Think before you leap
Some hi-tech providers are embarking on an enterprise wide transformation of processes to support new business models. For instance, we are helping a leading software major design, build and implement future state systems to easily offer subscription services. The architecture will also ensure rapid integration for future acquired entities. Our platform with a ‘fit for purpose’ approach will help the client simplify business processes, enable ease of doing business, and reduce the cost of doing business. In addition, we are helping them achieve optimal balance between product functionality and experience by defining processes through iterative pilots.
Most enterprises focus first on automation as a cure-it-all solution; however, there is a catch. In a rush to automate existing processes companies often forget to validate whether the process is even relevant in the new reality. And that is setting up for failure right there. It’s critical that companies focus on business transformation before they take up automation to avoid a ‘garbage in garbage out’ scenario.
Let me give you an example. A company wanted to automate their billing process. However, their existing process of invoicing the provided services was not able to provide a differentiated user experience. It was also repetitive, and effort intensive. Merely automating it would not solve the fundamental issue. To solve this, they first needed to reimagine the entire process, smoothen the journey, and then automate it for swifter execution and accuracy.
Process automation for accelerated advantage
With new business models, hi-tech is experiencing new levels of complexity, and companies want to quickly automate processes to bring in accuracy, speed, and economy. Robotic Process Automation and AI (Artificial Intelligence) are leading the charge in creating intelligent processes that require minimal human intervention.
Key business processes across the front office and back office are being transformed by combining RPA and AI. For instance, leveraging intelligent customer support could lead to 30% reduction in tickets, similarly automating marketing operations and campaign management could enable consistent and seamless product experience across the globe.
Making an informed choice
Let’s look at how a company can decide on which processes to automate based on current levels of automation and insights needed to execute that process (see Figure 1).