impact of cybersecurity, data analytics …...18. wombat security technologies, the state of the...

IMPACT OF CYBERSECURITY, DATA ANALYTICS AND ROBOTICS

PROCESS AUTOMATION ON THE CA PROFESSION

CA SAURABH GOENKA

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwiP5qzBtZvjAhUUT30KHaE0ANoQjRx6BAgBEAU&url=https%3A%2F%2Fwww.aptanalytic.com%2F%3Fpage_id%3D686&psig=AOvVaw0ElymScLcsWCxP7cioqDsc&ust=1562334982788272

The World is Changing. Intelligence is Leading that change.

Understanding RPA, Analytics and Cybersecurity and it’s impact

on businesses and functions

Questions and Answers

What does this mean for the CA profession? What can I do to

embrace this technology?

A sneak peek into the key Digital Technologies enabling Digital

Transformation

Understanding Industry 4.0 and the Digital Transformation wave1

2

3

4

5

1 2 3 4 5Understanding Industry 4.0 and the Digital

Transformation wave

1 2 3 4 5Understanding Industry 4.0 and the Digital

Transformation wave

Industry 1.0 – 4.0 journey credits : CGIIndustry 4.0 Framework credits : PwC

1 3 4 5A sneak peek into the key Digital Technologies

enabling Digital Transformation2

1 3 4 5A sneak peek into the key Digital Technologies

enabling Digital Transformation2

ADVANCED ANALYTICS

AI AND MACHINE LEARNING

ROBOTICS PROCESS AUTOMATION (RPA) CLOUD AND MOBILITY

CYBERSECURITY BLOCKCHAIN

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwjL0fuPtJvjAhVJQH0KHUWwDNwQjRx6BAgBEAU&url=%2Furl%3Fsa%3Di%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dimages%26cd%3D%26ved%3D%26url%3Dhttps%253A%252F%252Fgiphy.com%252Fexplore%252Fanalytics%26psig%3DAOvVaw3JJdbtikeBpJIz2oOXkju7%26ust%3D1562334587444494&psig=AOvVaw3JJdbtikeBpJIz2oOXkju7&ust=1562334587444494

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwi6hff7tJvjAhWCXCsKHS7kDxsQjRx6BAgBEAU&url=https%3A%2F%2Fgiphy.com%2Fexplore%2Fmachine-learning&psig=AOvVaw3se1-A4MdB0Yt5O7bhYjqs&ust=1562334780907642

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwjwhoeZtpvjAhUQQH0KHcZJB20QjRx6BAgBEAU&url=http%3A%2F%2Fwww.sennac.com%2Fuipath&psig=AOvVaw0ElymScLcsWCxP7cioqDsc&ust=1562334982788272

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwieg6jgtpvjAhUPfH0KHcifCZYQjRx6BAgBEAU&url=https%3A%2F%2Fgfycat.com%2Fdevotedethicalflyingfox&psig=AOvVaw0EJJg2x8qc7oIPyC9ke7ur&ust=1562335293138971

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwjD6L_Rt5vjAhWu73MBHUAYCA8QjRx6BAgBEAU&url=https%3A%2F%2Fwww.realdolmen.com%2Fnl%2Fblog%2Fblockchain-branches-of-truth&psig=AOvVaw2kV1Xniu-HRIUTDHW5vQ6S&ust=1562335500104201

1 3 4 5Understanding RPA, Analytics and Cybersecurity and

it’s impact on businesses and functions2

RPA Analytics Cybersecurity




‘Robotic Process Automation’, is the use of software to ‘mimic’ the actions a human userwould perform on a PC at scale to Automate Business Processes.

It is a concept that leverages virtual software robots (Bots) to emulate human interaction with systems to automate existing user actions.

Bots work at a desktop UI level and can traverse through applications just as a real human user would.

Just as industrial robots are remaking the manufacturing industry by creating higher production rates and improved quality, RPA “robots” are revolutionizing the way we think about and administer business processes.




RPA uses software to execute

business processes in a

repetitive, audited and controlled

manner

It orchestrates existing

applications for transaction

processing, data manipulation &

response triggering

It does all of this with very limited

human participation

• Simple Decisions

• Repetitive tasks

• Policies & Procedures

Ro

bo

t• Empathy & Judgement

• Tribal Knowledge

• Cognitive Ability

• Analysis

Hu

man




THE BENEFITS OF RPA




#10. KryonRPA product with built-in process discovery OCR, and operational analytics

#9. KofaxExtendable RPA platform that connects into Kofax’s BPM and OCR solutions

#8. Workfusion Pioneer of the AI-powered RPA solution

#7. Antworks Emerging and innovative RPA product with strong cognitive capabilities

#6. NICE The RPA front-office specialist

#5. Pega Systems Powerful combination of RPA and Business Process Management (BPM) capabilities

#4. Thoughtonomy Automation platform that goes beyond RPA with an innovative product roadmap

#1. Automation Anywhere

#2. Blue Prism

#3. UiPath

Top 3 leading RPA products with higher than industry average CX ratings on most dimensions

Voice of the customerInnovation capabilityExecution success

Types of RPA Tools – Top 10 RPA Tools of 2019




What is the most valuable asset in the

world today?Question




Data Science

Big DataData

Analytics

Big Data Analytics




The MindMap Analytics driven transformation Pyramid Framework

Pinnacle

Integration of Analytics with

IOT, RPA and Blockchain

Expand with advanced analytics by

building ML/AI algorithms and integrating

visualization and BI

Get started with fundamental data extraction and reporting,

followed by Core analytics – Descriptive and Predictive Analytics

Build a strong foundation with efficient data management, data governance,

data warehousing, data quality and data modelling practices.

Data

Management

Analytics,

Reporting

Visualization

and BI

Automation,

IOT,

Blockchain

and AI




Remember data is the new oil?

Nobody wants to steal your house anymore.

They want to steal you data instead.




Global Cybersecurity Spend




• Impact: Costly regulatory inquiries and penalties, consumer and shareholder lawsuits, loss of consumer confidence

• Motivation: Financial gain

• 2019 Outlook: Cyber-extortion will continue to rise

• Impact: Competitive advantage, trade secret disclosure, operational disruption, brand and reputation

• Motivation: Personal advantage, monetary gain, professional revenge, patriotism

• 2019 Outlook: More organizations will implement insider threat mitigation programs and processes

• Impact: Disruption of business activities, brand and reputation, loss of consumer confidence

• Motivation: Negatively impact reputation, drive attention to a cause, pressure for change

• 2019 Outlook: Expected to escalate attack methods with high-profile data breaches

• Impact: loss of competitive advantage, disruption to critical infrastructure

• Motivation: Economic, political, and/or military advantage

• 2019 Outlook: Will continue to strengthen their defensive and offensive cyber skills




Cyber Threat Landscape

• Cybersecurity events and costs are increasing:

– 79% of survey respondents detected a security incident in the past 12 months1

– Average total cost of a data breach increased 23% over the past two years2

– Average cost paid for each lost / stolen record increased 6%1

Industry Outlook

• Data breaches are expected to reach $2.1 trillion globally by 20193

• 76% of survey respondents1 were more concerned about cybersecurity threats than in previous 12 months:

Reputational Risk

• An IT security breach can have serious implications in how a company is perceived:

– 46% of companies suffered damage to reputation & brand value due to a security breach4

– 19% of companies suffered damage to reputation & brand value due to a third-party security breach

or IT system failure4

• The risk of losing customer trust is significant and rising:

– 82% of customers would consider leaving an institution that suffered a data breach5

Source: 1U.S. State of Cybercrime Survey, 2Ponemon Institute, 3Juniper Research , 4Forbes




Email Account Takeover1

Malware2

Phishing3

Credential Replay4

Social Engineering5

Call Forwarding6

Spoofing7

Common Cyber Threats

1 3 4 5What does this mean for the CA profession? What

can I do to embrace this technology?2

Source : Crunch Time – Future of Finance in a Digital World, Deloitte



PROFESSION 1.0 PROFESSION 2.0

CA FIRMS AND CAs IN

PRACTICE

CORPORATE FINANCE

• Tax Filing Services• Traditional Audit and Assurance• MIS and reporting• Traditional transaction advisory• Engagement on demand• Local presence

• Tax Filing Automation• AI and Analytics enabled audit• Advanced Analytics and visualization• Decision impact forecasting• Analytics driven demand generation• Digital presence

• Finance as a support function• Responds to business needs• Manual push based reporting• Manual controllership function• Traditional internal audit• Descriptive reporting

• Finance integrated with business• Forecasts business outcomes• Cloud based automated reporting• RPA driven controllership• AI and RPA driven internal audit• Predictive Analytics



TRAIN YOURSELF AND BUILD CAPABILITY STRATEGIZE YOUR FIRST DIGITAL PROJECT

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwjqgY6m8pvjAhWu8HMBHW_7DfAQjRx6BAgBEAU&url=http%3A%2F%2Fwww.fubiz.net%2F2016%2F10%2F07%2Ftraining-keys-gifs-project%2F&psig=AOvVaw2FRxajTJ1IsSeSqreq4f9X&ust=1562351288123370

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwjfuLDX8pvjAhWO7HMBHfX4CwcQjRx6BAgBEAU&url=https%3A%2F%2Fdribbble.com%2Fshots%2F3374811-GogoApps-Process-Storyboard&psig=AOvVaw2m0dH0_u1fxMbasCoIrvKy&ust=1562351404804908



CASH IN ON INDUSTRY 4.0EMBRACE TECHNOLOGY

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwjzvPm_8ZvjAhVK6nMBHS5RDwIQjRx6BAgBEAU&url=https%3A%2F%2Fwww.thefunsizedlife.com%2Fhealthy-money-mindset%2F&psig=AOvVaw361V6a176bBfi5MUCdXRR3&ust=1562351012921383

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwi82-KB85vjAhWG73MBHafOAgEQjRx6BAgBEAU&url=https%3A%2F%2Fimgur.com%2Fgallery%2F3fAd0w8&psig=AOvVaw3ddGSWaKr7i9yJAwMVnf7r&ust=1562351487377382

1 3 4 5 REFERENCES AND ACKNOWLEDGMENTS2

1. Sophia video by Hanson Robotics and The Jakarta Post2. Industry 1.0 – 4.0 journey credits : CGI3. Industry 4.0 Framework credits : PwC4. Google Assistant video by Alphabet Inc. / Google5. 2018 CFO survey report by Grant Thornton6. RPA use case video and F&A Heatmap by UiPath7. Top 10 RPA Tools by HFS Research8. Tax automation video by Deloitte Netherlands9. Saurabh Goenka and MindMap Consulting for Analytics pyramid and F&A Transformation Use cases10. YouTube and the producers of the movie The Accountant11. Danish Police research12. Gartner research for research on cybersecurity spend13. US State of Cybersecurity Crime14. Report titled Crunch Time – Future of Finance in a Digital World, Deloitte15. Survey report by IT Governance UK16. NTT Group global threat intelligence report17. Verizon, 2016 data breach investigation report18. Wombat security Technologies, the state of the Phish 201719. Osterman Research on Ransomware20. Cisco, The Shadow IT Dilemma21. CBS News and YouTube for Cybersecurity interview video22. Kuka Robotics and YouTube for Kuka Video

1 3 4 5 QUESTIONS AND ANSWERS2

CA SAURABH GOENKA

[email protected]

www.linkedin.com/in/saurabhgoenka

mailto:[email protected]

impact of cybersecurity, data analytics …...18. wombat security technologies, the state of the...

Documents