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WATCH: Accenture Says Its New ‘Human-Machine Operating Engine’ Can Save Companies Millions

Accenture has launched new software to help firms streamline work.

SynOps is described as a human-machine operating engine. It sits on top of a company’s existing databases and uses artificial intelligence, advanced analytics and human insight to then optimize business processes and improve returns. In fact, one company testing the platform says it’s saved millions.

“If you are a chief procurement officer of a company, you are really looking at how to get the best out of your money and spend,” said Nirav Sampat, group technology officer at Accenture. “For a large beverage company, one of the things we did was look at all the indirect spend and really look at spend analysis in order to optimize what they needed to have. Then, we got all the information to the buyers, so they have all the right information to make the decision versus really having to look at a few things and make a decision for themselves. And, if you put it all together, it helped them to save millions of dollars.”

Aside from procurement, the new platform suggests ways businesses can streamline and automate processes in finance, accounting and marketing. It can also be customized to integrate with existing IT investments.

Accenture has seen the benefits: The consulting firm has used the software to automate tasks and redeploy about 40,000 employees, all of whom haves since been retrained to work other jobs within the company.

“What this has really helped us to do is evolve roles like Data Scientist and Artificial Intelligence Specialists,” said Sampat. “People are evolving from something they were looking at more of a transactional level to something that gets them to the next higher level of skill and capability.”

Synops is just the latest example of the way Robotic Process Automation (RPA) is transforming the enterprise. McKinsey research estimates that RPA, in which software is used to handle repetitive data entry and other routine tasks, will have an economic impact upwards of $6.7 trillion by 2025.

Check out CRNtv’s video for more information.