Periodic Reporting for period 1 - AUTTO (Unlocking intelligent workflow automation for the SME market through AUTTO, an AI powered micro-automation SaaS Platform)
Reporting period: 2017-12-01 to 2018-05-31
ABS Technology Limited (ABS) are an award-winning technology start-up based in London and set to revolutionise the way in which the professional service industry works according to Legal Geek who hailed them in the top 10 legal tech companies in 2016 (https://www.legalgeek.co/startup-map(opens in new window)). Founder and CEO, Ian Gosling, has 20+ years of experience directing projects in Product Development, Business Model Development and Business Planning and is supported by a highly-qualified management team of legal, technical and business growth experts.
ABS was funded under SME Phase 1 to explore a solution that improves workflow efficiency through a Micro-Automation Platform (“AUTTO”). AUTTO is a disruptive software toolkit that addresses the true needs of SME legal, professional and regulated services by facilitating the automation of many short, low volume, repetitive processes that form 23% of legal work (40% across other professional services). Automation is a phenomenon that is driving business disruption globally, however is currently only accessible in the services sector to large enterprises. AUTTO dramatically reduces the barriers for adoption of automation for SME firms: It is significantly cheaper to licence, removes the cost of tech development and therefore makes automation possible at a viable cost in both time and money, with an expected payback period of less than one year for SMEs. Further, it will unlock increased productivity of skilled professionals who can turn their attention to higher-value activities instead, creating economic growth in the sector and ultimately making legal services more efficient, accessible and affordable.
ABS was funded under SME Phase 1 to explore a solution that improves workflow efficiency through a Micro-Automation Platform (“AUTTO”). AUTTO is a disruptive software toolkit that addresses the true needs of SME legal, professional and regulated services by facilitating the automation of many short, low volume, repetitive processes that form 23% of legal work (40% across other professional services). Automation is a phenomenon that is driving business disruption globally, however is currently only accessible in the services sector to large enterprises. AUTTO dramatically reduces the barriers for adoption of automation for SME firms: It is significantly cheaper to licence, removes the cost of tech development and therefore makes automation possible at a viable cost in both time and money, with an expected payback period of less than one year for SMEs. Further, it will unlock increased productivity of skilled professionals who can turn their attention to higher-value activities instead, creating economic growth in the sector and ultimately making legal services more efficient, accessible and affordable.
The objectives of this Phase 1 report are to 1) Assess technical requirements, 2) Finalise development and commercial partners, 3) Undertake a user acceptance study, 4) Assess IP and regulatory requirements, 5) Finalise the commercialisation strategy, and 6) Update the project risk register. The team at ABS now have a complete understanding of the next steps to producing a full prototype, how to scale deployment and overcome barriers to adoption. The IP, regulatory environment and project risks are fully fleshed out.
ABS is continuing with development of a full prototype based on the results of the project and applying for further funding.
ABS is continuing with development of a full prototype based on the results of the project and applying for further funding.
1. AUTTO overcomes the time and cost-intensive nature of the Manual Process by achieving commercial viability of short, niche workflow process automation, which in turn unlocks a more efficient, standardised, trackable and accessible approach to business operations.
2. AUTTO overcomes the inaccessibility of Enterprise software solutions for SMEs by dramatically reducing the cost of purchase (dynamic subscription model instead of expensive licence) and cost of development to create automated processes (no need for software coding).
3. AUTTO further neutralises the shortcomings of general cloud-based management solutions by offering easy integration with other systems through its API and using AI technology for bespoke automation capabilities.
Automation is a phenomenon that is driving business disruption globally. However, a practical and bespoke service capable of meeting the needs of regulated industries is currently only accessible by large enterprises. AUTTO dramatically reduces the cost barriers of automation for professional services SMEs by offering a significantly cheaper alternative to ERP licences and removing the costs of technical development. Combined this makes automation possible at a viable cost in both time and money, with an expected payback period of less < 1-year.
There is a growing problem of people not accessing legal advice (<30% of people with a legal problem see a lawyer [Law Society, 2016]). Through workflow automation lawyers could free 23% of their time (~60 days) [McKinsey, 2017] reducing costs. Furthermore, automation offers significant help for self-help workflows for individuals, increasing access to law.
The cloud-based nature of AUTTO reduces energy consumption by a net 30% compared with using an internal infrastructure [Green Geek, 2015]. For an office of 50 computers this equates to a reduction of 14.4kW per working day [ENTRA, 2014], and a carbon equivalent of 7.8kgCO2 [DECC, 2012] (2.04tCO2/year).
Strategic Contribution to EU/Global Challenges: This innovation is part of a wider global development of increasing integration of ICT innovation in all aspects of our societies and economies; it contributes towards advances in the competitiveness of the private sector (mainly SMEs), the advancement of security in the international ICT space, positively transforming societies / economies / behaviours and the way people live.
The development of AUTTO aligns with The Entrepreneurship 2020 Action Plan and the aim of 'removing existing barriers' that will drive the EU economy by making professional services (and in particular legal services) more efficient, competitive and accessible. AUTTO also contributes to the Digital Single Market Strategy as a digital driver for growth, catalysing the transition of SME professional services organisations into the digital world.
2. AUTTO overcomes the inaccessibility of Enterprise software solutions for SMEs by dramatically reducing the cost of purchase (dynamic subscription model instead of expensive licence) and cost of development to create automated processes (no need for software coding).
3. AUTTO further neutralises the shortcomings of general cloud-based management solutions by offering easy integration with other systems through its API and using AI technology for bespoke automation capabilities.
Automation is a phenomenon that is driving business disruption globally. However, a practical and bespoke service capable of meeting the needs of regulated industries is currently only accessible by large enterprises. AUTTO dramatically reduces the cost barriers of automation for professional services SMEs by offering a significantly cheaper alternative to ERP licences and removing the costs of technical development. Combined this makes automation possible at a viable cost in both time and money, with an expected payback period of less < 1-year.
There is a growing problem of people not accessing legal advice (<30% of people with a legal problem see a lawyer [Law Society, 2016]). Through workflow automation lawyers could free 23% of their time (~60 days) [McKinsey, 2017] reducing costs. Furthermore, automation offers significant help for self-help workflows for individuals, increasing access to law.
The cloud-based nature of AUTTO reduces energy consumption by a net 30% compared with using an internal infrastructure [Green Geek, 2015]. For an office of 50 computers this equates to a reduction of 14.4kW per working day [ENTRA, 2014], and a carbon equivalent of 7.8kgCO2 [DECC, 2012] (2.04tCO2/year).
Strategic Contribution to EU/Global Challenges: This innovation is part of a wider global development of increasing integration of ICT innovation in all aspects of our societies and economies; it contributes towards advances in the competitiveness of the private sector (mainly SMEs), the advancement of security in the international ICT space, positively transforming societies / economies / behaviours and the way people live.
The development of AUTTO aligns with The Entrepreneurship 2020 Action Plan and the aim of 'removing existing barriers' that will drive the EU economy by making professional services (and in particular legal services) more efficient, competitive and accessible. AUTTO also contributes to the Digital Single Market Strategy as a digital driver for growth, catalysing the transition of SME professional services organisations into the digital world.