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UFS launches groundbreaking RPA challenge on innovating with power automation

29 October 2024 | Story Jacky Tshokwe | Photo Supplied

RAiN Automate Innovate Challenge 2024 — The University of the Free State accounting students rise to the challenge in the RAiN Automate to Innovate Challenge.

The School of Accountancy at the University of the Free State (UFS) is leading a forward-thinking initiative by introducing the RAiN Automate to Innovate Challenge in 2024. This marks the first time that the UFS has run this challenge, and it is already making waves in the accounting education landscape. As one the few Accountancy department in South Africa to host such an event, the UFS is paving the way for technological integration in the academic world, setting the stage for future inter-university competitions.

The RAiN Automate to Innovate Challenge invited second-year BAcc students enrolled in the EIDE2724 module to participate in groups of three to four. Their task was to identify and solve a real-world problem related to either students or business by developing a robotic process automation (RPA) bot using Power Automate.

The challenge followed an exploratory learning approach, empowering students to dive into the world of automation with minimal formal lecturing. This approach develops students’ creativity and problem-solving skills. The students worked hard to master Power Automate and applied their knowledge to build automation bots that successfully solved business and student life problems.

Presentations and the final showdown

After presenting their bots on 10, 11, and 14 October, the top six groups were announced in class, eagerly awaiting the grand finale. The final round took place on 18 October from 12:00 to 14:00, where the top six groups competed head-to-head.

A distinguished panel of judges, consisting of three judges from RAiN Auditors and three from the UFS, evaluated the bots based on creativity, functionality, and potential impact. By the end of the event, the winning groups were announced, and the following prizes were awarded:

First place: R1 500 each
Second place: R1 200 each
Third place: R1 000 each

The prizes were generously sponsored by RAiN Auditors, showcasing their commitment to fostering innovation in education.

Looking ahead

As the first South African university to run this type of challenge, the UFS aims to inspire other institutions across the country to follow suit. The School of Accountancy is eager to expand this competition, with the hope of challenging other universities in 2025 and beyond, creating a platform for students to showcase their technical skills and business acumen in the rapidly evolving field of accounting.

Stay tuned for the impact and future growth of the RAiN Automate to Innovate Challenge, where we continue to push boundaries and prepare the next generation of accountants to excel in a digital world.

For more insight into the competition, check out the video recap [here](insert Vimeo link). Be sure to explore the image gallery, showcasing the incredible work and teamwork of our students.

Check out the video here for more details.

News Archive

Academic addresses financial planning leaders at world summit

2010-05-04

Adv. Wessel Oosthuizen, Director of the Centre for Financial Planning Law at the University of the Free State (UFS), addressing financial leaders at the World Financial Planning Summit.

Adv. Wessel Oosthuizen, Director of the Centre for Financial Planning Law at the University of the Free State (UFS), is chair to four Financial Planning Standards Board (FPSB) expert panels that guide the global Certified Financial Planning (CFP) certification programme. At the recent World Financial Planning Summit, held in Taipei in China, he challenged a group of global financial planning leaders to support the formation of a global financial planning body of knowledge with sustainable career-path development opportunities.

He said: “For financial planning to be recognised as a distinct professional practice and a global profession, the financial planning community must establish a universal body of knowledge that is supported by applicable in-depth research.

“We need to establish how professional bodies should collaborate with academia to integrate a more competency-based education and training environment that combines theory with practice. Fostering and promoting comprehensive research in financial planning topics is another key challenge that must be addressed in order to develop a tertiary knowledge framework for the financial planning profession.”

Adv. Oosthuizen, who is playing a big role in providing consistent and rigorous education and assessment tools for financial planning in 2010, said that a bachelor’s degree should be a compulsory minimum requirement for practising financial planners.

About the learning curve between the academic and work environments in the financial planning profession, Adv. Oosthuizen said: “Implementing a career-path model that supports a more structured approach to apprenticeships and supervised practice would complement a specialised financial planning body of knowledge and provide entrants to the profession with the necessary theoretical knowledge and practical experience to offer competent and ethical financial planning.”

The World Financial Planning Summit engaged global leaders of more than 17 financial planning standards-setting bodies, as well as regulators, financial planning educators and other invited guests in a dialogue about the steps needed to gain recognition for financial planning as a distinct, global profession.

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