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Businessworld: Cognizant’s Assistant Vice President of Business Process Services Says Intelligent Automation is a Goldmine of “Money” and “Meaning”
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“Processes are becoming digital, instrumented, analyzed, and increasingly operated by smart machines and code working in tandem with humans,” writes Robert H. Brown. “As a result, we have arrived at a profound inflection point in how critical business services will be sourced and delivered. By harnessing the power of technologies that automate knowledge processes—those that augment and complement smart people—organizations can realize business process insights in far greater fidelity.” Excerpts:
“Data today has the power to impact every meaningful aspect of business operations and produce positive disruption, right at the process level. Harvesting and analyzing the right sets of data can augment the ability of businesses to predict rapidly changing operational and commercial demands. As smart machines drive artificial intelligence and outcomes such as machine learning (or even deep learning), this is truly “Intelligent Process Automation” (IPA), which drives new insights, value and outcomes for businesses.
The insights gathered from IPA are about the interplay of smart “robots” for knowledge processes that can unlock data, which makes smart people even smarter. This is happening most predominantly among software tools performing repetitive and rote processes. By automating these tasks, costs decline, while speed and accuracy rise. It also means that the people essential to the process can do more in less time.
These outcomes are welcome. But the true “intelligence” of digitization through IPA lies in the rich data and metadata that accumulate around process value chains. When real-time insights are gleaned from that data and fed back into the process—through analytics, artificial intelligence and machine learning—real transformation can begin as IPA discovers patterns, and smart people can recommend an appropriate course of action. Here’s how businesses can leverage process analytics to improve decision-making:
Go beyond simply automating, and make processes digital from the outset: A full digital re-think may be crucial to transforming core processes. Digitizing one or several pieces of an industry process value chain can impact the health of the whole business.
Pick your process pressure points for success: Review in detail your processes as they exist today. Infuse a plan for process change, including the applicability of driving analytics by re-imagining moments of customer engagement or constituent journeys. Target tangible process metrics.
Calibrate where, how and when smart technologies like automation can complement the workforce: Start by giving employees access to digital processes and machines that help them do their jobs better, smarter and with more meaningful impact to the business. It’s about outcomes and making smart people even smarter.
Make “meaning-making” mean something powerful—fueled by process data. Focus on a specific business process, on work that shapes at least 10% of your costs or revenues. To seize competitive advantage, look at the data that is—and could be—exchanged and used for value.
Organizations that can master smart robots tethered to smart data will outpace their rivals. The real benefits of IPA will happen only if organizations use rich data insights about their businesses as a force-multiplier to empower the productivity, decision-making and agility of smart people.”
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