qBotica Inc., a new generation Robotics Process Automation and Artificial Intelligence services company, aims to help customers adopt robotic process automation. While process automation already exists as a concept, it generally focuses primarily on large-scale companies with projects costing millions of dollar values. However, CEO Mahesh Vinayagam is interested in focusing in on smaller businesses, catering to the likes of realtors, smaller banks, legal professionals, or realty businesses.
Vinayagam touched on why he found it important to focus on smaller businesses, as they put in more work for less efficiency. The analysis of credit union efficiency scores on a quarterly basis is a prime example of what Vinayagam is trying to emphasize. He says that the latest scores for billion-dollar credit unions are operating at an efficiency rate of approximately 66 percent. Meanwhile, credit unions that are operating under 25 million dollars are actually operating at an efficiency rate of approximately 93 percent.
This means that they are spending about 93 cents per dollar in which they are earning, whereas larger Credit Unions are spending approximately 66 cents per dollar earned. The goal of qBotica is to help these smaller credit unions through aiding in automation of employee work so they can focus on their members and clients. Larger banks have the ability and opportunity to hire more employees, whereas smaller credit unions typically do not.
“There is a restriction for people to grow because they become stuck in their responsibilities. As a result, they are unable to do what humans are made to do, which is to be creative and create new processes,” says Vinayagam. “We are aiming to do that by using robotics process automation, which looks at what people are doing and records or reads exactly what they are doing in terms of interaction and enterprise skills.”
This includes aspects such as security as well. The work being done in these settings is accomplished at an expedited rate, too, as automatic work doesn’t need to take days off for holiday like employees. qBoitca’s aim isn’t necessarily to replace employees in smaller businesses or companies, but rather help them to do their job better. It works toward enhancing their positions within the company, allowing them to grow in work environment. The technology is meant to serve the role of a “sidekick”.
While their robotics process automation is aimed toward the mid and smaller markets, for the larger markets, Mahesh emphasized that the way in which robotics is being utilized is wrong. In his view, they are automating a process that business analysts are describing, which at times, means it is being done through guesswork. They are releasing a new product called Intelligent Process Discovery, which caters to such instances by data science-backed process assessment and process discovery.
qBotica is excited about getting their brand out at the 2017 Money 20/20 event, to meet people from all walks of life, and for a wonderful opportunity to interact with those interested in their work.