Intelligent Process Automation: Business Use Cases
New-age technologies have changed the way businesses operate. To stay ahead of competitors in this modern-day business landscape, a business needs to invest wisely when it comes to technology adoption. CXOs in a business organization should be aware of modern technologies that can enhance the productivity of their employees and processes. They can help an enterprise connect with end-users in a better way and boost service availability. Intelligent Process Automation (IPA) is among the many technologies that have introduced innovations in the industry.
Business processes which are dependent on manual labor cannot help an enterprise achieve maximum service availability. With automation tools for service desk and other departments, you can maintain business continuity without manual interruption. IPA induces automation in business processes and ensures that employees are freed from performing manual and monotonous tasks. IPA works well in coordination with other automation technologies like RPA (Robotic Process Automation), DPA (Digital Process Automation), and AI (Artificial Intelligence) to boost the productivity of business processes. AI, ML (Machine Learning) and deep learning form the core of IPA tools that automate business processes.
Due to its compatibility with other automation technologies, IPA is preferred by CXOs and reliability engineers. Digital Process Automation provides you with high-end insights that you use to automate business processes with IPA. Robotic Process Automation is responsible for boosting the efficiency of the business process that is automated with the help of IPA. AI is used in IPA to take intelligent decisions and complete business tasks without manual interruption. An amalgamation of several automation technologies can be found under IPA. The main aim of IPA is to decrease the manual efforts required for completing business processes.
How IPA helps organizations?
- IT automation with AI tools can help an organization coordinate manual and automated workloads. Your employees can work in coordination with automation technologies to achieve high service availability and reliability.
- You can free your employees from performing the same repetitive tasks every day. With IPA, you can free employees from monotonous business processes that need to be completed daily.
- IT automation with AI tools also helps in taking better business decisions. With IPA, the chances of errors in business processes are reduced significantly. Your employees may commit mistakes but, IPA will not. This boosts your service availability and overall productivity.
- You will gain higher visibility into your business processes with IPA. You can identify constraints and obstacles in your business processes. IPA can also be customer-centric and help you build better relationships with customers. The flaws in your business offering that drive the customers away can be determined with IPA.
- End-to-end processes in your organization can be paced with the aid of IPA. IT automation with AI tools leads to achieving business goals in less time.
Use cases of IPA in the industry
Almost all industries are investing in IT automation with AI tools. As different industries are undergoing digital transformation, the role of IPA has increased.
- AI-led operations management services in healthcare are gaining popularity rapidly. Pharmaceutical and healthcare firms are involved in intense paperwork for various processes such as admissions, discharge, doctor appointments, and many others. IPA can help healthcare organizations to eliminate the need for manual labor for such processes.
- Insurance and lending models are using IPA to create effective credit models. IPA is also being used in the FinTech industry to know about customer preferences and introduce financial services accordingly. Financial firms have claimed to slash 20-25% of their overhead expenses via IT automation with AI tools.
- Insurance companies are using IPA to create intelligent chatbots for improving the customer experience. Customers can choose an insurance policy with the help of pointers displayed by the chatbot.
- Construction and manufacturing firms are depended on IPA for managing autonomous vehicles and machines. They also rely on IPA for invoicing, billing, and maintaining survey reports.
- AI in operations management service is also used by the retail industry for numerous processes. The retail industry uses IPA for sales analytics, reverse logistics, and supply chain management.
Challenges in using IPA for business processes
- If you are using an IPA software system for automating business processes, you need to monitor its performance. Your IPA software system should be healthy and running all the time to boost service availability.
- The lack of skilled individuals who can handle IPA or other automation tools is a concern for organizations.
- IT automation with AI tools can protect you from data breaches and cyberattacks. However, nowadays are hackers using advanced techniques for breaching an IT network. You need more sophisticated tools for securing your AI-led IT infrastructure
- You still must harness the power of your legacy tools to gain maximum efficiency. Businesses need to manage manual and automated workloads for better efficiency.
Using AIOps and IPA together
Organizations are using AIOps based analytics platforms that work well with IPA. AIOps can monitor your IPA system rigorously and identify new threats. Advanced cybersecurity threats can be identified in real-time with AIOps. You can collect data about the performance of your IPA system with AIOps. Not to forget, the high-end data analytics performed by AIOps based analytics platforms helps during IT issues/disasters.
The AIOps industry size in the world has already crossed the USD 10 billion mark and is expected to increase in the coming years. You can also automate your business processes with AIOps based analytics platforms and IPA. Identify the monotonous business tasks and automate them with IPA!