Tag: Process Automation
Businesses are always on the lookout for ways to optimize processes and gain greater visualization. When processes work efficiently, the output of the product is higher. This leads to workflows that run smoothly with minimum errors and higher capacity. A good reason for the growing popularity of process automation and visualization.
Automation and visualization are the future of the business strategy. Gone are the days of carefully filling in graph paper by hand. Today, process automation and visualization help enterprises up their game by allowing access to real-time models capable of accurately capturing the nuanced data sets.
In this blog, we will expand on how enterprises can up their game with process automation and visualization.
How Enterprises Can Up Their Game with Process Automation and Visualization
Data visualization enables human operators to manage vast sets of data, glean insights from different information sources, and perform operations more intuitively and strategically.
In the current data-immersed world, data visualization can significantly add value by conveying large datasets visually. What does this mean for your business? This means a better grasp of critical customer data.
According to the IDC, the collective sum of the world’s data is predicted to grow to 175 zettabytes by 2025. Processing such large amounts of data can become a problem.
By allowing automation and the right programs to sort out your business data, you can generate graphs. You will be able to use these graphs to up your game in business competition.
Data visualization offers businesses the hope of getting a grasp on data. Fortunately, the human brain can process and recognize trends, identify potential issues, and forecast future development from clear visual displays.
Read more: How Powerful Is Data Visualization With Tableau
Look Out for Upcoming Powerful Trends in Automation and Visualization
1. AI and ML
Artificial Intelligence and Machine Learning render visualization more accurate and efficient. These technologies enable businesses to handle customer feedback without bias. Process automation allows you to sort the feedback in real-time and according to your specifications.
2. Unlock Big Data with Data Democratization
Large amounts of data are hard to understand. It requires data scientists and other experts to unlock its treasures. Not anymore. Advanced no-code data analysis platforms can automate your data process. This is called the democratization of data.
Democratization of data leaves it malleable and easy to display allowing your employees any level of tech support. When this is paired with the data visualization type, it can unlock big data results for teams at all levels of your organization.
3. Video Visualization Is Here to Stay
Young and old alike tend to retain the information they see over what they hear. This would mean that video infographics will be the future.
Video applications for business strategy and customer retention are key areas for future strategic data visualization implementation.
4. Real-time Visualization for Early detection
Knowing a problem at the exact moment it arises can assist businesses in customer retention and brand presence. Early detection can have a dramatic impact on the bottom line.
Process automation can help run a dashboard that allows users to submit their error reports to your customer support. Then the reviews can be tagged and analyzed using sentiment analysis.
5. Mobile Optimized Visualization
An increased number of people access the internet on their mobile devices. Your business needs mobile-optimized data visualization to stop customer churn.
It enables you to know if your potential customers are learning about your services through social media or an online review board. Though mobile-optimized visualization is an easy step, it is critical to keep your business on top of the game.
Read more: 7 Awesome Data Visualization Tools
Business Applications of Process Automation and Data Visualization
1. Financial Service and Insurance
The finance service industry is a prime candidate for process automation and data visualization. Two top requirements of this industry are customer response time and compliance with strict regulations.
When automated, quick decisions can be made based on pre-defined rules like loan applications, claims processes. businesses can use data visualization to make reliable predictions or risk calculations in the financial industry.
Insurance fraud can cost billions of dollars damage. Process automation and data visualization can improve fraud detection.
Read more: Deploying RPA for Finance, Healthcare, and IT Operations.
2. Distribution and Logistics
Process automation and data visualization can minimize costs by planning transport promptly, reducing costs of downtimes and maintenance.
3. Sales
Data visualization can greatly improve relationships with your customers. It helps you know the needs of your customers better, and address each of them directly in real-time.
4. Marketing
Data visualization and process automation can reduce marketing costs substantially. These technologies can help evaluate the demographics, location, transactions, and interests of your customers. Visualizing these details can help you understand their purchase patterns.
Thus, data visualization can be used to create and target new customer segments. Cross-selling is another advantage. At the same time, data visualization may reveal that customers are dissatisfied. Identifying this and responding quickly can counteract the situation to retain your customer base.
5. Healthcare
Process automation and data visualization enable cheaper healthcare. It can help predict disease occurrence and proactively propose countermeasures.
6. Science and research
Visualization enables the evaluation of the data of an experiment. Process automation and visualization can be advantageous especially when an experiment generates large amounts of data within seconds.
7. Production
Large amounts of data are generated during production. Using process automation and visualization can help plan preventive maintenance and prevent production delays or downtimes.
Prepare Your Business For The Future With Fingent
Fingent helps enterprises automate document-based processes. We can help you create safer sharing and collaboration. Our platform allows you to create teams, assign roles and privileges, and streamline communication.
Fingent’s partner integrations allow you to use it together with your existing software. Our top-level measures protect our users’ data. The encryption we provide ensures content integrity and prevents alteration.
Fingent top custom software development company can help your organization reach the goal of paperwork elimination. Doing so can lead to efficient resource distribution throughout the organization.
What’s more, it reduces carbon footprint. Our experts bring along specializations supported by scientific rigor and in-depth knowledge of advanced techniques to design, develop, and deploy solutions for process automation and visualization.
Give us a call today and let’s get talking.
Transforming Businesses with RPA- Leading Use Cases in HR and Banking
Various organizations use RPA tools to automate simple to complex tasks and perform them with minimal or no human intervention.
From an IT perspective, you tend to bucket all RPA uses cases into data integration or testing. However, from a business perspective, you need to find out how to get a better time to value and how to overcome obstacles that hinder the business value. Then you can determine use cases that fit into this characterization.
For example, you want to roll out a change in your business process, and need integration into another system. You can do that in two ways:
- either through APIs and get into the IT changed management routine,
- or by using RPA to drive interfaces without an API and get the change rolled out in weeks instead of months.
So, time to value is the calculation that businesses need to do, and check whether the change is worth it.
Read more: What Makes a Business Process Apt for Automation
Suppose you have to perform tasks that are very repetitive in nature – like filling in excel forms, web forms, things like visual basic or word with data which you already have access to, or which you need to aggregate from various systems. Here you can have an RPA bot to pull that data or even push out that data to multiple systems. You won’t have to rekey that information manually. You can always use an RPA bot to do that in an automated fashion. In both these cases, you can write integrations or you can have a system do it for you.
RPA gives you a way to configure that behavior rather than write a code for it. In other words, RPA use cases need to be data-intensive, rule-driven, and repetitive. The drivers almost always tend to be time to value, time to market, and so on.
Now that you’ve understood where to use RPA in your business, let’s have a look at some of the use cases.
RPA Use Cases in HR
According to UiPath, 40% of your HR professionals’ time can be reclaimed using RPA. Robotic Process Automation can be combined with your existing HR systems like SAP or Workday that allows you to create digital process automation with ease. Here are the two key HR areas where automation leads to transformation.
1. Payroll:
Payroll operations consist of a large number of repetitive, rule-based tasks with activities like data collection, calculations, and scheduling tasks. Payroll workers have to collect data from various departments or units in different formats. The next step is data validation and entering that information into other applications. All these tasks are prone to error.
These activities can be automated using RPA technology since all the data that payroll staff deals with is structured. RPA can make payroll more organized without using expensive software.
The benefits of RPA in payroll are improved accuracy, lower costs due to reduced manual labor and data security. Since the number of menial, time-consuming tasks performed by employees is reduced, they can focus on tasks with higher strategic value.
2. Onboarding and offboarding:
Every time you get a new employee, the candidate’s details have to be uploaded to all systems that you use. They may need a Windows account, access to your time reporting tool, email addresses, IT equipment, and so on. If someone from the HR team manually enters all this data they would be stuck in mundane tasks. Instead, you can have a script doing these repetitive tasks. With RPA, you can automate the entire onboarding procedure since the process is the same for every new employee.
Employee exits too, have to be managed consistently. Manual processing makes these tasks error-prone and may raise auditory concerns. If RPA is implemented in this case, the bot analyzes the incident to find out which tasks need to be executed. It notifies the IT team to terminate access and recover the equipment, terminates the employee from the HCM, revokes system access, generates exit documents, and processes final payments.
Read more: Jaw-dropping Facts about Robotic Process Automation
RPA Use Cases in Banking
A slow economy and rising customer expectations have caused banks to look for cost optimization methods. The back-end processing activities in the banking sector consist of tasks that are rule-driven, repetitive, labor-intensive, and high in volume. RPA technology can help to automate these processes, thus eliminating the need for human intervention. Here are the two major banking functions that can be automated for improved results.
1. Loan application processing:
The processing of loan applications is a tedious process. For document verification, employees need to manually verify different documents and associated information and then organize all data into a single file. Very often, employees get stuck in this task and spend too much time on it. RPA employed in this procedure can automate the whole process by opening different web portals and validating the information. The bot then initiates an email to the employee for a final decision. Thus, the bot helps to save valuable time and improves the time to client response.
2. Account opening:
The account opening process is cumbersome, time-consuming, and prone to errors. RPA can help speed up this process and make it more accurate. Bots draw out information from forms and enter it into separate host applications. Thus RPA eliminates errors and improves the quality of data in the system.
Read more: How Robotic Process Automation Simplifies Business Operations
RPA tools have the potential to help various industries improve efficiency, drive faster operations, and reduce costs than most automation techniques. RPA is gaining popularity as enterprises try to counter competition, increase productivity, and meet customer expectations. Early adopters of RPA have reaped its benefits and its high time that you did too. Get in touch with our custom software development experts to learn more about how RPA can simplify your business operations.