8 Intelligent Process Automation Examples | by Camila Cox – DataDrivenInvestor
DataDrivenInvestor
Sep 6
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Intelligent automation is becoming more and more popular among businesses as a way to boost output and cut costs. The applications of intelligent automation are numerous.
This post will examine 10 examples of intelligent business process automation software that can revolutionize your business.
Before moving forward you have to know about intelligent process automation so that you can get detailed information.
The application of technology to automate or optimize processes using machine learning and artificial intelligence is known as intelligent process automation. IPA solutions can automate business processes while reducing human participation with artificial intelligence (AI).
IPA solutions go beyond straightforward, rule-based operations. As an illustration, IPA solutions can use artificial intelligence to handle unstructured data, which many RPA software are unable to do, or to provision, IT resources to guarantee that crucial SLAs are maintained. Another illustration would be the employment of machine learning techniques to enhance task performance over time for the IPA tool.
Both the onboarding and offboarding of employees are tiresome procedures that use up a lot of resources. It is necessary to allocate new assignments, execute documentation, and train new hires. Obtaining a letter of resignation, processing payment of outstanding wages and expenditures, and guaranteeing the secure return of business property are typical duties associated with employee offboarding.
Organizations may make sure that all necessary onboarding and offboarding procedures are done by using intelligent process automation. For instance, when new employees are employed, everything they need to do their duties, such as computer access and a security card, will be made available to them.
The mortgage financing industry is very cutthroat. About 40% of all mortgage originations are made by three banks: Wells Fargo, Bank of America, and Chase. Those still vying for the roughly 60% of the market that remains must incur high client acquisition costs. Despite these difficulties, most banks have neglected their current clients, who may be their most valuable asset. In actuality, only 20% of clients actually get a mortgage through their main bank.
Because of these factors, an increasing number of banks are using intelligent automation to cross-sell mortgages to current clients. Large volumes of client data are used by intelligent automation technologies to find cross-selling opportunities. The system, for instance, can alert bankers when clients display specific behaviors suggestive of a home purchase. A relevant action can be one that alludes to a change in employment status (i.e., a new source of deposits). Once alerted, bankers can contact clients using the best method of communication based on their data profiles.
Traditional procure-to-pay (P2P) procedures include a lot of time-consuming, repetitive tasks. The evaluation and selection of vendors as well as the extraction of invoice and payment data from various sources and systems are examples of typical P2P jobs. Systems examples include CRMs and ERPs, whereas third-party sources can include things like banks, vendors, and logistical firms. Because of the lack of integration, staff must undertake manual duties.
For these reasons, a lot of businesses are using intelligent automation to boost the efficacy and economy of their procurement procedures. Robotic process automation software (RPA) helps to streamline crucial P2P processes like purchase requests, purchase orders, invoice approval, and vendor management by resolving integration issues.
The discipline of product lifecycle management is not new. However, shorter development cycles paired with changes in the way we work have reemphasized its significance. Organizations must handle numerous moving pieces effectively for product lifecycle management. For things to go well, established, effective workflows must be in place.
The management of product lifestyles benefits greatly from intelligent automation. Several instances include:
Some estimates have the entire hidden expenses associated with quality management as high as 20% of the total cost of goods supplied. This is due to the fact that manual quality management processes lack process visibility and are difficult to control.
Stakeholders now have simple access to staff duties and performance information in one spot thanks to intelligent automation. Additionally, organizations can use automation to interact with a document management system and run tests more quickly and accurately.
Organizations can design workflows for automated approval procedures using intelligent process automation. Members of the marketing team can easily submit an electronic approval request. The employee will be informed when the request has been granted and forwarded to the authorized team member for review. In a couple of hours, campaigns can be approved and launched rather than having to wait days or weeks for a signature.
Organizations can greatly minimize manual activities through intelligent automation, hastening the onboarding process. Examples of how automation is used include automating customer communications and electronically extracting data from documents using robotic process automation (RPA) (i.e., automated welcome emails).
The elimination of costly errors from manual data entry procedures is another way for organizations to increase compliance.
Complex back-office activities are streamlined by automated inventory control systems. Organizations can automate their supply chains, keep track of inventory, manage shipping and fulfillment, and sync omnichannel order and inventory data with intelligent and the best business process automation software.
Automated inventory control will be more crucial as businesses continue to expand the range of goods and services they offer.
Hopefully, this post has demonstrated to you the wide range of applications and advantages of intelligent automation. There are already so many tasks that can be made more efficient with these technologies.
So, If you’re going to start implementing these technologies into your business or organization, consider the intelligent process automation examples.
To complete this process you have to choose the intelligent business process automation software!!
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