How Automation played a key role in designing a business resilience strategy at Philips

Date June 02, 2020

Time 11:00 AM – 12:00 PM EST

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About the Webinar

COVID-19 is a pandemic that has affected business critical functions across enterprises in the world. From impacting the way we work and the way we provide service to our customers, it has forced us to rethink every business strategy. In these difficult times, enterprises have realized that it is critical to have a future proof business resilience strategy that can enable them to manage disruptive situations.

Watch this webinar recording to hear how Philips used Automation to build a business resilience strategy and ensure continuity for critical business operations amidst COVID-19.

 

Key Highlights

ASPIRATIONAL TARGET

  • Philips Hoshin Strategy
  • 1 Million Hours Savings in Finance Operations over 3 years

ROADBLOCKS

  • Complex Processes and Massive Scale
  • Error Prone Manual Tasks and Process Inefficiency
  • Multiple Handoffs and Ad-hoc intervention
  • COVID-19 Outbreak

SOLUTION APPROACH

  • Long Term Investment and partnership – EdgeVerve (AssistEdge) + Infosys BPM
  • Centralize location strategy with Infosys BPM
  • Achieve end-to-end Automation across Finance domain
  • Establish a strong governance with change and improvement program

ACHIEVEMENTS

  • ~€18M: Business Benefits over 5 years
  • 550+: AssistEdge RPA Bots
  • 640k+: Man-Hours Re-purposed
  • 320+: FTEs Saved
  • 73%: Processes Standardized
  • 400+: Business Entities Impacted
  • ~100%: Coverage for Activities
  • On-Time Quarter End Book Close

“This is one of the most complex finance transformation programs in the world. Collaborative efforts led by Philips Finance leadership, supported by Infosys BPM process and technology knowledge leveraging AssistEdge Platform delivered significant business benefits”

– Royal Philips