As the digital transformation era completely revamps multiple lines of industry, more companies are relying on the automation of technology to optimize their business processes. As consumers, we’re experiencing this more and more, whether it’s chatting with a bot on a website or downloading an onboarding package without interacting directly with an HR representative for a new job. Here are just some of the ways that these algorithms are benefitting businesses and customers alike.
Mitigating Risks
One of the greatest benefits of intelligent process automation is the ability to reduce the risks of mistakes that could potentially be brought on by human error. As companies look to rely more on data output, automation tools provide a standard template that allows for seamless real-time analysis for business leaders. It also takes repetitive tasks that may stress out a human worker like data entry and creates a system for operational efficiency.
Beyond data entry, this has expanded into customer service with the use of chatbots. Perhaps you’ve logged onto the website for your bank and the chat led you to FAQs that eventually led to human interaction. These automation technologies help to pinpoint the needs of one customer to avoid the run-around on answers. With intelligent process automation, private data is kept safe, while companies reduce their operational costs. This has led to greater customer satisfaction with customers feeling as though their issues were dealt with promptly, and no longer a time-consuming part of their day.
Ensuring Regulatory Compliance
As the future of automation shows greater things on the horizon, there’s a greater need to ensure proper regulatory compliance at all levels. Intelligent process automation helps businesses to combinate data generated by digital process automation and robotics process automation to spot patterns and trends, creating more advanced analytics. This generates awareness within an organization of any outstanding issues that may be in violation of regulations. This is especially imperative for financial institutions and healthcare organizations that have to adhere to certain government standards at state and federal levels.
This use of artificial intelligence in those industries automates tedious, non-specialized tasks. This saves time by making routine tasks go faster while remaining under the watchful eye of a recommended team of data scientists monitoring trends. In some utilization, voice tracking has become a part of these automation innovations. This allows for customers to be able to conduct transactions safely through a voice recognition program.
This intelligent automation tool has become popular among pharmacies, who use this technology to make sure they are safely filling prescriptions by authenticating customers. This allows human operators to focus on the distribution of these prescriptions.
Identifying Touchpoints Within Data
Intelligent process automation can be used in a variety of business environments that rely upon data to path their way forward for customer satisfaction and business expansion. Automation tools can take the most complex operations and simplify them, by recognizing touchpoints within these data sources. This can help to highlight opportunities for retailers and e-commerce to enhance the buying experience. This leads to greater customer retention, reducing churn for businesses.
For example, The Internet of Things, or IoT, part of a greater machine learning apparatus has transformed retail in many ways. IoT collects physical stats, letting customers see how certain clothes and makeup will appear on them. These automation use cases have led to a greater interest in certain retail outlets, expanding to recognizing buying trends for a customer to make accurate recommendations at checkout.
As part of business process management, this lets retailers get a better understanding of what in their inventory is moving rapidly, working out a better relationship with their producers and vendors alike.
