How Software Development can be Benefited using Intelligent Process Automation

 

intelligent-process-automation

In the highly competitive digital world driven by technology, businesses need to rethink the way they operate, make decisions, predict future scenarios, increase productivity, and innovate. The need of the hour for them is to re-imagine processes and accelerate digital transformation by leveraging intelligent process automation (IPA). If digital transformation is about delivering value to customers quickly by optimizing business processes using digital technology, intelligent automation goes a step further. As legacy systems hinder the progress of achieving digital transformation holistically, businesses need an easily configured platform to deliver solutions. Enterprise service automation working in conjunction with legacy systems can act as a source for deriving intelligent insights into processes. 

Furthermore, when businesses have implemented lean methodologies to improve customer satisfaction, employee engagement, productivity, and cost-efficiency, they do not appear to have had the same impact on digital transformation . With macroeconomic conditions making it difficult to sustain profitability across sectors, businesses are having a relook at unlocking new value, reducing operational costs, and improving productivity. The foremost question for businesses to stay competitive is what more to do? This is where intelligent process automation kicks in with its all-encompassing benefits. Even statistics point to the inevitability of using intelligent automation solutions by businesses across verticals. According to statista.com, an estimated $10.9 billion will be spent on the IPA in 2021. Even Gartner predicts a ramping up of the IT automation market with three major visible trends:

·         An increase in data usage and diversity will let businesses invest in new storage and computing technologies.

·         More businesses are likely to create automated value chains, thereby accelerating the pace of automation. Technology leadership positions, such as CIO, are evolving into positions that seek to improve the customer experience.

Moreover, as COVID-19 continues to rage across the world, businesses are majorly impacted by disruptions in operations and supply chains. However, businesses adopting intelligent automation solutions can drive value during such challenging times. The financial crunch faced by most businesses as a result of the pandemic has created the need to improve work efficiency like never before. So, even though the promise of any new automation technology may be viewed with skepticism, the next-gen operating model with the right approach and capability can deliver results.

What is intelligent process automation (IPA)?

Intelligent process automation combines robotic process automation (RPA) with artificial intelligence (AI) to transform end-to-end processes through automation. It is a suite of next-gen tools and improvements in business processes to streamline or eliminate repetitive and routine tasks. IPA helps to radically transform customer journeys by speeding up interactions and processes. In essence, IPA does activities that are executed by humans and, with time, learns to execute them even better. It eliminates human intervention, which, in some cases, is known to introduce errors into a process and decrease its speed of execution. Enterprise process automation helps the levers of automation to gain decision-making capabilities by leveraging advances in cognitive and deep learning technology. It promises improved customer experience, enhanced efficiency and response times, reduced operational risks, and increased productivity.

Future of intelligent automation in software development

Since software development aims at making processes more agile, efficient, cost-effective, and delivering better value and customer experience, automation ought to be at its core. As the driver of digital transformation, intelligent automation has put its stamp on the future of the digital world. For example, by implementing intelligent automation, banking and financial services have seen an uptick in regulatory compliance, speedy transactions, safety, and cost reduction.

One of the critical processes in software development is QA testing to identify hidden glitches and vulnerabilities. In the Agile-DevOps model of software development, testing is done alongside development using test automation tools. Here, an intelligent automation system can study the code and identify outliers in a matter of seconds, which humans can take hours. By studying past code patterns containing errors, the IPA system can analyze any build and determine glitches. This can make the software error-proof and deliver a superior customer experience.

Use cases of implementing IPA

Incorporating IPA into the end-to-end processes of businesses can lead to significant benefits. Let us discuss a few use cases to understand how IPA can disrupt industries and drive value all across.

Financial transactions: Financial institutions, by implementing IPA, can gather more information on transactions made by their end customers from various sources. When this data is fed into an IPA system calibrated to perform predictive analysis, it can track and flag any fraudulent transaction, notifying the appropriate authorities. This can help to reduce instances of financial crime.

Retail customer support: In a typical online shopping portal with integrated chatbots, customers can get their queries answered related to orders, prices, or products. However, when it comes to performing a specific task for customers, the bots can leave a lot to be desired. This is where IPA can be of help. For example, if a customer intends to increase the amount of the order, cancel the order, or change the date of delivery, the chatbot can feed the information into an IPA system, which in turn can execute the task in a jiffy. This can provide instant gratification to the customer while reducing the burden on overworked customer service personnel.

Insurance: In auto insurance, the process of assessing claims on damaged vehicles can be simplified and streamlined by using cognitive automation. The system using image recognition can process the images of damaged vehicles with minimum human intervention.

Conclusion

Businesses across sectors ought to develop new operating platforms by investing in IPA. They can be the winners of tomorrow by embracing the next-gen operating model and capturing value from automated processes. By aligning the IPA model with their organization's culture, they can achieve digital transformation in its true form and deliver customers with the best possible experience.

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James Daniel is a software Tech enthusiastic & works at Cigniti Technologies. I'm having a great understanding of today's software testing quality that yields strong results and always happy to create valuable content & share thoughts.

Article Source: nasscom.in

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