UiBot : Robots for Everyone!
In this technology driven world, employees often have manual work and encounter a lot of repeatable, tedious actions on their computers such as downloading documents, recording invoices and audits, and checking emails. It is not only easy to make simple mistakes while completing these tasks but also to feel bored and devalued. For example, customers transfer money to banks every day and financial employees need to keep track of these hundreds of thousands of accounts and transfers every day, which can make an employee like a machine.
Finance requires the most repeatable, tedious tasks because of audits, reconciliation, etc. so, as the leading financial experts in the world, the four renowned accounting firms (EY, Pricewater houseCoopers, Deloitte, KPMG) introduced the concept of "financial robots." These bots were first seen in China in 2017 as an attempt to create a software robot. These robots were meant to automate these manual processes to allow workers to participate in more meaningful tasks such as direct customer service or research and development. This idea gained popularity in the United States as well. In the US, the manufacturing of various software robots emerged as a new industry called Robot Process Automation, or RPA for short. 2 Process automation has been around longer than 2017. Microsoft Office brought its own "macro" feature more than two decades ago to automate office operations. However, RPA brings a new element to early process automation. RPA can create a "software robot" which simulates a human’s simple operations so that the robot automatically completes the process alongside or separately from the employee. This "non-intrusive" aspect is one of the core benefits of RPA.
These simple and repetitive tasks are found in more fields than just finance. They appear in logistics, sales, human resources, and many other areas and industries and have value in any place that can save workers time from tedious, step-by-step tasks.
It's not an exaggeration to say that RPA has become popular. In the United States alone, there have been several multibillion-dollar unicorn companies that specialize in providing RPA products and services to other industries. Their products do a good job and can meet most of the standards of RPA, but they do not provide the same quality and complete solution as Laiye’s UiBot. Let’s see why.
In order to create a software robot and implement RPA into an enterprise, you need to execute the following steps:
1. The existing workflow first needs to be analyzed to see where RPA can have the most utility and ROI.
2. Then a software robot needs to be implemented so that it can read and operate all the software involved in the process.
3. Lastly, the software robot needs to be deployed in the actual working environment among all workers, including those without a technical background.
The first step is usually done by business experts within the finance team because they need to sort out and analyze financial workflows. The second step is usually done by IT experts because it’s easy for them to implement a robot that simulates human work in a programming language such as Python. The third step is usually done by ordinary staff, or those without a concrete, technical background. However, those 3 steps at most companies aren’t perfect which is a problem because the only way RPA can be successfully applied to a company is if every step is perfect.
The first step is usually easy for finance experts to sort out and analyze the process, so there isn’t a problem. The second step, however, is where the problem begins. IT experts are often immersed in the digital world and they do not understand the accounting vocabulary and processes of the financial experts which leads to confusion and mistakes during implementation. 4 There are also major issues in the third step as well because the ordinary staff does not understand the IT team’s technical jargon and programming. They will try to call IT for support, but if the support is not timely, it’ll delay the work.
So how does UiBot create more value than other RPA companies?
Laiye’s philosophy is:
• To create a semi-finished product with common functions that is easy to use and requires little human effort to create a fully functioning finished product catered to a specific task or job.
• Lastly, to let the ordinary staff understand the general principles of the robot and how it can be modified in a very simple, non-technical way.
From now on, RPA production no longer requires the involvement of IT experts, so the problem within the second and third step is solved due to UiBot’s innovative, easy-to-use solution. The RPA platform decomposes the software robot into many parts so that the finance experts who do not understand IT can build it, without the involvement of IT personnel. By doing this, the bots will successfully replicate the exact steps of the finance and accounting (F&A) teams at major enterprises and would only require the average employee to do very minimal work to run the program.
Therefore, the key indicators of the RPA platform are:
• To be accurate and powerful with enough parts to simulate many processes.
• To be simple enough, without the involvement of IT experts, that ordinary people can easily understand and master.
Various RPA companies have made efforts to achieve these goals, but the results still aren’t efficient and effective. This is largely due to the contradiction between the different steps and goals. If you want the bot to solve and replicate many different simple processes then it’s difficult for the technology to be simple. For example, some RPA platforms can solve a wide-variety of tasks and problems but it requires everyone to the programming language Python which isn’t easy for the average worker.
UiBot, unlike its competitors, has made a lot of efforts to balance the threekey metrics of the RPA platform. Some efforts you can see from the software interface. UiBot designers have spent half a year doing in-depth research and discussion to finally come up with a complete solution. We are very confident that UiBot is in a leading position within the 6 domestic RPA platform market because the product has been carefully polished over the years. Of course, effort alone is not enough. Expertise and experience are required as well, and Laiye has this. The core team from Awesome Technology Co. Ltd. has been working endlessly from 2001 onwards in the process automation market. It has been almost two decades since they started and they’ve accumulated rich experience with critical advances in design and research to have an edge over its RPA competitors.