Robotics and intelligent technology solutions aid companies in accelerating business. The focus on software applications and the deployment of end-to-end solutions for business mobilization this past year only point to the growing indispensability of intelligent automation in getting work done. Machine Learning (ML) and Artificial Intelligence (AI), suitably acronymized as MLAI, are enabling the continuity of critical processes and functions like never before. Intelligent automation technologies have permeated almost every sector and functional domain including supply chain, insurance, healthcare, security & compliance, finance & accounting, inventory management, etc. Given these facts, it wouldn’t be an exaggeration to state that MLAI-driven software applications and devices augment workflows, processes, systems, and even the workforce.
This augmentation of work processes and people has also facilitated another critical aspect of business management, namely, decision-making. Decision-making today is not result-dependent but process-dependent, and intelligent automation has made that possible.
Intelligent Process Automation streamlines data-driven processes, no doubt, but it most importantly works to implement tasks dynamically. Why is this important? Well, dynamic process implementation enables companies to detect defects, anomalies, or exceptions during the implementation stage rather than at the end of a process, enabling businesses to focus on correcting or steering away from any inconsistencies well before delivery of the finished product. This increases processing accuracy manifold, giving managers a true measure of the state of processes and business functions, and enabling them to act or decide on the right course of action during the implementation stage itself.
Intelligent automation churns out the right business data from process implementations, which is what decision-makers need to make informed conclusions.
This is the data-driven method to decision-making that is made possible by optimizing content-centric business processes. The important thing to note here is that intelligent automation helps churn out the right business data for insights and decision-making, something that humans may not be able to decipher easily.
The human element always introduces some form of errors in process implementation and is not ideal if you want the right data and results from a process. Intelligent automation, on the other hand, is embedded with digital transformation technologies like MLAI, intelligent data capture, Business Process Automation (BPA), along with Robotic Process Automation (RPA) to extract accurate data and insights from heavily document-and-data-driven processes. The processing ability of intelligent automation solutions makes it possible to extract the right data and insights to enable action.
Take the simple case of order processing, a mission critical process in any industry. Manual processing of sales orders offers little to no visibility into the state of the inventory or supply chain, or even customer needs. Traditionally, businesses had little access to relevant data that they could rely on to make informed choices. It is difficult to know whether you are, say, processing an invoice that has already been approved previously or for example, have the right vendor corresponding to the invoice at hand, when you’re handling vendor payments manually. The same process, when optimized into a single workflow solution, will help onboard all vendors onto a common platform, enabling you to quickly verify and decide on the next course of action. Intelligent Process Automation increases visibility across processes. Data on the state of a particular invoice — whether it has been paid or is in the process of being verified, or has incomplete information that you need answers to — indeed aid businesses tremendously on what they should be doing next.
Moreover, when it comes to order processing, having a single platform solution to process sales orders enables you to be in constant contact with your customers, not to mention maintain a ready database of inventory stock options so you know whether a particular product is in high demand and needs restocking, and stuff like that. Intelligent automation offers timely access to business data which will help companies make their next move. This is just one of many examples where technology aids companies in making informed decisions.
Want to sharpen your decision-making skills? Ask for a demo of Artsyl’s intelligent process automation platform for optimizing mission critical processes like accounts payable, order processing, medical claims processing, etc. Artsyl IPA accelerates data availability, based on which companies can make informed decisions.