Finding the right opportunity
Irish Life, leaders in investment services and life assurance products, realised an opportunity for automation within Financial Planning and Compliance team. The ‘Compliance Checking’ process comprised mainly of the copying and pasting of information from one system to another at the same time as comparing data between applications.
Employees had to handle multiple scenarios with rules-based exceptions and so were often prone to human error. It was a perfect use case for Robotic Process Automation or RPA.
Establishing their RPA foundations
Lean Consulting developed standards, guidelines and foundation to create Irish Life’s Centre of Excellence for RPA. Establishing principles, we analysed technical specification processes systematically developing components alongside a custom-made robotic enterprise framework.
Developers rigorously tested and regression tested whilst assisting Irish Life with automation enhancements. Development specification documents and process documents where created to help Irish Life’s Development and Support team manage and control new releases for when alerting and updating.
Developing the RPA processes
Lean Consulting worked alongside Irish life and Implement Consulting over the period of 3 months to improve the original process and design a bespoke automation to replace the manual repetitive process that preceded.
The compliance checking procedure is carried out daily. The quality checking process needs to accept, query and action adviser cases created on their CRM. The Automation Anywhere platform was used to cut the average case handling time from 15 mins to under 3 mins per case. The platform provided automated, digital workers emulating tasks performed by financial compliance team.
Delivering tangible benefits
The automated solution resulted in the reallocation of highly skilled employees time into more value adding activities. The now automated process increased output by 325%, with significant improvements and consistencies with adviser account management.