Intelligent Automation Benefits Across Businesses: Industry Implementation and Key Market Players

by January 19, 2020 0 comments

Intelligent Automation

Automation is something that reduces or eliminates manual efforts. Significantly the automation technologies have been here for a while; so what the next step? To make it more intelligent obviously! Evidently, the advents of robotic process automation or AI-enabled RPA known as Intelligent Automation has come into being since the past few years. The technology represents the next generation of enterprise automation solutions with an abundance of innovative capabilities to exponentially expand the scope and degree to which processes can be optimized. Intelligent Automation positions enterprises not only to drive productivity with a collaborative machine/people workforce but rather it also helps operate automation technologies more transparently.

Moreover, the intelligent RPA technology is considered as a digital strategy for transforming an entire portfolio of business processes to time and cost savings, which are easy to quantify; and increase agility and ease of use, which are tricky to measure. Such technologies provide a structured output with enhanced productivity.

Additionally, IA being an evolved version of automation mimics human actions and possess cognitive capabilities, including natural language processing, speech recognition, computer vision technology, and machine learning to comprehend the vast amount of structured and unstructured data, analyze, understand and learn it on the go, and intelligently automate processes to bring in more operational efficiency as well as business efficiency.

As noted by IBM, leaders embrace automation because they know it’s the secret to overcoming the breakneck pace of digital change. The true visionaries use intelligent automation to create a new digital world where they are masters of competitive advantage. Their latest recruits include machines and software intelligence that they are using to bring new skills to help their people do new jobs and invent a new future for themselves and the organization. Intelligent automation, however, brings fundamental changes to how businesses and individuals work. Machines have different strengths and capabilities that complement their human supervisors. Together, they’re changing what’s possible.

Let’s explore what are the fundamental changes brought in by intelligent automation across various business operations.

Across common business practices and activities, RPA helps automate the complete sales operations process, eliminates the errors while providing fast service to the customers. Since automation processes sales faster than manual processes, customers will receive invoices earlier, leading to earlier payments and improved cash flow. Such an automation process mostly relies on the company’s structured data to generate invoices to be sent to customers.

Moreover, since the procure-to-pay process involves extracting invoice and payment data from multiple systems like enterprise resource planning (ERP), customer relationship management (CRM), banks, vendors, logistics companies and since not all these systems provide easy integration methods they generally involve some form of manual labor.

Intelligent RPA bots help with such integration gaps. As they work on the front end they can serve an easy way to automate integrations. Availing the perks of fully automated procure-to-pay, people can ensure that procurement best practices are followed and a single source of truth exists for all transactions.

In an effort to ensure better decision-making for a business process, managers and other team members need to be aware of the progress. Therefore, they require regular progress reports for such functions. However, preparing such reports and forwarding it to authorized personnel is not labor-intensive work but it does distract employees. Here, intelligent RPA solutions can easily auto-generate reports, analyze their contents and based on the contents, email them to relevant stakeholders.

To understand better, how different companies offer innovative automation services, let’s dive into some significant case studies/use cases of intelligent RPA applications across industries.

 

JIFFYRPA

Across the insurance sector, a unique set of challenges exists like – the complex legacy system landscape, complex business models especially in claim management and underwriting. To add to this, there are multiple variants of the same processes which require large workforce deployment for data entry and customer management activities. Speed, Data management and regulatory compliance is key to success in implementing RPA in Insurance. JiffyRPA with its enterprise architecture, scalability and 100% auditable bots is uniquely positioned to help Insurance companies embrace RPA.

Moreover, as the retail industry has been revolutionizing omnichannel customer experience by being an early adopter of automation advancements. In a complex application landscape that links logistics, supply chain, warehouse management to store management and customer service, speed, quality, and intelligence is paramount. With high volumes of complex work being processed at any given time, organizations need to equip teams with RPA capabilities to reduce manual effort on repetitive tasks while enhancing the quality of work. JiffyRPA’s cognitive capabilities with AI, ML and NLP components allow retailers to complement process automation with human-like intelligence and decision making for faster operations, advanced analytics and enhanced customer engagement.

Furthermore, several people are turning to telecom companies to connect them with global networks which is increasing day-by-day. Many of these providers are burdened with huge volumes of operational processes such as controlling costs and business efficiency, managing data, increasing business agility, acquiring and retaining talent and developing new services. These processes prevent them from focusing primarily on their customers.

In such a scenario, telecom companies are competing with one another to provide fast, affordable and cutting-edge offerings to their customers. However, the telecom industry is well equipped to take advantage of an out-of-the-box technology such as Robotic Process Automation to help them tackle problems and streamline their business processes. RPA enables telecom companies to manage their back-office tasks easily and deal with huge volumes of repetitive and rules-based operational processes. With machine learning, and advanced analytics, JiffyRPA is uniquely positioned to help telecom industries implement RPA for their tightly regulated business processes.

 

Blue Prism

Forward-thinking British automotive company, Jaguar Land Rover (JLR) has always sought innovative ways of solving problems. One such challenge was improving the efficiency and effectiveness of its complex, process-driven, legacy IT infrastructure that had expanded over time through corporate acquisitions. As an alternative to renewing its enterprise IT environment – which would have been both difficult and prohibitively expensive – Robotic Process Automation (RPA) was deemed as a key enabler. RPA offered a tangible and effective method for transformation, especially due to the non-invasive way that it is deployed onto an existing IT landscape, which ensures that benefits can be realized quickly.

After a competitive selection process, Blue Prism and its Digital Workforce of advanced software robots were chosen. Through Blue Prism’s RPA capabilities, JLR has generated multi-million pounds of value from connected-RPA, with all savings and human capacity carefully reinvested back into the business. This value has been achieved by liberating capacity for higher-value tasks and generating greater revenue while improving compliance and productivity. Greater insights have also been gained from process data, which are being used to optimize operational efficiencies – while revealing new commercial opportunities. The net result is a culture of continual innovation and improvement that is delivering a sustainable and profitable future for Jaguar Land Rover and its shareholders.

Additionally, Milaha which is one of the largest and most diversified maritime and logistics companies in the Middle East focuses on providing integrated transport and supply chain solutions. The company receives hundreds of invoices each day—in both paper and digital format. FourNxt worked with ABBYY and Blue Prism to create a solution that would streamline the Milaha’s invoice processing through automation.

Using the six crucial intelligent automation skills – Knowledge and Insight, Visual Perception, Learning, Planning and Sequencing, Problem Solving and Collaboration, the company automates the document classification and extraction of the invoice data by reading each invoice and outputting the data into a file to be processed. Invoices results are then passed to Blue Prism’s Digital Workforce, which validates and reconciles the invoices in the corresponding subsystems. Once verified and reconciled, the data is fed into the ERP platform by a Digital Worker for payment processing. Also, the new automated process enables digital workflow and audit trails.

 

WorkFusion

A major US Healthcare coverage administrator was facing challenges across its operations. When members submit a policy complaint or want to appeal a decision, one of several teams must review the case. Appeals are requested via email, fax, phone or through a web form. Information, including member name and complaint type, must be manually entered to start the appeal process. That’s time- and labor-intensive, and prone to errors — and any slowdown of an appeal can cost significant time and money. Therefore, the operations team at the company used WorkFusion Intelligent Automation Cloud to transform a completely manual process into an automated workflow. First, Automation Cloud extracts data from emails using robotics and OCR and then uses machine learning models to classify and route requests into queues. Efficiency plus accuracy is achieved via an exception-handling workflow that includes a human-in-the-loop step for anything the bots are initially unable to process, such as handwriting.

Moreover, across a large sector full-service bank, as part of it’s Know Your Customer (KYC) process, the bank receives a daily average of 8,000 requests to open new accounts, which can spike to 40,000 during peaks. The bank’s operations team receives supporting documents in a variety of formats and must provide customers omnichannel access, including tablets and mobile devices. It was critical to continue to allow device and format flexibility for customers but achieve internal standardization and consistency. Hence, the bank’s operations personnel used WorkFusion’s Intelligent Automation Cloud Enterprise to transform its KYC operation. The team leveraged Learning Bots to classify and extract customer data for new account openings from 10 document types, all in varying layouts. Because of Automation Cloud’s unified platform, document data is able to be validated against more than 100 rules and regulations.

The industry implementation of intelligent automation or intelligent RPA is endless as the technology provider serves with immense benefits to customers and clients to upgrade their business operations. Here are some of the remarkable industry-players in this domain.

 

EdgeVerve

EdgeVerve is a wholly-owned subsidy of Infosys, which has developed the AssistEdge RPA tool. It is a leading cohesive automation platform built with a holistic suite of automation and AI capabilities. From automating repetitive manual tasks and improving data quality, to enhancing better customer experience, AssistEdge has got people covered. A leading automation tool, AssistEdge enables enterprises to realize the full potential of automation by offering assuring scalability, security, intelligence, and innovation.

 

WorkFusion

The rapid rise of AI and automation, along with the changing roles of people in the workforce, have created both complexity and opportunity for individuals, businesses and entire countries. WorkFusion’s purpose is to reduce this complexity and help its customers exploit the opportunity through products that pair people with intelligent software robots. WorkFusion is headquartered on Wall Street in New York City with teams throughout North America, Europe, and Asia.

 

Pegasystem

Pega is the leader in cloud software for customer engagement and operational excellence. The world’s most recognized and successful brands rely on Pega’s AI-powered software to optimize every customer interaction on any channel while ensuring their brand promises are kept. Pega’s low-code application development platform allows enterprises to quickly build and evolve apps to meet their customer and employee needs and drive digital transformation on a global scale.

 

UiPath

UiPath is a global software company that develops a platform for robotic process automation (RPA or RPAAI). Following its acquisition of both ProcessGold and StepShot in 2019, UiPath has become the first vendor of scale to bring together both process mining and Robotic Process Automation. Per Gartner, the combination of RPA with process mining, AI, machine learning and analytics is best described as hyper-automation.

 

Blue Prism

As the pioneer and market leader in Robotic Process Automation (RPA), Blue Prism is the trusted, secure choice for Intelligent Automation available on-premises, in the cloud, or as an integrated solution in a hybrid cloud environment. Blue Prism brings people the connected-RPA Platform, an advanced technology ecosystem that puts the power of accessible, advanced cognitive technologies in the hands of their operational leaders.

 

Automation Anywhere

Automation Anywhere empowers people whose ideas, thought and focus make the companies they work for, great. The company delivers the world’s most sophisticated Digital Workforce Platform making work more human by automating business processes and liberating people. As per the company’s mission, “to enable companies to operate with unprecedented productivity and efficiency by automating any part of the enterprise that can be automated with the most intelligent and intuitive robotic process automation platform, Automation Anywhere calls The Intelligent Digital Workforce.”

 

SAP

SAP builds intelligent bots with machine learning and conversational AI for hands-free execution and stability. It supports intelligent robotic process automation (RPA) to execute processes across multiple systems, cloud solutions, and software-as-a-service offerings. Customers can automate repetitive manual processes by creating, scheduling, managing, and monitoring intelligent bots. With SAP Intelligent Robotic Process Automation services, they can redirect resources toward high-value activities and processes.

 

IBM

IBM has been among the leaders in developing and integrating cognitive capabilities across a spectrum of products and services. Their Watson engine is an industry pioneer, and they use it as part of automation offerings across IT automation and RPA. One of the key differentiators for IBM is the backing of IBM Research for all its offerings, which ensures that clients have access to cutting edge technology.

 

Cognizant

Cognizant’s IPA solutions make customers’ processes smarter. It tends to elevate workforce productivity by automating not only mundane tasks but also end-to-end business operations. Combining robotic process automation with machine learning and cognitive technologies to create intelligent operations, Cognizant offers IPA solutions that accelerate productivity. The result: streamlined business performance and customer experiences—and more efficient and effective operations.

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