Founding Minds Nurturing Ideas Thu, 07 Dec 2023 04:27:11 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 /wp-content/uploads/2023/03/cropped-favicon-1-32x32.png Founding Minds 32 32 Project Success: Best Practices for RPA Project Management /project-success-best-practices-for-rpa-project-management/ Wed, 15 Nov 2023 18:07:31 +0000 /?p=4859
How AI and ML drives the Fast changing Tech World

Robotic Process Automation (RPA) technology has become increasingly popular in recent years, thanks to its ability to automate repetitive manual tasks across a range of business functions. RPA implementation, however, can be complex and requires a well-defined project management approach to ensure success. Software automation is the new normal in today’s business environment. It reduces time consumption and increases the productivity of enterprises. However, implementing an RPA in an already set organization or even a startup is not easy. Numerous stakeholders are involved, and many aspects need to be considered before diving into it.

A successful RPA implementation undoubtedly depends on the solution. However, it also depends on how the organization manages the changes that accompany the implementation and post-implementation phases. RPA change management involves managing the future of the company with respect to these three elements: process, organization, and people. We must fundamentally be prepared to redefine things in order to ensure synergy between these three. There are strategies and approaches that can be helpful in addressing the problems that arise when managing organizational transformation with RPA. Here are some best practices for managing an RPA project to achieve optimal results:

Have a clear plan

The first step is to define the goals and objectives of the RPA project clearly. These objectives must relate to specific business goals and metrics, such as cost reduction, process efficiency, and increased productivity. The project team should also consider how RPA will impact existing processes, employees, and roles. Defining the RPA roadmap for the organization is one of the most crucial steps. The plan should set short-term and long-term goals.

Create Solution Design Document

In RPA projects, the Solution Design Document (SDD) plays a crucial role by providing a comprehensive blueprint of the automation solution’s architecture and design. This document serves as a communication bridge among team members, ensuring everyone clearly understands the project’s structure and functionality.

AI and ML in Action: Real-World Applications

The SDD becomes a valuable resource during troubleshooting, helping to pinpoint issues and identify areas for enhancement. As the project evolves, the SDD simplifies maintenance tasks, guiding developers in making updates or modifications to the RPA solution efficiently. In essence, the SDD is a cornerstone for effective collaboration, problem-solving, and project continuity in RPA development.

Assembling the right team

RPA implementation requires a team with cross-functional expertise. Team members must have a deep understanding of automation technology, and business processes, and the ability to collaborate effectively. Include process owners, IT staff, and business users with in-depth knowledge of the processes that will be automated. In order to ensure that it is perceived as a beneficial implementation, it is important to offer structured guidance to everyone who is associated with the project.
Providing appropriate training to all the associated employees helps create a bevy of digital workers in the organization. Ensure that you train everyone, right from the senior, managerial pool, right down to the junior employees. Effectively explain the need for RPA in the company, how and where it will make a difference to their responsibilities, and the potential benefits of implementing RPA.

Use reusable components

Reusable components are an important aspect of building efficient and effective RPA projects. Reusable components are pre-built software modules that can be easily integrated into an existing bot or process, reducing development time and improving overall performance.

Taking advantage of reusable components saves time, increases reusability and decreases maintenance costs. Well-built reusable components lead to increased collaboration, consistency, and standardization across RPA projects.
Examples of reusable components are the following: Log in and logout to the web portals, Data scraping, Sending and receiving emails, etc.

Regular monitoring and reporting

Regular monitoring and reporting of project progress is critical to ensure the project stays on track. To effectively monitor an RPA project, project managers should have a clear understanding of the project’s scope, timelines, and objectives. They should be aware of the specific workflows and processes being automated and the expected benefits of the project. Regular monitoring can involve tracking metrics such as cost savings, productivity gains, and error reduction. This may involve weekly or bi-weekly status updates, progress reports, or more frequent communications during critical project milestones. Reports should be concise, accurate, and easy to understand, providing relevant updates on the project’s progress and any issues or concerns that need attention.

Building an effective communication flow

Effective communication is crucial for the success of RPA projects. It helps everyone involved understand the project’s goals and requirements. Clear communication ensures that challenges are addressed promptly, keeping the project on track. It also allows for adjustments to changes in scope or timelines. Team collaboration is improved, making work more efficient and accountable. Transparent communication about potential risks helps in planning ahead to avoid issues. Reporting and documentation aid in accountability and knowledge transfer. Addressing end-user concerns ensures a smooth adoption of automated processes. Continuous feedback loops encourage ongoing improvements, making RPA initiatives more successful over time. In summary, a strong communication flow is essential for coordinating, managing risks, and improving RPA projects.

Build proper error handling

An efficient flow always contains error handling that makes the process execution trouble-free and easy-going at production and saves the execution from unknown error stoppages. The first step in building error handling in RPA project management is to identify potential errors. Once potential errors have been identified, prioritize them based on their severity and impact on the business process. This will help in determining the level of attention required for each error. Any new errors identified should be incorporated into the error management plan for continuous improvement. All errors and corresponding solutions should be documented for future reference and to avoid similar errors in the future. The RPA project management team can build a robust error-handling mechanism that minimizes the impact of errors on the RPA process and delivers optimal results for the business process.

Testing

Testing is a crucial aspect of RPA project management. The team should conduct extensive testing to ensure the software performs correctly and meets all the project requirements. Testing of RPA projects should include several levels and types of testing, such as unit testing, integration testing, system testing, and acceptance testing. That way we can achieve several benefits like cost effectiveness, improved quality, reduced risk, and faster deployment.

Successful RPA implementation

Implementing an RPA solution is a complicated and costly business. It is necessary to ensure that your business processes are as less affected during the implementation as possible. Proper project management is the key to successful RPA implementation. With the right planning, team, software, and testing, you can ensure that your RPA project delivers the intended benefits.

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How AI and ML drives the Fast changing Tech World /how-ai-and-ml-drives-the-fast-changing-tech-world/ Tue, 31 Oct 2023 06:52:57 +0000 /?p=4843
How AI and ML drives the Fast changing Tech World

The Tech world is undergoing constant changes, and at the heart of these changes lie the remarkable works of Artificial Intelligence (AI) and Machine Learning (ML). Their impact on the rapidly evolving tech landscape is undeniable and unforgettable, as it drives innovations and advancements that were once unimaginable. These powerful technologies are shaping a future where possibilities are endless, making the fast-changing tech world a fascinating realm to explore.

AI and ML in Action: Real-World Applications

  • Improving Customer Experience: AI and ML are being used to improve customer experience by analyzing customer behavior and preferences. For example, by using AI-powered chatbots, businesses can provide personalized support to customers 24/7. With ML algorithms, businesses can also analyze customer data to understand their behavior and preferences, and use that information to provide a more customized experience.
  • Automation: AI and ML are being used to automate tasks and processes, freeing up time for workers to focus on higher-level tasks. For example, AI-powered robots can be used in manufacturing plants to automate repetitive tasks, while ML algorithms can be used to automate decision-making processes in finance and healthcare.
  • Predictive Analytics: AI and ML are also being used to improve predictive analytics. With ML algorithms, businesses can analyze large datasets to identify patterns and relationships, and use that information to make predictions about future trends. This can be used in a variety of industries, including finance, healthcare, and retail.
  • Personalization: AI and ML are being used to provide personalized experiences in a variety of areas, including e-commerce, advertising, and entertainment. By analyzing customer data, AI algorithms can recommend products and services based on their preferences, and ML algorithms can provide personalized recommendations for movies, music, books and many more.
  • Improving Safety: AI and ML are being used to improve safety across industries such as transportation, manufacturing, healthcare etc. For example, AI-powered cameras and sensors can be used to detect potential safety hazards in the workplace, while ML algorithms can be used to predict and prevent medical conditions before they escalate.
AI and ML in Action: Real-World Applications

AI and ML are revolutionizing the tech landscape. They enhance customer experience, automate tasks, predict trends, personalize content, and boost safety. Their impact is evident across industries, reshaping how we live, work, and engage with technology. As they advance, the future of tech holds even greater possibilities.

Another transformative aspect is task automation. Mundane and repetitive tasks that once consumed valuable time and resources can now be efficiently handled by AI and ML algorithms. This liberation from routine enables human resources to engage in more creative, strategic, and complex endeavors that drive innovation.

Moreover, AI and ML contribute to heightened safety and efficiency standards across industries. In sectors like manufacturing and transportation, AI-driven predictive maintenance ensures that equipment malfunctions are preemptively identified, minimizing downtime and enhancing workplace safety. This amalgamation of AI and ML reshapes not only the operational landscape but also the very fabric of our daily lives.

AI and ML: Shaping Industries, Redefining Future
  • Automation and Efficiency: AI and ML are propelling rapid technological changes by driving automation and efficiency. Machine Learning algorithms, empowered by extensive data and master patterns are automating intricate tasks that were once time-consuming and prone to errors. Notably, AI-powered robotics in manufacturing execute precision tasks, accelerating production cycles and enhancing product quality.
  • Personalized Experiences: AI and ML foster personalized experiences by analyzing user behavior for tailored content and recommendations. Entertainment platforms recommendations are based on viewing history, and e-commerce suggests products aligned with preferences, enhancing engagement and loyalty.
  • Healthcare Revolution: The significance of AI and ML in healthcare is immense. These technologies are reshaping diagnostics and treatment, with ML models accurately detecting diseases from medical images. AI-driven chatbots provide initial medical guidance, while AI simulations aid in drug discovery, potentially revolutionizing treatment development.
  • Financial Advancements: In finance, AI and ML fuel progress in fraud detection, algorithmic trading, and risk assessment. ML identifies anomalies in transactions for real-time fraud prevention, while AI-driven algorithmic trading makes rapid investment choices, reshaping finance through efficiency and risk reduction.

AI and ML’s synergy sparks transformative innovation across industries, their evolving impact set to intensify. From automation to healthcare revolution, these technologies drive rapid change. Embracing and staying updated with AI and ML is essential for thriving in this dynamic tech landscape.

Densen Puthussery, the author of this article, has been serving as a Senior Machine Learning engineer at Founding Minds, focusing on developing AI and ML platforms for the past few years.

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FoundingMinds Software’s 15th Anniversary: A Fabulous Fiesta of Success and Smiles /foundingminds-softwares-15th-anniversary-a-fabulous-fiesta-of-success-and-smiles/ Thu, 05 Oct 2023 03:58:43 +0000 /?p=4752

On August 12th, 2023, FoundingMinds Software proudly celebrated a remarkable milestone – 15 years of unwavering commitment and progress since its inception. Our journey began in 2008 with humble origins and has been nothing short of extraordinary. To commemorate this special occasion, we celebrated our joy at the picturesque Backwaters Resort in Changanassery, Alappuzha.

Our founder Mr. Babu Sivadasan graced the event with his presence, adding a sense of importance to the occasion. We commenced the program by lighting a lamp to seek the blessings of the almighty and cutting a cake to symbolize this significant moment. Mr. Babu shared his inspiring journey of establishing FoundingMinds and his visionary outlook for the company.

Founding Minds Journey

Mr. Babu, a Computer Science graduate from the College of Engineering, Trivandrum, faced a challenging job market for his field. Repeated rejections ignited his determination to identify and resolve the problem. His solution was ambitious yet practical: create job opportunities. This aspiration gave birth to FoundingMinds, initially with just five employees who eventually became a closely-knit family.

Founding Minds had a unique mission to not only to generate jobs but also to support and nurture entrepreneurs. Creating our unique ideas, maintaining a solid team, and being like a family became our goal. From being funded to becoming self-funded, FoundingMinds has now come a long way. What started as a family of five then expanded to twenty, and now we have a strong number of 120+ people with two offices, a testament to Mr. Babu’s vision and dedication.

Mr. Babu also recognized the growing importance of Artificial Intelligence in the tech landscape. He emphasized the need for individuals and organizations to stay updated with AI’s transformative potential, acknowledging its competitive edge in today’s world.

Our CEO, Mr. Regi Roy and our Managing Director, Mr. Jayan Chacko, along with our Vice Presidents Praveen R, Nikhil C R, Anish Chandran, and Rathish Gangadharan shared their invaluable experiences. It was a pleasure to listen to their insightful thoughts and reflections.

Celebration Highlights

The entire FoundingMinds family came together to celebrate this huge milestone. The celebration was filled with engaging programs, experiences,and memories shared by the employees. Various fun games and cultural performances kept everyone entertained. Occasions as such bring out the hidden talents amongst us.

We were treated to mesmerizing dance and enchanting musical performances by our talented employees Dhanya Thanmayi, Ajimi Mol, Deepthy V, Karthika S M, Akhil T R and Mariya Jessy. Employees who have been with us since the beginning and those who recently joined our ranks shared their personal journeys at FoundingMinds.

Employee Testimonials

“I am so grateful to be a part of this FoundingMinds family for the past 11 years and happy to contribute to the larger mission and vision of the company.”

Anagha Mathew, Senior Software Engineer

“It was a memorable experience to attend the Founding Day with the Team. The enthusiasm and spirit of the attendees made the event a joyous one. It was an honor to be invited as I met my colleagues for the first time. My sincere gratitude to the organizers for making the event successful. Thanks for making me a part of the special day.”

– Snehadeep Banerjee, Business Analyst

 Hearing that everyone had a fantastic time at the celebration was heartwarming.

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Onam 2023: A Festive Triumph at FoundingMinds /onam-2023-a-festive-triumph-at-foundingminds/ Mon, 07 Aug 2023 05:32:43 +0000 /?p=4726

Onam, the lively harvest festival of Kerala, India, holds a special place in the hearts of FoundingMinds employees. Our dedication to Onam’s celebrations goes beyond the ordinary. Late-night sessions of designing intricate pookalams and the morning ritual of meticulously arranging hand picked flowers are just some of the ways we immerse ourselves in the festivities. All the elegant ladies and dashing gentlemen of FoundingMinds arrived impeccably dressed and ready to make this celebration a memorable one.

This year at FoundingMinds, our enthusiastic employees participated in the spirited tug-of-war and pookalam competition organised by Prathidhwani. Our Kochi and Trivandrum team may not have clinched the victory, but their remarkable performance truly shone. We applaud the dedication and sweat put in by each team member.

Of course, Onam would be incomplete without the sumptuous Onasadhya. The lavish feast, teeming with an array of side dishes and diverse Paayasam varieties, is a star attraction of the festival – guaranteed to induce a delightful food coma.

At FoundingMinds, we take pride in celebrating Onam not only for the traditions it upholds but also for the sense of unity and friendship it fosters among our team members. Adding an artistic touch to our celebration, hidden talents within the office serenaded us with Onam songs, adding to the festivities.

‘’We had a great day of togetherness at the Trivandrum office for the Onam celebration. All of us reached in our favourite Onam attire, made the flower carpet with a unique design, and included hues like yellow, red, white, green, and orange giving a charming look to the Pookalam. Onasadya was very delectable with 3 kinds of payasam. The celebration ended with various art programmes performed by the talents among us.’’

-VishnuPriya N V

Both our Trivandrum and Kochi offices were filled with joy. Employees came together to ensure that this day was brimming with excitement and cherished memories. It was a pleasant day filled with joy, beautiful memories and some extra Paayasam! Waiting in anticipation for the next Onam celebration to make it even more special.

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Sreejith G Shines at JJ Classic Mr South India: A Testament to Dedication and Fitness Excellence /sreejith-g-shines-at-jj-classic-mr-south-india-a-testament-to-dedication-and-fitness-excellence/ Thu, 29 Jun 2023 02:03:09 +0000 /?p=4581

We congratulate our esteemed teammate, Sreejith G, on his exceptional performance at the prestigious JJ Classic Mr South India competition. The event at Kaloor AJ Hall on May 27th witnessed fierce competition among 75 talented contestants vying for the coveted title. Sreejith’s remarkable talent and dedication propelled him to secure a spot among the final seven contestants.

Sreejith’s journey in the competition showcased his unwavering determination, passion, and commitment to fitness and bodybuilding. His impressive physique and well-choreographed routine left a lasting impression on the esteemed judges. The competition demanded rigorous training, perseverance, and a display of exceptional talent, and Sreejith’s accomplishment in reaching the final seven is a testament to his hard work and dedication. His commitment to maintaining a healthy and fit lifestyle serves as an inspiration to all of us. His dedication and determination exemplify the core values we strive to embody as an organization.

Mr. Sreejith became interested in bodybuilding during the pandemic. As many of us were struggling with the challenges of working from home, he found that bodybuilding provided a much-needed outlet for his stress and anxiety. It became a hobby that he enjoyed and took seriously, and he began to see impressive results from his hard work and dedication.

At Founding Minds, we take immense pride in our employees’ achievements inside and outside the workplace. Sreejith’s remarkable success in the JJ Classic Mr South India competition reflects his drive for excellence, discipline, and the pursuit of personal goals. We are proud to have Sreejith as a valuable team member and look forward to his continued success in all his endeavours.

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Research on Relativistic GAN for Super-Resolution: Founding Minds AI Team presented their finds at the International Conference on ESDC /research-on-relativistic-gan-for-super-resolution/ Thu, 22 Jun 2023 04:19:12 +0000 /?p=4527

We are thrilled to announce that three of our esteemed employees, Hrishikesh PS, Densen Puthussery, and Akhil KA, have achieved remarkable milestones in their research careers. Their paper, titled “Relativistic GAN using Receptive Field Block for Single Image Super-Resolution with Improved Perceptual Quality,” was selected for presentation at the 11th International Conference on ESDC, a prestigious event in the field of Cyber-Physical Systems (Industry 4.0).

The conference co-sponsored by IEEE, which took place from 4th to 6th May 2023, was jointly organized by the Indian Institute of Information Technology (IIIT) Sri City and the London Digital Twin Research Centre (UK). The conference allowed leading researchers and practitioners to share their cutting-edge insights and advancements.

Research on Relativistic GAN for Super-Resolution

Hrishikesh PS, Densen Puthussery, and Akhil KA represented Founding Minds Software with their groundbreaking research work, which focuses on enhancing the perceptual quality of super-resolution images through the application of a Relativistic GAN using Receptive Field Block. Their selection for presentation at the conference highlights the exceptional dedication and expertise of our Machine Learning (ML) team. Their contributions to the field of Cyber-Physical Systems further cement Founding Minds’ position as a leading innovator in the industry. Their groundbreaking research exemplifies our commitment to pushing the boundaries of knowledge and driving innovation in Machine Learning.

Founding Minds congratulates Hrishikesh PS, Densen Puthussery, and Akhil KA for their highly commendable recognition. Their remarkable achievements testify to their unwavering commitment, tireless efforts, and invaluable contributions towards advancing Cyber-Physical Systems.

At Foundingminds, we cultivate a vibrant culture of innovation in AI and Machine Learning. We actively research regularly, embracing fresh ideas and experimenting with emerging technologies. Moreover, we stay abreast of the latest industry insights and updates from renowned experts and influential figures in AI. The transformative impact of AI in various industries, from predictive maintenance to smart factories and autonomous robots, is revolutionizing our work and lifestyle. By embracing these trends, we position ourselves for future success.

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Harnessing the Intelligent Revolution: Key AI Trends Shaping 2023 /harnessing-the-intelligent-revolution-key-ai-trends-shaping-2023/ Thu, 22 Jun 2023 04:08:22 +0000 /?p=4628
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The world is fast changing, with technology leading the way. The use of AI technology in industries is transforming the way we work and live. The benefits of Industrial AI are numerous, from improved productivity to reduced costs and increased accuracy. We will explore the top trends expected to dominate the world of Industrial AI in 2023.

1.  Predictive Maintenance: Predictive maintenance is a crucial area of Industrial AI that will continue to grow in the coming years. Using AI algorithms, machines can predict when they will fail, allowing maintenance to be scheduled before a breakdown occurs. This helps to reduce downtime, increase efficiency and lower maintenance costs. This enables organisations to plan maintenance activities more efficiently and cost-effectively, reducing downtime and improving overall operational efficiency.

By identifying potential issues before they lead to major failures, predictive maintenance helps prevent costly repairs and replacements, extends the lifespan of equipment, and enhances safety.

2.  Smart Factories: Smart factories are the future of manufacturing. They are equipped with AI-powered sensors and machines that work together to produce goods efficiently and cost-effectively. With the rise of Industry 4.0, smart factories will become more prevalent and change how we think about manufacturing.

3.  Autonomous Robots: Autonomous robots are one of the most exciting areas of Industrial AI. These robots can work 24/7 without breaks, which increases efficiency and reduces costs. In 2023, we can expect to see an increase in the use of autonomous robots in industries such as manufacturing, logistics and retail.

4.  Quality Control: With AI, it is possible to automate quality control, reducing the chance of human error and ensuring that products are of the highest quality. We expect more industries to adopt AI-powered quality control solutions.

5.  Supply Chain Optimization: Supply chain optimization is another area of Industrial AI that will grow in the coming years. Companies can optimise their supply chains by using AI algorithms, reducing costs, increasing efficiency and improving customer satisfaction.

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6.  Personalised Customer Experience: Personalization is vital in today’s market. With AI, it is possible to personalise the customer experience, tailoring products and services to meet each customer’s specific needs. We expect more companies to adopt AI-powered personalisation solutions to provide customers with a seamless and personalised experience.

At Foundingminds, we cultivate a vibrant culture of innovation in AI and Machine Learning. We actively engage in regular research, embracing fresh ideas and conducting experiments with emerging technologies. Moreover, we stay abreast of the latest industry insights and updates from renowned experts and influential figures in the field of AI. The transformative impact of AI in various industries, from predictive maintenance to smart factories and autonomous robots, is revolutionizing our work and lifestyle. By embracing these trends, we position ourselves for future success.

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Streamlining Operations: A Guide to Implementing RPA in Your Organization /rpa-streamlining-operations-a-guide-to-implementing-rpa-in-your-organization/ Mon, 05 Jun 2023 11:00:29 +0000 /?p=4519
Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is a technology that automates repetitive, manual tasks using software robots, freeing up human employees to focus on higher value tasks.

rpa
RPA Implementation

Robotic process automation implementation allows businesses and organizations to automate different, often menial, mundane, and rule-based tasks across applications and systems that would otherwise fall under the scope of human responsibility. In short, RPA implementations aim to transfer process execution from humans to software bots. RPA implementation technology is a game-changer for businesses looking to improve efficiency and productivity while cutting costs.

By implementing RPA in an organization, you can streamline operations and free up your employees to focus on more important tasks.

Here is a guide to help you implement RPA in an organization:

  • Identify the tasks that can be automated: Start by identifying the tasks that are repetitive, rule-based, and time-consuming. These are the tasks that can be automated with RPA. Create a list of these tasks and prioritize them based on their impact on an organization.
  • Evaluate the potential benefits of RPA: Analyse the benefits that implementing RPA can bring to your organization, such as reducing processing time, improving accuracy, and freeing up human employees for higher-value tasks. You can also consider the ROI of implementing RPA.
  • Choose the right RPA tool: Research and choose an RPA tool that suits your organization’s needs. Look for a tool that is easy to use, scalable, and can integrate with your existing systems.
  • Develop a proof of concept: Before implementing RPA on a large scale, it’s best to start with a small project to test the waters. Develop a proof of concept by automating a single task and evaluate the results. This will help you understand the benefits and limitations of RPA and make any necessary adjustments.
  • Choose the right team: Implementing RPA requires a team of experts who can design, develop, and deploy the automation. Choose a team with experience in RPA and the skills required to execute the project successfully.
  • Train your employees: Once the RPA solution is deployed, it’s important to train your employees on how to use it. This will help them understand the benefits of automation and how it can improve their productivity.
  • Develop an RPA strategy: Develop an RPA strategy that outlines the processes to be automated, the timelines for implementation, and the roles and responsibilities of the team members.
  • Test and refine the automation: Once the RPA solution is developed, test it thoroughly to ensure that it meets the requirements and is error-free. Refine the solution as needed.
  • Roll out the RPA solution: Roll out the RPA solution in a phased manner, starting with a pilot program before scaling up to the entire organization. Provide training to the employees who will be using the RPA solution.
  • Monitor and evaluate: Once the RPA solution is in place, it’s important to monitor its performance and evaluate its impact on your organization. This will help you identify areas for improvement and make any necessary adjustments.
  • Continuously improve the RPA solution: Keep refining and improving the RPA solution to maximize its benefits and ensure that it continues to meet the organization’s needs.
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By following these steps, you can successfully implement RPA in your organization and enjoy its benefits.

  • Boost Productivity
  • Improve Efficiency to Generate Savings 
  • Hit Accuracy Goals 
  • Reliable Consistency
  • Better Business Data Security 
  • Produce Data for Important Analytics 
  • Better Customer Service Experience
  • Great Scalability

Return on Investment (ROI) is a project’s expected return in percentage terms. ROI is a critical tool for measuring the impact of your RPA investment with real data. With an understanding of your RPA initiative’s ROI, you can: Justify the initial investment to business leaders with data-driven evidence.

An investment in RPA can help companies optimize their processes, improve delivery of information, capture errors, alert users, and improve solutions that drive customer satisfaction.

Return on investment (ROI) in the form of both cost and time savings is expected to boost the RPA .

To calculate ROI: Subtracting the initial value of your investment from the final value of the investment. This is called the net return. You then divide the net return by the cost of the investment and multiply by 100.

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Common Challenges in the RPA Implementation Process

Despite the many benefits of RPA, the implementation process can be challenging. It’s important to understand the challenges and prepare adequate strategies for dealing with each one.

Here are some of the key challenges businesses and organizations face during the RPA implementation process:

  • Reluctance — Reluctance, or resistance to change, is one of the most common challenges associated with RPA implementation. Your employees might be hesitant to embrace new technologies, fearing that their jobs might be at risk. Therefore, it’s important to communicate the various benefits of RPA implementations to your employees and involve them in the implementation process to help them overcome their reluctance and resistance to change.
  • Process Standardization — RPA implementations require the standardization of processes taking place within your organization’s operations to automate effectively. Without standardization, the RPA implementation can be both challenging and time-consuming. So, it’s a good idea to standardize your organization’s operational processes before implementing RPA technology.
  • Technical Complexity — Depending on the architecture, the RPA implementation can be technically complex, requiring expertise in areas such as programming, data analysis, and system integration. This can prove challenging for organizations that lack technically proficient staff with the necessary technical skills. If you are worried about the technical complexity of implementation at your organization, it’s best to work with a reputable vendor and establish a Center of Excellence (COE) that can provide technical guidance.
  • Change Management — RPA implementations often require and result in significant changes in the organization’s workflows, processes, and systems. This can be challenging for organizations that lack a structured approach to change management. It’s important to develop a change management plan that includes communication, training, and stakeholder engagement.
  • Security and Compliance — RPA software bots often require access to sensitive data, which raises security and compliance concerns. To avoid potential legal issues, it’s crucial to establish adequate security protocols to protect the data and ensure compliance with industry standards.
  • Scalability — Scalability of RPA implementations can be challenging, especially if your organization has many processes that need to be automated. Choosing an RPA solution that can be easily scaled is crucial, and establishing a process that would prioritize other automated processes is vital.
  • Maintenance — RPA requires ongoing maintenance to ensure the technology continues operating efficiently. However, this can be challenging for organizations lacking the necessary resources. That’s why it’s important to establish a maintenance plan and work with a vendor that offers comprehensive maintenance and support.

Addressing these common challenges allows organizations to better prepare for RPA implementation and increase the likelihood of success.

RPA implementation can be challenging and complicated if it is done without proper planning and allocation of tools and resources. In the absence of these, the implementation of RPA can seem daunting and intricate. Therefore, having an RPA automation expert at your disposal can take off the burden from the organization. This also prevents failures and problematic anomalies. Moreover, you can study the RPA implementation examples to derive insight before implementing them.

Posted by Nikhil Jayan and Kathika.S.M

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Founding Minds Employees Run to Success: Conquering Marathons with Perseverance and Passion /founding-minds-employees-run-to-success-conquering-marathons-with-perseverance-and-passion/ Mon, 05 Jun 2023 07:14:55 +0000 /?p=4587
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Employees of Founding Minds, Saritha MN, Aswathy Moodadi, Visal SV, Vishnu Rajendran and Kishore SS have made their mark in marathon events across Kerala, showcasing their remarkable determination and passion for running.

Saritha MN, a dedicated participant from Founding Minds, achieved an impressive feat by completing the challenging Kochi Marathon, held on May 1st, 2023. Her unwavering spirit and perseverance were evident as she conquered the demanding course, earning admiration from fellow runners and spectators alike. On May 27th, 2023, Saritha MN continued to push her limits by completing the gruelling 10-kilometre Midnight Marathon in Calicut, Kerala. Her dedication and commitment to excellence were displayed as she crossed the finish line, adding another remarkable achievement to her running journey.

In addition, Aswathy Moodadi, an enthusiastic newcomer to the world of marathons, embarked on her running journey by participating in Kochi Marathon on May 1st. Her commitment to personal growth and willingness to embrace challenges were evident as she took her first strides towards becoming an accomplished runner.

Not to be outdone, Visal SV, Vishnu Rajendran and Kishore SS demonstrated their athletic prowess by participating in a marathon event held in Trivandrum on 19th March 2023. Their dedication to fitness and passion for running was evident as they crossed the finish line, leaving an impression on the running community.

The exceptional achievements of Saritha MN, Aswathy Moodadi, Visal SV, Vishu Rajendran and Kishore SS reflect the values Founding Minds cherished, including promoting a culture of health, well-being, and personal growth among its employees. The company takes great pride in supporting its employees’ pursuit of their passions and encourages participation in community events that promote an active lifestyle.

As these employees return to their roles at Founding Minds Software, they carry the invaluable experiences gained from their marathon endeavours. The perseverance, determination, and teamwork acquired during their training and participation will undoubtedly contribute to their continued personal and professional success.

Founding Minds extends heartfelt congratulations to Saritha MN, Aswathy Moodadi, Visal SV, Vishnu Rajendran and Kishore SS for their dedication and accomplishments in their respective races. The company wishes them continued success in their future athletic pursuits.

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Myth of Multitasking /myth-of-multitasking/ Mon, 20 Mar 2023 10:03:43 +0000 http://beta.foundingminds.com/?p=4425
Multi-tasking is seen as a must have skill in today's fast paced environment

Multi-tasking is seen as a must-have skill in today’s fast-paced environment. In many cases, it has become a necessity rather than a choice. Increasingly though, it is being realized that human beings are incapable of true multitasking and even when we multitask, it is not productive.

Human multitasking

Multi-tasking is defined as the ability to do two or more things at the same time. There is concurrent multitasking, where two or more tasks are done at the same time. Alternatively, context switched multi-tasking involves switching between multiple unfinished tasks. We will talk about the science behind multitasking, the pitfalls and some thoughts on being effective at juggling tasks.

The Science of multitasking

Prefrontal Cortex is the task manager of the human brain. It is split into two hemispheres. Studies have shown that when human beings are dealing with one activity, the entire prefrontal cortex is dedicated to managing this task. When you add a second task, the prefrontal cortex dedicates one hemisphere to each task. Each hemisphere is now theoretically able to handle a task independent of the other. Add a third task and the brain starts to swap things around to accommodate the third task. Humans are imperfect machines and we start forgetting things as we switch between tasks, which leads to a significant increase in errors. (Multitasking splits the brain)

It would seem that with adequate training we could do two tasks effectively at the same time. This would be true if we had no other stimulus around us but these two tasks. In reality, though, there is a constant barrage of things ready to distract us from our two tasks. A door slamming, notification of a new email coming in are all stimuli that will need the attention of our brain to process consciously or subconsciously.

If we cannot do true multitasking, then we are left with the possibility of doing context switched multi-tasking. When we switch tasks, it puts a significant drain on one’s brain to catch up and to get refocused. This can be a few minutes for tactical tasks to over a half an hour for creative or strategic activities. It seems reasonable that humans can handle two or more tactical or repetitive tasks simultaneously, but it’s best to focus on one strategic activity at a time. It is ironic then that it is managers and leaders who have a more strategic focus that get called on to multitask more than staff members who typically are doing one assigned task!!!

Multitasking hurts

It is widely accepted that multitasking leads to lower productivity overall. This is not limited to slowing your activities, thereby reducing overall productivity. Studies have shown that your IQ drops when you multi-task significantly. You go through the motions of a task without thinking it through leading to lower quality outcomes.

There are health impacts as well. A study by the University of Sussex found that heavy multi-taskers have smaller gray matter density. This brain damage can have long lasting implications.

Multi-tasking also lowers your emotional intelligence. Social awareness, empathy, self-esteem etc. drop when you become more machine than a human trying to juggle multiple tasks without emotionally connecting with the activities. It also impacts the way you engage with people affecting relationships.

How to manage tasks more effectively

I would like to share a strategy I use to manage my work. I use a variation of the Eisenhower Matrix to organize my tasks.

How to manage tasks more effectively

I keep assigning tasks as they come into these quadrants. You can use any tool of your choice to model these.

Daily Planner

Every day in the morning, I pull down items from this list into my daily ToDo. I choose one or two tasks that are strategic and important, as well as several tasks that are tactical and urgent. I allocate time slots for the strategic items in my calendar, so I am not disturbed. During the day, I make several passes through the list ticking the tactical-important things off. These sometimes serve as a break for more heavy-lifting strategic activities and I get some satisfaction from striking off these lists. I limit any multitasking to tactical tasks.

There are any number of distractions to take you away from your task but there are some which I consider self inflicted. It is an easy escape when I get stuck or bored. This is especially true at the start of a heavy long activity and my brain needs to be forced to focus. For me, it is checking the news feed to catch up on recent world events. I do this without thinking and before I know it, I have lost time and focus. These can be habit forming and very hard to break.

When it is time to focus on my strategic tasks, I close the door to my office and I give my full attention to the task at hand. It takes time to get my juices flowing, but when it does, my productivity and creativity are at its peak. Often I am surprised by how quickly I am able to get a large task done when I am focused solely on it.

End of the day, I throw out my ToDo to start all over again the next day. It gives me both a sense of achievement and closure. Starting fresh has a more positive impact on me than incrementing the list for the next day. I use a physical spiral binder for my daily ToDo list and keep striking off items when done. At the end of the day, I tear and throw the daily ToDo in the bin.

I hope this gets you thinking about your own task management practices and helps you improve them. All of the above works within a framework of long term planning so you have your strategic and important items prioritized. I will talk about this more in a future blog.

Author: Regi Roy

With over twenty years of experience bringing innovative products to market, Regi Roy, as CEO, provides leadership to all activities at Founding Minds. Regi brings a wealth of expertise, having led large teams developing WordPerfect Suite at Corel, bootstrapping his medical imaging company and recently helping grow TITUS into a Deloitte Fast 500 company.

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