Technology and Automation

The Smith & Williamson Technology Team is experienced and innovative, combining deep technological knowledge with commercial acumen. We efficiently deliver pragmatic, tailored solutions. We achieve this by taking the time to understand your organisation, its objectives, risks and the longer-term challenges you’re likely to face.

*Realising the benefits

Reduce costs

  • Processing costs reduced by up to 80%
  • Gain back employee hours

Boost productivity

  • Average handling times reduced by 40%
  • Realise a 24/7 digital workforce

Improve quality

  • Reduce risk and eliminate human error
  • Refocus staff on value add

Rapid delivery

  • Benefit from Smith & Williamson library of processes
  • Implementation within eight weeks

*The statistics above are based on the average process automation experience of clients over the last 1 year. The figures are based off a feasibility study we carry out for each process – current employee time taken to complete the process VS robot time taken to complete the process .This was previously signed off by Lucy Warby and used in webinar.

Mohammad Bilal Salim, Associate Director, Tax Technology & Transformation

Robotic Process Automation (RPA)

Businesses must innovate and identify more efficient ways of meeting the ever-expanding needs of today, while also tackling tomorrow’s challenges. Through the use of technology, teams can focus on high value work and distribute more relevant information, contributing to overall business success.

Robotic Process Automation (RPA) software is a powerful tool that can perform manual, time-consuming, rules-based tasks, more efficiently than humans, also removing human error.

Use Robotic Process Automation to gather, collate and validate information including:

  • Data extraction
  • Data entry/administration
  • Data processing
  • Tax computations
  • Form processing
  • Document management

The ease of deployment and the speed of processes open the doors of agility to businesses. By deploying RPA processes at the departmental level, they can deliver repetitive processes, thus achieving efficiencies and cost savings while preserving flexibility. These types of processes are especially common in tax, finance and accounting, HR and form processing, but can also be found in other parts of a business.

We offer process selection, development and managed service for the running of RPAs with our technology and finance knowledge

Data governance, insight and visualisation

From data visualisation to predictive modelling, Smith & Williamson can work with you to design the analytics suitable for your business that generates rapid business intelligence. Benefits to you include improvements in financial reporting, better decision-making, cost reductions and identifying your financial trends.

Technology will help:

  • Cut costs
  • Achieve the target operating model
  • Improve governance
  • Track KPIs with live information
  • Real time risk management and compliance

Data visualisation: an example

New ways of working mean an organisation can:

  • Consider best in class v best in cost
  • Operate a virtual workforce and location strategy
  • Manage vendors in a cloud environment
  • Deliver sustainable finance and tax processes in new ecosystems

A digitalised finance function will deliver:

  • Data architecture, data quality
  • Data analytics and visualisation
  • Emerging technologies
  • Dashboards and workflow management
  • Harnessing cloud and APIs

Bringing it all together – the future vision

Business health check and monitor

  • Bespoke interactive dashboard based on built-in tests and alerts devised by Smith & Williamson’s specialists
  • Accounts receivable and payable analysis to auto-detect risk and suggest improvement in areas such as cashflow and rent collection
  • Portfolio analytics combining live data from multiple sources, tracking against KPIs and targets

System and process review

  • Post implementation review of a new ERP system to ensure fit for purpose
  • Process review to identify potential areas for improvement to reduce operating cost and mitigate risks using analytics and robotic process automation

Client selection process automation

  • Recommendation on potential customer selection based on pre-determined logic and predictive algorithm to optimise revenue and reduce risks
  • Incorporation of online resources such as Company House filing
  • Dashboard display for user friendly interface

What are the benefits?

  • Rapid deployment
  • Connection within the organisation
  • Transparency and improved governance
  • Automation and cost reduction
  • Reduce manual processes and risk of error
  • Enhanced operational controls
  • Risk focused monitoring and management
  • Informed decision making

Bespoke tools for financial management

Smith & Williamson has a collection of software designed to make finance and tax process more efficient. A selection is shown below.

Workflow management tool to better monitor progress and task assignment:

Web Survey Tool to collect data and conduct risk assessment centrally:

How Smith & Williamson can help

Our structured and connected approach ensures the right technology strategy will be achieved.

How we can help

  • We develop logical processes which will facilitate your finance and compliance processes, saving time and minimising risk.
  • We tailor to your process and make it digitally linked and, where appropriate, automated. You would not need to tear apart the whole finance function, instead make incremental improvements that add significant value
  • We deliver process efficient workflows to reduce key person dependencies through the smart use of software.
  • We can automate reporting, tax, accounting and entity tracking to allow personnel to refocus their time towards adding value.
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