Big Data & AI, Interviews

Interview: Camunda Q&A: ScaleUp 360° Cognitive Finance Automation

Stephan-Aina
Camunda_2x

In the run up to ScaleUp 360° Cognitive Finance Automation Europe we are excited to announce our Speaker Stephan Aina, Head of International Sales from Camunda.

Find out more about Camunda and get a sneak peek into his session at the digital event on April 21.

we.CONECT: We are pleased to bring onboard first-time partner Camunda for the next edition of the ScaleUp 360° Cognitive Finance Automation, which brings together technical experts from finance departments in the field of RPA and intelligent automation. We sat down with Stephan Aina, Head of International Sales to get a short introduction to what you can expect to hear during his presentation. To start with, please tell us about Camunda – what areas do you specialize in?

Stephan Aina: Camunda is an open source software company innovating process automation with a developer-friendly approach that is standards-based, highly scalable and collaborative for business and IT. A community of thousands of users across companies such as Allianz, ING, and Vodafone design, automate and improve mission-critical business processes end-to-end with Camunda, enabling them to build software applications more flexibly, collaboratively and efficiently, gaining the business agility, visibility and scale needed to drive digital transformation. To learn more visit camunda.com.

we.CONECT: What will you present at ScaleUp 360° Cognitive Finance Automation?

Stephan Aina: I’ll be presenting Automate Any Process, Anywhere, which is Camunda’s mission. We believe the algorithm is the most important concept in the 21st century, and we’ve worked hard to make the business process an algorithm, which companies can then automate using Camunda Platform.

To understand the difference in our approach, you need to understand what came before. Traditional BPMS is a proprietary application development method, with a one-stop shop, out-of-the box, monolithic solution employing limiting low-code tools.

But Camunda has reinvented process automation by providing a highly flexible solution that’s widely used by professional software developers, in addition to business users and citizen developers. We offer plug-in orchestration. This means our products can be used to orchestrate anything, from human task workers, API endpoints, business rules that are automated, RPA robots, microservices, IoT devices, to machine learning and AI.

End-to-end process automation allows companies to automate a business process from beginning to end, across an entire organization. This provides the ability and flexibility to quickly change a process if and when needed. Camunda Platform allows companies to use any tech stack, any endpoint, any platform — so business IT collaboration is baked into our products.

we.CONECT: Do financial institutions leverage Camunda? Can it be used in the banking world?

Stephan Aina: Yes, in fact, Camunda Platform is used by several of the world’s largest financial institutions including Goldman Sachs, Capital One, Fidelity, Societe Generale and Bank 11, specifically because it is massively scalable, flexible and enables teams to design, automate, and improve all components of the entire business process end-to-end – across different technologies, systems, infrastructures, people, and devices.

For example, Société Generale uses Camunda to power its managed workflow platform with over 500 modeled processes deployed worldwide. Camunda Platform is the central process automation platform for Corporate Investment Banking at Société Generale, which doubled active workflows and increased active users 70x within just six months of deployment.

we.CONECT: But what if your processes are not automated from end-to-end?

Stephan Aina: For companies looking to monitor a business process, we developed Optimize to tap into any system – including a microservice or a legacy application – and capture events from those systems, translating those events into BPMN and helping to monitor a business process from end-to-end.

we.CONECT: Can you explain how RPA fits into Camunda?

Stephan Aina: Enterprise use of Robotic Process Automation (RPA) has exploded in the last few years but according to Gartner, “…40% of enterprises will have ‘RPA buyer’s remorse’ due to misaligned, siloed usage and inability to scale.” Camunda’s State of Process Automation Report, surveying 400 IT decision makers and process automation experts found that 91% experience problems with RPA, such as managing security, maintenance, lack of control, compliance, and RPA only solving the short-term problem instead of the underlying issue.

RPA can be a very useful part of your digital transformation tool kit. However, it’s a tactical solution to automate individual tasks that should not be used to automate core business processes, but instead as part of your strategic journey towards a modern IT infrastructure with sound APIs and other integration points.

Camunda Optimize helps provide visibility into the business process from end-to-end and eventually allows companies to sunset old bots, and replace them with proper API endpoints or microservices through a three-step system.

we.CONECT: Do you offer Process Automation as a Service?

Stephan Ain: Camunda Cloud is the first cloud-native solution to combine BPMN with true horizontal scalability and fault tolerance for process automation. These are two of the biggest challenges enterprises are faced with as they automate mission critical business processes.

we.CONECT: Thanks Stephan! Be sure to check out his full talk at 9:30am on Wednesday, April 21stregistration is free and all presentations will be made available on-demand after the event through our hubs101 platform, so you don’t miss a thing.