We had an exciting collaboration with PT VADS Indonesia to conduct an inclusive sharing session for Banking and Financial Services industry (BFSI). The conference itself comprised of sharing sessions by notable figures in BFSI and technology solution providers on various topics.
Taking place at JS Luwansa Hotel, Jakarta – Indonesia 6 November 2022, we had the opportunity to introduce how Gleematic can transform operations in BFSI.
About PT VADS Indonesia
PT VADS Indonesia is a subsidiary company of TM ONE, the enterprise and public sector business solutions arm of Telekom Malaysia Berhad Group. VADS Indonesia is the customer’s chosen partner in digital customer experience management. They put process, technology, and people altogether to reach customer’s goal. Their vision is to deliver total solution to customers and sharing mutual benefits to their partners. Their ultimate mission is to delivering service excellence in a standardized, effective, efficient, and courteous manner that brings satisfaction to their clients, customers, partners, and employees.
Collaborating with VADS Indonesia to Introduce Cognitive Automation
As a technology innovator providing solution to improve quality of the business operations, we supported VADS Indonesia’s vision, which is to “delivering total solution to customers”. We realized that there would be a need to introduce the capabilities of cognitive automation to BFSI professionals. How they can benefit from cognitive automation for their BFSI operations is an ultimate objective we would love to make echoing.
About the conference
The theme of the conference was “Maximizing the Role of Automation for an Improved, More Effective and Efficient Customer Experience (CX)”. The objective was to inviting notable speakers with their respective expertise at government BFSI regulations and tech-solution, and practitioners in the field of cognitive automation technology. The expected audience was professionals in BFSI, that could be looking for a solution to improve their operations.
The conference started with the greetings from VADS Indonesia’s CEO, Saravanan Belusami. The first sharing session was by Deddy Hermansyah, Chief of Marketing (CMO) of VADS Indonesia. The event continued to present Ruly Widyanto, Multiguna Division Head of PT Mandiri Tunas Finance. Coming online was Nufransa Wira Sakti, Assistant Minister for Tax Supervisory at Ministry of Finance Republic of Indonesia. Next speaker was Vitri Ani, Head of Operations of Nanovest. She introduced Nanovest as a trustworthy investment platform, also how their team strives to make investment easy with their product. Separated by a coffee break, the event continued its sharing session with Raman MK, Head International Marketing of Exotel – who was also our collaborating partner for this event.
Finally, our co-founder and CEO – Christopher Lim – accepted the honor to wrap the conference by sharing about cognitive automation and how it could give impacts on BFSI industry.
Introducing Cognitive Automation as a Key to Digital Transformation
The need of digital transformation
Christopher Lim talked about the importance of digital transformation. Looking at the perspective of post-pandemic, what did it teach us? Our take is that pandemic taught us to leverage on technology to keep our productivity and business efficiency stable, despite the dynamic business environment. Relying on technology proves to keep more stability for our business.
Companies are shaken by the sudden changes brought upon the pandemic. This makes them to be more open to the possibility of digital transformation. This openness explains why they are looking at digital transformation as a powerful option. Not just to improve productivity and business efficiency – but also to keep it more stable and easier to control.
Understanding digital transformation
Digital transformation involves the process of using technologies to transform conventional business practices, unlocking the potential of becoming smart enterprise. Through AI-technologies embedded in our automation software, we aim to improve productivity and efficiency of many companies as possible:
- creating a smarter working environment for their employees by automating their manual and repetitive tasks
- Inventing smart method for smarter business decision through data analytics
- allowing enterprises to focus on strategic tasks instead of manual recurring tasks that are too consuming.
Automation as a gate to digital transformation
Digital transformation helps to improve business operations through digitized data. This is achieved by leveraging smart technologies to transform and understand the data better. Some examples of the disruptive technology:
- Machine Learning (ML) and Artificial Intelligence (AI) enables machine to mimic human behaviour as it improves by learning to process complex data and information.
- Automation allows companies to significantly automate labour-intensive tasks. This can improve work productivity, prevent human-error, and save business costs.
The main objective of this digital transformation is for the companies to survive. In this highly competitive market, companies are racing to implement technologies in order to remain competitive. There are many options to start this digitalization, however automation is one of the most effective ways to implement it. With automation, companies will learn that they are on the right track of digital transformation journey. And, soon they will adjust their competitive values.
Read about digital transformation and its top 10 benefits will empower your enterprise
Transforming BFSI operations with cognitive automation
According to 2014 survey done by PMG IT, 98% of IT professionals view the automation of business processes as vital to driving business benefits in today’s corporate environment. Based on research done by McKinsey, about 60% of all occupations have at least 30% of activities that could be automated.
Study by PwC shows that financial services realize that 15% from overall cost reduction on process comes by eliminating manual steps and rework. For banking, they can have KYC/AML and loan approval processing to automate.
Read about the how much time are you wasting on recurring tasks
Christopher Lim elaborated on possible areas in BFSI where they can potentially implement cognitive automation. We provided short videos of our BFSI use-cases as a “glance” for them to have a picture on how automation fundamentally works.
Starting Automation Projects
Christopher Lim expanded on steps to initiate automation projects within a company. He stated that it would be the best to carefully select process to automate by using the “process mapping” methodology. Also, he explained that some automation projects might fail. This is due to some determining parameters such as type of projects selected, vendor, process to automate, and more.
His session was quite thought-provoking as it triggered audiences to raise hands asking questions during a tight duration. They were eager to find out more about how the software could actually work and whether it was flexible to automate any tasks catered to their needs. Christopher Lim addressed the questions quite straightforward, by saying that our software is a “no-code” automation software that not just possible for any type of end-users even if they don’t have IT background, but also the flexibility of customizing automation scripts accordingly to how they need it.
Read more on how to build a successful automation strategy
Showcasing Cognitive Automation
We had mini booth to showcase Gleematic throughout the event, where during coffee break attendees could come to our booth to inquire more on Gleematic. Some of them were curious on how Gleematic could be able to “communicate” between different multiple systems and IT applications. Most of them shared that they spent too much time to organizing and processing paper-documents, and even after digitalizing the data, they would still need to allocate time and energy to “process” the data.
We helped by hearing their stories of how painful tasks could be if they still rely on manual processes to complete them. Incorporating the idea of “automating” those tasks might be new to some of them, but it was more like a lightbulb in the head when they could finally understand the fundamental concept of automation.
This event is also featured in the following Media outlets:
Find out more to implement automation for banking and finance our our case-studies
Again, it has always been a pleasing experience for us to exhibit and showcase our cognitive bots throughout our journey. We thank VADS Indonesia as a supportive partner that helped us pave the way to spread the words about cognitive automation to enterprises in Indonesia, especially in BFSI industry.
Looking forward to more exciting events in 2023!
Written by: Kezia Nadira