In recent years, the software robot revolution has shown how robotic process automation (RPA) unlocks the value of electronic data previously trapped in internal and external systems to make it easily accessible, manageable and useable. It has also proven to be a valuable digital coworker to human employees in streamlining operations and expediting key business activities that serve customers.
Business Process Management (BPM) or Robotic Process Automation (RPA)--which to choose? The right choice depends on the challenge you need to overcome, and surprisingly, the right answer is often "both." This is particularly true as digital business transformation increasingly moves toward embracing the full spectrum of intelligent automation capabilities (such as machine learning and intelligent OCR).
For businesses to execute with speed and efficiency in their industries, they need to process all this information at the speed of which it is received. And because the growth of information has surpassed the enterprise’s ability to rearchitect its systems, many of the processes associated with the management of information require manual human manipulation—human interactions that are being stressed.
Welcome to the second blog in our series: Kofax Conversations – Thought Leaders Talk “What’s Next” in Digital Banking. Throughout our series, we are featuring exclusive interviews with industry experts to help create a snapshot of where banks are on the digital continuum, where they’re going and the steps they’re taking to get there.
While electronic invoices and invoice automation are increasing in popularity, it’s just the first step in modernizing cumbersome financial processes.
AIIM’s recent research in the State of the Industry report identified “digitalizing” core organizational processes as currently the most important practice area for organizations relative to achieving their digital transformation goals.