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Process automation helps in streamlining your process anomalies. When the order of execution is streamlined, people involved in the process have a sure sense of direction with efficient time management leading to on-time delivery & customer delight.
Process automation eliminates maverick expenses. Automation ensures that a business has its cash flow intact without situations wherein the accounts payables clear the payment but accounts receivables have no account of the service received.
When a business process is automated and approvals turn in on time and when technology is configured to process excellence, what is that inevitable return for the business? An improved bottom line. Your ROI improves drastically & you realize profit!
When a business excels in process and technology, it excels in employees, stakeholders, and customer satisfaction. Such gain in satisfaction boosts market brand value and propels a legacy business to reclaim its leadership in a competitive market.
Process mining helps discover, monitor, and improve processes by extracting knowledge from information systems. The process offers objective, fact-based insights derived from actual data to help auditors analyze and improve existing business processes as per compliance and performance standards. Process Mining is undertaken before initiating full-fledged process automation.
Process reengineering refers to the redesigning and restructuring of core business processes. An effective process engineering map can be planned according to the identification of the causes that impede the growth of the business compared to the market competition or when a particular process is underperforming to set business expectations. A successful process reengineering is possible based on the accurate identification of the obstacle.
RPA is the process of implementing ‘bots’ that learn, mimic, and execute rules-based programming. The bots interact with any application or system the same way people do but without errors, unless there’s a flaw in the programming. They deliver through negligible human interaction, perform around the clock, nonstop, and faster than humans with 100% reliability and precision.
Government bodies that operate on strict laws and regulations have no room to afford human error in any of their transactions. To ensure there are no such opportunities, the sector harvests process automation involving process mining, process reengineering, and robotic process automation. That’ll be the way to improve operational and technical efficiency along with ensuring every transaction is legally compliant and time-bound.
In the Healthcare & Life Sciences industry, the government levied laws and regulations for strict adherence. A simple mistake will not only cost a heavy legal penalty, often leading to business license cancellation but also the lives of patients. This particular industry should phase out redundant practices, processes, and technologies to evolve as a Center of Excellence.
Robotic Process Automation (RPA), in this context, saves cost by performing activities of several FTEs, minimizing errors, and improving the turnaround time in resolving customer issues. RPA helps the energy and utility sector scale up rapidly during disasters and crises and builds resilience to quickly adapt to constant policy and regulatory changes in the industry.
The Manufacturing sector leverages physical robots in assembling, testing, and product packaging. But for this labor and time-intensive sector, customer communication, procurement, inventory management, and payment processing have no system intelligence. And therefore, the consideration of RPA is progressive, driving more value across operations, the supply chain, and customer experience.
Banks, financial institutions, and insurance companies undergo digital transformation to address significant industry disruptions from the new breed of FinTechs enterprises. This transformation must fulfill process optimization and improve efficiencies through upgrading systems or outsourcing processes. Through RPA, the banking & finance sector can scale speed and accuracy to maximize business profit and client/customer satisfaction.
