Figure 2: Emerging technologies affecting organization’s success via employee engagement
Figure 2 explains the cycle of enhancement in employee engagement, which in turn improves the organization’s performance. Technologies like Robotics/Intelligent Process Automation assist in automating mundane and repetitive tasks, which creates capacity in the workforce for productive work and overall cost reduction with adherence to compliances. UiPath, a leading robotic process automation (RPA) vendors, has saved over 700 man-days per annum for one of their professional services client while improving productivity and accuracy. Cognitive OCR (Optical Character Recognition) solution digitizes the document/invoice data for faster digital transactions with a cognitive decision-making algorithm. This frees up workforce from the data conversion task and reduces the overall handling time with accuracy. A dominant leader in the OCR space, ABBY, has assisted in creation of accurate and automated invoice processing system for a leading BPO organization with paperless environment
Cloud & Analytics technologies not only help in data management and extracting meaningful insights from the underlying data but also suggest quick actions for the users through cognitive levers. Collaborative meeting solutions enable remote encrypted connectivity across organizations for seamless business communication and knowledge transfer. Hyperautomation solutions comprise of technologies like process automation with intelligent OCR and advance analytics, working in tandem to produce maximum use-case productivity and improving customer experience and satisfaction.
The upcoming 5G market aims to subsidize the technology for deeper penetration across the globe. This will affect the efficiency of working remotely and boost employee productivity.
The resilient future with digital
We are enduring challenging times, wherein businesses need to create robust business strategies to survive and sustain. Deploying digital technologies would help make the businesses more resilient to impacts from disasters like a recession or a pandemic.
Simultaneously, employees will also need to upskill to ensure they are competent enough to keep up with emerging market trends. The workforce needs to align with the organization’s shifting mission and vision to be sustainable in the long run.
Emerging technologies like enterprise-level process automation with customer relationship management, hyper-automation using collective solutions of AI, ML, and RPA, and advanced analytics have been the vital drivers propelling industries towards improved efficiency and enhanced customer experience. It has affected the lives of employees across the globe in a better way.
Organizations were always in need of digital technologies for enhancing efficiencies and the COVID-19 pandemic has acted as a catalyst in accelerating the transformation.