and apps, and things are rolling forward as normal.
We are proud to continue delivering outcomes at the same level as previously, before COVID-19 and focusing on operational risk reduction for our client.