Intelligent Automation is here, It's growing, and your competitors are likely taking advantage of it.
Intelligent Automation is a revolution in the making, bringing Business Process Business Management (BPM), Robotic Process Automation (RPA) and Artificial Intelligence (AI) technologies together. It is an enormous opportunity, but a mammoth task to identify the right uses of these powerful tools. In this blog we help you uncover what's possible and what businesses need to do to compete and grow.
What Is Intelligent Automation?
The industry has defined Intelligent Automation as essentially the combination of Automation and Artificial Intelligence in the area of business process and task automation. It is finding its way into many routine business processes in nearly every sector of the economy. Automated invoice processing, customer service, clinical study management and marketing automation are all candidates for Intelligent Automation, and there are many solutions available for these applications.
Princeton Blue has completed over 466 projects in the Intelligent Automation space. We define the term a bit more broadly: it is a combination of two or more of the following technologies, using the correct emphasis on each, with the aim to improve customer experience and operational efficiency:
Business Process Management (BPM) ñ A combination of discipline and technology, BPM is at the heart of Intelligent Automation efforts because it orchestrates the processes by which business is done.
Low-code Application Development ñ Low-code application development allows rapid software development, allowing developers to build modular business apps quickly with rich, modern and mobile user experience, with minimal cost.
Robotic Process Automation (RPA) ñ RPA aims to automate high volume repetitive human tasks by use of a digital workforce ñ a scalable and reliable army of trained software robots ñ allowing humans to focus on more value-added work.
Artificial Intelligence (AI) ñ The science and engineering of making intelligent machines, AI is broadly defined as any activity by a program or machine that, if a human carried out the same activity, we would say the human had to apply intelligence to accomplish the task. AI is increasingly finding its place inside the enterprise technology to enable businesses
While these technologies are not new, and in fact are quite mature, they are all growing in power by leaps and bounds and the combined value of these technologies has a multiplying factor. In other words, 1+1 does not equal 2Öit equals 11!
The Intelligent Automation Revolution
Intelligent Automation is both transformative and disruptive. Some industry pundits are predicting that the overall impact of Intelligent Automation on business could rival that of the enterprise resource planning wave of the 1990s. Investment in the technologies has exploded in recent years, and more companies are beginning to take advantage of Intelligent Automation capabilities by starting with one of the technologies, usually BPM, RPA or Low-code.
We do not believe a revolution is coming; it is already here. Many businesses simply need to understand the impact Intelligent Automation is already having on everyday processes and the importance in developing a strategy.
There may be processes that you must automate in order to stay competitive, and some things that you may not have considered.
For example, there are many processes that are monotonous and repetitive to humans, such as copy-pasting data from documents, entering data into systems, uploading/downloading files from document management systems and more. These activities often result in fatigue and are prone to error.
As the workforce ages and fewer younger workers are interested in fields requiring manual labor, it will become harder to find workers to fulfill these tasks. Software robots and artificial intelligence can work alongside of humans to assist in these tasks or even take over for humans entirely, greatly improving speed and quality.
While traditional RPA has addressed this problem by automating routine tasks, Intelligent Automation takes streamlining repetitive, labor-intensive tasks to another level. Add BPM to the mix, and you have a much robust exception handling of the robots, with human intervention in case a robot fails. BPM also enables end-to-end process automation as opposed to repetitive task automation enabled by RPA. Add AI to the mix, and you get a digital workforce that is far more intelligent in performing the tasks, minimizing human intervention even further.
Many large-scale activities that draw on or feed information to multiple systems can be greatly enhanced by an intelligent automated process system. Your human workers can be freed up from low-level paperwork and data shuffling, and instead used in higher value tasks that are ultimately more profitable and more satisfying for the worker as well.
Successful Intelligent Automation Use Cases
Princeton Blue has built a number of solutions that successfully demonstrate the power of Intelligent Automation. Below are some examples:
Intelligent Delinquency Prediction - leverages Machine Learning and BPM to pick up early signs of borrower's financial distress before the loan becomes delinquent, thus allowing proactive steps to be taken to avert the potential delinquency. Learn more.
Automated Customer Service ñ multiple powerful technologies including BPM, Case Management and Low-code combined with RPA and AI to elevate the Customer Experience like never before. Learn more.
Automated Invoice Processing - leverages the power of RPA and BPM to achieve end-to-end automation, transforming invoice processing by automating manual activities with RPA and workflow automation with BPM. Learn more.
Automated Vendor Onboarding ñ a perfect example of BPM and RPA bringing their synergies together to achieve significant value to a business, automating repetitive and mundane human activities during vendor onboarding processes. Learn more.
Hassle-Free Intelligent Automation
It is clear that businesses need to at least explore Intelligent Automation strategies. The challenge is how to identify which platforms will provide the capabilities you need to accomplish business objectives, and then integrate them into single offering.
Princeton Blue, a leader in Intelligent Automation, understands these technologies and has the depth of experience to help clients rapidly build and deploy solutions. The Princeton Blue Innovation Lab allows our clients to take advantage of pre-built solutions to accelerate their digital transformation journeys using these Intelligent Automation technologies. Princeton Blue is recognized by Forrester and Gartner in this area in numerous reports.
We are experiencing a revolution, where powerful technologies, working in unison, can greatly streamline your business, improve your workforce, help you compete globally and grow profits. It's time to explore this opportunity, and Princeton Blue is eager to be your strategic consultant and implementation partner. Contact us today to learn more.
Amol Mategaonkar
General Manager, India
Princeton Blue
