7 Areas where Intelligent Automation can Drive More Value in your Organization
The digital economy is in full swing across the world and the demand for technology innovation to help satisfy growing consumer needs is at an increasing pace. The one key element at the heart of every digital transformation initiative across all major industry players is automation. When key business processes are automated, then transitioning their customer facing operations into a digital entity becomes quite easy. Most organizations started with the Robotic Process Automation (RPA) drive to gain a firsthand feel of the wonders automation can do for them. Now, the onus is on them to transition into intelligent automation wherein software bots do more than just mimic human interactions with computer software- the original RPA recipe.
By fusing Artificial Intelligence (AI) and Machine Learning (ML) concepts into the fundamental working principles of RPA, businesses have access to a large platform of autonomous services for their operations. There are several areas where intelligent automation can become a game changer for enterprises and we explore the top 7 in our blog today:
1. Marketing and Sales
Marketing automation is not new to any modern day enterprise that wants to quickly scale up lead generation and drive more closure for sales. In fact, studies have revealed that 4 out of 5 users of marketing automation tools have witnessed an increase in their lead generation stats compared to those who have not implemented marketing automation. RPA can play a crucial role in empowering marketing and sales teams to better capture and respond to user sentiments. RPA bots can be trained to extract lead information from multiple sales channels and forward them or schedule them for sales follow ups. Intelligent bots can go one step further to analyze lead information and filter quality leads to ensure better closure figures.
2. The HR Function
HR automation is one area where companies will need to focus their investments in the coming years to enable better workforce productivity. Potential candidates within the Human Resource department where intelligent automation can create disruptive innovations are recruitment, onboarding, training, and payroll. A lot of manual and repetitive tasks occur in these areas where people often use documents and spreadsheets to manually manage data. This is precisely the reason why automating these processes can help to transform your HR department positively. For example, intelligent RPA bots can assist in resume shortlisting by analyzing data in the resume and matching them with the necessary skill sets needed for a particular vacancy within the organization. This will save a considerable amount of time and effort for recruiters and help shorten hire cycles.
3. Customer Support
With the rising number of self-service digital portals addressing customer needs across industries, the potential for automated intelligent bots serving as support associates is immense. From assisting users for form filling to conversational bots that interact with customers and take actions on their queries, there are several areas that can be disrupted positively with intelligent automation. 24 X 7 availability, lower error rates, and bias free responses make intelligent bots a splendid customer support solution for enterprises.
4. Finance
Every modern day organization has a powerful finance department that handles day to day expenses and critical financial commitments of the business. A major task of finance folks is verification of bills and invoices that are submitted by or given to customers, employees, vendors, partners, and others. Implementing intelligent automation in finance and accounting, processing of such financial documents can be easily streamlined and the process is made faster in the best interests of all stakeholders.
5. IT Support
The IT department often handles scenarios like password changes, new system software installations, etc. as a routine job. It takes a pretty long schedule and effort from the IT team if the workforce and the amount of changes to be done are both large in number. During this time, staff in the department often fail to be available for other critical support activities within the organization. With intelligent automation integrated into the IT operations, a lot of repetitive manual tasks can be handled by bots such as data backups, periodic software upgrades, system maintenance schedule management, etc.
6. Business Process Management
For a successful RPA implementation, it is essential to have a well-orchestrated business process workflow for every enterprise activity. This needs to happen at every business unit level and involves a number of stakeholders like lower to management level employees, vendors, etc. When this happens, the enterprise as a whole undergoes a transformational change in the way they operate. Processes become more streamlined and roadblocks get removed seamlessly. This is a direct result of the decision to implement RPA and hence a vital value adds for businesses as well.
7. Operational Excellence
'To err is human' we all know this proverb is true in almost every area of human interaction. We are bound to make mistakes naturally but when it comes to a business scenario, small mistakes can have quite a big repercussion for the company. A majority of these high risk mistakes occur with data management and this is precisely the area where deploying intelligent RPA bots in business operations can make a difference. Highly intense data management and processing tasks can be handled by RPA to avoid errors, improve the speed of processing and ultimately free human resources to work on more valuable job roles within the company.
Conclusion
Intelligent automation will change the way enterprises strive for success in today's competitive markets. The more you are able to drive efficiency in your operations and customer experience, the greater will be the value you will be able to drive from these initiatives. Cognitive robotic process automation will be a deciding factor in this journey to drive transformational changes within your business and we have explored 7 key areas where they will make the most impactful mark of their existence.
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