Embed Size (px)
Citation preview
©2016 by Crain Communications Inc. All rights reserved.
WED | 4:30 PM | MESA
Interviewed by: § Bryan Peña, SVP, Contingent Workforce Strategies, Staffing Industry Analysts, CCWP
Probing the Human Cloud Interview
Max Yankelevich, CEO, WorkFusion
Sponsored by:
©2016 by Crain Communications Inc. All rights reserved.
Probing the Human Cloud: WorkFusion
Speaker:Max Yankelevich, CEO and Chief Architect, WorkFusion
Moderated by:Bryan Pena, CCWPSVP, Contingent Workforce Strategies, Staffing Industry Analysts
©2016 by Crain Communications Inc. All rights reserved.
Future of Workforce Management• Employees
– Full time or part time – Apprentices, trainees, and paid interns
• Non-‐Employees– Temporary workers– Independent contractors or consultants/freelancers– Online workers (e.g. micro tasks, crowdsourced, etc.)– Professional services (e.g. management consultants, lawyers)– Outsourced services (e.g. security guards, maintenance)– Partners (e.g. supply chain, partnerships, joint ventures) – Formal and informal volunteers (e.g. self-‐service customers)– Franchisees/affiliates/associates (e.g. marketing, sales activities, etc.)– Robots/drones/cognitive computing applications
©2016 by Crain Communications Inc. All rights reserved.
Before you freak out!
©2016 by Crain Communications Inc. All rights reserved.
©2016 by Crain Communications Inc. All rights reserved.
It’s not :
or
©2016 by Crain Communications Inc. All rights reserved.
More Like:Definitely Blue
Definitely Green
?
Confidential
Smart Process AutomationOperations transformation through robotics,
workforce orchestration, and cognitive automation.
February 2016
Confidential 9
Confidential
I. A helicopter viewof automation.
10
Confidential 11
What’s the difference between Robotics and Cognitive Automation?
Hand Work.Robotics
Example: operating the user interface of desktop applications
Head work.Cognitive
Automation
Example: categorizing and
extracting unstructured data from websites,
documents, news feeds, etc.
Confidential
This is WorkFusion’s view of customer adoption: the automation stairway to heaven.
HUMANS
Orchestration
SCRIPTING
MOW Descriptions
Most enterprises are here.
RPA
Change & Exceptions
Management
COGNITIVE
SQC &Machine Learning
Each AUTOMATION STEP of the stairway comes with operational impacts and requirements
Confidential
II. What problems does WorkFusion solve?
13
Confidential
High-volume manual processes
with variable, unstructured data
performed by valuable FTEs
and fragile point tools.
6
Problem:
Confidential
Back Office Client Driven EventseInvoice (P2P) KYC – Legal Entity, People Search, Monitoring
Data Entry /Compliance Standard Settlement Instructions (SSI)Marketing Research Tax – K1 forms/foot notes processing
Travel & Expense Management (T&E)Data Entry / Compliance Consumer Personal Assistant
Lockbox processing BookingsTravel Research
Commerce ReservationsCategory Management PurchasesPlanogram Compliance Customer SupportSearch Relevancy Optimization Scheduling AppointmentsCollectionsMaster Data Management Entities & Instruments
Company Legal & Financial InformationCorporate Actions Business ClassificationM&A Transactions Announcements ETF/Bonds/Term Sheets/Prospectus AttributesCorporate News Extraction Filings ExtractionRealtime Dividend/ETF/Bond/Shares Outstanding/etc. Announcements
Hierarchies / TaxonomiesLegal Entity MonitoringCompany Products and ServicesLoan Data Extraction 7
“85% of a typical firm’s 900+ processes can be automated.”
Confidential
Cost ofgoing from 50% to
90%?
But true automation costs a fortune and takes an eternity.
8
%AUTOMATED
COST TO AUTOMATE
0% 50% 60% 70% 80% 90% STP
Easy to automate
Hurdles:# of exceptions
Human quality limits (92%)Decreasing marginal volume
Confidential
Automation at the edges
Humans at the core
Point toolsFeeds
Rules BPM
Most “automated” processes have humans at the core.
10
Confidential
III.What is WorkFusion’s Solution?
18
Confidential
Labor at the edges
WorkFusion automates at the core to deliver true STP.
19
Automation at the core
Confidential
WorkFusion combines process improvement with RPA and machine learning to surpass the limits of current automation.
20
Have machines do most of the workGetting the right work to the right personChange process in software vs in people
Human Machine
50% efficiency gains
Smart Process Automation
+
+
Process Improvement
1. Break down the process 2. Qualify workers3. Orchestrate the work
Machine Learning
4. Take high quality data5. Train the models6. Deploy machine workers
Confidential
Customers use WorkFusion for hard-to-automate work done by large operations teams.
21
Com
plex
ityof
pro
cess
Volume of workLow High
Hig
hLo
w WE CAN DO THIS IF YOU HAVE NOT
ALREADY DONE IT
OUR SWEET SPOTTHIS IS WHAT YOUR EXPERTS DO
Confidential
Sample functional areas for WorkFusion addresses:
22
CustomerExperience
Human Resources
Finance & Accounting
Marketing Resources Supply Chain
Account Services Payroll Accounts
PayableContent
SourcingProduct Catalog
Management
Contracts & Entitlements Human Capital Order
ManagementPromotions
Management EDI
Billing Recruiting Invoicing ContentModeration
Inventory and Logistics
Management
Customer Experience
QualityTalent
Management CollectionsCompetitive Intelligence
Fixed Asset Accounting
Marketing Compliance
Confidential
SSI: quality increased while reducing headcount in client onboarding and account services
Problem§ 75-person offshore team § 1,000 inbound formats§ 1MM+ transactions per year§ 98.5% accuracy§ High trade repair and penalty costs§ SLA compliance costs
Solution§ WorkFusion mimicked process§ Replaced OCR solution§ Machine learning automation§ Statistical quality control on exceptions§ Robotics desktop integration
Impact after 8 weeksü 85% automation ü 100% qualityü 15min to 30s processing timeü 80% headcount reduction
CASE STUDY
Note: Account numbers redacted
Confidential
CASE STUDYAutomated Fax Conversion, Extraction, and Categorization with OCR, Rules, and Machine Learning
Situation§ Global Information Services firm receives 7MM faxes annually on behalf of clients
§ Peak times are at month-end and quarter-end where an external vendor ramps-up to 120+ resources in India
§ 30 minute SLA with clientsApproach§ WorkFusion’s OCR process converts document images to readable text
§ User-defined rules and Machine Learning extract data for automated categorization
§ Algorithms refined and fine-tuned over time
§ Exceptions identified for distribution to human workforce
Impact
70%REDUCTION IN VEDOR’S HUMANWORKFORCE
IMPROVED ACCURACY ABOVE
99%
IMPROVED SLA ABOVE
99.5%
CASE STUDY
Confidential
3x coverage, 50% throughput, 72% headcount reduction in KYC process for global information provider
Situation§ Unstructured high-volume Annual Reports § ~3,500 PDFs per annum per language § Required SMEs with special language skills
Solution§ WorkFusion enabled global reach to cloud workers
with qualified language skills§ Cloud workers extract and validate data§ Client’s internal SMEs in the loop to moderate
crowd results § Data sanity checks embedded within UI§ Automated exceptions management
Impact in 4 monthsü Throughput increase by 50%ü Expansion to 3x number of languagesü 72% FTE reduction
CASE STUDY
Note: Publicly available annual report
©2016 by Crain Communications Inc. All rights reserved.
©2016 by Crain Communications Inc. All rights reserved.
©2016 by Crain Communications Inc. All rights reserved.
Introducing Staffing Industry Analysts &Executive Forum
Two Easy Ways to Give Feedback§ Rate sessions on the Mobile Community (all sessions)§ Fill out Evaluation Card on your chair (concurrent sessions)
©2016 by Crain Communications Inc. All rights reserved.
Keynote
The Rise of the Machines: Artificial Intelligence & the Future of Work
Sponsored by:
Speaker:§ Neil Jacobstein, Faculty Co-‐Chair of the AI and Robotics Track at Singularity University, NASA Research Park and Distinguished Visiting Scholar, MediaX Program at Stanford University
WED | 3:00 PM | MCARTHUR BALLROOM
