Author: Automation Hero

In today’s rapidly evolving digital landscape, three key technologies have risen to prominence: Intelligent Process Automation (IPA), Hyper-automation, and Intelligent Document Processing (IDP).

Each offers distinct advantages, all united by a shared objective: to revolutionize and automate business processes, enabling organizations to function at optimal efficiency and deliver unparalleled value.

Jun 08, 2023 by Automation Hero

Consider IPA as an advanced scholar with the capability of automating and enhancing tasks, while continuously learning and adapting. Hyper-automation, on the other hand, can be seen as an adept orchestrator, coordinating a spectrum of sophisticated technologies to construct a harmonized network of interconnected, automated processes. Lastly, visualize IDP as an adaptable interface, integrating seamlessly with existing automation tools, augmenting their functionality, and extending their applications.

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In this analysis, we will delve into the specifics of these significant components of automation. We will explore their individual capabilities, their unique roles in the broad context of business automation, and how platforms like Automation Hero’s IDP can bridge the gaps and create synergies between these varied forms of automation, thereby constructing an intelligent and robust automation ecosystem. 

Exploring Intelligent Process Automation (IPA)

Intelligent Process Automation (IPA) refers to a collection of new and legacy automation technologies coming together to manage, integrate, and automate efficient business processes. IPA combines new technology, such as artificial intelligence (AI), with traditional automation technologies like Robotic Process Automation (RPA), to go beyond the limitations of legacy software automation tools.

This combination of technologies not only automates routine tasks similar to traditional RPA “bots,” but also adds a “cognitive” feature to RPA that allows it to learn and adapt to evolving circumstances. For businesses seeking an efficiency boost, IPA can be a powerful tool. IPA incorporates elements of Machine Learning (ML), Natural Language Processing (NLP), and AI, creating a more sophisticated system that can streamline and enhance existing business operations.

IPA incorporates elements of Machine Learning (ML), Natural Language Processing (NLP), and AI, creating a more sophisticated system that can streamline and enhance existing business operations.

IPA works harmoniously with existing tools to provide businesses with insights enabling proactive decision-making. IPA also facilitates the automation of more complex tasks than standalone RPA robots can automate, freeing human workers to focus on tasks that require creativity, critical thinking, and a human touch.

Businesses across sectors are leveraging IPA to achieve operational excellence. From optimizing customer service with more intelligent bots to enhancing supply chain management with predictive analytics, IPA is transforming how businesses operate. However, like any other technology, the implementation of IPA also comes with its challenges, including data privacy concerns, the need for workforce re-skilling, and the requirement of significant upfront investment.

Despite these challenges, the benefits of IPA often outweigh the costs. Companies implementing IPA successfully have reported higher operational efficiency, improved customer satisfaction, and significant cost savings. With continuous technological advancements, IPA will continue to become more accessible and beneficial for businesses of all sizes.

Unraveling hyper-automation

Hyper-automation is an implementation strategy and a giant leap forward compared to IPA. As a strategy, it seeks to automate as many business and IT processes as possible, creating a network of automated tasks that work in orchestration to interact with each other seamlessly.

Similar to IPA, hyper-automation encompasses a range of intelligent and traditional automation tools, including Intelligent Document Processing (IDP), Robotic Process Automation (RPA), business management software, and AI. However, the main intent of a hyper-automation strategy is to automate every business process that can be automated in an organization.

Central to hyper-automation is the idea of orchestrating multiple automation technologies to work together and create a more integrated, streamlined, and sophisticated system. This approach aims to eliminate silos, enhance the scalability of automation efforts, and maximize the return on investment.

Businesses across various industries are deploying hyper-automation to enhance their operational efficiency and agility.

Businesses across various industries are deploying hyper-automation to enhance their operational efficiency and agility. By combining different automation technologies, companies can create a more resilient and adaptable infrastructure better to meet the demands of the rapidly evolving digital economy.

Despite its potential, hyper-automation also has its challenges. It requires a significant investment in technology and skills, as well as a comprehensive change management strategy. However, for those companies that can navigate these challenges, hyper-automation offers an opportunity to transform their business processes and achieve a significant competitive advantage.

The role of intelligent document processing (IDP)

IDP sits at the intersection of several key technologies and has emerged as a critical component in the broader automation landscape. In short, IDP uses artificial intelligence to process and manage documents efficiently. By using IDP, businesses can streamline document-heavy processes, reduce manual labor, and improve accuracy.

One of the key benefits of IDP is its ability to integrate seamlessly with other automation tools, such as RPA. This ability to ‘play nicely’ with existing technologies allows companies to augment their current automation strategies, enhancing the overall efficiency and scope of their operations.

This ability to ‘play nicely’ with existing technologies allows companies to augment their current automation strategies, enhancing the overall efficiency and scope of their operations.

Automation Hero’s full-service IDP platform is an excellent example of this end-to-end integration capability. With a keen focus on complementing and enriching existing automation systems rather than directly competing with them, Automation Hero’s Hero Platform_ offers organizations the flexibility and agility needed to scale up their automation.

Hero Platform_ uses an Application Programming Interface (API) to transform existing systems, software, and databases into a “business intelligence fabric.” Our industry-leading native AI is built into the platform, so it can intelligently process any document, providing a valuable service within a wider automation strategy.

Automation Hero’s vision is to complement and coexist with broader automation strategies. This philosophy is fundamental to our approach to automation and the value we aim to bring to our customers.

IPA, Hyper-automation, and how IDP factors in

IPA, Hyper-automation, and IDP share a fundamental goal: to streamline business processes, boost efficiency, and reduce the potential for human error. They leverage common technologies like artificial intelligence and machine learning to automate tasks that traditionally required human intervention. This use of technology represents a significant shift from traditional business process management, emphasizing the ever-increasing role of digital technology in business operations.

All three aspire to automate tasks, but they each apply technology in unique ways to achieve this. From IDP’s focus on document-centric business processes to IPA’s workflow automation system and Hyper-automation’s comprehensive, enterprise-wide approach, each offers a unique take on automation.

While IDP and IPA are examples of automation technologies that can operate independently, their true power is realized when used in tandem.

While IDP and IPA are examples of automation technologies that can operate independently, their true power is realized when used in tandem. For example, IDP systems like those offered by Automation Hero can integrate seamlessly with existing IPA and RPA systems, enhancing their efficiency and expanding their operational scope.

Distinguishing IPA, hyper-automation, and the uniqueness of IDP

Though IPA, Hyper-automation, and IDP share common objectives, they differ in several key aspects. IPA focuses on automating specific business processes and incorporates a degree of machine learning and decision-making into older, legacy automation software tools. In contrast, Hyper-automation seeks to automate as many processes as possible across the business and uses a range of technologies to achieve this goal.

While IDP can certainly automate document processing tasks, its real strengths lie in its ability to enrich other automation technologies and transform unstructured data into business value.

IDP occupies a unique position within this landscape. Rather than competing with existing automation technologies, it integrates your existing software automation tools to enhance their functionality. Since IDP plays nicely with other tools, it can augment your existing RPA robot with the AI/cognitive capabilities you need. While IDP can certainly automate document processing tasks, its real strengths lie in its ability to enrich other automation technologies and transform unstructured data into business value.

These differences in focus and approach reflect the varying degrees of sophistication, autonomy, and scope offered by each of these automation strategies. They underscore the value of having a diverse automation portfolio and highlight the potential of technologies like IDP to contribute to this diversity.

Conclusion

IPA, Hyper-automation, and IDP each play a unique role in the evolving landscape of business automation. As businesses continue to grapple with the demands of the digital age, these technologies offer valuable tools for boosting efficiency, enhancing accuracy, and staying competitive. Companies can choose between these tools depending on their specific needs, resources, and strategic objectives.

As we move into the future, we can expect these technologies to continue to evolve, offering even greater potential for automation and efficiency. With the ability to integrate and augment other automation technologies, IDP solutions like Automation Hero will play a critical role in this future, helping businesses navigate the complexities of digital transformation and achieve their automation goals.

With the ability to integrate and augment other automation technologies, IDP solutions like Automation Hero will play a critical role in this future, helping businesses navigate the complexities of digital transformation and achieve their automation goals.

To learn more about how Automation Hero can augment your current automation strategies with its IDP solutions, please visit our website or contact us directly. We welcome your comments, questions, and discussion on this topic. Let’s explore how we can work together to bring the benefits of automation to your business.

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Learn how we helped Markerstudy reduce its claims processing time by 40%. Additionally, learn how we reduced total claim processing time by 80% for another multinational insurance partner — cutting down manual tasks from 10 minutes to just two minutes per claim.

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In an era defined by rapid digital transformation, automation has become a cornerstone of modern business. Automation aims to streamline processes, reduce manual effort, and increase efficiency and accuracy.

Automation software is central to this mission, enabling businesses to automate routine tasks and processes like never before.

May 23, 2023 by Automation Hero

Automation software tools are applications or platforms that use technology to automate manual tasks. Some of the more traditional tools work by following pre-set rules to perform tasks that typically require human intervention. 

Others have advanced AI/cognitive capabilities to read documents like humans and automate critical business processes. Benefits of using automation software include reduced errors, improved productivity, increased speed, and lower operational costs.  

In this post, we will explore four types of automation tools. This exploration will provide you with an understanding of not just the types of automation tools available to you but also the use cases for each tool. 

The different types of automation software

Intelligent Document Processing (IDP)

Intelligent Document Processing (IDP) represents the pinnacle of contemporary automation technology. As the “best of breed,” it is designed to streamline complex business processes by leveraging cutting-edge technologies such as AI, machine learning, and natural language processing. IDP surpasses traditional automation methods by intelligently understanding and processing unstructured data within documents.

This capability is a game-changer, given that most business data is unstructured. Companies are often overwhelmed by vast amounts of data locked in emails, PDFs, handwritten notes, and other document formats. IDP software tools alleviate this challenge by extracting and interpreting this data accurately and swiftly.

Here are four examples of how IDP can be used:

1. Invoice processing 

In financial departments, IDP can be used to extract relevant information from invoices, such as supplier details, invoice numbers, and the total amount due. It helps reduce manual data entry errors and accelerates the entire accounts payable process.

2. Insurance policies 

In the insurance sector, IDP expedites claims processing and improves customer communication. When a customer is facing a crisis, every minute matters. By processing a claim in a fraction of the time, IDP delivers outsize value for the carrier and the customer alike. If you’re looking to step up efficiency inside your company, whether it’s an insurance agency, carrier, consultancy, or related entity, intelligent automation can streamline your business processes.

3. Contract management

Contracts are data-packed documents with critical business intelligence. In legal departments or businesses dealing with numerous contracts, IDP can be used to extract critical data points from contracts and get them all into existing tools for further analysis. It can extract key details, such as contract duration, parties involved, terms and conditions, and renewal dates. This facilitates better contract management and risk mitigation.

4. Loan application processing

In the banking and finance sector, IDP can streamline the loan application process by extracting necessary information from application forms and supporting documents. This accelerates loan approval times and improves customer satisfaction.

Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is a fundamental automation tool that has served businesses well over the years. RPA works by mimicking human actions to perform simple, repetitive tasks involving structured data.

RPA shines in scenarios that involve data entry, form filling, and straightforward data manipulation tasks. While this makes it a valuable tool for many businesses, RPA is less equipped to handle complex scenarios involving unstructured data or requiring adaptive decision-making.

“RPA is less equipped to handle complex scenarios involving unstructured data or requiring adaptive decision-making.”

RPA’s “rule-based” operation means it lacks the ability to learn and adapt to changing environments or processes. In this regard, while RPA is a useful legacy system, it falls short compared to more dynamic and intelligent automation software tools like IDP.

Here are a few examples of how RPA can be implemented:

1. Invoice processing 

Businesses can use RPA to automate the process of receiving, reviewing, and paying invoices. The software robots can The software robots can automate simple “copy and paste” functions that can support data extraction from incoming invoices, validate the information against purchase orders, and even trigger responses in other software tools that can initiate payments. 

However, since every vendor uses a unique invoice, the software robots must be programmed to recognize each invoice format. Unfortunately, RPA’s brittle interface makes it incredibly difficult to update and maintain each vendor’s uniquely semi-structued invoice.

“Unfortunately, RPA’s brittle interface makes it incredibly difficult to update and maintain each vendor’s uniquely semi-structued invoice.”

2. Data migration and data entry

Organizations often deal with large volumes of data that need to be entered into their systems or migrated from one platform to another. RPA can handle these tasks effectively, eliminating human error, reducing time spent, and improving data accuracy.

3. Customer service

RPA can be used to support customer service agents by automating rote “busy work,” such as, processing refund requests, or updating customer records. This helps speed up resolution times, enhances customer satisfaction, and allows a business’s human resources team to focus on more complex issues.

Unfortunately, RPA is not the right solution for automating responses to common customer inquiries. RPA is designed to handle repetitive, highly regimented tasks. Going beyond RPA and truly providing a more holistic solution that can improve the customer experience requires an intelligent AI-driven automation software. For this, businesses need to look for a dynamic tool that incorporates automated Email classification and processing capabilities. 

“RPA is designed to handle repetitive, highly regimented tasks. Going beyond RPA and truly providing a more holistic solution that can improve the customer experience requires an intelligent AI-driven automation software.”

4. IT operations

Routine IT tasks such as system monitoring, issue resolution, and maintenance tasks can be automated using RPA. This increases efficiency, reduces the chances of system downtime, and allows IT personnel to focus on more strategic tasks.

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Business Process Automation (BPA)

Business Process Automation (BPA) takes a holistic approach to automation. BPA is an implementation strategy (not a specific technology) that typically involves combining more than one automation tool together, such as legacy RPA with dynamic intelligent automation tools like IDP.   

Rather than focusing on individual tasks, BPA aims to automate entire business processes and can be deployed throughout the organization for streamlined collaboration between different departments. This scope extends to areas such as the CRM, supply chain management, and enterprise resource planning.

The broad focus of BPA can lead to impressive efficiency gains. For example, in supply chain management, BPA can automate processes from order placement to delivery, reducing delays and errors. However, implementing BPA can be a complex undertaking. It often requires significant planning, change management, and technological infrastructure. Despite these challenges, when implemented correctly, BPA can drive significant value and efficiency.

Consider these examples of how BPA can be utilized:

1. Human resources onboarding

HR departments can use intelligent automation tools like IDP to implement a BPA strategy that streamlines the onboarding process. From collecting necessary employee information to ensuring they receive necessary training and resources, automation can help reduce the workload on HR and improve the new employee experience.

2. Supply chain management

In supply chain operations, AI-driven automation tools like IDP can be combined with other automation solutions to automate order processing, inventory tracking, supplier management, and delivery scheduling. This reduces the possibility of human error, boosts efficiency, and enhances supplier-customer relationships.

3. Customer relationship management

BPA strategies that use intelligent document processing and RPA can automate many aspects of CRM, including data entry, lead generation, email marketing, customer segmentation, and customer service responses. This allows businesses to maintain consistent and personalized communication with customers, leading to improved customer satisfaction and loyalty.

4. IT service management

IT departments can leverage BPA strategies that incorporate RPA and IDP for tasks like ticketing system management, system updates, incident management, and routine maintenance. This improves response times, reduces downtime, and enhances the overall IT service quality.

Artificial intelligence (AI) as automation software

Artificial Intelligence Automation represents the convergence of AI and automation, ushering in a new era of intelligent automation. With AI, automation tools don’t just follow rules—they learn from patterns and make decisions, adding a layer of intelligence to the automation process.

“With AI, automation tools don’t just follow rules—they learn from patterns and make decisions, adding a layer of intelligence to the automation process.” 

Artificial Intelligence (AI) automation is paving the way for smart operations across various domains. By learning and improving from experience, AI can perform tasks that typically involve human intelligence, such as understanding natural language or recognizing patterns. 

Here are four examples of how AI automation can be implemented:

1. Predictive maintenance in the energy & utility industry

AI-driven automation solutions such as Automation Hero’s intelligent document processing platform can help maintenance professionals predict equipment failure by analyzing patterns and identifying anomalies in operational data. This allows businesses to schedule maintenance proactively, avoiding unexpected downtime and reducing maintenance costs.

2. Automation for manufacturing

Many manufacturers still use manual data entry, but this slows down the turnaround time, stifles innovation, and creates quality control issues that are costly to fix. An AI-driven automation technology, such as IDP, revolutionizes document processing for manufacturers. 

“An AI-driven automation technology, such as IDP, revolutionizes document processing for manufacturers.” 

Since IDP can read and process documents with above-human accuracy, the AI can help manufacturers streamline Certificate of Analysis (COA) workflows, Product Safety Data Sheet (PSDS) workflows, invoice processing, inventory management, customer service and vendor communication, and other document-heavy processes.

3. Personalized marketing

AI algorithms can help marketing decision-makers analyze customer behavior and preferences to tailor marketing messages and recommendations. This not only improves customer engagement but also increases the effectiveness of marketing campaigns.

4. Fraud detection in finance

By recognizing unusual patterns and behaviors, AI can detect potential fraudulent activities in real-time. This helps financial institutions reduce losses and protect their customers’ assets.

5. Virtual assistants and chatbots

AI algorithms such as the mult-model flexible AI models in Automation Hero’s IDP platform can help customer service teams save hours by automatically classifying email intentand automating replies to common customer questions.

Additionally, AI-powered virtual assistants and chatbots can understand and respond to human language, providing 24/7 customer service, assisting with tasks, and even providing personalized recommendations. This enhances customer service and improves efficiency. Learn why AI is critical to automating the call center of the future in this white paper.

Transitioning from legacy automation software to advanced IDP

Given the limitations of RPA and the superior capabilities of IDP, businesses are urged to make the transition. Transitioning from RPA to IDP is not merely about adopting a new tool; it is also about evolving the business process for better productivity and efficiency. Automation Hero plays a pivotal role here, providing the technology and support necessary for businesses to make this transition smoothly.

“Transitioning from RPA to IDP is not merely about adopting a new tool; it is also about evolving the business process for better productivity and efficiency.”

The future of automation software

The automation landscape is undergoing a rapid and profound transformation. As businesses across all industries increasingly recognize the benefits of automation, they are investing heavily in automation tools to streamline operations, enhance productivity, and foster innovation. 

The future of automation holds immense promise and is bound to evolve in three primary directions: increased intelligence, seamless integration, and democratization of technology.

Increased intelligence

We are poised on the brink of a new era of intelligent automation. Thanks to advancements in artificial intelligence and machine learning, future automation tools will be able to learn from data, adapt to changing environments, and make predictive decisions. We are already witnessing the initial stages of this trend with AI-powered IDP and AI automation. 

Seamless integration

The future will also witness the seamless integration of different automation tools. As businesses increasingly deploy a range of automation tools, the ability to integrate these tools into a cohesive whole will be critical. By enabling these tools to communicate and collaborate, businesses can unlock greater efficiency and effectiveness from the untapped potential of unstructured data.

“By enabling these tools to communicate and collaborate, businesses can unlock greater efficiency and effectiveness from the untapped potential of unstructured data.”

Automation Hero, for instance, is already pushing the boundaries in this area. Our platform allows for seamless integration of different automation tools, ensuring that your entire automation ecosystem works in harmony. 

Democratization of technology

Automation technologies are becoming increasingly accessible, even for non-technical users. This trend, known as the democratization of technology, will significantly shape the future of automation. Through user-friendly interfaces and no-code or low-code platforms, a wider range of people within organizations will be able to deploy and manage automation tools. 

“Through user-friendly interfaces and no-code or low-code platforms, a wider range of people within organizations will be able to deploy and manage automation tools.” 

As a result, automation will not just be the purview of IT departments but will permeate all levels of the organization. This democratization can lead to more innovative uses of automation, as those closest to the work can automate their tasks.

Bringing IDP into your organization

Automation software tools, such as IDP, RPA, BPA, and AI automation, play a pivotal role in modern businesses. While each has its own unique benefits and limitations, advanced tools like IDP offer more comprehensive solutions. With their ability to process unstructured data and adapt to changing environments, they significantly outperform legacy systems like RPA and traditional OCR.

We encourage you to explore Automation Hero’s robust and dynamic full-service automation platform. Our technology and support can help your business navigate the transition to IDP.  To see a demo of the Automation Hero platform in action, click here.

Unlock the intelligence in your documents with our AI-driven automation today

Learn how we helped Markerstudy reduce its claims processing time by 40%. Additionally, learn how we reduced total claim processing time by 80% for another multinational insurance partner — cutting down manual tasks from 10 minutes to just two minutes per claim.

• Speak with an expert — tell us about your specific use case.
• Get a personalized demo — schedule a demo, and our Heroes will get in touch!

For most organizations, Robotic Process Automation, or “RPA,” has become an industry standard and a “first step” into digital transformation.

It also offers an exciting opportunity for business leaders and their teams to dip their toes into the many benefits of automation.

May 19, 2023 by Automation Hero

RPA has helped with this for the past decade, but there are limits to this legacy technology.

To understand these limits, it is crucial to understand how RPA works and how new, more advanced tools are building upon the original promise of RPA. In this comprehensive guide, we delve into the world of RPA and how it differs from its evolved version—Intelligent Document Processing (IDP).

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What is Robotic Process Automation?

Robotic Process Automation is a technology that employs software robots, or “bots,” to automate routine, “rules-based” business tasks. RPA bots are like a computer program that can copy the actions of a human worker. 

How RPA Software Works

RPA mimics the manual click work and keyboarding performed by human knowledge workers to carry out tasks on its own without needing humans to intervene or manage them.

“RPA bots are like a computer program that can copy the actions of a human worker.” 

RPA involves a series of steps or rules (also called a “script”) to accomplish its more complex screen tasks and requires a Graphical User Interface (GUI) or a developer window to operate. 

The technology runs on top of computer software systems, where users can then record simple mouse movements and keystrokes that perform screen automations without supervision.

RPA Capabilities

RPA is a legacy technology with a broad spectrum of applications. It can automate tasks ranging from simple to more complex. For instance, it can handle tasks like data entry and form filling, which, although simple, are time-consuming when done manually. Since the user records what they do in their day-to-day job, the RPA robot handles all the clicking and mouse movements to complete the task. 

Additionally, RPA can automate some more complex tasks that involve multiple software systems, such as triggering responses in accounting software to automate transactions and migrating or updating data into another database.

Applications of RPA

RPA can automate repetitive, rules-based tasks, regardless of the industry. Some common applications of RPA include:

• Data migration
• Trade execution
• Data validation
• Data updates

Moreover, RPA is industry-agnostic, finding applications in sectors as diverse as finance, healthcare, retail, and more. For example, RPA is great for: 

• Automating routine, rule-based tasks that previously required human intervention including data entry, filling out forms, and automatically moving files and folders to other database systems. 
• Connecting different systems that were not initially designed to interact with each other, enabling automated data transfer and synchronization. 
• Managing complex tasks involving any “swivel chair,” or copy/paste interaction with multiple systems.

These capabilities are scalable and can be adjusted to handle increased workloads, providing companies with more flexibility to manage their operations.

Benefits of RPA

Automation through RPA offers several benefits. One of its primary advantages is increased efficiency. By automating repetitive tasks, RPA reduces the time taken to perform these tasks and helps enhance accuracy by reducing human error. This can lead to significant cost savings as companies can achieve more with fewer resources.

“By automating repetitive tasks, RPA reduces the time taken to perform these tasks and helps enhance accuracy by reducing human error.”

Moreover, RPA is scalable. Bots can be easily replicated to manage an increased workload during peak periods. RPA is also non-invasive. This enables RPA to work on top of existing systems and applications, reducing the need for complex IT projects and minimizing disruptions to existing operations.

The limits of RPA

While Robotic Process Automation offers immense potential, it is not without its limitations. The primary one is that RPA can only handle rules-based, repetitive tasks. It also has limitations with tasks that require judgment, creativity, and complex decision-making. 

For example, RPA would not be suitable for tasks requiring strategic decision-making, handling unstructured, ambiguous information, or those that involve human emotions. RPA is also limited in its ability to learn from experience; the bots can only do what they are programmed to do and do not improve or adapt over time without human intervention.

“RPA can only handle rules-based, repetitive tasks.”

The most important limitation to consider is RPA’s dependency on stable environments and structured processes. Any change in the layout of a document or a webpage , or modifications in the underlying systems it runs on top of, can disrupt an RPA bot’s operation, requiring reconfiguration or redesign. This also extends to process changes; if the steps in a process change, even slightly, the bot will need to be re-programmed. 

“Any change in the layout of a document or a webpage, or modifications in the underlying systems it runs on top of, can disrupt an RPA bot’s operation, requiring reconfiguration or redesign.”

This inherent lack of adaptability can potentially increase maintenance costs and limit the long-term effectiveness of RPA solutions. Additionally, while RPA is useful for reducing manual labor for repetitive tasks, it doesn’t contribute to process optimization. Instead, it can sometimes lead to the automation of inefficient processes without addressing the root cause of the inefficiency.

Finally, with so many documents required for compliance regulations, the need for capturing data accurately and quickly—especially unstructured data—is rapidly growing. Unfortunately, this is the most significant area where traditional RPA falls short.

As a result, businesses are looking at sophisticated data extraction solutions like intelligent document processing (IDP) to “unlock” valuable data in unstructured documents.

How AI and RPA Relate

Artificial Intelligence (AI) and RPA, although separate technologies, can form a powerful duo. While RPA handles routine, repetitive tasks, AI adds a layer of intelligence to the automation process. 

In the early 2000s, RPA was quite literally slapped on top of existing software like a “bandage” to automate user interface clicks. Consequently, the earliest investments in RPA were driven by the need to integrate legacy systems that didn’t have APIs. 

“Artificial Intelligence (AI) and RPA, although separate technologies, can form a powerful duo. While RPA handles routine, repetitive tasks, AI adds a layer of intelligence to the automation process.” 

As an older technology, RPA on its own will struggle to keep up with the needs of today’s business environments. But AI technologies, such as those already built into next-gen intelligent document processing (IDP) solutions, are extremely useful for augmenting RPA’s limited capabilities.  

Machine Learning (ML), Natural Language Processing (NLP), and Optical Character Recognition (OCR) can be integrated with RPA to create Intelligent Process Automation (IPA) workflows. This combination of AI and RPA allows for the automation of not just simple, rules-based tasks, but also tasks that require understanding, reasoning, and learning.

Differences between RPA and IDP

While RPA and Intelligent Document Processing are both forms of software automation technology, they serve different purposes and have distinct capabilities. RPA is primarily used to automate routine, rules-based tasks. Since RPA users record what they do in their day-to-day job, the RPA robot handles all the clicking and mouse movements to complete the task. As a simple screen automation, it interacts with digital systems in a similar way a human would, performing rote tasks such as data entry, form filling, and triggering responses in other software.

IDP, on the other hand, takes automation a giant leap further. IDP reads, interprets, extracts, and processes data from unstructured sources such as photos, emails, PDFs, invoices, and other semi-structured document types. IDP leverages advanced technologies such as AI, ML, and OCR to understand, categorize, and process this data. 

“RPA is primarily used to automate routine, rules-based tasks…IDP, on the other hand, takes automation a giant leap further.”

RPA can be difficult to update in an ever-changing business environment and is often seen as a “brittle” and unreliable technology relative to the pace of modern business. Savvy organizations take an understanding of RPA and build upon it with newer, more adaptable tools like Automation Hero’s IDP platform.

In essence, IDP can handle complex, unstructured data and capture all of the potential value from it, thereby making IDP more flexible and scalable than traditional RPA. IDP doesn’t just automate tasks; it brings a level of intelligence to the process, enabling it to understand documents at the semantic level.

Read our other article to learn more about the differences between software automation and AI. 

RPA and hyper-automation

When organizations upgrade their current RPA with AI-driven automation, such as intelligent document processing, they can unlock data stuck in unstructured documents that goes well beyond the limits of traditional RPA.

Hyper-automation represents the future of automation. This involves the application of advanced technologies that use AI, ML, and NLP, in conjunction with RPA to automate complex tasks. 

“Hyper-automation represents the future of automation.”

Hyper-automation goes beyond simply automating tasks and aims to create an orchestration of interconnected technologies working together to automate end-to-end business operations with above-human accuracy. This level of automation not only increases efficiency but also enables businesses to adapt quickly to changing business needs and market conditions.

Why is IDP better than RPA?

It’s important to consider that while RPA is a powerful tool, it’s not a one-size-fits-all solution and often fails to grow or adapt as a business’s needs change. 

In many cases, Intelligent Document Processing (IDP) will offer a more comprehensive solution, especially when dealing with unstructured data and complex processes. Understanding the capabilities and limitations of RPA vs IDP is key to making an informed decision about which technology is the best fit for your organization’s unique needs.

How RPA Factors Into the Future

As an outdated technology, Robotic Process Automation software is still a useful tool with the potential to streamline business operations across industries. By mimicking human interactions with digital systems, it can automate repetitive, rule-based tasks, leading to significant improvements in efficiency, accuracy, and productivity. 

Unfortunately, this outdated approach is limited to only automating simple screen-related tasks. Script-based approaches like RPA have real-world limitations that pervade the industry today, which is why agile enterprises will need modern AI to drive their business processes in the future.

“Script-based approaches like RPA have real-world limitations that pervade the industry today, which is why agile enterprises will need modern AI to drive their business processes in the future.”

The implementation of RPA involves identifying suitable processes for automation, defining the automation workflow, configuring the RPA bot, integrating it with existing systems, and ongoing monitoring and maintenance. While the initial setup may require a certain level of expertise, the return on investment can be significant, especially when you add AI-driven automation with next-gen intelligent document processing to overcome the traditional challenges of RPA. 

Some IDP solutions include automation features to manage the output into a workflow, while other IDP vendors only focus on the intelligent data extraction step. With these more limited IDP products, automation engineers and designers must take the output elsewhere and manage it themselves. 

Automation Hero offers an end-to-end full-service hyper-automation IDP platform that plays nicely with your existing automation software—with benefits that include cost savings, time savings, error reduction, and the ability to free up human resources for more strategic tasks.

Join the hyper-automation revolution with Automation Hero

To learn more about how IDP can fit into your organization, contact our team at Automation Hero. Our expertise in AI-driven hyper-automation and intelligent document processing platform means we can customize the right automation solution to fit your needs, your budget, and your strategic plans. Click here to schedule a demo of Automation Hero today.

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The vast amounts of information and data flowing through businesses today represent a golden age of opportunity.

That opportunity, however, only comes to those who put their data to work. From predictive analytics to business process optimization, leveraging data sets in actionable ways is the key to a business not just surviving, but thriving.

Apr 28, 2023 by Automation Hero

Yet the same data that presents so many opportunities can also be a burden. Having so much information to comb through and put to work can make it challenging to efficiently process, manage, and extract meaningful insights. Fortunately, with the advent of intelligent document processing (IDP), businesses now have a powerful tool that can help them streamline their document management and data extraction processes.

In this post, we will cover what IDP is and, crucially, what it is not.

We will detail use cases of IDP, where it can be applied, and why this technology is changing the way businesses operate. At the end of the post, you will have a complete understanding of IDP as well as a vision for how intelligent document processing can benefit your own organization.

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What is intelligent document processing?

Intelligent Document Processing is “a type of business workflow automation that uses artificial intelligence (AI) to read documents the same way that humans do.”

IDP can work with various types of documents, such as invoices, purchase orders, financial statements, medical records, and more. The technology can extract information from unstructured data sources such as scanned documents, PDFs, and images, which are traditionally difficult to process using conventional methods.

IDP can be used in conjunction with Robotic Process Automation (RPA), which automates repetitive tasks, to create an end-to-end automation solution for businesses. When IDP and RPA work together, entire business processes can be optimized from start to finish, reducing the need for manual intervention and allowing employees to focus on more strategic tasks.

What IDP is not

It’s important to clarify what IDP is not to dispel any misconceptions about its capabilities.

Firstly, IDP is not the same as Optical Character Recognition (OCR) or document scanning. OCR technology scans images of text or writing into files that can then be edited. OCR can certainly help businesses digitize their paper records, but it cannot understand the context of the document or extract meaningful insights from it. To be clear, OCR is one of the tactical steps that make up IDP. Furthermore, just as not all IDP solutions on the market are the same, not all OCR solutions on the market are the same.

Find the right OCR solution for you in our OCR Buyer’s Guide.

IDP is also not document scanning. Document scanning can be very useful for a business, but in and of itself, it does not extract business intelligence. Furthermore, document scanning does not create workflows or automate processes the way IDP does. While document scanning can make it easier to access and share documents, it does not enable businesses to extract insights from the data within the document.

It’s also worth noting that IDP is not limited to a specific industry or use case. While it is commonly used for tasks such as invoice processing or contract management, it can be applied to any industry or business process that involves large volumes of unstructured data. This includes areas such as healthcare, legal, and financial services, among others.

In summary, while OCR and document scanning can be helpful for digitizing documents, they cannot provide the same level of insight as IDP. IDP is not limited to a specific industry or use case and has the ability to extract meaningful insights from unstructured data.

How does IDP work?

IDP uses a combination of computer vision, natural language processing (NLP), and machine learning (ML) algorithms to analyze and extract data from unstructured documents. It is a complex and multi-step process that involves the following stages. 

1. Data extraction: The first step in the IDP process is data extraction. This involves scanning documents and extracting relevant data points using OCR technology. OCR converts scanned images into machine-readable text, which can then be used to identify and extract relevant information.
2. Data validation: After the data has been extracted, it needs to be verified and validated to confirm that it is accurate and correct. This involves comparing the extracted data to check for inconsistencies and errors. Errors and inaccuracies are marked for review so they can be corrected and fed back into the automation.
3. Data classification: Once the data has been extracted and validated, it is classified based on its type and relevance. For example, if the document is a receipt from a business expense, the relevant data points may include the receipt number, date, vendor name or location, and total amount. Since the layout of information in receipts is unstructured and totally dependent on the merchant, IDP software can be trained to recognize different types of documents as “receipts” and classify them accordingly.
4. Data enrichment: After the data has passed through each of these steps, it can be further enriched by adding additional information from external sources. This could include adding data from other documents or databases, performing calculations, or conducting sentiment analysis.
5. Data export: Finally, the enriched data can be exported to other systems or applications, such as an Enterprise Resource Planning (ERP) system or a Customer Relationship Management (CRM) system.

Overall, the goal of IDP is to automate the entire document processing workflow, from document ingestion to data export. By automating these tasks, businesses can save time and money while reducing the risk of errors and improving data accuracy.

Where can IDP be applied?

IDP has numerous applications across various industries, enabling organizations to improve efficiency, reduce costs, and improve the accuracy of their document processing workflows. While IDP is popular and can be used in many industries, three places where it is most prevalent are the finance, healthcare, and legal sectors.

Finance & Banking

In the finance sector, IDP can automate the processing of invoices, receipts, and other financial documents. This can result in faster processing times, reduced costs, and improved accuracy. IDP can also enable these financial services organizations to gain insights from their financial data, informing decisions made based on data instead of guesswork.

Insurance 

In the insurance sector, IDP can help process claims more efficiently and accurately. Insurance companies deal with a large volume of paper-based documents, such as claim forms, policies, and contracts. IDP can be used to extract important information from these documents, such as policy numbers, claim amounts, and customer details, which can be used to automate the claims processing workflow. This can result in faster turnaround times, reduced errors, and improved customer satisfaction. Additionally, IDP can help insurance companies identify potential fraud cases by comparing data from different sources and flagging any inconsistencies.

Manufacturing

For manufacturers, IDP can help automate the processing of invoices, purchase orders, and other financial documents. This can help streamline the supply chain process and improve the accuracy of financial data. Additionally, IDP can be used to digitize paper-based manufacturing records, such as production logs and quality control reports. This can help manufacturers track their operations more efficiently, identify bottlenecks in the production process, and improve overall productivity.

Shipping & Logistics

Many times, people don’t think about the role IDP can play in less-visible industries like shipping. Automation Hero works with businesses in the shipping sector to help automate the processing of bills of lading, customs forms, and other shipping documents. This can help shipping companies reduce errors and delays in the processing of shipments, resulting in faster delivery times and improved customer satisfaction. 

Additionally, IDP can be used to extract data from shipping documents, such as shipment weights and dimensions, which can be used to optimize shipping routes and reduce transportation costs. IDP can also help shipping companies comply with regulatory requirements, such as customs regulations and international trade laws, by ensuring that all necessary documentation is complete and accurate.

Healthcare & HR

In the healthcare industry, IDP can handle processing medical records, cataloging prescriptions, and submitting insurance claims. This improves the accuracy and pace of processing claims, which can result in faster payments and improved patient satisfaction. Additionally, IDP can help reduce errors and fraud in the processing of medical records, improving the overall quality of care. 

Legal & Governance

In the legal industry, IDP can be used to automate the processing of contracts and legal documents, resulting in faster turnaround times and reduced costs. It can also help ensure compliance with legal and regulatory requirements, reducing the risk of errors and penalties. 

Benefits of IDP

The benefits of IDP are numerous and include not just improved productivity but also reduced costs. With IDP, businesses can automate time-consuming and error-prone manual tasks, freeing up employees to spend their time, energy, and intellect on strategic initiatives and more meaninfgul tasks. 

Consider the following benefits of leveraging intelligent document processing technology.

Improved data accuracy

One of the main benefits of IDP is improved data accuracy. By automating data extraction and validation, IDP eliminates the risk of manual data entry errors, ensuring that data is accurate and reliable.

Increased Efficiency

IDP streamlines the automated document processing workflow, enabling organizations to process documents faster and with less manual intervention. This reduces the time and resources required for document processing, freeing employees to focus on more strategic tasks.

Reduced Costs

By automating document processing tasks, IDP can reduce the cost of manual labor and the risk of errors, resulting in cost savings for organizations.

Improved Compliance

IDP can help organizations comply with industry regulations and standards by ensuring that documents are processed accurately and in a timely manner.

Enhanced customer experience

IDP can help organizations improve the customer experience by enabling faster and more accurate processing of customer documents, such as loan applications or insurance claims. IDP can also be integrated with customer relationship management (CRM) systems or an email server to automate common customer requests and sort incoming emails based on intent classification.

Increased data insights

IDP can provide organizations with valuable data insights hidden in their documents. This can help organizations make more informed business decisions and identify areas for process improvement.

Scalability

IDP is scalable, meaning that it can be used to process large volumes of documents without requiring additional manual labor or resources.

Why invest in IDP?

Investing in IDP can bring significant benefits to businesses of all sizes. When used correctly, the return on an investment in IDP can be a boon for a business, regardless of size.

One benefit is improved data accuracy. IDP automates the extraction and validation of data from documents, reducing the risk of manual data entry errors and ensuring reliable data. This can lead to better decision-making and an overall improvement in data quality.

Another benefit is increased productivity. IDP automates manual document processing tasks, freeing up employees to focus on more valuable tasks. This can result in cost savings, increased efficiency, and better allocation of resources.

IDP can also reduce costs associated with document processing, such as labor costs, by automating manual tasks. This can provide organizations with a significant return on investment, freeing up those resources to focus on more strategic initiatives.

Improved compliance is another benefit of IDP. By ensuring accurate and timely document processing, IDP can help organizations meet regulatory requirements and avoid fines or other penalties.

IDP can also give organizations a competitive advantage by enabling faster, more efficient, and more accurate document processing. This can lead to improved customer satisfaction, loyalty, and revenue growth.

Lastly, IDP can provide valuable data insights by extracting and analyzing data from documents. This can help organizations make informed business decisions, identify areas for process improvement, and gain a deeper understanding of customer needs.

Expand your business potential with IDP

By investing in IDP, businesses can stay competitive, improve compliance, and automate time-consuming and error-prone manual tasks.

By automating manual document processing tasks, IDP enables businesses to focus on more valuable tasks, leading to cost savings, increased efficiency, and a better allocation of resources. Furthermore, IDP can provide valuable data insights by extracting and analyzing data from documents, helping organizations make informed business decisions.

Automation Hero is a leading provider of IDP technology, using artificial intelligence and machine learning algorithms to automate the processing of unstructured documents. Our platform enables businesses to streamline document processing workflows and gain a competitive edge by improving efficiency and accuracy. 

Unlock the business intelligence in documents with AI-driven IDP today

In a world where automated document processing is an essential part of business operations, Automation Hero’s IDP technology can revolutionize the way organizations manage their documents. By leveraging the power of AI and machine learning, Automation Hero is helping businesses improve their efficiency and productivity while minimizing the risk of manual errors. For more information on how Automation Hero can transform your document processing workflows, contact us HERE.

• Speak with an expert — tell us about your specific use case.
• Get a personalized demo — schedule a demo, and our Heroes will get in touch!

Mar 24, 2023 by Automation Hero

Andreas Obermair is the Global Head of Automation at Roboyo, where he leads the global intelligent automation practice. Automation Hero recently caught up with Andreas to hear about his work at Roboyo and to get his thoughts on trends in enterprise automation. 

Automation Hero: Tell us about Roboyo.

Andreas Obermair:  Roboyo is the world’s largest professional services provider dedicated to Hyperautomation. We are laser focused on creating business value and impact through automation and the optimization of processes for our customers. We have a wide range of approaches and technologies to make it happen, and we’re excited to have Automation Hero as part of our partner technology stack.

AH. So, tell us what’s Roboyo’s specialty?

AO: Our years of real-world process and project experience and working with different technologies. Plus, we have the in-depth knowledge of the different geographies and industries that our clients exist in, so we have a broad experience when it comes to digital transformation in general and hyperautomation specifically. 

AH: Roboyo was founded in Europe but has expanded globally. What does this mean for your customers?

AO: It was important for us to create a global footprint and to create sustainability for our clients. Over the past few years, our expansion means we now cover all the world’s time zones. This is great for our customers because they get the same quality of expertise and access to resources wherever they are in the world. We can support global engagement out of every market; and that’s all out of one brand, which is amazing.

AH: And where do you have offices?

AO: We have a presence in the Americas, in Europe, and in the APAC region. We have offices in 24 cities, across 15 countries including in Germany and the UK, Australia, India, the US and so on.

AH: How have views of automation changed in recent years?

AO: In the past—when we started our business—companies came to us saying, “We have a process. We want to automate it.” That’s it. I now believe there’s a shift in thinking. So that means people want to work with more advanced technologies and they want to solve problems in a more intelligent way. It’s more important than ever to work with such technologies to be able to take things to the next level.

AH: What’s an example of this?

AO: What we see with our customers now that’s especially interesting is the automation input. With documents, you get the input via PDF, via analog, via scan, and you can digitize and classify them. You can automate and bring them into your backend environment. This all requires high-level intelligence, and we’ve seen a push for this in recent months.

AH: What technology trends are you seeing?

AO: I see in the market right now a general push for new technologies and innovation, and we’ll see a huge push continue in 2023—that’s my feeling. What I’m seeing in the market is that companies are focused on getting more intelligent solutions into their enterprise environment. They are moving away from solving one-off problems, instead adopting the mindset of “How can we solve problems in a more intelligent way or with more advanced connected technologies?”. That’s where our experience in hyperautomation comes into play. 

AH: In your opinion, why do large-scale IT projects fail?

AO: I love that question to be honest because I think it’s never the technology which fails. It’s more about the people who are in front of the technology. Maybe they don’t understand how to use it, or maybe they’re not aware of how the processes work or how things are structured. 

That’s one reason we often see when it comes to our engagement, and the other part is people often expect the 100% solution. This is, of course, a way forward, but I’m not sure that always makes sense. In many cases 80/20 is a good approach to figuring out the most important things and to digitize them. It’s much more efficient than going for 100% right away.

AH: How do you convince someone of the value of new technologies?

AO:  Typically, companies invest in creating value and in problem-solving first. So they want to get a solution for the problems, and the technologies have to demonstrate how they can, for instance, improve efficiency, reduce costs, or enhance the customer experience. 

At Roboyo, we are experts in that area, so we can help companies understand how they can map their processes to the right technologies, and where they need to invest to make digitalization possible. And what we see is that you need to combine both the value perspective and the tech perspective.

AH: Where are you seeing hesitation?

AO: What we still see quite often is the topic of the cloud. We have many discussions of going on-premise versus cloud services. When it comes to advanced technologies, intelligent technologies, or hyperautomation technologies, you have to think about cloud services. You need training data and other models behind it, so we recommend going with the cloud. It can be painful to set up on-prem and to get the most out of the technology. It’s important to switch the business’s mindset to cloud-based solutions. 

AH: What if there’s a security concern with the cloud?

AO: Typically, we discuss with our clients in detail our own security measures plus that of our partners and the solutions we offer. We reassure their IT and security departments with the security measures we put in place and encourage them not to be afraid anymore – and most importantly to see the opportunities which result from the technology.

AH: You have an event coming up, All Eyes on Automation – Americas. What can we expect from it?

AO: Our All Eyes on Automation event is designed to provide a forum to exchange ideas, talk about new solutions, see how others have solved their digital transformation problems and learn from the best in the business. We’ve invited many of our clients to contribute whether that be a keynote speech, a panel discussion or breakout session – after all, they are the people you want to hear from who are making the technology work for them every day.  And of course, all our partners will be there sharing the latest technology and platforms and helping to understand how to implement digital solutions successfully. We’ve also just announced this year’s European All Eyes on Automation will be heading to Barcelona in September!

Learn more about Roboyo on their website, or you can check out the All Eyes on Automation – Americas event page.

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Jun 13, 2022 by Automation Hero

Technological advancement and an influx of Millennial and Gen Z consumers with high expectations for digital services are completely transforming the financial services industry. On one hand, consumers are experiencing the convenience of digital services in every area of their lives and want the same conveniences from the finance sector. At the same time, large legacy institutions are implementing more innovative technology to keep up with demand and compete with new, tech-first startups rapidly taking over the market.

Intelligent automation tools are already well known for improving efficiency and cutting costs, but they play a role in customer satisfaction as well. As the growing popularity of new fintech startups show, cutting-edge technology is synonymous with market buzz and customer growth.

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What do customers want from financial services now?

The financial services landscape looks very different now than it did in the last decade, let alone a whole generation ago. Looking at trends in banking, lending, and other personal finance sectors, it’s clear that consumers want these:

More convenience

Across the board of financial services, from banking to lending and beyond, consumers are opting primarily for convenient, online transactions through the web or mobile apps. 

A survey by Insider Intelligence found a significant 78% of Millennials never want to go to a physical bank branch if they can avoid it. With Millennials and Gen Z consumers now becoming banks’ largest consumer groups, it makes sense that foot traffic at banks has decreased by 10% to 20% in recent years.

Faster processing times

A new generation of tech-first insurance providers are making headlines with their quick approval times. Bank customers want their money transfers to go through instantly. In every sector of the financial services industry, customers seek faster approval times and processes to keep up with the pace of their lives.

More transparency

Since technology hasn’t enabled instantaneous processes just yet, many customers want to know the real-time status of applications or transactions they’re waiting on — without needing to make a phone call. Customers appreciate being able to log on to an app to see the status of a bank transfer, whether or not an insurance application has been approved, and where a claim is in the review process.

Intelligent automation tools to the rescue

Digital convenience, fast transactions, and real-time data transparency aren’t possible without streamlining back-end processes with AI. The latest generations of intelligent automation tools completely transform workflows with these features:

Streamlined data capture with OCR

AI can eliminate data entry by reading, categorizing, and extracting information from documents with minimal or no human review. This can reduce new customer intake, claim review, and other document-based processes to just minutes, or even seconds, compared to the slow speed of manual review.

OCR (optical character recognition) is the technology that can read text within documents the same way humans do. However, unlike humans, OCR can recognize characters, numbers, letters, and words — in any font or language.

As you might expect, the most significant impact of OCR is on manual data entry tasks. OCR speeds up this essential business process and makes it convenient to turn words from scanned PDFs or images into text that can be edited or copied without manual retyping.

Even with the limitations of legacy OCR technology, it can help organizations streamline the digitalization of structured documents. According to performance benchmarks, Automation Hero’s patent-pending Context-aware OCR is 68% more accurate than ABBY’s Flexicapture and delivers 281% greater accuracy in terms of handwriting recognition.

Natural language processing (NLP)

A field within AI called Natural Language Processing can actually analyze sentences to detect their intent. This makes it easy for AI to contextualize customer requests and automatically respond to them with pre-generated emails — faster than a human ever could. AI can even handle basic support requests, such as updating contact information or even canceling an insurance policy.

Automated data structuring

The vast majority of data that financial service providers collect from their customers is unstructured and unusable until it’s been properly processed. Common examples of unstructured data includes PDFs of financial records or scans of handwritten documents but also extends to email messages and social media posts. With the right training from users, AI can automatically extract useful information from these sources and categorize it. Data analysts can then use this to help develop customized products or inform sales and marketing strategy.

Intelligent document processing (IDP)

Intelligent document processing has emerged as a crucial element within the wider automation landscape. IDP was born out of the need for organizations to accurately extract data from documents. In essence, IDP leverages artificial intelligence (AI) and natural language processing (NLP) to effectively handle and oversee document-centric business processes. Through the adoption of IDP, banking institutions can optimize heritage processes involving a large volume of documents to reduce manual effort, enhance precision, and reach their digital transformation goals.

A notable advantage of IDP is its seamless integration capability with other automation tools like robotic process automation (RPA). This compatibility with existing technologies enables companies to enhance their current automation strategies, leading to improved overall efficiency and expanded operational scope.

Conclusion

The future of financial services is to become technology-first. Already, companies are using intelligent automation tools, such as Automation Hero, to streamline their processes and improve profitability. Now, it’s imperative to use these tools to improve customer satisfaction and increase market share. Experience the benefits of these tools in your own company by getting started with Automation Hero today.

Unlock the intelligence in your documents with our AI-driven automation today

Learn how we helped Markerstudy reduce its claims processing time by 40%. Additionally, learn how we reduced total claim processing time by 80% for another multinational insurance partner — cutting down manual tasks from 10 minutes to just two minutes per claim.

• Speak with an expert — tell us about your specific use case.
• Get a personalized demo — schedule a demo, and our Heroes will get in touch!

Jun 10, 2022 by Automation Hero

With so much disruption in the supply chain and marketplace, many companies need to take drastic measures to remain profitable. The digital transformation of business and industry has always been an ideal, but now it’s becoming largely a necessity. A 2021 survey by McKinsey found that only 11% of executives think their current business models will remain viable through 2023. As a result, 64% of all execs surveyed say their companies must build more digital businesses. Many legacy solutions businesses rely on, like robotic process automation (RPA), won’t be enough to take businesses into this new era. It’s imperative to invest strategically in AI technology that enables intelligent process automation.

With so many options in the marketplace, it can be challenging to determine which artificial intelligence solutions will be most useful.

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Intelligent document processing: The future of business

Business automation has evolved dramatically since the creation of RPA. Last decade, the tech sector created a new class of intelligent document processing (IDP) technology powered by AI, to automate much of the work of reading, classifying, and extracting information from documents RPA couldn’t handle. This decade, a new class of intelligent process automation platforms provide all the benefits of RPA and IDP that came before it, with a focus on more connectivity and cohesion between various systems for more efficient workflows.

Intelligent process automation (IPA) actually encapsulates the goal of the Fourth Industrial Revolution: the convergence of different technologies and automated processes for unimaginable levels of interconnectivity and efficiency. This will dramatically elevate business value, and potentially transform society as we know it.

How to achieve true efficiency with IDP

A digital transformation requires a well thought-out strategy executed over a number of years. Achieving it just takes proper assessment of the products and services in the marketplace, and a willingness to address resistance in an organization. Here’s what to do:

1. Aim for fully digital operations.

Digitizing processes has two benefits: one, it makes processes easier and faster to complete and it turns processes into data workers can analyze and refine for even greater efficiency. Many companies are well on their way to fully digital operations, but still have some paper processes to eliminate. Make a schedule to implement new automations every quarter or at least a few times per year.

2. Collect data about business processes.

In every digitized process, decision makers should regularly analyze performance to look for opportunities to further streamline operations. This data can indicate what process to automate next, how well a solution is working, or ways to consolidate more processes. The more workflows connect across systems and departments, the closer an organization gets to an Industry 4.0 future.

3. Solicit buy-ins and train employees through every step of the process.

Automation isn’t possible without the support and participation of company leaders and employees. Those leading the digital transformation in their organization should be prepared to act as educators and advocates for the value of the work they’re doing, both for the organization and the people who work there. Leaders in various departments need to understand how new technology can benefit them, and workers need to understand how to use it effectively. For example, leaders can emphasize that employees are capable of focusing on more valuable work when they’re not wasting time with repetitive tasks, essentially encouraging workers to embrace automation solutions.

If possible, involve department heads and other stakeholders in the decision making process about what automation solutions to choose, since they will have more insight into their specific needs and paint points. Lead discussions about how an IPA platform will improve productivity or serve the needs of a department in the near future. With these stakeholders, develop realistic roll out schedules and comprehensive training programs so implementation is as easy as possible. 

The best way to pursue a digital transformation is with AI platforms that are incredibly easy to implement, use, and scale, with potential applications to virtually any business process. Learn more about what to look for an IPA platform in a call with Automation Hero’s experts.

Unlock the intelligence in your documents with our AI-driven automation today

Learn how we helped Markerstudy reduce its claims processing time by 40%. Additionally, learn how we reduced total claim processing time by 80% for another multinational insurance partner — cutting down manual tasks from 10 minutes to just two minutes per claim.

• Speak with an expert — tell us about your specific use case.

• Get a personalized demo — schedule a demo, and our Heroes will get in touch!