By: Zakir Ahmed, Senior Vice President & GM – Asia Pacific & Japan at Kofax
Across the business landscape, companies of all sizes are undergoing a digital transformation, harnessing technology to reinvent themselves, innovate and expand. And with the emergence of low-code automation solutions, technology has become even more accessible, empowering non-technical users to play a bigger role in the digital shift.
Organizations wanting to achieve business agility and innovative digital experiences should quickly look to an intelligent automation strategy. Through document intelligence, process orchestration and connected systems, intelligent automaton unleashes the full power of your workforce, and creates better customer experiences. It delivers the optimization and innovation required for true digital workflow transformation, creating a unified, powerful workforce of human and digital workers who can better engage customers.
What is digital workflow transformation?
Digital workflow transformation is the automation of workflow execution along a high-value business process. It’s achieved by leveraging digital and automation technologies to unlock the power of data, orchestrate human and digital workers, and connect formerly disparate systems.
Enterprises achieving digital workflow transformation are able to:
- Fuel innovation across the entire organization
- Accelerate the speed at which work is accomplished, improving productivity
- Obtain more value from structured and unstructured data
- Become more competitive
- Be more agile and responsive to changing customer and market demands
- Drive efficiencies across remote workforces
To succeed with digital workflow transformation, organizations must identify high-value opportunities for automation delivering efficiencies and a quick ROI. A successful intelligent automation platform automates, optimizes and enables innovative solutions to complex business processes. Intelligent automation paves the way to digital workflow transformation in three ways:
- Document intelligence
In most companies, 80 percent of information and documents are unstructured, resulting in manual and inefficient document processing bottlenecking business processes. That’s why document intelligence is a foundational requirement for digital workflow transformation that’s being used to further automate workflows in complex business processes—including loan applications, employee onboarding, research, patient admissions, sales order processing, customer service and contract management.
It’s important to establish the specific features and functionality that are important. For instance, standalone optical character recognition (OCR) isn’t enough. Digital workflow transformation calls for cognitive capture, combining intelligent document processing capabilities and embedded artificial intelligence (AI).
Cognitive capture uses machine learning (ML), natural language processing (NLP) and workflow orchestration to classify documents, extract information and gain actionable insights from structured and unstructured data. Companies can ingest, classify and extract unstructured information from financial documents, contracts, forms, images and digital assets, which can be transformed into actionable data that’s used to make better business decisions.
In this context, pre-built intelligent automation solutions making best-in-class document processing accessible to non-technical users are the best investments a firm can make. A real-world example: A financial institution used cognitive capture technology to automate the customer onboarding process. Now customers can apply for accounts via mobile device, without visiting a branch. Since intelligent automation was implemented, customer accounts have grown by 50 percent. In addition, the percentage of people who complete the application process has risen from 30 to 80 percent. Cognitive capture made it possible for the bank to grow its customer base and become more competitive in the market.
- Process orchestration
Digital workflow transformation requires organizations to expand workforce capacity across omnichannel workflows. By doing so, they maximize agility and provide superior customer and employee experiences. Automation of manual, repetitive tasks is also key to sustaining a leadership advantage over the competition.
To automate repetitive tasks, many companies are turning to robotic process automation (RPA) for task automation. But while this is an important piece of the puzzle, end-to-end workflow automation goes beyond RPA. It also calls for process orchestration to unite complex-task and deep-process automation within end-to-end workflows.
Process orchestration makes it easy to build, run and manage high-value process workflows at scale, such as:
- New customer onboarding
- Claims processing
- Loan automation
- Citizen service providers
- Supplier management
- Bespoke operational processes
Intelligent automation platforms that include process orchestration enable companies to create digital workflows and makes it easy to add and manage digital workforce capacity on-demand. Companies gain the flexibility and agility to scale as needed and optimize service levels. Employees are freed up to take on higher-value, strategic work that improves employee satisfaction and productivity.
Process orchestration fosters a seamless collaboration between human and digital workers that improves operations and output. In fact, one company used process orchestration to tackle two million contracts and thousands of annual financial claims. The results speak for themselves:
- 75% faster claims adjudication
- 30% boost in productivity
- 25% reduction in customer calls to inquire about progress
- 15% improvement in customer satisfaction
- Connected systems
Connected systems bring together all critical business systems – including enterprise applications, legacy systems, mobile and chatbots – across internal and external business processes. When systems are connected, organizations can streamline data and bring innovative business models to market more quickly. They can also speed automation and deliver a faster ROI.
A robust intelligent automation platform includes capabilities to connect intelligent automation with other technologies and software companies have already invested in. Simple integration with existing applications, databases and web services empower organizations to develop new business models, leverage data securely, and accelerate automation deployment with low-code integration and pre-built connector frameworks.
Digital workflow transformation enables companies to innovate, unlock the true value of data and become more competitive in the market. Intelligent automation technology quickly makes digital workflow transformation a reality with document intelligence, process orchestration and connected systems. As companies map out their strategies, it’s important to select an intelligent automation platform that’s equipped with these capabilities. Intelligent automation arms enterprises with the technology to make digital workforce transformation truly obtainable.