Database examples

8 Examples of Intelligent Process Automation | by Camila Cox | Sep 2022

Read the main benefits of intelligent process automation and implement them!!

Photo by charlesdeluvio on Unsplash

Intelligent automation is becoming increasingly popular among businesses as a way to increase production and reduce costs. The applications of intelligent automation are numerous.

This article will examine 10 examples of intelligence business process automation software that can revolutionize your business.

Before going ahead, you should know about intelligent process automation in order to get detailed insights.

The application of technology to automate or optimize processes using machine learning and artificial intelligence is known as intelligent process automation. IPA solutions can automate business processes while reducing human involvement through artificial intelligence (AI).

IPA solutions go beyond simple, rules-based operations. For example, IPA solutions can use artificial intelligence to manage unstructured data, which many RPA software are unable to do or provide IT resources to ensure critical SLAs are maintained. Another illustration would be the use of machine learning techniques to improve task performance over time for the IPA tool.

1. Onboarding and offboarding new employees

Onboarding and departing employees are tedious procedures that consume a lot of resources. It is necessary to assign new assignments, execute documentation and train new employees. Obtaining a resignation letter, processing payment for unpaid wages and expenses, and ensuring the safe return of company assets are typical tasks associated with employee relocation.

Organizations can ensure that all necessary onboarding and de-integration procedures are performed using intelligent process automation. For example, when hiring new employees, everything they need to do their job, such as access to a computer and a security card, will be made available to them.

2. Cross-selling mortgages

The mortgage financing industry is very fierce. About 40% of all mortgage originations are done by three banks: Wells Fargo, Bank of America and Chase. Those still vying for the remaining roughly 60% of the market face high customer acquisition costs. Despite these challenges, most banks have neglected their current customers, who may be their most valuable asset. In reality, only 20% of customers obtain a mortgage through their primary bank.

Due to these factors, a growing number of banks are using smart automation to cross-sell mortgages to their current customers. Large volumes of customer data are used by intelligent automation technologies to find cross-sell opportunities. The system, for example, can alert bankers when customers display specific behaviors suggestive of a home purchase. A relevant action may be an action that alludes to a change in employment status (i.e. a new source of deposits). Once alerted, bankers can contact customers using the best means of communication based on their data profiles.

3. Purchase to payment (P2P)

Traditional procure-to-pay (P2P) processes include many time-consuming and repetitive tasks. Evaluating and selecting suppliers as well as extracting billing and payment data from various sources and systems are examples of typical P2P tasks. Examples of systems include CRMs and ERPs, while third-party sources can include things like banks, suppliers, and logistics companies. Due to the lack of integration, staff must perform manual tasks.

For these reasons, many companies are using intelligent automation to increase the efficiency and economy of their procurement procedures. Automation of robotic processes (RPA) helps streamline crucial P2P processes such as purchase requisitions, purchase orders, invoice approvals, and vendor management by solving integration issues.

4. Product Lifecycle Management

The discipline of product lifecycle management is not new. However, shorter development cycles coupled with changes in the way we work have re-emphasized its importance. Organizations must effectively manage many moving parts for product lifecycle management. To keep things running smoothly, established and efficient workflows need to be in place.

Managing product lifestyles benefits greatly from intelligent automation. Several cases include:

  • Detect workflow bottlenecks
  • Identification of raw materials
  • streamlined communication channels
  • Features for efficient inventory management
  • lower costs thanks to the reduction of administrative tasks

5. Quality control

By some estimates, the total hidden expenses associated with quality management can be as high as 20% of the total cost of the goods supplied. This is because manual quality management processes lack process visibility and are difficult to control.

Stakeholders now have easy access to staff tasks and performance information in one place through intelligent automation. Additionally, organizations can use automation to interact with a document management system and run tests faster and more accurately.

6. Ad and Campaign Approval Process

Organizations can design workflows for automated approval procedures using intelligent process automation. Marketing team members can easily submit an electronic approval request. The employee will be notified when the request has been accepted and forwarded to the authorized team member for review. Within hours, campaigns can be approved and launched rather than having to wait days or weeks for a signature.

7. Customer Onboarding

Organizations can drastically reduce manual activities through intelligent automation, speeding up the onboarding process. Examples of the use of automation include automating communications with customers and extracting data electronically from documents using robotic process automation (RPA) (i.e. say automated welcome emails).

Eliminating costly errors from manual data entry procedures is another way organizations can increase compliance.

8. Inventory management

Complex back office activities are streamlined by automated inventory control systems. Organizations can automate their supply chains, track inventory, manage shipping and fulfillment, and sync omnichannel order and inventory data with best business process automation software.

Automated inventory control will be even more crucial as businesses continue to expand the range of goods and services they offer.

I hope this article has demonstrated to you the wide range of applications and benefits of intelligent automation. There are already so many tasks that can be made more efficient with these technologies.

So, if you are going to start implementing these technologies in your business or organization, consider the intelligent process automation examples.

To complete this process, you need to choose the smart business process automation software!!