Organizations adopting intelligent automation across the enterprise are turning to finance as one of the best places to start their digital transformation. According to a recent Forbes Insight survey, “financial transactions or reporting” was listed in the top five most frequently automated processes. But what is IA and what does it do for finance and accounting processes?
Organizations depend on a variety of processes to get things done, including opening new customer accounts, financial reporting, and tracking/scheduling shipments as a few examples. When these processes are handled quickly and efficiently, they deliver meaningful benefits that impact revenue and growth, including enhanced service levels, lower operational costs, and higher customer satisfaction.
According to a recent report by the Everest Group, “a platform of tightly integrated, complementary technologies is what enables end-to-end automation and scale for organizations.”
But what is the pathway for businesses seeking to say goodbye to business as usual, redefine their workforce and digitally transform across the enterprise?
True digital automation requires more than just RPA. Customers need complementary technologies to automate the entire process journey – from content capture and data injection, to process orchestration, to advanced analytics informing business decisions. RPA is not the end-game; it’s just a piece in the intelligent automation puzzle.
Similar to their peers in other industries, manufacturing organizations are moving away from “the way things have always been done” and toward “working like the digitally transformed businesses of tomorrow.”
In an age of “click and get it done,” customers are conditioned to expect business interactions to be simple, speedy and convenient. Applying for a credit card, for example, should be as seamless as snapping and sharing a photo from a smartphone. But if a business asks you to send documents by fax, email or mail/post? That’s very frustrating. Proving identity shouldn’t be so tedious.