Is it taking too much time to finish all of your accounting work at the end of the month? Are your revenue forecasts and risk predictions focused more on instincts than specific figures? If your organization is facing complexity in managing orders and you are missing important leads or have no idea of the stock, you might need an ERP system for your organization. Investing in such a solution helps businesses improve their performance and provides them with better business revenues. However, as every company is unique, there is no single aspect that could tell that the organization needs ERP.Read the top 5 signs that indicate when a business should invest in an ERP system. Sign 1 – Lack of Easy Access to Business InformationWhen the business starts growing, the data becomes huge and it becomes impossible to enter every single detail manually. In addition, getting immediate access to performance metrics and other key data becomes increasingly difficult with a growing scale. The ERP system produces accurate real-time data that enables employees to get instant access to important information any time. Sign 2 – Spending Too Much Time On Accounting ProcessOne of the major signs that your organization requires a proper ERP system lies in its accounting process. Small or medium-sized businesses generally rely on paperwork for maintaining invoices or sales orders. Due to this, employees spend hours entering  long details into multiple accounting and sales systems. All of this can easily be tackled by an ERP system. Availing such a service can help business owners maintain their financial or accounting data within a single database. This makes the accounting staff available for delivering more critical reports without delays and/or frustration. Sign 3 – Low Sales & Customer ExperienceEnsuring that the stock reaches the right place at the right time becomes challenging when the inventory, sales record and customer data are maintained separately. Situations like this can create serious issues across the company, affecting customers’ experience, profitability, and ROI. A business can overcome this by implementing an ERP system that allows employees to get access to information in real-time. This, in turn, enables the team to resolve customer’s queries more efficiently and quickly. Sign 4 – Complex & Time-Consuming IT SystemOne of the major drawbacks of having multiple systems for different purposes is that IT management becomes a nightmare. Integrating, maintaining, and customizing everything simultaneously becomes time-consuming and often demands huge investment and resources. Also, there is no surprise that most small or medium-sized businesses are working on software that makes their processes extremely complex. This is a major sign that organizations should shift to an ERP system. It has the ability to respond to changing business needs and can streamline processes.Sign 5 – Business Has Multiple Softwares for Different PurposesConsider a company’s scenario where the accounting staff uses one software to pay or receive an amount while the sales department uses different software to enter details of all the orders dispatched or received. The situation becomes troublesome when the data is huge and creates problems in the functioning of the process. Such situations can easily be tackled with an ERP system.ERP can give you the agility to respond to growing and changing business needs. That is why consulting a professional ERP solutions provider becomes vital. At SVAM International, we provide the best of IT services to organizations operating in different industries and help them achieve their business goals swiftly. Choose from a wide range of services today and live a successful tomorrow! 
The role of staff augmentation services in business growth has grown tremendously. IT development is the core aspect of any business and has been growing at such a fast pace that it requires to outsource its services. Staff augmentation service caters to the needs of many businesses as it boosts the business’s flexibility and helps it grow at only a fraction of the cost.But not all businesses are convinced about outsourcing of their services. This blog shall help you determine whether your organization needs Staff augmentation.What Is IT Staff Augmentation?First things, first! Staff augmentation is a popular business strategy where organizations can hire professionals to accomplish short-term business goals or complete their projects. Businesses adopt this approach for so many situations: 
  • When they are building a product or software and need professional assistance to fulfill a particular requirement.
  • When there are fewer employees and the project deadline is near. 
  • When they have a small budget and cannot afford to hire full-time employees.
  • Where there is a need to extend the working team for a short period of time. 
Advantages of IT Staff Augmentation Models for Businesses
  1. Scale Your Business Faster
    In almost every business, workload varies with time, and in such situations, temporary staffing is the best solution. Staff augmentation allows businesses to scale up their workforce in a short span of time at a significantly lower cost. By cutting down the cost of hiring full-time employees for specific projects, organizations can scale their business faster. 
  2. Provides You Better Control
    Staff augmentation services provide organizations a chance to hire talent based on their skill sets. This provides companies with better control over their projects without expanding their in-house teams. Organizations can easily identify the areas where employees need help and tailor their staff augmentation to fit those requirements.
  3. Meet Business Goals On a Low Budget
    Hiring full-time employees for short-term projects costs more time, effort, and money. Not every organization has the budget to expand its in-house team to meet business goals. This is where staff augmentation services can lessen the burden. This strategy works best, especially when an organization does not have an adequate budget to meet business goals. 
The list is not exhaustive as IT Staff augmentation services offer countless advantages to organizations. If you are looking to expand your team through staff augmentation services, you can get in touch with the experts at SVAM International. We are one of the leading IT service provider companies that can help you meet your business goals.
Banking and financial services are the backbones of the economy. The human efforts in these sectors are approaching a point of being overwhelmed, and the competition from FinTech and other services is further putting a lot of pressure. These institutions are doing everything possible to optimize their spending while also boosting their productivity. The rising scarcity of skilled professionals and increasing costs of hiring resources have given birth to the need for Robotic Process Automation (RPA) in financial services. And financial institutions across the globe are eying automation technologies as a next step in the evolution. But how has RPA impacted the sector and what benefits has it brought to the table? Let’s take a look.Benefits of RPA in Banking and Financial Services
  • Cost-Effective
    Cost-saving is one of the most important factors in any industry and for a financial service provider, it is monumental. Manually doing back-office work, fund transfers, claim processing, and so many similar tasks often take time. This is why such tasks are often outsourced. Keeping them in-house with RPA can save a financial institution time and money. In fact, small investments made into RPA right now will give immediate value benefits.
  • Risk and Compliance
    Auditing in banking and financial institutions is a critical aspect of operations. With RPA, it becomes easy to check the audit trails because they are digitized and cover almost every step of the way. In addition, it also reduces the risks in business while also increasing the level of process compliance.
  • Improved Productivity
    In the contemporary business environment, there are still a number of operations, transactions, and consumer interactions that happen beyond normal bank hours. RPA keeps working 24/7, completing tasks overnight without tiring. On top of that, it can complete more tasks with consistency in an hour as compared to a human while trying to maintain the same level of efficiency.
  • Zero Infrastructure Cost and Easy Deployment
    Implementing RPA does not require any significant changes in the infrastructure, especially if it is cloud-based. It is a program that automates according to the UI, reducing the hardware and maintenance costs. Moreover, deploying RPA is not difficult; all you need is one professional, and then it is simply just plug-and-play.
  • Reduced Human Error
    Businesses today need greater data security, least disruptions and quality work consistently. RPA is the best way to reduce human error from the equation and improve the overall accuracy of the process, while also ensuring compliance.
RPA is a novel innovation that has been transforming the domain of financial services. It has a number of applications and great benefits to offer. This is the primary reason why RPA in financial services has gained such a vast amount of popularity in the last few years. If you also wish to make RPA an integral part of your work, book your appointment with SVAM International Inc. today.
There are close to 2 billion websites in the world, each of them competing to get the necessary traffic from their target audience. Some of them remain relevant for longer, while a huge number of these websites rarely see any action from the online world. Why this disparity? There are a number of factors that affect this influx of internet users on a particular website, but one of the important factors is how useful and trendy a business’s website is.To stay relevant, web developers keep on finding innovative ways to give the user experience a fresh new feel. There are certain trends that they follow to make websites more dynamic, practical, and focussed on the main objective of the business.Here are the top 2021 web development trends that you must keep an eye on.Web Development Trends of 2021
  • Progressive Web Apps Development
    Progressive Web Apps (PWA) have been catching up slowly with the efficacy of Native apps while adding a new level of convenience to their use. Statistics show that PWAs have about 36% higher conversion rates than native apps. That means it will definitely overtake native apps in bringing a mobile app-like user experience across devices this year.
  • Dark Themes
    Dark theme on apps was the most fascinating trend of the last couple of years, and a number of brands jumped onto the wagon for adopting a new UI for their Apps. 2021 will be about bringing the dark theme to websites, adding a stylish touch to the user’s experience. Given how bigger giants have already adopted the dark themes on their websites; it has the potential to become quite a huge trend.
  • Single Page Websites
    A trend that really caught in the year 2020 was single-page websites. 2021 will be the year that sees the trend perfected. Extensive websites look great; however, they are quickly becoming obsolete now. Single-page websites are quicker to load and especially easy to navigate, and with the rising number of mobile devices, they are surely going to become a viable and scalable trend.
  • Website Security
    Website security, especially for businesses that deal directly with customers’ information and e-commerce websites, is a constant matter of concern. According to a report, as many as 50,000 websites are breached by hackers in a single day, which makes it important to put proper security features in place for websites, in the year 2021.
  • Cloud Computing
    With a market share of $300 Billion+, public cloud services are expected to grow even bigger in 2021. It will continue to replace regular servers around the world as more and more businesses, whether large, medium, or small, begin to come aboard the cloud platform.
These web development trends are not only a prediction about what you must expect from businesses this year but also what you must expect from developers while availing custom web application development services.SVAM International Inc. makes use of the latest technology and follows the latest trends to ensure that every need of our customers is met. Book your consultation today with SVAM International’s experts.
There is a digital revolution happening right now, and given the current circumstances, businesses are now realizing the importance of going digital. With increasing mobile device users, services like shopping, payments, information; almost everything you can imagine are now available online. Almost every business is now moving towards having their own website to tap into the consumer base that wants everything on the go.While there are a number of ways that this can be done, a custom website is a more ‘out-of-the-box’ way that gives businesses full control of what they want to show and what they don’t wish to put on display.There are six reasons to choose getting a custom website which will enable you to outshine the competition.

Reasons To Choose Custom Web Development in 2021

  • Unique There are tailored features, functionalities that businesses will only find in a custom-made website along with a design that is created according to the brand. A unique website makes a brand more recognizable and leads to an increased brand recall.
  • Speedy Website In a world where even a second’s delay can become the difference between engagement and bouncing off, shedding a few seconds from the load time can make a huge difference. Using a template for a website would mean that it would often come with functionalities that the business may or may not need. Adding the extra load time on the website for the unused functionalities never makes sense, which is why getting a custom website is better since businesses can choose what to add and what to avoid.
  • Enhanced Security Cyber-attacks are a common threat in a time like this. Many businesses have often slept in the night only to wake up and find that their website became the target of cyberattacks. Cybersecurity is a matter businesses need to give its due thought. This can be solved with a custom website, security encryption, and certificates that the business needs to save users’ data, as well as any other sensitive information.
  • Enhancing The Customer’s Journey The way a website is designed and planned has a huge impact on the experience a visitor or a customer will have on the site. The website not only needs to be easily navigable but also should be easy to interact with. This is how businesses can convert even a visitor to a customer.
  • Search Engine Optimization It is a well-known fact that a custom-made website performs really well with any optimization that businesses may have planned for their visibility on search engines. Relevance, speed, and mobile-friendliness are all critical factors when it comes to SEO, and that is why a custom-made website is the best choice.
  • Personalized and Localized Every business needs to start somewhere. When they start with a local market and begin to upscale, businesses realize how they can make the website feel more personal and cater to a specific demographic in a particular location by upgrading their functionalities.
On the plus side of things, a custom website is easier to maintain and upgrade, and has shorter turnaround times. You will be reducing your investment into the website with time while still reaping the benefits. For top-notch services in custom web application development, get in touch with SVAM International Inc. for completely managed services of custom website development. Book a consultation now and begin your digital transformation journey
The world today is extremely data-oriented. It not only makes the foundation of businesses prevalent in today’s time but also dictates how businesses interact with their audience. Irrespective of their size, businesses need data and valuable insights to stay relevant to their consumer base. Efficient data analysis and presentation can help organizations achieve their business goals and objectives faster.However, enormous amounts of data have become available at the hands of decision makers. Due to rapid growth of data within organizations, it becomes difficult to draw valuable insights and make advantageous business decisions.Such value can be provided with Big Data analytics. When the database becomes huge and makes it difficult for businesses to understand trends, preferences, and patterns, Big Data analytics help organizations understand and sort through these interactions between people and systems. It helps businesses recognize their most valuable customers and tailor their services to create new experiences, services, and products for their consumer base.It is a new-age competitive advantage that businesses all over are searching for. So what wonders can businesses expect from the world of Big Data and Analytics? Here is a comprehensive look at 5 advantages of Big Data for business.

Benefits of Big Data for Business

  • Consumer Interaction Consumers today understand their exact needs. They often compare all the options that are available. They interact with social media and web platforms to get special treatment from brands, like information on discounts and new offers. Big Data is a far-reaching approach to single out these customers and engage with them in real-time. It also helps in monitoring their latest interactions and their sentiment analysis.
  • Re-Develop Products Feedback is an important part of any product or service that businesses provide to the customers. Big Data is the doorway to the world that helps businesses constantly and consistently re-develop their products to get more tailored to the needs of users. It becomes easy to uncover the general feedback of the user, as well as desegregate feedback based on geographical location.
  • Risk Analysis The success of a business depends on a lot of factors, including how they approach the economics and social aspects of running a company. With Big Data, organisations can run predictive analytics to assess every step before taking them. They can also keep track of the latest trends and developments in the industry.
  • Safety of Data Securing user’s data is one of the most important needs of the current times. Not only will Big Data help in securing data from outside forces, but will also help businesses identify internal threats to their data as well. Especially useful for credit companies, shopping sites, and financial institutions, Big Data is a great way of staying ahead of the curve.
  • New Revenue Streams The insights that Big Data analysis provides is not only relevant to the business, but it is also a great help to other businesses in the same field. Selling all the non-personalized data gathered through analysis can be sold to bigger players, especially the ones who have the resources to act on the information.
There is no doubt Big Data is about to revolutionize the way almost all the industries work around the world. For all your Big Data consulting needs, SVAM International brings you the services of expert data analysts who are dedicated to bringing value to your business through relevant data streams. Book your consultation now.
Cloud computing has changed the way people and businesses interacted with the world of the internet. Cloud computing environment provides great flexibility and availability of computing resources at a lower cost. This emerging technology has opened up new avenues in different disciplines of varied industries.The idea of making services available remotely instead of an on-site server, completely changed the game for all kinds of services that are offered online. It made everything faster, available at users’ fingertips, and almost changed everything.At SVAM International, we understand the many benefits of cloud-based technology for our clientele and their businesses. With expert cloud service providers and solution architects at SVAM International, we use best-in-class tools for monitoring, management, automation, delivery, and servicing of all cloud-based solutions, so businesses can achieve their goals, improve their profitability and increase their ROI. Here’s a glimpse of cloud-based services that we offer so that you can embark on your journey of Cloud.

Cloud Advisory Services

Cloud is undoubtedly an evolution in technology, especially in a world that is becoming more and more mobile-driven. The Cloud Services team at SVAM International helps clients understand the importance, benefits, and strategies of Cloud. Our team provides full consultancy on the adoption of cloud, for the migration of legacy systems to cloud, and aid businesses in the complete deployment of their systems. Major benefits of our cloud advisory services include:
  • Application portfolio assessment
  • Architecture Strategy & Roadmap
  • Evaluation & Selection of the right cloud platforms
  • Cloud TCO analysis & ROI

Cloud Migration Services

A lot of complexities are involved in moving an existing critical business infrastructure and applications to the cloud. These are integral to any business, which is why SVAM’s cloud migration services team is dedicated to helping businesses define a clear roadmap for their migration plan. Because there are so many complexities involved, the team will also design a proper risk management plan before executing the move. The highlights of this service are:
  • Infrastructure Migration
  • Application and Data Migration
  • Cloud migration framework
  • Pilot migrations with pre-migration testing
  • Migration tools & Migration process templates
  • Assessment, Design, Planning, Migration, And Testing
  • Cost-Effective
  • Zero Downtime

Cloud-Native Application Services

Native Applications are a collection of small services that are interlinked with each other while also being independent of each other. It is the best way to speed up the app-building process, while also optimizing existing applications, and in the end, connect them all together. SVAM holds expertise in microservices, Dev ops, infrastructure, and test automation that helps organizations develop cloud-native applications that can scale the market easily and rapidly. The highlights of this service are:
  • Microservices and Containerization
  • Custom Application development
  • Infrastructure Automation
  • Logging & Monitoring
  • CI and CD Server
  • Service Discovery
  • Container Orchestration
  • Distributed Streaming Platform
  • Service Management
  • Databases
  • Secret Management
SVAM uses the latest and top-notch platforms like Amazon Web Services and Microsoft Azure to enable enterprises to create their very own customized application. We are one of the leading cloud service providers based in the USA with offshore teams in Mexico and India, dedicated to helping businesses from all over gain a boost in the digital revolution. Book your consultation with our team of experts and bring your business online.
The coronavirus crisis sees CIOs accelerating their adoption of automation, analytics and new processes to cope with the pandemic’s disruptions and steer the enterprise forward in uncertain times.As the coronavirus began ravaging New York’s Suffolk County in March, desperate health department officials turned to CIO Scott Mastellon for help processing citizens’ lab tests for COVID-19. But with the state averaging 400 COVID-19 cases a day, compiling, printing and sorting reports for health-care staff proved unwieldy for the 12 people who were manually moving data between systems.His staff overwhelmed, Mastellon turned to robotic process automation (RPA). Within 11 days, Mastellon had deployed three bots to extract data from the state’s website, move it into a database, then push it into the health department’s case management application with a high degree of accuracy, Mastellon says. The staff who were entering the data are now working on other COVID-19 support services for a county buckled by the pandemic. “Everything is electronic today,” Mastellon says. “It really is a home run.”Suffolk County’s story is just one example of an emerging trend across many industries. Although there is currently no vaccination for COVID-19, the pandemic has been a booster shot, spurring organizations to abandon deliberation and accelerate innovation, CIOs and experts say. Sixty-one percent of 414 IT and business experts surveyed by IDG in April are accelerating their digital transformation efforts.“A lot of organizations are viewing this as the shock to the system that has accelerated everything that they’ve been doing,” says Scott Snyder, who heads the digital and innovation practice for Heidrick Consulting.

The drive for more data

This is the case as well at gaming developer Unity, which fields technical support requests from 3,500 employees through help-desk bots running in Slack, says CIO Brian Hoyt. There, employees engage Ninja Unicorn, a bot that uses natural language processing (NLP) software from Moveworks. Identifying nuances in human language, Ninja Unicorn quickly sorts through help-desk requests, provides employees answers where possible and ferries them onto support personnel as needed.Once a luxury, bots have become a necessity as Unity’s help ticket volume has soared 89 percent since employees began working from home in March, Hoyt says. Moreover, Unity has logged a 600 percent spike in questions related to company policy and COVID-19.Requests for data analytics reports have also soared at Unity, as business executives and developers seek more operational data, and sales and marketing executives seek insights into performance, Hoyt says.Another hot list analytics item: Information about employee productivity and engagement to make sure that nothing is getting in the way of workers doing their jobs, Hoyt says. Taking action on that data is something Unity is still working through. “How we want to address that is more of an art than a science,” he adds.The imperative for greater automation and data analytics is no surprise, as HR, legal, finance and other business lines are seizing the opportunity presented by the pandemic to transform, says Snyder, who co-authored Goliath’s Revenge: How Established Companies Turn the Tables on Digital Disruptors. “Digital is everybody’s job,” he says.Since COVID-19 struck, SurveyMonkey CIO Eric Johnson has also increased his attention on data analytics to ensure that executives have a “clear line of sight on the company.”Predictive modeling has always helped anticipate customers’ propensity to purchase, renew and churn, but executives haven’t always regularly sought such information. Now executives are asking for data about everything from the company’s exposure to industries decimated by COVID-19 to data points about pricing models, feature sets and renewal rates. And they want it in days or hours. “It’s the new, new normal and it’s going to become a permanent feature,” Johnson predicts.Access to data can also help newly remote workforces feel moored to their companies and colleagues. Previously quarterly meetings among vice presidents now convene monthly at SurveyMonkey; the company also polls employees bi-weekly to get the pulse of its workforce.“Mental health is such a huge focus because if your staff is unproductive because they’re demoralized it has a massive impact on the business,” says Johnson. “If we don’t ask how they’re doing we will never know.”

Silent meetings make the most noise

With the pandemic shaking up operations, corporations don’t want to run the risk of reverting back to pre-pandemic processes that may have been suboptimal, Snyder says.This is the case at Iron Mountain, where new work-from-home policies have helped CTO Kim Anstett overhaul how she runs meetings. Previously, two or three people would do most of the talking for 45-minute meetings, with inevitable side conversations popping up after the meeting concluded. But there was no real dialogue, no consensus-building or agreement that staff had accomplished its objective for the meeting. Having several such meetings over the course of workday was draining, Anstett says.Recently IT staff have congregated, albeit remotely, in “silent meetings.” In this construct, staffers co-write a few questions into in a Google document. Staff spend 25 minutes answering the questions and co-editing the document after which a meeting facilitator guides a 20-minute conversation through a Google Meet videoconference. This open, collaborative process has energized the team, making meetings more meaningful and productive, says Anstett, who cribbed the concept after reading about it in Bruce Daisley’s Eat Work Sleep Repeat: 30 Hacks for Bringing Joy to Your Job.“We will absolute use this as a new way of working coming out [of the pandemic],” Anstett says. “[COVID-19] was just the forcing factor to try something different.”Ditto for Suffolk County, where the bots Mastellon’s created with UiPath’s RPA software are now processing more than 850 COVID-19 case reports per day for the county, which has reported more than 30,000 positive COVID-19 cases. Mastellon plans on investing more money in maintaining and supporting the existing bots, though he says the potential for automating more manual tasks in the municipality is “endless.” Emboldened by the success of his COVID-19 case file automation, county workers are asking him to automate various tasks to serve the municipality.“This will go down in history as the worst emergency we’ve had in a long time,” Mastellon says of the pandemic. “But if I can take one positive thing it’s that it’s challenged us in technology to come up with innovative solutions quickly and efficiently.”This innovation or bust mindset is the right one, says Snyder, who adds that CIOs should use the crisis to educate non-technical leaders on the importance of digital leadership. “It’s a great time to raise everyone’s game on the digital side,” he says. “Don’t let them go backwards.”Source : click here
Great Neck, NY, USA – (24 April 2020) – SVAM International is pleased to announce the deployment of Robotic Process Automation technology (RPA) to accelerate the reporting of COVID-19 testing results across Suffolk County (NY). The application of this advanced technology benefited the County by dramatically reducing the delay in reporting test results as well as virtually eliminating the manual effort necessary to accomplish this process.Great Neck, NY — 04/27/2020 –Prior to automation, Suffolk County was limited to manually processing patient lab test data provided by New York State. At the current testing volume, this manual process required over fifteen full-time experienced nurses to handle the data transfer. The County projected the necessary personnel/ resources dedicated to this task to continue to increase in line with the volume of testing.SVAM was engaged by Suffolk County on an emergency project to make the data transfer process scalable and timely, while sustaining data quality. The SVAM team leveraged cutting edge technology (UiPath’s – Robotic Process Automation – RPA) to automate the end-to-end process improving the quality and availability of the data for the County in less than ten days.Scott Mastellon – Commissioner of Information Technology, Suffolk County“SVAM’s ability to quickly understand our problem, stand up a team of experts to design a solution and successfully implement that solution within 10 days was simply incredible. SVAM’s commitment to our needs and ability to execute was critical to County’s Covid-19 response efforts.”Manav Bhasin – Managing Director, SVAM International“The SVAM team took on this challenge and leveraged our RPA expertise to help Suffolk County. We worked tirelessly with the Suffolk County IT team to quickly develop a solution. From the onset of the project, as we analyzed their manual process, we were able to envision how their process could be automated with an army of “Bots” freeing up valuable personnel for more critical patient related tasks. The successful implementation of this project has provided a great deal of satisfaction knowing the impact on Suffolk County and its residents.”About SVAM InternationalSVAM International is a global Information Technology (IT) services provider that delivers value to clients by providing the people and solutions they need. Since its inception in 1994, SVAM has grown into a $50M global organization with over 700 technology professionals in the United States, Mexico, and India, with skills across a wide range of technologies.About Suffolk CountySuffolk County incorporates the easternmost extreme of the New York City metropolitan area. The largest of Long Island’s four counties and the second largest of 62 counties in New York State, with a population of almost 1.5 million peopleSource : click here
It’s not hard to develop a business case for digital labor and robotic process automation (RPA) that shows attractive returns. But will it be accurate? Often, many financial institutions don’t see the results they expect. Without knowing their true pain points or support requirements, companies will miss out on ways to scale the benefits, and they’ll leave money on the table. With a realistic roadmap, you won’t be surprised by hidden costs, and you’ll apply digital labor where it can have the greatest effect.While financial institutions are attracted to appeals of digital labor from software providers and business process outsourcers, many financial institutions are facing an unpleasant reality: the savings they’re seeing are nowhere near the savings they’ve budgeted for.There are two complementary factors at work here:
  • Budgets were unrealistic, because financial institutions didn’t adequately address digital labor’s cost drivers
  • The value from digital labor inevitably comes from applying it strategically and consistently, rather than rushing into a narrowly defined technology implementation
Know your costsDigital labor projects are likely to face a variety of contingencies. They’re all solvable, but they all involve additional cost and overhead. Digital labor projects include a mixture of costs whether you own the tools or you outsource the operation. By setting appropriate expectations at the start of your digital labor projects and having a clear-eyed assessment of what your costs will be, you are in the best position to make better decisions as the project proceeds.Getting the most value from digital laborBased on our experience, you can use a general ratio of 2-2.5 full-time equivalent (FTE) per robot, depending on scale. This being said, you won’t see an adequate return on investment if you merely free up a few hours in a person’s week. If you can restack some activities across roles so they can be automated more consistently, you’ll be more likely to free up the FTEs you budgeted for. Furthermore, to scale a digital labor program you need to look at it in the context of your overall operational strategy. Otherwise, you can get stuck with antiquated processes or systems that you’ve intended to phase out, which can kill your ROI.Developing the business caseMost large financial institutions we know have implemented one or more small proof-of-concept projects, but they typically haven’t made the jump to broader adoption. So how do you develop a realistic business case? By understanding the reasons why companies don’t see full savings from digital labor and implementing a realistic roadmap, you’ll be able to apply the technology where it can have the greatest effect.Source : click here