Digital transformation is a catchphrase that comes up often when any business aims at modernization. From providing standardized help to customers with bots to digitizing the entire data library for a seamless, paperless central workflow, channelizing the said data for predictive analysis, to efficient quality checks powered by AI & ML, digital transformation has brought about a total paradigm shift. Today, enterprises lead and function in a completely different way from how they used to 20 years ago.
Digital transformation enables enterprises to streamline every department within their organization to deliver more. It’s a dynamic and extensive evolution. Novel technologies are deployed to augment existing business processes as well as bring about total structural reform where required.
This dynamic and fast-paced evolution also requires a change and acceptance towards new technology. Innovation and modernization must be persistent and internalized to stay afloat and keep abreast with competitors. Better technology is a major factor today in driving the demand and supply cycle and there are no two ways about it.
A critical and integral part of any digital transformation process is Intelligent Automation (IA). IA is an amalgamation of Robotic Process Automation (RPA) and artificial intelligence (AI) technologies which enable swift end-to-end business process automation and fast-track digital transformation. IA makes use of new age technologies like machine learning (ML), RPA, natural language processing (NLP), and computer vision to automate critical business processes, thus boosting transformation across all verticals of an organization. This is why robotic process automation (RPA) is an integral part of any digital transformation. Automating repetitive tasks and business processes is the measure that improves processes and implementation, grows operational efficiency, and most significantly, enhances the customer experience.
Let’s have a look at some of the benefits IA has to offer.
Automating tasks not only leads to improving workflows but also helps cut down manual labor. This helps you free up your employees to do more where it matters increasing work productivity exponentially. For example, it replaces routine workplace tasks, such as labor-intensive data filing and extraction with intelligent document processing (IDP). IDP orchestrates and processes documents quicker irrespective of data type, improving work efficiency and productivity. IDP is extremely popular in industries like legal firms, banking, healthcare and logistics where data repetitive and ginormous but also the backbone of the system.
Automation slashes your business costs by huge margins in the long run. It eradicates the requirement for humans to perform time consuming repetitive tasks. It also helps you to remotely manage decentralized teams globally from a central system. Giant Conglomerates such as Netflix, Amazon, Meta ceaselessly use AI and RPA as an integral part of their IT framework. This allows them to carry out a swift and seamless customer experience at inexpensive rates.
Client is the king, this holds especially true in the age of digitalization as our buying and spending habits are heavily influenced by and performed on the internet. A top notch customer experience is vital and expected. Intelligent automation can help you attain this by computerizing tasks that traditionally required human interaction, case in point, responding to customer queries or grievances. IA boosts the operational efficiency of the most rudimentary mundane jobs.
An important aspect of the digital era is cutting edge innovation. Enterprises need to constantly evolve to outperform competitors. IA empowers you to do this by saving employees’ time to attend to tasks which need elevated levels of imagination and innovation. With IA, your workforce can focus on innovative business plans and improvements.
To err is human, but IA can in some instances keep your error margins to near zero. Using intelligent automation allows your business to diligently monitor processes without the scope of mistakes and human error. This in turn leads to perfect quality control and superior efficiency. In addition, IA resolution engines apply RPA to work processes that are able to harness cost-effective outcomes. To put things in perspective, in 2008, the IDC stated that human errors whilst data processing cost an average conglomerate about $62.4 million per annum. IA decision engines employ machine learning and deep learning to read patterns and analyze pertinent data before directing RPA bots to automate relevant tasks. Essentially, IA decision engines are put together to offer precision learning and data analysis in process automation.
Digital transformation came into to its own during the era of the pandemic to provide a more efficient, agile, seamless experience to both enterprises as well as consumers. Automation is at the core of that. Reasonably, the future of automation as a pillar of digital transformation will pave the path to more multifaceted, end-to-end automation, and that for you is intelligent automation.
Curious as to how you can kick start your journey of digital transformation leveraging latest IA and RPA technologies. We at MSRcosmos can help you modernize your enterprise. Call us today.