Managing business processes has gone beyond automation based on simple tasks in the digital world. Today’s organizations are realizing the need for business process management (BPM) systems to meet customer and marketing needs for speed and quality at a low cost. This means an end-to-end digitized process that combines BPM solutions with robotic process automation (RPA).
However, to ensure success and long-term viability, companies must ensure that their RPA and BPM solutions are organized through a single comprehensive platform.
The current issues
Companies around the world spend about $230 billion on business process management. Although RPA and BPM are powerful stand-alone tools, organizations are missing out on many transformational benefits if they do not leverage the power of these solutions when used together. Any adopted platform should take advantage of the support of other advanced technologies such as machine learning (ML), artificial intelligence (AI), intelligent document processing, and human capabilities in the loop.
It is also important that the platform includes process intelligence tools, such as process analysis and process mining, to prioritize BPM and RPA streams and provide performance monitoring capabilities. Companies that combine RPA and BPM on a single AI platform can create opportunities for competitive advantage if they are willing to invest time and resources to find the right process and implement it successfully.
Technical fees add up
Seamless digital integration is more than just tinkering with the best digital solutions on the market. How these advanced technologies interact makes a big difference. Technologies designed to work together are key to realizing the productivity benefits promised by digital transformation. With a complete platform, organizations do not have to worry about creating connections because the platform already includes them.
In addition, a single system is easier to buy and manage because it comes from a single licenser instead of going through the procurement process with multiple vendors. Companies need to be careful when determining which AI platform to adopt. The benefits of a comprehensive platform are increasingly being recognized by retailers and their customers, driving retailers to implement multi-functional automation platforms. If the company chooses a platform that is not sufficient for their needs, they are facing adjustment costs down the road.
Still, let’s assume that organizations have already acquired the skills and are looking to restart their digital transformation journey. In this case, the right partner can help them reduce renovation expenses to get the most out of it.
A working platform
By combining the capabilities of RPA and BPM, organizations can achieve maximum. With BPM and RPA, organizations can streamline processes and avoid the inevitable human errors that result from manual data entry. This is especially important in health care and financial services. Errors in financial services can cost companies and their customers’ money and lost investment opportunities. The cost is high even in health, where patients’ lives are at risk. Here, data errors can confuse patients, get the wrong medicine, and even cost lives.
With BPM and RPA solutions, patient appointments in the healthcare system can be prioritized and reminders can be sent to prevent no-shows. This ensures efficient use of resources in companies with tight margins. Businesses can easily manage customer investment accounts in the financial services industry, increasing productivity and efficiency.
Avoid these common mistakes
As with any toxic technology, a solution will work best if it is applied and integrated correctly. One of the advantages of a single platform is that the time to use is faster because users only work through one vendor. A central point of excellence to oversee and support an organization’s digitization strategy, including RPA, BPM, and other AI tools, must be in place to ensure its success. Management support helps in developing automation programs. Such a top-down approach will ensure that the necessary resources and work culture are provided to promote successful digitization.
Digitization is growing
More than 65% of business leaders are increasing their investment in automation and AI. As we move forward into a digitally driven future, adapting individual processes is no longer enough to deliver the desired business results. Instead, to make more impact, the end-to-end process will be modified. With the power of BPM and RPA integrated into an intelligent automation platform that provides support technology, these goals can be achieved seamlessly and cost-effectively.