BUSINESS PROCESS AUTOMATION SOFTWARE
Business Process Automation helps in segregating critical and non-critical processes to automate critical business processes through computing technology and thus increase productivity. It helps in increasing the efficiency of an underutilized workforce by integrating applications for critical processes into the workflow.
Business process automation can be used for simple to complicated tasks. It can be leveraged not only for troubleshooting errors or managing system users but also for managing other functions such as customer relationships, analytics, sales and planning, email-based marketing.
In the current state of the knowledge economy where information is consumed and disseminated freely and widely, its significance has increased. It can help reduce the time of knowledge workers spent on performing routine tasks to focus on higher-level tasks. It will reduce the chances of human-based errors through process automation and foster better relationships with clients.
Based on the nature of tasks which are automated and their level of impact on the decision-making process, business process automation can be divided into four major groups broadly:
- Basic automation
- Process automation
- Integration automation
- Artificial intelligence automation
Basic automation: This refers to creating a centralized place to store information in an organization to increase visibility. This could be a centralized messaging tool or SharePoint which collects data and helps build custom contact/task list.
Process automation: This refers to automating processes related to different functions to ensure task consistency and improve efficiency. There is specialized software to automate different processes (such as customer relationship management software, warehouse management software, project management software, power apps).
CRM software automates customer service, marketing, and salesforce functions. This helps create personalized solutions through email-based marketing, thus enhancing the overall customer experience. Warehouse management software automates functions as order processing, picking, and packing, order fulfillment, inventory management. Project management software automates functions such as creating tasks list, dashboard, setting reminders, creating documents, building a portfolio, and reporting.
Integration automation: This refers to automating tasks performed by humans by integrating them with other software. For example, supply chain management software can be integrated with customer service support.
Another classic example of integration software is ERP system software which can be integrated with different business processes. In 2018, the top three reasons stated by businesses to implement ERP were to improve business performance, position their company for growth, and to reduce working capital. SMBs are increasingly adopting ERP as it leads to a 36% reduction in decision-making time. They prefer using an ERP system instead of standalone solutions as it reduces operational costs by 11%, standardized back-office processes by 77%, and provides real-time visibility of data by 48%.
Digital transformation is the new buzz word because of its far-reaching impact on people, processes, and every aspect of doing business. Business process automation refers to the strategy wherein technology plays a key role in organizing people and processes through workflows. According to Forrester, organizations can cut up to 90% of their operating costs through business process automation.
Business Process Automation helps in segregating critical and non-critical processes to automate critical business processes through computing technology and thus increase productivity. It helps in increasing the efficiency of an underutilized workforce by integrating applications for critical processes into the workflow.
Business process automation can be used for simple to complicated tasks. It can be leveraged not only for troubleshooting errors or managing system users but also for managing other functions such as customer relationships, analytics, sales and planning, email-based marketing.
In the current state of the knowledge economy where information is consumed and disseminated freely and widely, its significance has increased. It can help reduce the time of knowledge workers spent on performing routine tasks to focus on higher-level tasks. It will reduce the chances of human-based errors through process automation and foster better relationships with clients.
Based on the nature of tasks which are automated and their level of impact on the decision-making process, business process automation can be divided into four major groups broadly:
- Basic automation
- Process automation
- Integration automation
- Artificial intelligence automation
- Basic automation: This refers to creating a centralized place to store information in an organization to increase visibility. This could be a centralized messaging tool or Sharepoint which collects data and helps build custom contact/task list.
- Process automation: This refers to automating processes related to different functions to ensure task consistency and improve efficiency. There is specialized software to automate different processes (such as customer relationship management software, warehouse management software, project management software, power apps).
CRM software automates customer service, marketing, and salesforce functions. This helps create personalized solutions through email-based marketing, thus enhancing the overall customer experience. Warehouse management software automates functions as order processing, picking, and packing, order fulfillment, inventory management. Project management software automates functions such as creating tasks list, dashboard, setting reminders, creating documents, building portfolios, and reporting.
- Integration automation: This refers to automating tasks performed by humans by integrating them with other software. For example, supply chain management software can be integrated with customer service support.
Another classic example of integration software is ERP system software which can be integrated with different business processes. In 2018, the top three reasons stated by businesses to implement ERP were to improve business performance, position their company for growth, and to reduce working capital. SMBs are increasingly adopting ERP as it leads to a 36% reduction in decision-making time. They prefer using an ERP system instead of standalone solutions as it reduces operational costs by 11%, standardized back-office processes by 77%, and provides real-time visibility of data by 48%.
Source: 2018 Panorama consulting solutions
Artificial Intelligence (AI) based automation: This refers to adding artificial intelligence to integration software wherein a decision-making process is performed by them. Here, technological support based on its analysis of the data behaves human-like and makes key decisions. For example, AI in manufacturing helps in reducing supply chain errors.
Because of increased focus on creating personalized experiences, big data, analytics, AI and machine learning are being used by large marketers such as Coca Cola, Nestle, TeliaSonera to measure Lifetime Customer Value (LCV).
As per the 2018 Salesforce study, AI is being leveraged to improve customer satisfaction levels and not just better customer experience. Brand Building, lead generation, and customer retention are key areas contributing to AI-driven personalization.
Some of the interesting examples of real-world automation are self-service checkout counters at the supermarket that perform functions performed by a cashier, self-driving electric trucks that can make long-distance deliveries without a driver, bots which reschedules meetings in the absence of the receiver.