Intelligent Automation (IA) is the fastest-growing technology with the greatest power for disruption. In this age of digital disruption, IA is revolutionizing business practices around the world. The rapidly changing business landscape and increased functionality expectations from customers has fast tracked the adoption of innovative applications and newer technologies like IA. With the new wave of digital transformation initiatives, businesses require a new, more intelligent IT that enables innovation, insight and efficiency while reducing cost and eliminating uncertainty.
Intelligent Automation (IA) is the combination of artificial intelligence and automation. Companies are transcending standard levels of performance and productivity to achieve extraordinary levels of efficiency and quality, creating a radical impact. Its applications can range from regular to dramatic. From, data collection, analysis and making strategic decisions to guiding driverless vehicles and advanced collaborative robots to responding to complex medical inquiries, such as a request for a medical treatment plan etc. IA is also used to streamline business processes and make complex decisions faster, for instance, blocking of fraudulent transactions by a credit card processing system. The intelligent automation systems can also process and assimilate vast amounts of information while automating entire workflows – learning, adapting and improving, as they go.
While the concept of automation and artificial intelligence have been around a long time, significant progress in machine learning techniques, sensors and computing power in recent years have marked a new era of innovation. This integration of new and more intelligent platforms into IT infrastructures is a turning point for productivity and digitization.
How Can Businesses Evolve Their IT
Businesses can evolve their IT by leveraging intelligent automation combined with comprehensive data analytics. Organizations can transform their IT into efficient, optimized and smarter operations by leveraging this combination. It makes IT systems capable of integrating newer technologies and responding to the changing business needs in this dynamic business landscape. Accelerating, not only a shift towards efficient scalability but also positively impacting performance, productivity and customer relationships.
This blog delves into Intelligent Automation and Big Data Analytics to showcase how together they can help evolve enterprise IT.
Intelligent Automation (IA)
As discussed, Intelligent Automation is a smart combination of automation and artificial intelligence (AI), with advanced capabilities like machine learning and predictive analysis that enable data interpretation and faster more informed strategic decisions. IA tools makes it possible to better analyze different business environments by assembling information and identifying patterns. Through the study of patterns and erratic episodes, IA creates capabilities that are much ahead of the scripted task bots, because IA tools are capable of analyzing events and behaviors for making predictive analysis. As IA technology deploys machine learning to improve performance, it allows for faster and more accurate completion of tasks.
In sum, IA analyzes data, understands patterns and makes informed decisions. Task automation, on the other hand, do not have any problem-solving capabilities and follow a pre-determined process, therefore unable to provide an end-to-end automated solution. Artificial intelligence used together with task automation can empower businesses to benefit from the advantages of IA technology.
As we have seen, one of the key benefits that IA offers is the ability to automate tasks that are repetitive in nature. Businesses can then reallocate resources towards strategic development and customer centric processes, thereby improving customer relationships by delivering a far better customer experience. Intelligent automation also enables greater visibility, which is critical for optimized performance as it allows businesses to evaluate efficacy based on performance analytics.
Big Data and Analytics
Big data analysis is a key foundation for an effective digital transformation strategy. In this era of big data, the huge amount of data available from different sources is useless unless collected at a single source, analyzed and applied to improve strategies.
The power of big data can be harnessed by analytics tools that organize information categorically at a unified source. Adopting IA platforms, however, takes this process a step further by using their intelligent monitoring and incident logging capabilities that aid reporting features. This minimizes the time needed to pull and consolidate data for insights that can be the basis for strategic business decisions. The automatic analysis of event patterns is then translated into automated solutions such as password resets, etc. Since a dramatic reduction in ticket volume can be achieved through IA, IT teams are able to focus on critical issues with the highest impact like, improving service standards and driving process optimization.
Automation is the corner stone of digital transformation and intelligent automation is taking this effort a step further. IA is the fastest-growing technology with the greatest power for disruption. While, on the one side it eliminates mundane and transactional activities, on the other it has the potential to replace high level cognitive activities more reliably, quickly, and consistently.
With an ability to adapt to the changing business environment seamlessly, IA platforms empower businesses to respond quickly, while deploying new tech trends to optimize operations and efficiency. In today’s dynamic business landscape, companies are seeking efficiency and differentiation to maintain competitive advantage. By applying intelligent automation, businesses are able to cut costs by improving efficiency, differentiating products and services with new features and experiences, and entering new markets for growth. Further advances in artificial intelligence, robotics, and automation are fueling a new era of intelligent automation, which will become an important driver of organizational performance in the near future. It is essential for companies across sectors to adopt intelligent automation, or risk dwindling behind.
Today, business and IT leaders agree, that to stay ahead of the curve, enterprises need agility to be able to quickly scale technology infrastructures and drive digital transformation forward to capitalize on new opportunities and react quickly to growing customer expectations. This necessary agility comes with choosing and integrating with the right technology partners to embrace a tech-ready and digital first business approach.
Those organizations leading the path of digital disruption are deploying new ways of using customer data to provide enhanced customer experiences. The key is to create deep and meaningful personalization, which in turn requires data across the enterprise, it’s partners and external service providers. Superior customer experience requires that data be delivered from multiple sources to the right place and at the right time. By harnessing this data in an actionable and accessible platform, these insights can be used to build a unified customer profile. Despite the availability of such tools, many organizations struggle to make sense of the data they have, surging through their disparate technology systems.
This data driven disruption is profoundly rewriting today’s business environment and digital ecosystems. The only way to keep ahead or stay on par with the competition in this rapidly changing landscape is to take a digital first business approach. This smart automation and the rise of big data usage across diverse sectors of the economy empower organizations with a scalable and predictable revenue engine that enables improved financial management and sustained profits.
RecVue is the only order-to-cash automation platform powered by big data that is designed for high-volume recurring revenue models for the enterprise. RecVue is also the fastest growing order-to-cash platform that helps enterprises monetize and scale their complex business models. With RecVue’s revenue management capabilities, finance organizations have an easier, more secure process for translating complex contractual relationships into accepted accounting statements to meet rigorous compliance rules. While other revenue recognition solutions require that you re-build the order, with RecVue the contract is the central element for all downstream processes. RecVue’s unique, unified platform integrates with ERP and front-end order processing systems. Customers are mastering hybrid subscription and high-volume usage-based models with sophisticated pricing and rating scenarios, while gaining operational efficiencies, expanding their business footprint, and exceeding customer expectations.
Reach out to us today for a revenue automation assessment and to learn how smart monetization can fuel your traditional, hybrid and modern business models to support your organization’s digital transformation and future growth.