Department of Computer Science and Engineering

Seminar Report

on

Business Process Automation With Robotic Process

Automation (RPA)

Submitted in partial fulfillment of the requirements for the award of the degree of

Bachelor of Engineering
in
Computer Science & Engineering

By

Rithvik S Shetty 1MS18CS100

Under the guidance of

Ganeshayya Shidaganti,
Assistant Professor, Department Of Computer Science,
Ramaiah Institute Of Technology.

M S RAMAIAH INSTITUTE OF TECHNOLOGY

(Autonomous Institute, Affiliated to VTU)
BANGALORE-560054
www.msrit.edu
2021- 2022
 Department of Computer Science and Engineering

Ramaiah Institute of Technology

(Autonomous Institute, Affiliated to VTU)

Bangalore – 54

CERTIFICATE

This is to certify that the Seminar entitled “Business Process

Automation With Robotic Process Automation (RPA)” is a bonafide
record of the Seminar work done by Rithvik S Shetty (1MS18CS100)
under my supervision and guidance, in partial fulfillment of the
requirements for the B.E in Computer Science & Engineering, M S
Ramaiah Institute of Technology, Bangalore for the academic year
2021-2022.

Ganeshayya Shidaganti, Dr. Annapurna P. Patil,

Assistant Professor Professor & Head

Examiners:
1. Ganeshayya Shidaganti, Assistant Professor
2. Sangeetha J, Associate Professor

2
 Acknowledgement
The satisfaction and euphoria that accompany the successful completion of any task
would be incomplete without mention of the people who made it possible and support
had been a constant source of encouragement which crowned my efforts with success. I
am deeply indebted and would like to express my sincere thanks to our beloved principal
Dr. N.V.R Naidu, for providing us an opportunity to do this technical seminar. My
special gratitude to Dr. Annapurna P. Patil, HOD, Department of Computer science and
engineering, RIT for her guidance, constant encouragement and wholehearted support.
My sincere thanks to my guide Ganeshayya Shidaganti, Assistant Professor,
Department of Computer Science and Engineering RIT for his/her guidance, constant
encouragement and wholehearted support. Finally, I would like to express my sincere
thanks to all the staff members of the department of computer science and engineering for
their valuable guidance and support.

Rithvik S Shetty
1MS18CS100

3
 Abstract

Robotic Process Automation, commonly referred to as RPA is one of the budding

technologies in the present day. Its advent into the field of Financial Technology has
revolutionized “Business Process Automation”. From back-office operations to UI
processes, everything can be automated with the help of RPA and with this the Human
Resources can be utilized for more value added services and helps to reduce the effective
cost of operation.

The use of robotic process automation (RPA) has many advantages over the
traditional workflow in the fintech industry. Since the advancements in automation and
digital technologies, it has become preemptive for financial institutions to change the
dynamics and inculcate automation in their regulatory requirements. Here, we discuss
case studies of implementation of RPA in several banks to understand its impact and
results.

From our case studies we found that many banking companies have adopted RPA
to improve the efficiency and to make better use of human resources. If we follow the
automation trend, it suggests that intelligent automation technologies like Robotic
Process Automation (RPA) and AI can reduce costs in Fintech by up to 25%. The future
looks really bright for RPA in the field of Business Process Automation.

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 Table Of Contents

1. Introduction 6
2. Literature Review 8
3. Summary of Review 12
3.1. Case Study of KAS Bank 12
3.1.1. Challenges Faced By KAS 14
3.2. Distribution Of RPA Technology in Financial World 14
3.3. Applications of RPA in Business Process Automation 15
3.4. Market Analysis of RPA 16
4. Conclusion 19
5. References 20

List of Figures and Tables

1. Characterization of RPA 8
2. Workflow model of Cognitive RPA solutions 10
3. AMS Model Designed by WorkFusion 10
4. Criteria used by KAS to be chosen for automation 13
5. One of the example workflows that was automated by KAS 13
6. Distribution of RPA in various segments of the Business Industry 15
7. Table of comparison for BluePrism, Automation Anywhere, UiPath 17
8. Stock Market Trends of PegaSystems 18
9. Stock Market Trends of BluePrism 18

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 1. Introduction

Robotic Process Automation, also known as “RPA” is a software solution that makes
development, deployment and managing of other software tasks autonomous. Here,
autonomous refers to the process of emulating human-performed tasks with the help of
automated robots. It could be a mundane task like Database updation or as complex as
testing a new software.

Robotic Process Automation (RPA) emerges as a software based solution to automate

rules-based business processes [1] that involve routine tasks, structured data and
deterministic outcomes. In the current business scenario, a lot of human resources are
wasted on simple tasks like ERP, CRM where they work on repetitive tasks transferring
files and resources from one system to another.

RPA is a tool that could be used to automate such iterative tasks on rule-based business
processes. It is one of the budding technologies that will take the world by the storm as it
develops. Many Financial Institutions [2-4] have already adopted RPA into their Business
Processes and many authors have also published its use cases in many other fields. Not
just any process can be automated [5].

Multiple authors have proposed a solution to choose the criteria for selecting a process
for automation. One of the general characteristics of all these processes is
“repetitiveness”, so as to utilize people for better value added tasks. It is found that RPA
is much suitable for automating tasks that mostly run on the backend like Database
Operations, HR Management and Finance. The Following section has an extensive
literature survey of birth and transformation of various RPA use cases.

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Millions of companies in the world today are processing endless documents in various
formats. Although Robotic Process Automation (RPA) thrives in almost every industry
and is growing fast, it works well only with structured data sources. What about the data
that’s not fully structured and comes in varying layouts? To address this problem, there is
another aspect of RPA that is taking the industry by storm: cognitive automation. While
implementing RPA, you can deploy automations with “cognitive” capabilities.

Cognitive automation uses Artificial Intelligence (AI) to learn and understand the same
way the human brain works. Thus, it assists humans in making decisions, completing
tasks, or meeting goals. Using cognitive automation, you can extract sem or unstructured
data which is 80% of all data! Data is a precious asset. Businesses struggle to make sense
of large volumes of available data and to generate a tangible value from them. Manual
business processes barely contain any data that is available for capture. This is where
Robotic Process Automation (or RPA) Analytics comes in.

RPA bots don’t just automate business processes; they also digitize them. They take the
large volume of data and interpret it in near real-time to provide actionable information.
Recently, Automation Anywhere’s IQ Bot, which makes use of cognitive RPA and makes
use of AI for providing the analytics. It’s one of the latest advancements in the field of
RPA.

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 2. Literature Review

Literature Survey is an important task that has to be carried out to understand the current
progress in the field of research and understand its needs. In this study, I have added a
few papers that depict the evolution of RPA as technology and several use cases in
various fields.

In this paper Peter et al. explain about evolution of RPA into one of the most popular
technologies in the corporate world [6]. The author talks about how 54% of European
companies had planned to automate at least 10 processes via RPA by 2020. Factors like
accomplishing non-value adding activities cost-efficiently and in a scalable manner as
well as reducing turnaround times are motivating companies to automate these processes
using software robots. They characterized RPA based on 4 major traits as shown in Fig.1
which is derived from IEEE Corporate Advisory Group [7], and they further dig deeper
in functional classification of robots.

Fig 1. Characterization of RPA

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In a study led by K. Juntunen [8] about the case study of intra-organisational adoption of
technological innovation and focuses specifically on the perceived influence of
innovation, organizational, individual and managerial facilitation factors on the adoption
process of Robotic process automation (RPA) technology. The author developed a model
to analyze the Stora Enso’s Finance delivery function utilizing semi-structured interviews
to contribute to better understanding about the adoption process of RPA. The findings
from the case study suggest that contextual factors related to innovation, organizational,
individual and managerial facilitation attributes are perceived to influence the adoption of
RPA. In relation to innovation attributes the key themes identified were RPA advantages,
risks and threats, ease of understanding and use, development effort and RPA-process fit.

In this paper Tran et al. explain about incorporation of RPA in a renowned Finnish Bank
Korkia [9], which has clientele spread all over Finland, Chile and UK. When trying to
enter Asian Market, they tried to implement RPA into their business as RPA is considered
extraordinary in Asia.In this research the author gives an overview of RPA in the
financial industry and an analysis of RPA vendors in the current market. In terms of RPA
vendors, the research indicates how each vendor governs the market and emphasizes
which vendor might correspond to Korkia’s needs. Here, the author states that Korkia
used the all-time famous SDLC “The Waterfall Method” to develop an RPA based
solution to its client, a Vietnamese Bank. The author stresses on the Architecture
Framework designed by Korkia, as it can be universally provided to other clients of
Korkia.

In this paper, Villar et al. present a case study on Deutsche Bank’s successful
implementation of intelligent automation [10] and also discuss the ethical responsibilities
and challenges related to automation and employment. Here, they demonstrate how
Deutsche Bank successfully automated Adverse Media Screening (AMS), accelerating
compliance, increasing adverse media search coverage and drastically reducing false
positives. Deutsche Bank combined AI and RPA with the support of Blue Prism and
WorkFusion. They explain how Deutsche was able to implement a Cognitive RPA

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System (See Fig. 2) for automation of Digital Services. Among others, AMS was one of
the processes that was automated with the help of WorkFusion (See Fig. 3) which had
three main phases: Information gathering from core systems, Risk analysis and
Prioritization and case management. This paper provided an overview of the
transformative value of intelligent automation at Deutsche Bank.

Fig 2. Workflow model of Cognitive RPA solutions

Fig 3. AMS Model Designed by WorkFusion

In this paper, Januszewski et al. [11] present the concept of a novel research carried out in
Polish accounting firms providing accounting services to micro and small enterprises.
The accounting firms consist of around 36,000 active entities providing services to as

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many as about 2 million entrepreneurs. The principal objective of this is to determine the
extent of robotic process automation in Polish accounting firms, as well as to identify the
benefits of and obstacles to its implementation. The research was structured into 6 tasks,
while the methods to be applied include a literature review, interviews with the owners
and accountants working in accounting firms, survey methods/pen-and-paper personal
interview and computer-assisted web interview, as well as raw data collection and
statistical analysis. They have also presented the results of preliminary study done in two
of the accounting firms.

In this paper, Ortiz et al. [12] aim to assess the gain in efficiency when a process is
automated by a software robot, the so-called Robotic Process Automation (RPA). As
globalization increases its scope, by providing better and more effective resources,
mainly in the technological field, traditional organizations must seek more efficient
processes to overcome the intense competition. To accomplish such a task, a finance
process was developed here with the help of the software provider UiPath. Besides, a
bridge between the theoretical aspects of information systems and RPA was also shown.

In this paper, Romario et al. [13] present a case study on the role, applications and risks
of RPA in the field of BPM, more commonly known as “Business Process Management”.
They state that there is at least a problem with traditional Business Process Management
(BPM) systems, as they cannot suggest the best combination of tasks, people and timings,
which can increase the benefits of running them, while reducing the costs and risk
factors. Yet, it is an irrefutable fact that the current business environment is highly
dynamic. On the one hand, we need to be more efficient to execute what is operational
and obvious, releasing scarce resources for more critical areas. Then, dealing with
business process management and automation, a common claimed benefit is associated
with the improvement of performance. In addition to this and other potential benefits, we
also highlight some potential operational risks from the adoption of AI-based systems
like RPA. They point out the fact that immature or not well-trained models can eventually
decrease productivity and increase errors from unsupported or even wrong decisions.

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3. Summary of Review

3.1 Case Study of KAS Bank

Let’s have a look at one of the major banks of the Netherlands called KAS Bank, it was
one of the earliest banks(2016) to integrate Robotic Process Automation (RPA) into their
business processes. In as early as 2016, they organized multiple internal workshops and
invited senior management to co-create an RPA strategy in business and IT departments.
Initially they only focused on primary business processes like pensions, security,
institutional and professional investments.

Later, they used several criterias to filter out the processes that can be automated. Four
key criteria were used to assess processes best suited to the RPA programme (See Fig 6.).
These included :

● Transactional levels in process

● Routine-based process
● Levels of task repetitiveness
● Process complexity

The operations department used this selection method to assess multiple business
processes. A business case was developed according to those business processes
considered favorably disposed to automation in which various aspects were analyzed. In
2016, two business processes were automated within 6 weeks.

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 Fig 4. Criteria used by KAS to be chosen for automation

Fig 5. One of the example workflows that was automated by KAS

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3.1.1 Challenges Faced By KAS

The development team worked in collaboration with operations personnel, that is,
employees who had previously performed automated tasks. The team worked closely
with the operations personnel to capture workflows (See Fig. 3), steps in processing
transactions, and the nature and structure of input and output data. The outcome of this
study placed them in a tight spot with three challenges:

Challenge 1: understanding what bots can and cannot do.

Challenge 2: understanding the end-to-end business process.

Challenge 3: when the bot fails to complete a task.

Even when faced with several challenges, KAS continued pursuing the use of RPA for
their customer success. In short, they laid the foundation for the advent of automation
into the Finance Industry. Even in 2019, when they were acquired by another firm known
as Caceis, another of the top-10 asset firms in the Netherlands, the Caceis have continued
to use the automation systems already in place and are continuing its legacy.

3.2 Distribution Of RPA Technology in Financial World

RPA is the most popular technology in the current Corporate World, but it’s widely
distributed in terms of its applications. Deloitte and Efma conducted a survey [14] on the
distribution of RPA in the Banking Sector (See Fig. 4) and arrived at the results as shown.
In the present Business Scenario, its applications are classified into five major categories:

● Customer Service
● Risk Management
● Fraud Detection
● Financial Advisors
● Back office

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 Fig 6. Distribution of RPA in various segments of the Business Industry

3.3 Applications of RPA in Business Process Automation

Now, let’s look at some more relevant applications of RPA in Business Process
Automation.

● Accounts Payable (AP) : RPA/AI technology can streamline and automate AP

processes, providing better visibility and control over data. It converts the entire
manual process into a digital workflow, giving notifications to allow the
resolution of any error that occurs.
● Customer service : The information provided by the combination of RPA and AI
can be used to gain insight into customers’ values and necessities, upcoming
market trends, and internal business. This allows banks to respond faster and offer
more targeted and personalized services at scale.
● Compliance and Report Generation : RPA with AI tools, such as natural
language generation capabilities, can automatically extract information from a
wide variety of documents and generate periodic reports.Software robots prepare
automated reports to ensure data is accurately updated in real-time, minimizing
the possibility of errors.
● Know Your Customer (KYC) and Anti-Money Laundering (AML) : KYC is
the mandatory verification that clients are who they claim to be and the

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 procedures are part of a bank’s AML policy. Due to the expensive manual process
required, banks have started using RPA/AI to collect, screen, and validate
customer data, thereby facilitating comprehensive compliance and minimizing
risks relating to money laundering, fnancing terrorism, and other fnancial crimes.
● Credit card processing : Manual credit card processing has proven to be
inefficient, prone to errors and fraud. Credit card fraud has become one of the
most prevalent forms of cybercrime in recent years, exacerbated by the strong
growth in online and mobile payments [15-16].

There are several other applications such as : Mortgage and Lending, Account
opening/closing and data and real-time advanced analytics [17], which can be
accomplished using RPA.

3.4 Market Analysis of RPA

Market Analysis is necessary for any project, wherein it helps us analyze the current
situation and the future state that we might want to reach, along with the tasks that we
need to complete to close this gap. It gives us an idea of the current Technology trend and
insight about the competitors in our field.

For any RPA project, choosing an external RPA vendor is really important and thus let’s
see a comparison of three biggest companies that currently hold the reins over the RPA
industry. Here, I have done a feature-based analysis for the top three leaders of the
current RPA industry.

Below is a table that perfectly captures the current scenario in the RPA industry and their
impact on it.

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Attributes BluePrism Automation UiPath
Anywhere

Access This tool has only This RPA tool has This tool has
application-based only application both browser
access. based entrance. and mobile
access.

Reliability Reliability High reliability is It includes a

It includes very high one of the most moderate
reliability. important features amount of
of this tool. reliability.

Pricing This RPA tool has a This RPA tool has a This RPA tool
high cost of higher cost of has effective,
acquisition. It deployment. entry-level
provides restricted pricing.
training.

Coding/Programming It allows the user to Programming Programming

write codes. knowledge is not knowledge is
However, users can mandatory. not mandatory.
also use it without
any knowledge of
programming or
coding.

Operational This RPA tool is This RPA tool This RPA tool
Scalability good for operational provides limited frequently fails
scalability. The deployment in a or crashes in
execution speed is large scale robot medium
very high. deployment. projects.

Architecture It has client-server It has client-server It is a

architecture. architecture. web-based
(Cloud Based)
orchestrator
tool.

Use It is used for It is used to achieve It is used for

Desktop, Web and fair efficiency BPO
Citrix automation. across all mediums. automation. It
shines in Citrix
automation.

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 Fig 7. Stock Market Trends of PegaSystems

Fig 8. Stock Market Trends of BluePrism

Here, we also compare the Stock Trends of some of the RPA giants in the past 5 years as
we can see it clearly shows that RPA tech companies have been on the rise and this
indicates the effect RPA has on the current Business Scenario. We can’t compare UiPath
and Automation Anywhere with the Stock Trends because, UiPath was listed just 6
months ago while Automation Anywhere isn’t even listed.

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 4. Conclusion

In this report, we tried to understand the phases of evolution of RPA as an application in

the current corporate field. Although RPA is one of the newer technologies, it’s
overtaking the automation world at a rapid pace and this is evident with all the tools like
PowerBI, UiPath, Automation Anywhere etc. We tried to develop an idea of the usability
of RPA in various use cases like Stora Enso’s Financial Delivery, Korkia Banks and
Deutsche Bank to name a few. Tried to understand certain advantages of RPA
implementation over the use of Human Resources repetitive tasks like Customer Relation
Management, Enterprise Relation Management, etc. Based on the research done, we can
see that many of the corporates are migrating to RPA for automation of several Business
Processes if not all. Soon, all of the Financial Institutions would be utilizing RPA as it’s
just more efficient, secure and cost-effective when compared to current systems in place.
To remain in the competition, the legacy companies will be forced to switch; just like
how Android replaced Microsoft Lumia as the global leader of mobile OS. In terms of
results RPA is way ahead of all other alternatives as we can utilize the Human Resource
for better value added services.

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