Processes are now being revolutionised at every level by Intelligent process automation, and organisations are adopting new technology created to automate tedious, repetitive operations. Automation is more capable than humans of performing simple jobs like data entry tenfold quicker and more effectively, freeing up humans to conduct higher-value activities that call for creativity, planning, and decision-making.

Rules-based decision-making activities may be added when RPA and AI are coupled to produce intelligent process automation (IPA or IA), which increases productivity and efficiency. One of the biggest obstacles to adoption is plain old aversion to change. A costly failure may be caused by employee resistance, poor software selection, or inadequate training. A poorly thought-out RPA launch may actually cause more issues than it resolves.

Intelligent automation services are becoming more popular because they help businesses increase the efficiency of their output, lower operating expenses, and improve team decision-making. This section examines the benefits of intelligent process automation and offers examples from the real world of how it has helped different industries.

Increased Efficiency

Efficiency improvement is one of the most important advantages of enterprise intelligent automation. Businesses can save time and resources that can be used to higher-value operations by automating mundane tasks like data entry and invoice processing. For instance, NPS and CSAT are top priorities for firms in the healthcare sector. According to a survey, RPA can speed up the processing of 500,000 insurance documents in under 8 weeks!

Cost Savings

Intelligent business process automation can help organisations cut costs. Businesses can lower labour expenses and boost productivity by automating routine operations. Businesses will see a 15% decline in the worldwide workforce between 2016 and 2030, according to a McKinsey analysis. Businesses can also cut waste and save money on storage costs by automating procedures like inventory management.

Improved Accuracy

Businesses may substantially minimise errors by utilising artificial intelligence and machine learning techniques. For instance, manufacturing companies have embraced intelligent process automation to improve product quality by automating quality control procedures. The entire bottling and quality control operations are automated by large beverage businesses for utilising sophisticated software that enables the machinery to find toxins layers in the bottled beverage.

Increased Customer Satisfaction

Automation allows health-tech businesses to respond to clients more quickly and effectively by eliminating the need for manual customer service question resolution. Businesses may provide personalised products and services that live up to client expectations by using machine learning algorithms to forecast customer needs and preferences.

What different business can achieve with IPA

Almost any business's bottom line can be improved through intelligent automation. The impact of IPA technology on a few key business sectors is seen below.

Finance and Procurement

For most firms that continue to employ outdated ordering procedures, procurement procedures might be a leaky bucket. Every company needs products and services, but ordering procedures are still dreadfully ineffective in many businesses. Financial managers are under pressure to discover cost-cutting measures due to rising costs and dwindling budgets, but it is always better to increase efficiency than to make rash decisions.

According to Gartner, less than one-third of businesses that have embraced RPA for other systems are adopting it for financial reporting, which can result in a 25,000-hour yearly savings for finance departments. This translates to an annual payroll expense of $878,000 for a business with 40 full-time accounting personnel. 

Finance and procurement work together seamlessly. By incorporating RPA processing into various business processes, errors are reduced, staff are given time to focus on more rewarding projects, bottlenecks are removed, and human error is eradicated.

Customer Experience

Delivering a superior customer experience is another area where RPA excels. In order to provide consumers with better service, American Express Global Business Travel introduced their Trip Recommender solution to provide hotel discounts to customers who book flights based on previous stays and pattern behaviour. The solution increases bookings and customer happiness while saving clients’ time and money for the business without increasing payroll costs.

To achieve the successful implementation of intelligent automation, businesses must have a defined plan and strategy in place. Prior to determining which jobs and processes should be automated, they should first define their aims and objectives and evaluate their current procedures. After that, they must choose the appropriate technology, make a plan, train staff, and continually review and enhance the automation processes.

IPA is much more than a new shiny thing for companies seeking to free themselves from antiquated and ineffective processes. The variety of applications expands as technology advances. Businesses that are on the cutting edge of technology will adopt, adapt, and benefit.