Intelligent Automation Examples

intelligent-automation

Intelligent Automation (IA) is an advanced level of digital automation used by organizations to significantly improve their essential operations. IA software mimics human intelligence and decision-making. Ordinary IT automation digitally performs perfunctory, thoughtless operations but IA does decision-making and thoughtful tasks. IT automation, such as Robotic Process Automation (RPA), is rule-based technology that produces repetitive work. IA uses Artificial Intelligence (AI) technologies such as Machine Learning (ML) and Natural Language Processing (NLP) to behave with human-like judgment during its tasks. Here are some key examples of using IA to excel the functioning of any organization:

Mortgage Cross-Selling

Banks that want to gain new mortgage customers can appeal to their own banking customers using IA. Large amounts of banking customer data can be harvested from their transactions. When significant activity clues are detected, such as larger checking or savings account deposits, it can mean a job change. This can trigger an awareness of the customer’s new financial status, marking him as a candidate for direct marketing efforts of the bank’s mortgage products, using the most effective advertising means based on their bank account profile.

Procure-To-Pay (P2P)

The process of procure-to-pay (P2P) is the sequence of actions involving requisitioning for a product or service, then receiving it, then paying for it, then accounting for it. This process integrates both the purchasing department with the accounts payable department. Traditionally, this process is full of manual, repetitive tasks, such as contractor selection and invoicing from many sources and systems. Using advanced software such as Robotic Process Automation (RPA) can streamline the sequence of disparate departmental tasks and interactions.

Employee Onboarding And Offboarding

Company’s need to hire employees and sometimes discharge them. These unavoidable events require tedious paperwork to be done. New employees must be onboarded with:

· profile forms filled

· paperwork completions

· training provided

· new tasks assignments

· the creation of computer accounts

· assigning security badges

Employee offboarding also consumes time and resources, such as:

· preparing exit paperwork

· final paycheck

· retrieving company property

IA software tools can ensure the simplified performance of the onboarding and offboarding tasks to be completed automatically and efficiently.

Quote-To-Cash Process

Organizations must maintain cash flow to survive. This is done by the company offering products or services for sale to potential customers. This is followed by giving quotes for consideration to customers. The process continues with fulfilling those orders, then billing the customers, then collecting payments for the goods or services that were provided. This sequence of actions is slow and expensive when done manually. Using advanced software tools enhanced with AI and ML can automate and streamline these tasks by digitally extracting invoice or contract documents.

Inventory Control

Companies that sell tangible products need to perform inventory control to keep up with sales and replenish supplies for new sales. This process traditionally demands extensive manual resources. Such labor-intensive tasks as creating work orders, producing invoices, and shipping the products are involved. These operations in turn demand complicated back-office work. By using IA solutions, inventory control can be streamlined by automating essential tasks of supply chain replenishment, order fulfillment, and shipping functions.

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