According to a recent study by HfS Research and KPMG LLP, 55 percent of North American enterprises are looking at new opportunities available with Robotic Process Automation (RPA) systems. Gartner predicts that by 2020, smart machines will be a top five investment priority for more than 30 percent of CIOs. So, regardless of which camp you find yourself in, the reality is that RPA is here now and will play a significant role in the finance function of the future. Companies will have bots as part of their digital workforce deployed throughout the organization. It’s important to note however, while RPA technology can speed up organizational processes, the bots cannot fix broken processes; at least not yet. Therefore, RPA is not the final destination but a technological step on a broader automation journey.
When Johnson & Johnson (J&J) hosted CFIT for their recent June meeting, Hugh Sheridan, VP, Business Technology Leader, Financial Services for J&J walked the group through several of the steps they have taken so far on their automation journey. According to Sheridan, “Process Automation is a strategic enabler for J&J and Global Services that is critical to achieving the long-term goals of improving the customer experience while reducing the costs of shared services.”
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