By Sachin Rane, EVP & Head- Software Solutions, Datamatics
Businesses need to be competitive and stay ahead. They need to look for avenues to automate business critical processes and improve productivity. Hyperautomation led Digital Business Automation allows businesses to move beyond point solutions deployed using single technologies. In fact, it overcomes limitations of both technologies and processes. Systematic architecture of the process blueprint allows to automate and integrate end to end processes and achieve tremendous scalability in operations. IBM Cloud Pack for Automation popularly referred to as IBMCP4A allows businesses to hyper automate their processes and jump start their digital business automation journey.
What is Hyperautomation?
Hyperautomation is maximum process automation. It uses RPA, AI/ML, IDP, workflows, analytics, process mining, and allied technologies including process discovery, low code, and business rules.
IBMCP4A makes an intelligent use of these trending technologies to bring forth cloud-ready, easy plug and play Digital Business Automation solutions for businesses.
- Robotic Process Automation (RPA) allows to automate repetitive rule-based tasks in the structured domain.
- Artificial Intelligence / Machine Learning (AI / ML) allows to handle the data in the unstructured domain through continuous self-learning.
- Intelligent Document Processing (IDP) allows to intelligently capture data from unstructured forms, PDFs, and hard copies.
- Drag and drop workflow elements allow to build forms and connect diverse processes in to a systematic workflow.
- Analytics allows to tap information databases, generate actionable insights with do it yourself (DIY) tools, and create visual format complete with graphs and pictorial depiction of the data story.
- Process mining allows you to discover, monitor, and improve as-is processes through extraction of information elements from the existing data.
- Process discovery tools pick up digital footprints, analyze them, and create a digital process representation for architecting new processes.
- Low code and no code development tools allow to visual pick, drag, and drop components to build trendy applications.
- Business rules allow to tailor the workflow of a hyperautomated mash up, which involves multiple technologies, to bring forth a highly customized solution.
IBMCP4A combines all these elements and automates maximum knowledge work. It cuts through all departments in the organizations and involves each and every entity in the ecosystem.
It allows enterprises to move beyond point automation solutions and supports high complexity business processes such that the process owners can execute them even from remote locations.
Digital Business Automation – Common use cases
Here are some common use cases that tremendously benefit enterprises. These use cases are cloud-ready and can be deployed on-premise or on cloud.
Trade Finance Accelerator
The Trade Finance Solution supports the entire volume of processes in the Trade Finance domain, which is highly data and document-centric.
It uses cognitive capture, robotics, automated decision management, no code / low code design elements, and AI/ML over a cloud-based enterprise content management (ECM) solution in the backend.
It is a type of digital worker that takes care of the Trade Finance process cycle in a clockwork fashion thus allowing straight-through processing or STP at high speeds.
The Trade Finance Solution seamlessly integrates with globally acclaimed compliance systems including Hunter, FICO, FIRCO, Worldwatch, internal bank sanction lists, etc.
The solution also effectively supports vessel tracking, AWB tracking, shipment tracking, etc., thus alleviating the need for manual intervention at any stage.
The solution offers features such as smart inbox that facilitates load balancing and highlights cases that are about to breach service level agreements allowing smart action at the right time.
The Trade Finance Solution accelerates turnaround time, improves productivity, and speeds up document scrutiny from 4.0 hours to within 1.0 minute due to inbuilt algorithms.
Loan Origination Solution
The Loan Origination Solution enables lenders to expedite customer document verification and accelerate lending processes with straight through processing. It seamlessly integrates with the core BFS systems.
The Loan Origination Solution supports all channels including online banking, mobile banking, and direct sales as per the choice and convenience of the BFS customers.
The solution automates customer screening, document verification, deduplication checks, go/no-go decision making, etc.
The solution tremendously improves productivity and scalability of the Loans department of the BFS enterprises and offers a powerful thrust to their digital journeys.
Digital Workplace eOffice Solution
The Digital Workplace Solution is a cloud-based office away from office. It is ideal for Manufacturing and Government units as well as all paper-intensive process domains.
It allows complete automation of office routines, which invariably get held up due to long winding inter-department approval processes, at times resulting in loss of documents during transit.
The solution sits atop the Enterprise Content Management (ECM) system, which can be hosted both on-premise and on-cloud.
It seamlessly integrates with all enterprise systems, enterprise email, and immersive systems used in Education Technology, as well as all connects remote offices and work from home executives.
The Digital Workplace eOffice Solution improves process visibility and accountability. It also improves turnaround time and productivity.
It eliminates document loss in transit, reduces operational costs, optimizes manpower, and supports faster decision making.
Contract Management Solution
The Contract Management Solution is a cloud-based solution and supports negotiation as well as management of contracts at all levels and across industries.
It allows effective communication between vendors, customers, and partners, anytime anywhere. Thereby it allows end-to-end contract management and improves productivity and accountability.
The Contract Management Solution is developed by using principles of Library Management and supports dynamic process, asset, and user interface creation, which users can create independently.
Benefits of Digital Business Automation
- Automates tasks to the maximum possible extent
- Eliminates human intervention in core business processes or “maker” processes
- Reduces time required for scrutiny or the “checker” process and can be performed remotely
- Significantly improves productivity and scalability
- Allows lights off performance in absence of on the ground personnel
- Allows anytime anywhere initiation, access, and resolution through the hyperautomated solutions
Simply put
Cloud-based Digital Business Automation solutions or Hyperautomation business accelerators improve productivity during maritime, business as usual activity. Being cloud-ready, they are competent to be used for remote operations. These solutions accelerate business processes and significantly improve and expedite the checker and scrutiny tasks in business processes.
