Survey reveals how ‘real’ enterprises are benefiting from an IA platform approach

You can talk as much as you like about the theory of how enterprises are using and scaling intelligent automation (IA). But the real story only emerges when you hear how some of them are actually doing so successfully.

A new survey from HFS Research and AntWorks reveals all. Called Solve the Automation Scale Challenge with Integrated Automation Platforms, outlines how ‘real’ enterprises are leveraging integrated automation technology (what HFS calls a ‘trifecta’ of analytics, artificial intelligence and automation) to drive revenue growth, improve business performance and enhance customer service.

Direction of travel

One senior leader from the travel industry shared his experience with improving customer experience. The company used an integrated blend of AI, analytics and automation technologies to handle customer feedback in near real-time. This resulted in exponential gains in customer confidence in the company’s services through the ability to fulfill customer expectations, also in real-time.

Employee-customer interactions at the company are critical levers of the last-mile delivery of great service experience for customers. Improving employee efficiencies in manual service delivery processes by using IA technologies provided quick insights to the firm’s employees on changing customer needs emanating from near real-time feedback analysis.

RPA is not enough

The survey also reveals that, when it comes to automation, RPA (Robotic Process Automation) is found wanting. One enterprise, Indecomm, extensively evaluated a range of RPA tools and realised early on that end-to-end process automation could not be achieved with RPA alone. It was the combination of document volumes in often unstructured formats, plus the added complexity of state-specific guidelines and formats, that made it challenging.

They needed a broader set of integrated capabilities and a lot more flexibility. From a functionality standpoint, their leader described his ideal solution as “an automation factory enabled by a platform that can ingest necessary documents regardless of source, correctly and quickly identify them by type, state, etc., intelligently extract the necessary information, and then assemble curated data and route it accordingly.”

The company found that an Integrated Automation Platform (IAP) could ingest numerous documents and successfully recognise and extract key data from various loan estimate documents.

Subsequently, Indecomm rebranded and enhanced the capabilities of its AuditGenius SaaS-based platform, which conducts loan audits and mortgage risk management using cognitive automation to ensure all required documents - often 500-plus pages - are processed successfully and semantic extractions are accurate and effective.

Benefits realised

Mercer, a human resources consulting and services firm with considerable business in the benefits space, also features in the research. Mercer’s consultants had to extract and analyse data from proposals sent as PDF, memos, emails, etc. This involved a high degree of manual intervention and was prone to errors.

Using an IAP, they achieved significant productivity gains through a reduction in the manual work involved in capturing data - and consequently increased the utilisation of resources in analytical activities.

Banking on success

At Kotak Mahindra Bank, the benefits from an integrated automation platform approach proved to be tangible, according to the research. The bank’s teams set clear success parameters of more than 75% business efficiency through easy and integrated workflow management and an ROI payback within one year.

The platform delivered the integrated workflow management solution within the timeframe and also made the team confident with using the different technology elements from the platform to develop further use cases.

Clear benefits

These use cases are supported by one major statistic from the survey - that 70% of enterprise leaders think that an integrated approach across AI, analytics and automation will:

  • help them achieve visible gains in end-to-end process performance and efficiencies, and

  • scale-up adoption across the enterprise, rather than confining the benefits only to specific tasks within some functions.

And more than one-quarter of leaders, according to the research, are looking at intelligent automation technologies as key transformational levers for new and unprecedented business gains and value metrics.

Looks like the future of integrated automation looks bright.

Click here to download a copy of the survey