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

Date: Jun 2, 2020
Time: 9 AM to 9 PM Asia/Kolkata
LOCATION: Webinar

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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.

Watch the Webinar Recording

Download Presentation

 

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

Speakers

Arvind Subramanian

Head of Accounting Operations, Philips

Dr Lakshmanan Ramanathan

Senior Delivery Manager, BPM Technology Solutions Group, Infosys

Shrikant Deo

Associate Director and Lead – Product Management, EdgeVerve