Robotic Process Automation, Digital Transformation and the Internet of Things…anyone in business today seeking to understand what the future holds for their market needn’t look far to see that the key to competitiveness within the next decade will be further increases in process efficiency that will come from the ruthless elimination of inefficient, manual steps in routine processes. The result, as predicted by leading business analysts, isn’t just incremental efficiency gains, but a transformation of business operations that will boost the bottom line while driving top-line growth through greater agility and competitiveness.
For organizations trying to benchmark their current processes and to gauge their “Process IQ,” analysts have documented a learning curve that defines the evolution of a typical organization from ‘reactive’ to ‘visionary.’
Which of the following stages of process intelligence evolution describes your firm?
Level 1: Reactive Organizations
While all organizations do some things better than others, there are some key indicators as to the level of digital development in most organizations. Companies at the start of their digital transformation journey are often characterized by an inactive culture and a lack of technological integration or urgency for change. As a result, process workflow is fragmented with many manual tasks and processes, which are often repetitive and duplicated. At this development stage, many organizations focus on reactive, canned reporting, basic operational measures, and benchmarking themselves against their peers.
Level 2: Proactive Organizations
By contrast, advanced organizations have integrated technology and processes and tools to streamline repetitive and manual tasks. Instead of resistance, there is a culture of openness to change and a focus on addressing workflow bottlenecks and introducing solutions.
While these organizations are more developed than their reactive reporting peers, they do still have room to grow. Many organizations at this stage concentrate on proactive monitoring, advanced benchmarking, drilling down into actionable insights and understanding the root cause of their productivity inefficiencies.
Level 3: Visionary Organizations
While organizations at the measuring and benchmarking stage appear to be cutting edge, the level beyond that represents an inspiring step change. Organizations that focus on optimizing actionable analytics have completely integrated technology solutions and streamlined workflows. They have centralized and optimized processes through a core operational solution, which provides clear lines of communication and mechanisms to address and resolve bottlenecks quickly.
These visionary organizations focus their efforts on orchestrating and effectively using analytics, pulling actionable insights from those analytics, understanding the root cause of any remaining issues, empowering staff and administrators, driving governance, and risk mitigation through scenario planning and predictive analytics. This stage involves a deep and holistic understanding and use of Process Intelligence, as it helps users to understand what parts of the process are broken and what they need to do to fix it.
Embracing the Process Intelligence Vision
Process Intelligence picks up where Business Intelligence (BI) leaves off, helping organizations to understand their operations by analyzing processes and identifying process gaps and inefficiencies, through seeing their business metrics in the context of these processes.
Process intelligence relates information from systems of record and siloed data systems to specific steps in an organization’s business processes. The insights derived from this information can highlight areas of inefficiency and waste, as well as dark processes – unofficial steps that sometimes work but not always. Both these issues present a compliance risk exposure that needs to be at least managed, if not eliminated. These insights can also provide valuable information regarding the impact a particular process has on patient health and satisfaction.
To move forward, start with the back office
In many cases, companies today already have the core business systems in place needed to achieve process intelligence. What’s often missing is the ‘connective tissue’ to turn existing enterprise resource systems (ERPs), Enterprise Content Management Systems (ECMs) and other business systems into the engines of a business revolution.
Smart Process Automation Platforms, like Artsyl’s docAlpha, integrate with existing back end business systems to transform the unstructured data in documents stored in ECM systems into structured data that can be stored and managed in ERP systems-automatically, with minimal human intervention.
For many organizations, routine back-office processes like accounts payable present a perfect use case for process intelligence that can result in a quick ROI, while laying the groundwork for additional back office process automation.
For AP staff members, this translates into the elimination of routine tasks like invoice/order matching, manual approval routing and G/L coding, transaction data entry and document filing.
For executives, it means that data and documents are transformed into information instantly, resulting in greater visibility to critical business KPIs, including cash flow. For customers, this can translate into greater responsiveness and better service at a lower cost.
For explore how Smart Process Applications and Digital Transformation Technology can help automate and accelerate operations for your organization, contact your Artsyl Technologies representative.