Marcum Launches Robotic Process Automation Service for Clients

New York-based Marcum (FY16 net revenue of $449 million) launched a new service utilizing “bot” technology to automate repetitive manual processes and streamline many data-driven functions for its clients. Marcum’s new robotic process automation (RPA) service leverages the firm’s internal experience utilizing bot technology, to help clients reduce their operating costs and improve efficiency.

RPA can be implemented across a wide variety of applications and systems, deploying a “virtual workforce” of bots to perform tedious functions that are time-consuming and prone to human error. Some of the functional areas well-suited to process automation include accounts payable processing, data entry, human resources onboarding, inbound lead processing, report generation and distribution, and web data retrieval.

“In addition to eliminating manual tasks that employees would otherwise spend hours to complete, RPA frees valuable staff to be deployed to other functions requiring human judgment and innovation. It is also a practical and cost-efficient alternative to outsourcing,” says Robert Drover, a principal in the advisory services division and leader of the national process improvement practice. “RPA has limitless scaling capabilities and delivers real and measurable return on investment. In some cases, clients can recoup their initial investment in as little as a few months.”

Marcum’s robotic process automation services cover all stages of development and implementation, including:

  • Robots as a Service
  • Business Process Improvement
  • Robotic Process Development
  • RPA Consulting Services

“Robotic process automation is a must-have in any forward-looking digital portfolio. The continual acceleration of functionality in RPA solutions and the convergence with robust application programming interfaces, or APIs, enables significantly greater efficiency in today’s digitally driven office,” says Peter Scavuzzo, chief information officer and partner. “Given our success with robotic automation and other new technologies in Marcum’s business, the next logical step is to share our expertise with our clients to assist in their own digital transformation.”

“Robots operate 24 hours a day, 365 days a year, and never take breaks, vacations or sick days. They can be executed by a scheduler at pre-determined times, or they can be triggered to execute in response to defined events such as the arrival of email or text messaging and, soon, voice-activated commands,” says Drover. “In addition, we can simulate user interaction to enable bots to ‘read’ error messages and adapt to ‘fix’ problems presented on-screen, to keep processes moving. Continued advancements in cognitive computing will only further enhance this capability.”