Digital Transformation, Intelligent Automation
Intelligent automation can be a powerful tool for driving digital transformation by enabling businesses to automate manual and repetitive tasks,
freeing up valuable time and resources that can be redirected towards more strategic initiatives.
In our consumer lives, digital transformation in the form of devices, gadgets and tools have transformed the way we consume goods. They’ve (sometimes) made our day to day living easier, more streamlined, and faster. We want our Amazon purchases in one click, we want Siri to find us a restaurant, and we want our Banks to tell us our balance without the trouble of having a drawn-out conversation with a human.
As business leaders, the need for digital transformation is top of the agenda and often part of broader business transformation initiatives. By strategically integrating digital technology across function and departments revolutionizes how a business operates, delivers value to customers and achieves its long-term goals.
Intelligent automation (IA) is a collection of agile and smart technologies that augment human work and empower us to make better business decisions.
By implementing technology solutions such as robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), low code and more, research has shown that 95% of organizations have improved their productivity.
The benefits of IA in the workplace include increased process efficiency, improved customer satisfaction, optimized back-office operations, reduced costs and risk, more productivity, and more innovation. But all of this sounds like pie in the sky until we understand what and where IA can be used. We want to see the rubber hit the road before we make an investment decision, not after.
Below we have explored the top four use cases and quick wins that can be successfully attained within four weeks with intelligent automation. All businesses with digital capabilities are familiar with these challenges and many are turning to IA to solve them quickly and efficiently.
Inefficient document processing is a lingering pain point for businesses and a daily headache for employees. From disorganized, unmanaged and missing documents to duplicates, the hidden costs of ineffective and inefficient document processing can easily and quickly ripple through an organization.
However, by harnessing the power of IA, Intelligent Document Processing applications enable both structured and unstructured documents to be processed with high accuracy rates, opening the door for automation of complex workflows and increased visibility on ‘dark data’.
Customer complaints are nothing new, but until now they have constituted a laborious and costly (both in time and money) business function. Dealing with other humans is complex, which means lots of intermediary and manual steps before a solution is reached – all this locks up worker capacity and keeps them from higher-value tasks.
Intelligent automation can augment the customer service aspect of your business and speed up complaint processing in several ways. By reading and understanding incoming emails, complaints can be routed through the appropriate channels, either automating a response or escalating the complaint to a human worker. This screening functionality helps prioritize workloads and ensures larger complaints are dealt with more frequently, helping to satisfy disgruntled customers and improving compliance in industries where complaints have mandated response and resolution times.
Anybody who works in a finance department will tell you – invoice processing is a time-consuming and repetitive task. Due to its repetitive nature, it can also be open to human error, which can be costly for both the company and the individual involved. Thankfully, invoice processing – which includes structured data – is something IA can do easily.
Using RPA and machine learning, key data such as money amounts and dates can be extracted from invoices and fed into the back-end system for processing. If no exceptions are found, the invoice can be processed quickly and easily. If an exception is found, it can be escalated to a finance manager who can either reject or accept the invoice. Either way, a lot of time and money is saved.
A good example of where automation helped ease an organization’s invoice processing is our work with Kohler Co. They were having to read their invoices manually which meant that processing was labor-intensive and took the time of 14 FTEs. We helped redesign the entire invoice process and switched the scanning of invoices to a fully automated system. With just a 7-week implementation, the project enabled the automated processing of 75k invoices annually. Read case study to find out more.
Most, if not all, businesses deal with onboarding in some form, whether that is employee onboarding or client onboarding. In a similar vein, financial services businesses must do KYC (Know Your Customer) and due diligence checks to verify the identities of prospective new clients. All these actions are still executed manually, with high rates of error.
IA can quickly take control of structured processes like onboarding and customer verification. It can schedule, automate, and process enormous amounts of data, creating new customer and employee records without any human intervention. Data entry errors will also be effectively reduced to zero, saving time and money fixing mistakes and releasing human workers to action on a higher level and more strategic tasks.
These four use cases are barely scratching the surface of what IA is capable of. With the help of Roboyo organizations can use technology to take their digital transformation to the next level. The question is, when do you want to start?
For more information on our IA methodology and capabilities, book a meeting with one of our automation experts.
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