All posts by : Solutionyst

It can be easy to think that Intelligent Automation is the holy grail of all business solutions. It saves time, it saves money, and it releases stress from members of staff. Right? Well, it isn’t always the best solution for the task at hand. This can depend on many different factors. I believe the main one is the source of the process itself.

I am a firm believer that you shouldn’t automate a poorly optimized task. What do I mean by this? The best phrase I could use to explain is “you can’t polish a turd”. In the sense that a process that has been poorly created, to begin with, will not suddenly become a good process once you implement automation.

What is an inefficient process?

An inefficient process is one that is not optimized to save time or money. It can be a manual process that takes too much time or an automated process that is not configured correctly. There are many factors that can contribute to an inefficient process.

Some common causes of inefficient processes are:

• Lack of standardization
• Poorly designed processes
• Lack of communication
• Manual processes

These are just some of the causes of inefficient processes. I would recommend this article to learn more about the reasons your business processes could be inefficient.

Now that we know what an inefficient process is, let’s talk about why you shouldn’t automate one.

Why you shouldn’t automate an inefficient process?

There are a few reasons why you shouldn’t automate an inefficient process. The main reason is that it will not suddenly become a good process once you implement automation. The automation will just make the process easier to do, but it won’t make it any better.

Another reason is that automating an inefficient process can be very costly. If the process is not well designed, implementing automation can be very difficult and expensive. It is important to remember that you should always automate a process that is already well-optimized.

The last reason I will mention is that automating an inefficient process can cause more problems than it solves. If the process is not well designed, automating it can lead to errors and inaccuracies. This can cause frustration for employees and customers alike.

These are just some of the reasons why you shouldn’t automate an inefficient process. I believe that the best solution is to optimize the process first and then automate it. This will ensure that the process is well designed and that it will run smoothly.

How to fix an inefficient process

If you find yourself in a situation where you have an inefficient process, there are a few things you can do to fix it.

The first thing you should do is to identify the root cause of the problem. This can be done by looking at the factors I mentioned earlier. Once you know the cause of the problem, you can start to look for a solution.

The next step is to find a way to optimize the process. This can be done by streamlining the steps involved in the process or by automating certain parts of it. Once you have optimized the process, you can then start to think about implementing automation.

Finally, you should always test the process before you implement it. This will ensure that the process is running smoothly and that there are no errors.

How to Implement an Automated Process

Now that we know why you shouldn’t automate an inefficient process, let’s talk about how to implement automation.

The first thing you need to do is to identify the tasks that can be automated. This can be done by looking at the process and identifying the steps that are repetitive or time-consuming. Once you have identified the tasks that can be automated, you need to decide which software or tool you will use to automate them.

There are many different software and tools available that can help you with automation. I would recommend doing some research to find the one that best suits your needs.

Once you have chosen the software or tool you will use, you need to configure it. This can be a difficult task, but it is important to make sure that the automation is configured correctly.

After the automation is configured, you need to test it. This will ensure that the process is running smoothly and that there are no errors.

Then, you need to implement the automation. This can be done by deploying the software or tool to the production environment.

Finally, you need to test the automation. Many automated processes will seem perfect when planned out on paper. However, it isn’t until you actually rigorously test the process over a period of time that you will pick up on the small nuances and issues which can cause bugs in the process. When creating an automated process, I go into at least a couple of weeks of testing where the process is running in production, however, I will watch it from start to finish and note any issues to resolve.

Focus Intelligent Automation on Higher Value Tasks

Sometimes it isn’t worth fixing a process to the point where it is then worth automating. What I mean by this is that sometimes making a process efficient enough to automate does not actually produce much value. You will find that a lot of time will be spent optimizing the initial process, but then the actual value derived from the automation is minimal.

In these cases, it is often better to focus on automating the tasks which will produce the most value. For example, if you have a process that takes two hours to complete and you can automate 80% of it, you will save 1 hour and 12 minutes. However, if you have a process that takes 10 minutes to complete and you can automate 80% of it, you will only save 8 minutes.

The key here is to focus on automating the tasks which will produce the most value. This can be done by looking at the time taken to complete the task and the potential savings from automation.

Optimizing Manual Tasks

There are many tasks which can be automated, but sometimes it is not worth the effort. In these cases, it is often better to optimize the manual task. This can be done by streamlining the steps involved in the task or by automating certain parts of it.

For example, if you have a task that involves filling out a form, you can optimize it by streamlining the form. This can be done by removing unnecessary fields or by making the field names more intuitive.

Another example would be if you have a task that involves sending emails. You can optimize this task by automating the email sending process. This can be done by using a tool like SendGrid or Mailchimp.

Think: Does This Automation Improve the Customer Experience?

One of the most important things to consider when automating a process is whether or not it will improve the customer experience. You need to think about how the automation will affect the customer and whether or not it will make their life easier.

For example, if you are automating a process that involves sending out emails, you need to think about how the customer will receive the emails. Will they be able to read them easily? Will they be able to find the information they need?

Another example would be if you are automating a process that involves filling out a form. You need to think about how the customer will fill out the form. Will it be easy for them to understand? Will they be able to find the information they need?

You also need to think about how the automation will affect the overall customer experience. Will it make it easier for them to do business with you? Will it make it easier for them to get the information they need?

Think: Does This Intelligent Automation Require Human Intervention?

Something to consider when deciding whether to automate a task is whether or no human intervention is required. Or, perhaps, more importantly, the level of human intervention which is required. You need to think about how the automation will work and whether or not it will be able to run without any human intervention.

As a real-life example I have experienced, if you are automating a process that involves sending out emails, you need to think about how the emails will be sent out. Will they be sent automatically or will someone need to manually send them? Something which many may not consider is the roadblocks outside the process itself. For me, I was implementing a process that ended with a report being sent via email. The problem? Everything worked perfectly except for that final email. The reason was that the company had a firewall that blocked any ‘automated emails’ being sent from their computers. The IT was adamant there was no way they would allow this to happen, and therefore the automated report died.

Ultimately, I found a solution where the report was sent via Teams message rather than email. However, these things should still be considered before creating the process, rather than finding out afterwards. This was a valuable lesson I learned that day.

You also need to think about how the automation will affect the overall process. Will it make it easier for humans to do their job or will it make it harder?

Think: Does This Intelligent Automation Add Value?

As mentioned previously, you should focus on automating high value tasks. That’s not to say you cannot automate some smaller tasks. For example, in my early days of automation, I made a very simple script that downloaded two reports on a daily basis, sorted them into the correct files, and emails them out to a team. This saved approximately 3 minutes per day. But the script itself only took me 10 minutes to make and has run seamlessly since.

That small 3 minute saving per day equates to almost 15 hours per year. Not a huge saving, but considering it took me 10 minutes to make, it is obviously a net benefit.

It all comes down to the overall benefit. If, on the other hand, the intelligent process automation solution here saved the same amount of time, yet was a complex implementation of intelligent automation. The outcome may have been different. Let’s say it took me 10 hours to create the solution. Sure, we’re still receiving a net benefit over a year. However, this also assumes the process runs perfectly and requires no updates over time. In reality, you would probably find that you spent more time creating the automation than the automation saved in time.

How to Calculate Intelligent Process Automation Cost Savings?

It is more difficult than it may seem to quantify the benefit of intelligent automation. Understanding your business processes is at the core of estimating the benefit. The goal is obviously to reduce costs, and improve the day to day operations of the business. But how do you know what is going to add value before you actually implement the intelligent automation to the business process?

In order to accurately estimate the potential benefit, you need to first understand how the business process is currently being completed. This will involve some investigation and analysis of the current process. You need to ask questions such as:

– How long does it take to complete the task?

– How many steps are involved in completing the task?

Some intelligent automation processes will be clear as to whether they create productivity gains. However, some more complex processes are difficult to really comprehend how simple the intelligent automation implementation will be.

Ultimately, understanding automation capabilities and the implementation of intelligent automation solutions will really hold you in good stead here. To some extent, it comes down to the experience of implementing intelligent automation into business operations. We all learn from experience, and learn from mistakes. Intelligent Process Automation is something that will teach you new things over time, and you never get to a point where it is a perfect science.

If you are not an expert on intelligent automation, or process automation, then it may be worth bringing in an expert to consult on which processes are worth automating, and which are not.

In Conclusion…

In conclusion, when shouldn’t you use intelligent automation? In short, don’t automate an inefficient process. It will be costly, difficult, and can cause more problems than it solves. The best solution is to optimize the process first, and then automate it. This will ensure that the process is well designed and that it will run smoothly. If you find yourself in a situation where you have an inefficient process, you can try to fix it by identifying the root cause of the problem and then finding a way to optimize the process. After the process is optimized, you can then automate it using intelligent automation. If you are new to the automation of business processes, then it may be worth consulting an expert to understand whether there really is a business case, and to what extent the manual work within your company can be reduced.

We are seeing a growth in automation in the business world. However, we are also seeing a growing interest in ‘Smart Automation’ in our homes too! “Smart Homes” have been a thing for quite a while, both in reality and in the world of Hollywood. However, until recently, really cool smart tech was out of bounds for anyone without a massive spending budget for their home. We have seen automation gadgets become more mainstream recently, and as a result, the price bracket has become far more approachable by the masses.

Your average person can now begin adding sensors and little automation gadgets to their home, starting from as little as $30! Furthermore, these gadgets have become so accessible that you no longer need to be a tech whizz in order to implement them.

With all of this in mind, it can still be somewhat overwhelming knowing exactly what you could implement into your home in order to create a smart home environment. Therefore, we’ve pulled together five amazing automation hacks which we have implemented into our own home, and what we believe anyone looking to do the same should start off with.

There are an increasing number of options available to those who want to automate aspects of their home life. Here are 5 amazing home automation hacks that can make your life easier:

1. Remotely control your home lighting using your smartphone or home assistant. This is a great way to save energy and add convenience to your life.

2. Automate your home security system to include features like motion-activated cameras and door locks. This will give you peace of mind and deter burglars.

3. Use home automation to control your home appliances and save energy. For example, you can program your washing machine to only run during off-peak hours.

4. Create a home entertainment system that can be controlled from your smartphone or home assistant. This will make it easy to play music, movies, and TV shows at the touch of a button.

5. Use home automation to make your life more convenient. For example, you can program your home assistant to remind you of upcoming appointments or to turn off all the lights when you leave the house.

Now, let’s go into a little more detail in how you could implement the five suggestions into your own home.

Automated Home Lighting

An automated home lighting system is a great way to improve your home’s energy efficiency and security. With an automated system, you can control your lights from anywhere in the house, whether you’re at home or away. You can also set timers and schedules to suit your needs. Plus, automated systems often come with security features like motion sensors that can deter burglars. So if you’re looking for ways to save energy and money, or improve your home’s security, an automated home lighting system is a great option.

Automated Home Security System

An automated home security system is a home security system that uses technology to automate the process of keeping your home safe. This can include features like automated door locks, security cameras, and more. Automated home security systems can offer a high level of protection, making them a great option for families or businesses.

Automated Energy Saving (Appliances)

There are many platforms, services and products which you can use in order to reduce your overall energy consumption within your home. Some products will help you monitor your energy usage, and make you more conscious of where you may be over-consuming. Other products will actively reduce your consumption. Automated energy saving products are becoming increasingly available and popular, as they can be very effective in saving you money on your energy bills.

One automated energy saving product is the Nest Thermostat. The Nest Thermostat is a learning thermostat which programs itself to save you energy, based on your usage patterns. It can also be controlled remotely, so you can make sure that your home is not using more energy than necessary when you are away.

As already mentioned, there are home lighting options. These can not only be ‘automated’ but also actively benefit your energy consumption. Automated energy saving products include LED light bulbs, which use less energy than traditional incandescent bulbs, and occupancy sensors, which can turn lights off automatically when a room is empty. There are also many smart home devices which can be used to automate tasks like turning off appliances when they are not in use, or setting the temperature of your home based on when you are typically away.

Automated Home Entertainment System

If you’re looking for a way to have an automated entertainment system in your home, there are a few things you’ll need to do. First, you’ll need to choose the right equipment. You’ll need a TV, a Blu-ray player, and a surround sound system. Next, you’ll need to set up the system. This includes connecting all of the equipment and making sure it’s all working properly. Finally, you’ll need to test the system to make sure everything is working as it should. Once you’ve done all of this, you’ll be able to enjoy your automated entertainment system!

Automated ‘Smart Home’ System

The overall goal of automation in your home is to create an overall ‘smart home’ environment to live in. To do this, you’ll want to consider the various smart devices available on the market and how they can work together to create a smooth, cohesive experience in your home.

You’ll also want to take into account things like your budget and any specific needs or wants you have in terms of automation features.

Once you have a good understanding of what’s available and what you need, you can begin creating your smart home setup.

One of the first decisions you’ll need to make is which smart devices to include in your setup. There are many different types of smart devices available, from lighting and security systems to appliances and entertainment systems as discussed above.

As you’re choosing which smart devices to include, keep in mind how they’ll work together and how they can complement each other to create a cohesive smart home experience.

For example, you might want to include a smart thermostat as part of your automated smart home setup. A smart thermostat can help you save energy and money by automatically adjusting the temperature in your home based on your daily routine.

You can also use a smart thermostat to control other devices in your home, like your lights and security system.

Another important consideration when creating an automated smart home is your budget. There are many affordable smart devices available, but some can be quite expensive.

Take the time to research different products and compare prices before making any final decisions. You should also consider whether you want to purchase a complete smart home system or build your own custom setup.

If you’re considering purchasing a smart home system, there are a few things to keep in mind. First, make sure the system is compatible with the smart devices you already have or plan to purchase.

You should also make sure the system offers the features and flexibility you need to create the smart home setup you want.

Once you’ve decided which smart devices to include in your automated smart home, it’s time to begin setting everything up. If you’re using a smart home system, the process will be fairly simple. Just follow the instructions that come with the system. If you’re creating your own custom setup, you’ll need to do a bit more research to figure out how to connect all of your smart devices. You might need to purchase additional equipment or software to get everything up and running smoothly.

Once everything is set up, it’s time to start enjoying your new automated smart home setup! You can use your smart devices to control every aspect of your home, from the temperature and lighting to entertainment and security.

With a little bit of planning and effort, you can create a smart home that perfectly suits your needs and lifestyle.

In Conclusion

By using these home automation hacks, you can make your life easier and save time and energy. So, what are you waiting for? Start automating your home today!

Robotic Process Automation (RPA) has become incredibly useful for accountants in recent years. The technology is allowing them to vastly improve efficiency and work output. The pandemic has only caused the uptake of automation in the accounting space to speed up significantly.

The Big 4 accounting firms are starting to increasingly rely upon automation, which is leading to significant improvements in the output for their clients. Big 4 staff have historically been over-worked during busy season, and automation is leading towards an increase in overall staff happiness, as they are able to eliminate some of the more mundane aspects of their roles.

“RPA is the here and now kind of technology that organizations are utilizing,” said Brian Cassidy, audit and assurance partner (Deloitte)

Despite the obvious benefits that automation can bring to an accounting team, there are also plenty of reservations and fears surrounding automation software. Ultimately, this stems from a misunderstanding of automation as a general tool. Some assume that automation will take over the majority of the accounting process. However, in reality the automation software will simply increase task accuracy and efficiency, while the professionals are still in place to perform the crucial tasks of analysis and data interpretation.

What is Accounting Automation?

Simply put, there is software out there which will allow accountants to automate certain aspects of their role. Predominantly the manual repetitive tasks which have reliable inputs and outputs. Think data gathering, reporting running, reconciliations etc. All of these mundane tasks can be completed by an automated process instead of completed manually. Often automation can not only reduce human error, but it can also complete tasks infinitely faster than a human can. When implemented correctly, automation can become an integral part of an accounting team’s arsenal of tools

Difficulties of Accounting without Automation

Accounting is a highly error sensitive area of business. One accidental typo or error can lead to significant costs and issues for a business or client. Therefore, any accountant values to potential to reduce human error. There are plenty of disadvantages of manual accounting which could potentially be resolved by the implementation of an automated process instead:

Potential for Errors

Naturally, anything which is completed by a human has at least a small risk of having errors. As the Rag n Bone man song goes: “I’m only human”. Whether it be through stress, distraction, or any other number of reasons. If you have never made a genuine error by mistake, then you’re lying.

Anything which can be implemented in order to reduce the risk of these errors should be appreciated greatly. Some common mistakes which can be mitigated in the accounting world are entering incorrect information, errors in transporting figures, record keeping errors.

The more manual a process is, inherently the higher the risk of human error. And let’s be honest, do you want to be the person who has to trawl through other people’s work in order to make sure it is correct. I’ve worked in audit….trust me….it isn’t fun! Therefore, the more confidence you can have that work is error free, the less checking that is needed. In fact, you can even potentially use automation in order to run checks for you instead.

Time Intensive Tasks

As the saying goes…time is money! The more time that is spent on a task, the less value that can be derived from it. Whether you are an employee within an accounts department, or running an accounting firm, this mantra still rings true. As an employee, you will relish having extra time to spend on the tasks that really matter within your role. Having a day of mundane repetitive tasks which you do not enjoy, but unfortunately need to do is a feeling which resonates with many employees worldwide. Unfortunately, when a business continues to focus on manual tasks, this will continue to happen. And guess what? The more mundane you find a task, the more likely your concentration will slip, and you will make a human error. Revert to the previous point on error reduction.

You should never look at a task and think of it as wasted time. Ultimately, if you are doing the process, then it should provide value. If it doesn’t then automation isn’t the answer. The answer is just removing that time wasting process. The point to be made here is that some tasks provide more value than others, and some require more human intervention than others. Therefore, if we can somehow transfer our working time onto those value creating, human required tasks, we’re onto a winner!

How Automation can Help Accounting Businesses and Accounts Departments

Time Saving

I’ve been harping on about time saving throughout this post. The reality is that one of the core benefits of automation is the potential saving of time. Firstly, automation works quicker than a human ever can. Therefore, a task which might take 25 minutes for a human, could take 25 seconds for a bot to complete. This means that processes are completed quicker, and the aspects that require human interaction can be started on a more timely basis.

In addition to the reduction in process timing, using the above example, an employee now has saved 25 minutes of their day, which can be spent on other tasks which require more attention. During my time in audit in the first few years of my accounting career, we were expected to work a minimum of 60 hours a week during busy season. I’m aware that many work far more than that year round (I’m looking at you Investment Bankers…) With the ability to implement more automation, there is potential for accountants to reduce the need for longer hours. Instead, focusing their time on providing extra value to the client.

There are many other key performance indicators of automation other than just time savings as well. It can be anything from cost savings, to error reduction, or efficiency of task completion. I have an article about measuring automation KPIs.

Comprehensive Analytics

Not only is automation good at streamlining tasks to be completed quicker, but it can also quickly provide a whole host of analytics. That can involve gathering data through APIs and then outputting that data into a report which is a mixture of internal and external data.

To give a real-life example: While working at a Hedge Fund, I was tasked with the rather mundane job of checking for updates to Share Denominators. For those not in the know, this is effectively the total number of shares held in a company in order to calculate your ownership in that company. For example 1,000,000 Shares Outstanding in a UK company you hold 1,000 shares of means you own 0.1% of that company. Now, why was this important? Well, there are disclosure thresholds, and if an Investor passes that threshold without disclosing, there can be potentially costly ramifications. These Share Denominators can change, and often do only a monthly basis (share buybacks etc). Previous to me taking on this role, the task was completed manually every two weeks. The risk here is that if a threshold is passed, you usually have around 2-4 days to make the disclosure. So, if a figure changed during that two week period, you’d be in a sticky situation.

Solution? Well, I created a script which would go through all the company websites checking for updates. This would then compare to the prior day’s figure and create a report based on any updates. Not only did this save a lot of time, as the task took around 20 minutes manually (1.5 minutes via the script), but it also greatly improved job satisfaction. Nobody wants to be that guy having to trawl through websites on a regular basis. On top of that, and arguably the biggest benefit is the reduce risk of figures being changed without us knowing.

Will Automation Ever Replace Chartered Accountants or CPAs?

Businesses will always need accountants, and automation will never get to the point where it can completely eliminate the need for human decision making. I do think automation will become more prevalent in the future, but only time will tell as to how clever it will become.

The reality of the situation is that the role of an accountant will be forced to modernise, but not be replaced over time. Accountants who refuse to take on knowledge and accept these new areas of technology may find themselves left behind by other accountants more accepting of it.

As automation becomes more relevant in the world of accounting, accountants will have significantly more time on their hands to work on more vital aspects of their jobs. Aspects which cannot be automated, such as strategy, consulting, advice, and value creation. Arguably, these are the most enjoyable aspects of your role as an accountant. If anything, automation will just make the role of an accountant far more enjoyable. Maybe we will shake the assumption that we’re all boring? Or maybe I’m being optimistic…

Overall, automation can increase the efficiency of Chartered Accountants and CPAs throughout the world, which will allow them to become far more valuable to their clients and companies.

With the growth in popularity of Robotic Process Automation (RPA), it can incredibly easy to rush into trying to automate absolutely everything. It is quite common initially for people to try and “over-automate”. Whatever the task at hand may be, people feel as though there should be an automated solution for it. However, that isn’t the reality. Some processes just aren’t suitable for automation. Also, some processes should be improved before they are automated. Automation isn’t a one-stop-shop solution, and it certainly isn’t a solution for an inefficient process.

Many companies are seeking improved efficiencies, process streamlining, and reduced errors through automation. The reality is that if you automate the wrong things, you will be fighting a losing battle. So, the question here is when is it not suitable to try and utilize RPA within the business? Let’s look at some potential scenarios:

The Process Shouldn’t Be Automated

Not all processes are suitable for automation. The standard rule of thumb is that anything which involves a lot of consistent manual input with repetition should be suitable as an RPA candidate. However, this is a general rule and isn’t a guaranteed result. Some processes just simply don’t suit being automated.

You should take a look at the process you are considering automating and ask yourself the following questions:

1. How stable is the process? Does it go through changes, or diversions in the process regularly?
2. How often does the process change?
3. Is the process well documented?

As a general rule of thumb, you may be setting yourself up for more pain than it is worth if you try to automate something which is highly unpredictable or unstable. In saying that, it isn’t impossible to automate these tasks. However, my recommendation would be to always try to improve those processes so that they do become more stable if possible before you attempt to automate them.

A process that changes constantly generally isn’t suitable for automation. We’re getting to the point where AI is becoming a reality, and once that arrives, we will be able to handle tasks with a little less predictability. However, for the time being, true AI is likely going to require a significant custom cost implication, and will likely outweigh the benefit of the automation.

The Benefit Does Not Outweigh the Effort

This is incredibly common when someone first gets introduced to automation. The attitude can lean towards trying to automate absolutely everything. As discussed above, some tasks just aren’t suitable for automation, and the cost of automating can outweigh the benefit gained. There are also instances where the process just isn’t worth automating due to its simplicity, or manual requirements. An automated process can sit side-by-side with manual inputs, but sometimes the entire process is better as a wholly manual task rather than partially automated.

Having an effective KPI setupset up in order to decipher whether your automated processes are valuable or not is essential. However, all automated processes should be assessed for their likely effectiveness before they even enter production.

It is always worth measuring the potential ROI on an RPA project before you deploy it. It can save you significant headaches later on down the line when you realize the manual process was better, and you need to unravel your process to become a manual task again.

The Process Requires Improvement Rather Than Automation

It is easy to look at automation as the savior of all inefficiencies within a company. But the harsh reality is that sometimes the process just isn’t very good. This can come from years of using old processes and stitching new additions to that old process. This ultimately creates a poor process with a mishmash of other sub-processes bolted onto it over time.

Simply put, the best outcome can sometimes just be taking that process to the drawing board, and figuring out how to improve it. Sometimes there are steps that you no longer need. Sometimes an aspect of the process could be improved to make the whole process more efficient.

However, once a process has been improved, then perhaps you could look at options for automation. As I have already mentioned, trying to automate a task that is poorly set up, inefficient, or requires improvement can end up costing you more than the benefit of the automated outcome.

The Process Isn’t Valuable

Sometimes you just need to take a hard look at what produces value in a company. So many times I have seen processes executed which are completed by someone purely because “that’s how they have always done it”. Once you strip back the fact the process has always been there, and really look at the effectiveness and value the process brings. Often you realize that the process isn’t even needed.

Ultimately, removing a process that isn’t providing value will provide more efficient benefits to staff than implementing an automated process in its place.

Conclusion

I think the main conclusion you can draw from this article is that understanding your processes is the key. Constantly looking at processes and wondering whether what you are doing is the best way to do it. Just trying to chuck automation at a problem won’t necessarily solve it, it will just make a bad process an automated bad process, to begin with, An efficient process to begin with will be far more suited to an RPA implementation project than an inefficient one.