Honeywell is an American publicly traded, multinational conglomerate headquartered in Charlotte, North Carolina. By the way, it’s a Fortune 100 company, which has a global workforce of approximately 110,000 workers, with approximately 44,000 employed in the United States. Here is the digest of how Honeywell automated its financial processes through RPA.
The RPA journey in Honeywell started by developing a proof of concept and putting together a pilot program in 2016. The in-house team boiled down a very long list of potential opportunities for automation to just eight processes for the pilot.
As the initial eight processes were implemented, the team moved on in 2017 to build the Centers of Excellence and establish them for each function that was using RPA. For the past two years, their work has focused on how to scale the use of RPA throughout the organization while maintaining the quality of all implementations and managing the road map for development. For Honeywell, the key was developing a structure, governance, and ways to measure success. In finance alone, Honeywell has deployed 85 bots across 350 processes. And it has more than 200 processes in the pipeline.
Honeywell processes approximately 50,000 of these invoices per month. Before RPA, the team determined that a human worker would go through 10 steps to manage these invoices, which took approximately 11 minutes. After the bot took over, that time reduced to only three minutes. That resulted in 8,750 hours saved per month, which was a 43 percent productivity improvement.
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