Over the last two decades, companies have been trying to leap-frog and embracing technology to shift from tech-laggards to tech leaders or at least be at par with the competitors. Almost everyone have invested in implementations of enterprise resource planning (ERP) software, large-scale custom systems or any other IT solutions to digitize & transform their core business processes . Some IT solutions could provide tangible benefits, but most created unintended side effects such as subpar user experiences, unwanted maintenance headache and more.
True leaders could sense that inefficiencies that arise from the back office — legacy systems, soiled data sources, manual and disconnected paper-based processes — can have a significant impact on productivity and poor customer experience. They invested in Disruptive Technologies – like IA Intelligent automation RPA+AI – to re-invent their business operations by bringing in optimizations.
The back office provides vital support and administration to the business and can help create service differentiation with business functions such as IT, HR, and finance. According to EY estimates, automation of back-office work could provide companies with savings of about 20% to 60% of baseline full-time employee (FTE) costs.
A survey found that 60% of customer dissatisfaction sources originated in the back office. It is also estimated that 10-20% of all transaction volumes in a contact center are the result of execution issues in the back office.
Intelligent automation (IA) empowers rapid end-to-end business process automation and accelerates digital transformation. It combines policy-based, rule-based, round-the-clock task execution using RPA with artificial intelligence (AI) and cognitive capabilities —such as computer vision, natural language processing, and fuzzy logic — with processes and performance analytics.
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Augmenting RPA with AI technologies expands the possibilities of back-office automation to include nearly any scenario, including a Digital Workforce that can reason and make decisions and learn on the job to become valuable resources in your human workforce.
With automation, many mundane, repetitive, cumbersome, error-prone, time-consuming, less productive (for a human tasks) in back-office areas such as procurement, finance and accounting [payable & receivable management ], HR & Payroll [employee onboarding, employee Data Management, salary slip generation] , reporting, supply chain, and business services center [IT Service Desk] can get done quickly, accurately, cost-effectively, and more efficiently.
Organizations will continue to adopt more automation as they redefine the way tasks are being allocated and performed in the back office. IA will be applied across functions and boards, profoundly impacting and transforming the way work is done today. Automation can handle business processes end-to-end, tackling even complex tasks. This not only enables human resources to engage in more qualitatively higher-value added job and thus become more productive but also helps them get out of boredom of doing monotonous less valuable job.
Read here: Which ERP is the best for Business?
At the end of the happy employees creates culture of achieving success with little help from Management decision to implement IA that works as PA [Personal Assistant] for each key executive and give them enough reason for becoming more productive.
In Softweb we have developed a MyPA suite on top of our ERP [ PACE / PACE360 ] to help our client become future ready with Intelligent Automation that is very much cost effective.
