Category Archives: Automation

HSINCHU, Taiwan--(BUSINESS WIRE)--Faraday Technology Corporation (TWSE: 3035), a leading ASIC design service and IP provider, today announced that it has successfully delivered multiple Factory Automation ASIC projects mainly in the field of industrial IoT (IIoT). These designs include applications of industrial automation controllers and communication, robots and PLC processors - implemented in 8 and 12 wafer process technologies. They brought long-term supply commitments to our customers while providing superior reliability to meet the industry requirements.

Faraday has been equipped to meet the rising demand for factory automation with decades of development in SoC design and IP solutions. It has accumulated years of experience with ARM processors which has helped us to achieve high-speed computing performance, including ARM Cortex A series quad core and multi core sub-systems. Furthermore, Faradays own-designed IP portfolio embraces abundant multi-protocol interfaces for seamless connection among a variety of edge devices, such as USB, PCIe, Giga-bit Ethernet MAC/GPHY, and CAN-FD Bus.

Factory automation applications require high-performance CPUs and comprehensive interface IP to connect various devices for efficient data collection and analysis to accomplish Industry 4.0, said Flash Lin, COO of Faraday Technology. Faraday is proficient not only at the decisive technologies of powerful computing capability but also IP development. We believe Faradays expertise can contribute to facilitate the migration to Industry 4.0, he added.

About Faraday Technology Corporation

Faraday Technology Corporation (TWSE: 3035) is a leading ASIC design service and IP provider, certified to ISO 9001 and ISO 26262. The broad silicon IP portfolio includes I/O, Cell Library, Memory Compiler, ARM-compliant CPUs, DDR2/3/4, LPDDR1/2/3/4/4X, MIPI, V-by-One, USB 2.0/3.1 Gen 1, 10/100/1000 Ethernet, Serial ATA, PCI Express, and programmable SerDes, etc. Headquartered in Taiwan, Faraday has service and support offices around the world, including the U.S., Japan, Europe, and China. For more information, visit http://www.faraday-tech.com or follow Faraday on LinkedIn.

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Faraday Succeeds in Factory Automation ASIC - Business Wire

Back in the day, onboarding was a process that had to be done face-to-face, at a brick-and-mortar location that had a computer system hooked up to a program that could be monitored and checked for compliance.

The Know Your Customer (KYC) platforms have changed that old traditional system in some substantial ways. Changes that are the best for companies and consumers alike.

When you combine an automated system to the KYC platforms you gain a winning combination that will speed up all the processes involved in every transaction.

There are a few substantial ways that this type of platform will transform the onboarding of new clients and customers. Let us look at a few of them.

As you can see an automated KYC system will transform how companies onboard new customers, new employees, and it will take over the aspect of business that takes up the most time and requires the most amount of work hours. Automation will be good for companies, for consumers, and employees.

With the decrease in need of workers, companies will continue to downsize their workforce. Not good for people looking for jobs unless they are willing to roll with the changes and learn all about the modern technology and systems.

If they are, the sky is the limit because there will be jobs open for people that can fix problems, verify accounts, and keep track of the AI systems to double check for any issues that may occur.

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How KYC Automation is Transforming Client Onboarding - Robotics and Automation News

Manufacturers are racing to automate. Businesses are digitizing their operations and leveraging edge computing to increase productivity by building systems of machines that work accurately and consistently around the clock to improve quality and output. Evolving into an automated, Industry 4.0 factory also enhances safety, enabling equipment, not people, to perform dangerous tasks.

Furthermore, automation reduces the labor hours required to do a job, enabling manufacturers to control costs and weather labor shortages. Additionally, automation can cover monotonous and unchallenging work, resulting in greater job satisfaction among employees who can spend their time on higher-level tasks.

Businesses keeping pace with this fourth Industrial Revolution by creating systems of connected devices, including both information technology (IT) and operational technology (OT), are realizing that its not practical to process all data in the cloud. Internet of Things (IoT), big data analytics, artificial intelligence (AI)-powered, robotics, and other advanced systems often require minimal latency for subsecond responses. Therefore, solution builders are moving some computing workloads to the edge to provide automated systems with the effectiveness and reliability they need.

Connected vehicles, electric vehicles, and autonomous vehicles are gaining popularity. These advanced technologies require sensor fusion, wireless connectivity, power management, security, and other advanced driver-assistance systems, making automotive production more complicated. As a result, manufacturing processes must evolve as well.

For illustrations of how embedded computers are enabling Industry 4.0 functionality today, look no further than vehicle manufacturing and fleet management. For example:

Robots have a decades-long history of making automotive manufacturing more efficient. However, with advanced technologies supported by edge computing, manufactures, such as, automotive makers can leverage robots to build vehicles with more advanced designs that require more complex assemblies. Collaborative robots also give manufacturers more flexibility than industrial robots, allowing them to move capabilities where theyre needed without building costly new infrastructure.

Embedded computers give transportation and logistics enterprises the ability to track assets and provide advanced telematics that monitors driver behavior, idling and fuel use, vehicle performance, and indications that the vehicle requires maintenance. Autonomous mobile robots (AMRs) are another uprising applications in warehouse and logistics.

Edge computing is key to autonomous vehicle operation, providing the capacity to run power-hungry driving algorithms and process data quickly so that the vehicle can safely respond to unexpected situations. Additionally, embedded computers in autonomous vehicles can receive data from nearby vehicles to enable smooth traffic flow through an intersection and maintain safe distances between cars and trucks on a highway in inclement weather.

Whether your use case is in automotive manufacturing, transportation and logistics, or any of numerous other industries that benefit from edge computing, solution builders need to choose precisely the right hardware for their application. Start with these key considerations for selecting embedded computers:

If youre ready to move forward with your Industry 4.0 project, including computing to the edge,ADLINKs Matrix Seriesof embedded PCs checks all the boxes and will ultimately deliver the reliability, efficiency, and power necessary for system optimization.

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Beginners guide to selecting embedded computers in the accelerated wave of automation - Vision Systems Design

The global healthcare sector is under severe strain and on the edge of crisis, as nation states struggle under the pressures from recent coronavirus variants.

In the UK, absenteeism in the National Health Service rose by 38% in the last two weeks of 2021, with Hospital Trusts in London seeing a 122% increase in coronavirus employee sickness in a week. The knock-on effect of employee illness is the impact on patient care. In its report, the cross-party Health and Social Care Committee disclosed that 5.8mn patients were waiting to receive treatment in September 2021, 300,000 of which have been waiting for more than a year. The unintended consequence is the postponement of other equally important healthcare areas such as primary care, community services and mental health services.

These overwhelming increments paint the picture of a healthcare sector in need of reinforcement. As a result of such unprecedented change, the industry is primed to embrace technology automation technologies like Robotic Process Automation (RPA) which has become an important part of supporting healthcare systems globally. The impact is a resilient healthcare system for best-in-class patient outcomes pandemic or otherwise.

The global healthcare crisis has forced hospitals to accelerate the use of tools and processes such as RPA, to create much-needed breathing spaces in hospitals and build a resilient health sector.

The processes essential to the operation of healthcare facilities and the patient's medical journey are increasingly automated to drive efficiency, accuracy and cost-savings. This has been especially important during the pandemic as hospitals seek innovative ways to function closer to full capacity.

Processing patients, their data, and appointment schedules are increasingly automated in healthcare.

For instance, as COVID vaccinations gather pace, the continued scheduling of patients for booster shots is critical to lessening the impact of the pandemic. However, this manual procedure poses logistical difficulties and can be time consuming. Instead robots can be used to automate scheduling processes and unshackle professionals time. Subsequently, allowing more time to focus beyond COVID related patient care.

Ultimately, Process Discovery (also known as Task Mining) and mapping every process across the healthcare industry will support staff in saving lives. Moreover, the increased visibility enabled by automated Process Discovery specifically, promotes ongoing operational efficiencies and process excellence by saving precious time and costs. Discovering all of the possible processes within healthcare organisations leads to better data collection - a crucial factor in navigating a pandemic and mapping individual needs.

The COVID-19 pandemic has seen national data become increasingly important particularly in understanding how the virus develops and what measures can help to minimise the spread. However, on a national scale, gathering, processing, refining, and validating data from individual hospitals is complex. Data must be acquired from specific hospitals which will have their own data collection and processing protocols. But with humans processing gigabytes of data, errors are almost inevitable.

Add to that, the privacy parameters required around data handling and the need for anonymity for patient privacy, and you have a number of components to consider.

Automation can help streamline these processes efficiently and accurately. Overcoming the potential for a logistical minefield. Most importantly, healthcare and IT personnel can be freed to focus on whats really important supporting patients and saving lives.

Successful demonstrations of RPA in action can already be found in medical facilities around the world. The Ministry of Health in Brazil, for example, used automation to overcome logististical challenges in its hospitals recently. Collecting and processing data using various processes for its population of over 200mn people was a staggering process. With automation, they increased accuracy and efficiencies while freeing up healthcare professionals and IT staff when they were needed most.

We know now that COVID is likely to continue evolving, but despite this realisation there is an understanding that it is something that we must learn to live with. This new reality shouldnt compromise our goal of exceptional patient care. Nor should it consume all of our resources. Logistics and data should support and amplify wellness efforts, not hinder it. Ultimately, if healthcare leaders are open to creating new innovative systems that streamline intensive processes and alleviate pressure, we can benefit the health giver, the patient, and the institution, with greater impact and more effective results on our healthcare journey.

Byline by Harel Tayeb, CEO, Kryon

Excerpt from:

Kryon says automation is vital for the healthcare sector - Healthcare Global - Healthcare News, Magazine and Website

Addverb's Multi-Pro is a shuttle-based ASRS system designed for multi-deep pallet storing. [Photo: Addverb]

One of Indias largest robotics firms is setting up shop in North Texas.

Marking its expansion into the North and South American markets, warehouse and factory automation startup Addverb Technologies announced plans to set up corporate offices in Texas, which its website lists as located in Friscos Hall Park development at 3010 Gaylord Pkwy.

The supply chain disruptions caused by the pandemic have accelerated the demand for automation globally and we are looking forward to expandingto deliver the next generation of Industry 4.0 automation to the customers, said Sangeet Kumar, co-founder and CEO of Addverb Technologies, in a statement.

Zippy, Addverbs ultra-fast sorting robot. [Photo: Addverb]

Addverb did not respond to questions about what operations or how many employees will be located at the Frisco offices before publication. However, it said that it has tapped Mark Messina, former co-founder and CTO of autonomous drone delivery company DroneTerminus, as the CEO of its U.S. subsidiary. Addverb also named Luke Lee as its marketing head of Americas. He previously held a similar role at warehouse automation solutions company HAI Robotics.

In addition to its offices in Frisco, Addverb is also planning an experience center in San Diego. The companys expansion to North and South America follows entrances into Australia, Singapore, and Europe last year.

The companys expansion is being fueled by a $132 million Series B funding round led by Retail Reliance Ventures that it landed earlier this year, giving the subsidiary of Indias Reliance Industries Limited a 54% stake in Addverb. According to The Robot Report, that brought the companys total raise to around $143 million, giving it a valuation of about $265 million.

Launched in 2016, Addverb provides autonomous robots that handle tasks like carton shuttles and picking technology and are integrated with management software to create an end-to-end automation and logistics solution for warehouse and factory operations. The company counts names like Reliance, Coca-Cola, and Johnson & Johnson among its list of more than 100 customers.

Addverbs headquarters are located in Noida, India, where the company also operates R&D facilities, as well as a manufacturing facility that it says is able to produce around 10,000 robots per year. Per The Robot Report, about 80% of Addverbs revenue currently comes from the Indian market.

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The hybrid event in August will take place in person at SMU and virtually. The seventh annual Dallas Startup Week powered by Capital One is Dallas-Fort Worth's largest event focused on driving entrepreneurial success, economic impact, and innovation in the region.

To prevent suicides, hunger, and learning issues, Rhithm's emojified bio-social assessments app lets kids say how they feel.

"Its just cool that a Texas-based AI and robotics company can help a Texas-based burrito company expand in ways we could only imagine just a few years ago," says Alex Eagle, Chief Executive Officer for Freebirds World Burrito.

Rootines helps the neurodiverse community by tracking their daily moods and routines. Developed initially for those on the autism spectrum, the app will soon support patients with other conditions like ADHD and bi-polar disorder. The $1 million angel investment was provided by Pittsburgh-based Determined Capital.

22-year-old ARKH CEO Landon Nickersonwho earned millions as a YouTube gamerwill now exclusively sell Litho's controllers under his ARKH brand, which has raised $5.7 million in funding to date.

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Fueled by a $132M Series B Raise, Indian Automation Startup Expands to North America with Frisco Offices Dallas Innovates - dallasinnovates.com

BANGOR, Maine--(BUSINESS WIRE)--titleLOOK by Mainspring Services has integrated new features to enhance the platforms marketing automation offerings. titleLOOK automatically hyperlinks supporting documents into title commitments and other title documents, and creates a LOOK view to deliver title reports digitally. The LOOK view is branded for titleLOOK customers and web-optimized to look great on any device. The new marketing automation features add customization options into the LOOK view and enhance the way users share, follow and interact with digital title reports.

Included in the new marketing automation features is an advertising feature. More than a million unique LOOK views are created annually, and they are linked in title reports and shared by email, creating a large and segmented audience of realtors and home buyers. The advertising suite includes in-platform space, interstitial modals, as well as flexible options in the share and follow emails. titleLOOK also offers in-platform video and the opportunity for customers to embed their own resources; examples include wire fraud warnings, helpful tips and explainers, forms and closing checklists. Custom buttons are also available, including social media links and a widget that integrates with complementary industry solutions like Feedback Automatic, powered by TitleTap, to automate customer feedback surveys and share positive reviews.

As a SaaS (Software as a Service) solution, were always looking to bring to market options that make our customers look good and, most importantly, provide automated tools to drive their business objectives, said Matt Johnson, director of product strategy for Mainspring Services. These new features derive from our own market research, but also from listening to our customers feedback. titleLOOK has always been a game changer from a sales and marketing standpoint in the way it delivers title digitally, but these new features really take it to the next level. Our development team has worked hard to make this possible and we are elated to immediately offer these features to our customers, Johnson concluded.

Advertising opportunities are immediately available to groups looking to reach realtors, new home buyers, and even title companies and lenders. The titleLOOK team invites prospective customers and advertisers to learn more with a personal demo by visiting titleLOOK.com/contact-us.

titleLOOK

titleLOOK is a Software-as-a-Service (SaaS) offering that provides tremendous time savings in the title production process and creates a new web-based standard for commitments and preliminary reports. titleLOOK automates hyperlinking to the title search documents, summarizes title exceptions, alerts users to clearance tasks and grades, and publishes to a responsive web format that looks great on any device.titlelook.com

Mainspring Services

Mainspring Services was organized in 2016 and prides itself on innovating from a deep understanding of the title and escrow industry. We are the creators of titleLOOK, a SaaS offering that presents the first truly digital format for title commitments and preliminary title reports.mainspringservices.com

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titleLOOK Adds Marketing Automation to Digital Title Platform - Business Wire

The oil and gas automation market in Latin America is fragmented, and the degree of fragmentationwill accelerateduring the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Automation Market in Latin America 2022-2026: Scope

The report also covers the following areas:

Automation Market in Latin America 2022-2026: Segmentation

By product, the oil and gas automation market in Latin America has been segmented into SCADA, DCS, PLC, and MES. The SCADA segment will have significant market share growth during the forecast period. SCADA systems play a crucial role in ensuring the safety and security of personnel involved in the upstream process of the oil and gas industry. They provide real-time information to decision-makers located away from the oil fields.

By geography, the oil and gas automation market in Latin America has been segmented into Brazil, Mexico, Argentina, and Rest Of Latin America. Brazil will have the highest market share growth during the forecast period.

Read our Market Sample Report Nowto find out the contribution of each segment of the oil and gas automation market in Latin America

Oil and Gas Automation Market in Latin America 2022-2026: Vendor Analysis

To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Some of the major vendors of the oil and gas automation market in Latin America include ABB Ltd., Andritz AG, Emerson Electric Co., FURUKAWA Co. Ltd., General Electric Co., Honeywell International Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Wipro Ltd. The key offerings of some of these vendors are mentioned below:

Get lifetime access to our Technavio Insights. Subscribe now to our most popular "Lite Plan" billed annually at USD 3000. View 3 reports monthly and Download 3 Reports Annually!

Oil and Gas Automation Market in Latin America 2022-2026: Parent Market Analysis

Technavio has categorized the oil and gas automation market in Latin America as a part of the global industrial machinery market. This report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the oil and gas automation market in Latin America during the forecast period.

Oil and Gas Automation Market in Latin America 2022-2026: Key Highlights

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Oil And Gas Automation Market In Latin America Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.66%

Market growth 2022-2026

USD 179.76 million

Market structure

Fragmented

YoY growth (%)

3.07

Regional analysis

Brazil, Mexico, Argentina, and Rest of Latin America

Performing market contribution

Brazil at 33%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Andritz AG, Emerson Electric Co., FURUKAWA Co. Ltd., General Electric Co., Honeywell International Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Wipro Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

For more valuable insights,Download Latest Free Sample Report

Table of Contents

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Product

Customer landscape

Geographic Landscape

Vendor Landscape

Vendor Analysis

Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [emailprotected]Website: http://www.technavio.com/

SOURCE Technavio

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USD 179.76 mn growth in Oil and Gas Automation Market in Latin America | Technavio - PRNewswire

ReportLinker

Global Digital Process Automation Market 2022-2026 The analyst has been monitoring the digital process automation market and it is poised to grow by $ 8. 08 bn during 2022-2026, progressing at a CAGR of 15.

New York, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Digital Process Automation Market 2022-2026" - https://www.reportlinker.com/p06229615/?utm_source=GNW 46% during the forecast period. Our report on the digital process automation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the adoption of business process management and rising demand for automation in enterprises. In addition, adoption of business process management is anticipated to boost the growth of the market as well.The digital process automation market analysis includes the deployment segment and geographic landscape.

The digital process automation market is segmented as below:By Deployment On-premises Cloud

By Geographical Landscape North America Europe APAC MEA South America

This study identifies the low cost of digital process automation platformas one of the prime reasons driving the digital process automation market growth during the next few years.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on digital process automation market covers the following areas: Digital process automation market sizing Digital process automation market forecast Digital process automation market industry analysis

This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital process automation market vendors that include Appian Corp., Bizagi Group Ltd., BP Logix Inc., Infosys Ltd., Innov8tif Solutions Sdn Bhd, International Business Machines Corp., Newgen Software Technologies Ltd., Open Text Corp., Oracle Corp., and Pegasystems Inc. Also, the digital process automation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavios market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.Read the full report: https://www.reportlinker.com/p06229615/?utm_source=GNW

About ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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The Global Digital Process Automation Market is expected to grow by $ 8.08 bn during 2022-2026, progressing at a CAGR of 15.46% during the forecast...

The other day, I got an email asking me to participate in a survey regarding robots in hotels. Basically, the people behind the study wanted to gauge how comfortable respondents were about letting robots and AI systems take care of different aspects of their stay.

Would they be happy to check in without ever speaking to a human? What about having a robot clean their rooms?

The reason this survey stuck with me is that it posited the possibility that hotels would be staffed by robots in the near future. I wondered if it would be people coming to stay in hotels who would delay this from happening due to technophobia. This is in spite of the fact that mechanisation itself is not fully automated in many industries.

In particular, the car manufacturing industry is still not fully automated. This has nothing to do with the comfort levels of technophobic customers, but because automating certain aspects of the process is still impossible for most manufacturers.

Is this something that will ever happen? If so, how far away are we from that date?

The Assembly Line

Today, the automotive industry relies heavily on the traditional assembly line. While the manufacturing of the parts as well as much of the construction of the bodywork is automated, there still needs to be a significant human presence to complete the job, especially when it comes to the trimmings.

This is surprising to most people in 2022, but perhaps it shouldnt be. The automotive industry is currently in a state of flux. Vehicles run on fossil fuels still dominate the world, but manufacturers are looking to electrical cars as the vehicles of the future. Hybrid cars are also a possible candidate. In the coming years, we will learn a lot about how our roads will soon look.

In this context, why should manufacturers build expensive robots that can automate the construction of traditional or hybrid cars? At the same time, pivoting to electrical vehicles is not yet possible for most companies. Those that have already done so understand that the vehicles they are making now may look very different to those they are making five years from now.

There are certainly companies coming close to full automation, but they are the exception and it may not even be to their benefit.

All of this begs a question that is ever present when discussing robotics: would full automation benefit the industry?

Automation: The Pros and Cons

The first matter to get out of the way is the question of jobs. Yes, it is a factor in this conversation, but it is present in every conversation about robotics and has been for hundreds of years. It is a fundamental question, but cannot be brought up every single time.

The more pertinent question is where money is better spent. Human capital is expensive, but so are robotics, especially those designed for one purpose. If a car company has a strong understanding of the future of their business for the next ten years, it may be worthwhile to spend that money.

But it can be argued that the manufacturers set to bring the industry forward are those that are letting the technology and its potential lead them. Those companies may surpass their own expectations over and over again, and investing in the robotics for each iteration of their product may feel like something that would hold them back.

Then there is the matter of the customers. A lack of automation does impact customers negatively. Just look at how much more expensive it is to insure electric cars. This is because repairs require specialized work, with parts that will remain expensive if automation is not advanced.

In other words, while car manufacturers can be in a state of perpetual flux for the sake of their products, their customers need stability. Most individuals who are not involved in the automotive industry (and are not interested in robotics) would gladly choose whichever option provided cheaper vehicles that do not cost an arm and a leg to repair.

Ultimately, the question of whether car manufacturing will ever be fully automated is difficult to answer on a number of levels. It seems like complete automation is a possibility, but whether companies will take that route is yet to be seen.

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Will Car Manufacturing Ever Be Fully Automated? - Robotics and Automation News

When we talk about digital transformation in the non-profit sector, we focus on the use of information, data and automated processes to allow that transformation to happen.

Data and metrics in the non-profit sector are key indicators of mission success. Any improvements or gains that can be created by leveraging technology for greater efficiency and visibility results in more money for the non-profit to deliver on its mission.

The Non-Profit Finance Leaders Survey, an annual survey conducted by Sage Intacct, found that 64 per cent of respondents cited manual, time-consuming reporting as their greatest pain point, with 45 per cent spending more than 25 hours a month using Excel spreadsheets.

Lack of real-time visibility into key outcome and performance metrics was the second greatest pain point reported by respondents (57 per cent), resulting in delayed decision-making and missed opportunities.

The third greatest pain point, cited by 57 per cent of respondents, was inefficiencies due to multiple, disconnected systems, resulting in delayed reporting and painful growth.

Being able to easily integrate and connect multiple systems is a powerful tool in moving toward a paperless environment and, ultimately, mission success.

If finance leaders want to become data-driven and paperless, there are three technology features they need.

Manual tasks such as consolidations, currency conversions, billing, allocations and vendor payment approval are very time-consuming. When non-profits automate these processes, they achieve increased efficiency and visibility across the organisation by integrating systems. They also gain visibility for proactive decision-making through quick, real-time reporting as well as achieving a better work/life balance.

One non-profit that automated its financial operations reported an 80 per cent increase in efficiency and saved over 400,000 a year in operating costs. This saving resulted in greater mission success and greater impact in the community.

Using technology and the right architecture can help speed up reporting. This means marrying up statistical information with financial data and having those metrics be able to tell us, at a glance, where the organisation is and how its doing.

Dimensions is a tool by Sage Intacct that allows users to visualise and find all the information they need, providing instant answers. It helps them to define, track and slice and dice their data using all the different attributes that are important to their organisation.

Being able to integrate systems, with a real-time view, gives you greater leverage. Having data all in one place gives non-profits a fuller picture of their performance, which leads to better long-term planning.

According to the Time to go Paperless report by the Journal of Accountancy, its estimated that every dollar invested in going paperless will generate a return of as much as $30.

The obvious benefits of going paperless are that it improves operational efficiency, improves document organisation and allows for multi-user access and even remote access for auditors.

Improving internal efficiencies, closing the month faster and freeing up resources for more strategic opportunities is a huge win. However, the bigger benefit is real-time information for programme success and money saved that can move to the programme side of the organisation, allowing non-profits to be better stewards of their finances and delivering greater mission impact.

Originally posted here:

How to drive non-profit financial efficiency with paperless automation - Third Sector