It’s about the outcomes, not about the technology.
Over and above the quick benefits that have been realized by Robotic Process Automation (RPA) related to reduced cost, enhanced quality and boost to productivity, Intelligent automation (IA) brings out several strategic benefits which organizations work through to realize on their way through the “Automation” or “Digitization & Digitalization” journey. Some of the most important benefits are:
1. Actionable Insights: Enable strategic business decisions that require analysis of market conditions, past decisions, recent events and current business context. These insights help you peek into the minds of customers and employees working on specific business processes, helping you create and maintain the biggest asset that your business has – DATA!
2. Reduce risk: Wherever the highest control is required from compliance and regulatory perspective, IA can play a very important role as it allows the business to deliver highly compliant outputs with minimal human intervention.
Therefore, the benefits may not always be financial but also be in terms of managing risk and driving greater business and regulatory compliance. Of course, this is mainly dependent upon the business goals & digital transformation road map.
3. Effective management of errors: This is where a diverse set of Machine Learning algorithms are used to trap very common or simple errors. Audit teams and teams implementing the business process see remarkable gains in efficiency and accuracy when IA is used for error management. It allows for early and more comprehensive detection, thereby dramatically improving the outcomes and outputs of such processes.
4: Enhancing job content: IA allows a real impact in improving job content by automating repetitive and mundane tasks and allowing people to focus on more decision-based, higher-value work. It can help in creating an environment where people constantly move to work requiring higher-order skills such as Business Analysts and work requiring an end-to-end view of the business transactions and not just a view of a sub-section of the process.
In conclusion, the biggest business benefits of intelligent automation are to enhance customer-friendly brand image, reduce risk and improve compliance, improve audit efficiency and help people move to higher-value order work.
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