Finance and treasury departments of large global companies are using robots to cut costs, liberate workers from time-consuming, repetitive tasks, and in many cases reduce employee numbers, according to this article.
Two-thirds of large global companies expect to automate some or most of their finance-department tasks over the next two to three years, new research by The Hackett Group Inc. found. The change is enabling employees in many companies to do more value-added and strategic tasks.
The message is clear: Robotic Process Management is the solution for the future, not manual resources.
However, the article also notes that before rushing to automate, we should look to see how steps in the process can be eliminated.
This concept goes way back to the 1970s when Davenport published an article entitled: Obliterate, not Automate.
RPA and automating processes will be big topics for discussion during OWS18 sessions and also in the Advanced COP workshop.
This article notes that the governance of cybersecurity, cross-border data flows, privacy, algorithms and law enforcement access to encrypted data all face potential changes in 2018.
“In particular, the EU’s development of its recently proposed Cybersecurity Act will have broad ramifications for industry and will be important to watch,” said Victoria Espinel, CEO of the software industry trade group BSA and previously U.S. Intellectual Property Enforcement Coordinator for the White House.
Cybersecurity is becoming a major headache for most companies and governments alike. As technology advances, the danger posed by cyber intrusion is only increasing. Protecting against cyberattacks – from benign (denial of service) to data hacking (for profit or ransom) is a major task. This becomes more complex in an outsourced environment.
As new regulations – especially in the European Union – take effect in the coming year, compliance and governance will be a major agenda for all companies that outsource. This also will be explored at the Advanced COP workshop at OWS18.