Digital process automation (DPA) is more than just a mere industry buzzword. Digital Process Automation (DPA) is fast emerging and is considered to be an important evolution of the previously established category of Business Process Management (BPM). It is born out of a need for the organizations to be increasingly agile. This change is strongly driven by the growing need for businesses to rapidly automate processes as to focus on their digital transformation initiatives. DPA goes beyond the internal processes by empowering organizations to become even more customer-centric in their approach, while remaining agile and innovative in their product development and responsive to market trends and demands.
Digital Process Automation – Why and When?
Companies are eager to identify and adopt effective digital transformation solutions to engage customers and stay competitive. Enterprises are keen on developing custom, process-driven digital business applications to meet the needs of the digital enterprise. Leading businesses are now placing strategic imperative on digitizing operations to become more customer-focused, responsive organizations. Enterprises need to bring new products to market and how they meet evolving customer service expectations across the lifecycle. In the age of the digital customer and in the context of an ever more competitive, global economy, DPA is the key to surviving and thriving.
What benefits does DPA bring to the Enterprise?
The most important benefit of DPA is enabling more agile operations, which are majorly, customer-focused and at a lower cost. DPA empowers the enterprise by being:
- More responsive to customers
- Delivering products to market faster
- Providing an enhanced customer experience
- Reducing costs and overheads
- Providing Operational stability
- Reducing errors and person hours
Enterprises arm their employees with the right information at the right time and in the specific context. This helps them to do their job more effectively and respond to the changing needs of digitally-savvy consumers. The employees have only, a moment to engage with the customers in this hyper competitive environment. Digital Process Automation provides simpler and convenient processes to help the customer-facing staff as they are now, able to make informed and relevant recommendations at the critical touchpoints. This defines the overall customer experience.
Implementation of DPA – Key to Drive Market Growth
Banking and Finance
The Banking and Finance sector is ahead of the curve when it comes to implementing DPA. Financial Services is leading the charge and the industry is going through unprecedented change. The traditional providers had to rethink how they operate and improvising ways to serve customers. They are aware of the fact that they need to provide an exceptional customer experience across an array of constantly changing financial products. In this tightly regulated environment, customer service fails could be well-publicized.
DPA has the potential to change the patient-doctor relationship by making it better and beneficial for both the parties. Healthcare innovation connects everything together for delivering care at the convenience of patients and doctors. There is greater scope to digitize patient self-management system. The digital process automation helps in providing accessibility to all the patient information which is available in real-time. It eases the diagnosis thereby, providing primary and secondary care. Also, refilling prescriptions, scheduling appointments and payments are done in a smooth manner. It will reduce the laborious administrative work and put more focus on the actual care.
Digital process automation is considered to support the manufacturing Industry to construct a better future. There is a huge scope of innovation with IoT (Internet of Things), Machine Learning (ML) and intelligent robots. Data plays a big role here. Manufacturers, using cloud-based solutions, can analyze the collected information to meet customer demands and improve production processes. Spawning the silos of information together will streamline the product design, facilitate production improvement, expedite delivery and improve end-user experience.
DPA is fast becoming one of the most disruptive technology developments that promise to improve service delivery. RPA (Robotic Process Automation) is receiving wide acceptance in the retail sector. RPA is the process of using software with Artificial Intelligence (AI) and Machine Learning capabilities. It is capable of handling high-volume and repeatable tasks that previously required a human to perform. It has proved to be quite useful since it can be applied in many structured, repetitive and rule-based tasks. Retail companies are adopting RPA into their existing traditional processes. RPA helps the retail business in processing payments, procurement and inventory management. RPA has eased the regular communication between manufacturers, suppliers, transportation service providers, and customers. It helps companies to gather information about business patterns thereby, revealing potential supply chain disruptions.
Trends to Watch
In today’s challenging digital marketplace, organizations must focus on innovation and efficiency to stay ahead of the competition by rapidly automating processes to deliver excellence. Among the fastest-growing segments of business technology today, Digital Process Automation rules the pack. All companies realize the benefits of Digital Process Automation. DPA helps to enhance productivity, save time and increase efficiency across your organization. Some trends to watch out for are:
- Rapid advancements of IoT devices and AI tools will be used for a lot more.
- Blockchain will continue to advance and used to achieve operational efficiency by automating business processes.
- Connected clouds (Public, Private, Hybrid) are evolving to meet the varying needs of companies and will continue to innovate.
- Augmented analytics will advance. Automated insights from augmented analytics will be embedded in enterprise applications.
- Internet of things (IoT) adoption among mid-market and enterprise businesses will get accelerated.
- Prioritizing re-usable automations instead of building from scratch.
Digital transformation is compelling organizations to deploy and adapt processes in order to cope up with the tactical and strategic demands of the business. Organizations need to invent ways to transform the traditional approaches into technology innovation and implementation. Enterprises and institutions need solutions that are more intuitive so that IT can be freed up to concentrate on the core tasks. DPA is able to transform processes thereby, increasing agility and deliver great customer experiences. With digital process automation, organizations are able to operate in a faster manner and scale more efficiently. Businesses now, compete more effectively in the era of globalization and hyper-competitiveness.
Nairita Goswami, Marcom Specialist, RapidValue