Claims Processing Automation: Power Up Your Digital Transformation
Findings from the Kofax 2022 Intelligent Automation Benchmark Study produced by E.I Studio, the custom division of Economist Impact
Where to Start
Where will business leaders first put intelligent automation to work?
Drivers of Onboarding Process Automation
Specific reasons for automating onboarding processes are:
Respondents said they anticipate bumps in the road when it comes to harnessing existing systems and data to fuel their automations. The most common challenges companies face when implementing onboarding automation include:
The Anatomy of High-value Workflows
Executives are examining their critical workflows, including onboarding automation, and identifying the data sources and procedures they believe are ready to be automated. Respondents say there’s a common thread across these strategic workflows.
Transforming Data into Intelligence
Data pulled from multiple sources—the web, internal systems and various documents—is key to critical processes driving business. Respondents said their onboarding automation ambitions are powered by:
Important for those surveyed was ensuring ongoing orchestration of automated processes to ensure systems run smoothly, especially considering shifting regulations that govern their industries. Executives said their onboarding automation processes require ongoing effort to:
To support their onboarding automation processes, executives said they were prioritizing robust connections between systems, data and applications that work alongside each other. The most cited applications that must be connected are:
Increased efficiency was the most frequently predicted outcome of digital transformation, alongside boosting employee productivity, achieving competitive advantage and lowering costs. By automating their onboarding workflows, respondents plan to:
Continuing Automation Efforts
Executives said their digital transformation efforts have room to grow, as their onboarding workflows were still partially or entirely manual. None of those surveyed has fully automated onboarding.