Intelligent Process Automation (IPA) is making waves in a range of industries worldwide thanks to the massive operational improvements it enables. It leverages both Artificial Intelligence (AI) and Robotic Process Automation (RPA) to enable hyperautomation – the end-to-end automation of processes.
IPA enables the automation of processing large volumes of unstructured content and this is a huge bonus as many businesses must handle increasing volumes of such content. Automating such processes provides a number of benefits that can give your business a competitive edge for long-term success. Research by Gartner indicates that by 2022, 65% of organizations will introduce IPA that leverages Machine Learning (ML) and Natural Language Processing (NLP). Hyperautomation is the way of the future and companies who leverage IPA for digital transformation can enjoy triple digit ROI fairly quickly.
Here are 9 benefits of implementing IPA for your business.
- Consistent Service & Output
The best part about employing IPA to automate just about anything is its ability to generate the same quality and standard of service and output all year round. When you have a customer base (internal or external) that demands services be available to them at any given time, facilities like automation can make a huge difference. Moreover, IPA can function much faster than human effort so you can increase levels of throughput and maintain these levels consistently.
- Enhanced Interoperability of Systems
With IPA managing all the document-intensive tasks your services can now be delivered much faster. In addition to this, IPA enables connection of various systems thanks to its RPA component. This leads to faster and better interoperability while knocking down any silos at all levels of the organization. This manner of connected operations leads to much higher operational efficiency with seamless experiences for users at every stage of the workflow.
- Greater Data Collection Capabilities
With IPA, it is much easier to collect valuable data from a wide range of sources. This includes data from e-commerce sites and various social media which can be of great business value. Collecting this data manually is a very labor-intensive task. However, IPA makes it easy to automate data gathering.
- Faster Turnaround Time & Service
Quick responses in any business are always appreciated. Since one of IPA’s primary advantages is speed of operations, swift output and responses are always guaranteed. This improves both customer experience and in-house processes for smooth business operations resulting in better user experiences for employees. For instance, many HR processes such as payroll and employee history verification can be automated. On the customer-front, IPA-enabled systems can provide quotes to customers in just minutes instead of days.
- Higher Accuracy
Maintaining records or any other data-intensive task can be an arduous process, not to mention labor-intensive and monotonous. Human effort is highly prone to errors in such tasks. However, AI and RPA do not make mistakes when processing large volumes of data. Since data-intensive processing is a key aspect of many businesses, opting for IPA is the key to improving accuracy rates and minimizing errors.
- Mitigate Operational Risks
When you minimize data errors you automatically limit room for operational risks. People tend to make mistakes when they’re given tasks that do not involve a lot of thinking such as data-intensive processes. When you implement IPA to automate these processes you can minimize any potential operational risks as you have taken human effort and error out of the equation.
- Reduced Costs
Business CIOs typically face unrelenting pressure to increase productivity of the organization while keeping minimizing both operational and capex costs. This is an issue that can be resolved when you implement IPA to get the job done, supporting your teams with intelligent automation. This way your company can enjoy both high efficiency and productivity while reducing costs.
- Better Customer Experience
Intelligent email response and AI-powered chatbots provide a hassle-free experience for customers with quick responses and resolutions. Providing intuitive, user-friendly experiences will boost your CSAT scores tremendously. This improved customer experience is easy to achieve with intelligent automation.
- Staff Can Focus on High Value Tasks
IPA automates rule-based tasks so that your employees don’t need to spend hours on them. This frees up valuable man hours to perform higher-value activities that are better suited to human creativity. Engaging in such tasks can also give your employees a more fulfilled sense of self at the work place and increase morale overall. This gives employees a better sense of satisfaction working on more creative projects that require thought and empathy to get the job done.
The next blog in this series will cover even more benefits your business can enjoy from implementing IPA. If you’d like to explore opportunities where your business can benefit from IPA implementations for hyperautomation, the Rapid Acceleration Partners team would be glad to help. Our next-gen, AI-powered content intelligence platform RAPFlow enables full lifecycle AI orchestration on a single platform. When used in tandem with our RPA solution RAPBot, it provides end-to-end workflow automation capabilities that can be deployed in just weeks. You can even build your own use case and the platform can easily integrate with your existing systems. Book a demo to get a more detailed understanding of how our products can transform your business.