Intelligent Process Automation can do a world of good for your business, and that’s what we’ll discuss here. Before we get into the benefits, we’re going to define the term. Intelligent Process Automation is abbreviated IPA, and can sometimes be called “hyper-automation”. In a nutshell, it’s utilizing modern digital tools to maximize operational functionality via automation.
Basically, digital robotic processes are used in conjunction with practices like process mining. Data is combined and digested by a variety of AI (Artificial Intelligence) programs. Ultimately they identify areas of automation that may have been missed, and then your business can choose where to apply automated software solutions.
What has changed the game with IPA today is autonomous adaptation. That is to say: ML (Machine Learning) which utilizes AI facilitates digital management capabilities that can develop independently of direct management. You can read more about IPA’s contemporary definition here.
When you consider how effective ML and AI have become, it’s easy to see why IPA is so exciting for businesses. Not only do you save money via optimization, but your business becomes a more competitively viable operation as well. Now we’ll go into detail on how IPA will revitalize your business when properly applied.
1. The Autonomous Factor
Because IPA involves software “robots”, it’s also called “RPA”, and that gives a better mental picture of what’s going on. However, it’s a misnomer, because IPA is actually a step beyond RPA. It’s basically a means of using collected learning from RPA application to begin optimization from an experienced starting point.
Ultimately, one of the biggest savings for businesses here is regard time. Because the software can automatically identify points of automation, you don’t have to; nor do you have to hire personnel for the purpose. You can focus staff on more important business prerogatives, maximizing your investment in them. Meanwhile, you may be able to reduce staff needs.
2. Better Customer Service
One of the most important advantages of IPA is better customer service. You can automatically remind them of upgrade needs through API. Also, such software can interact with customers on digital platforms to assure existing or potential clientele get routed to the right personnel in your organization. DMI’s digital transformation services can help.
Basically, instead of hiring a new employee for customer service, IPA can help keep your clients happy. You save money, help clients, and see more business.
Essentially, you’ll be able to be more competitive than other similar businesses that haven’t optimized to IPA, giving you an edge. Since things are trending in this direction, it’s worth it to adopt IPA sooner rather than later.
3. Operational Cost Reduction, Directly and Indirectly
Human error and time both tend to be expensive features of modern business. Your employees, even your best ones, will make mistakes; and fixing them isn’t always something that can be done for free. Also, the repairs will take time. Beyond this situation, something like individually sending messages can be a very big hassle.
IPA does what businesses intend consistently, and continuously, without human error. Ultimately this saves time. Time is money. When you crunch the numbers, the more effectively you integrate IPA into a business, the more you can save. IPA installed in an industrial capacity may save hundreds of thousands of dollars a year.
If you run a cost-benefit analysis, it’s easy to see where these savings are. For a small business of twenty, IPA may replace one or two employees. One salaried employee at $50k is a lot of money. Any IPA less expensive than that has more than paid for itself. Also, there’s this: an employee can’t keep the same sort of data IPA software can.
As you automate, you are able to identify Key Performance Indicators (KPIs) that might have been invisible otherwise. So while saving time and money, and optimizing operations, you get information that can help you develop in a more streamlined fashion going forward. As more and more IPA becomes common in business, such data will become increasingly common.
Determining if IPA is Right For Your Business
Because IPA is a cutting-edge technology that is very clearly beneficial to small, medium, and large businesses, it’s something that will very likely continue to define business going forward. As the internet and social media have become core to modern business, so also will IPA solutions.
Cloud computing and Big Data increase available information which can be leveraged toward more efficient business operations. As businesses utilize associated technology, digital automation will only become more and more effective. It’s worthwhile to get involved with IPA now.
Properly installed, the automation IPA can provide will reduce the time and costs involved in managing your business. You’ll be able to serve customers better and reduce operational costs both indirectly and directly.