Why Intelligent Automation should be a priority for every Enterprise in 2020-21

The application avenues of Robotic Process Automation and Artificial Intelligence have been intensifying over the last few years. In Deloitte’s 3rd Annual Global RPA Survey Report, the top three priorities of business in terms of bringing intelligent automation services to fruition were:

1. Focusing on continuous improvement
2. Increasing the level of automation
3. Developing analytical capabilities

Given the impact of Intelligent Automation on all three focus areas, it is not surprising that organizations are doubling their bets on the technology.

While enterprises are considering many applications of the technology in their businesses, only 3 percent of progressive leaders have reached any kind of scale with over 50 robots in service.

By leveraging an intelligent finance eWorkforce, organizations can reduce manual processes by 90 percent. Here’s how:

• Visual Process Automation – A large amount of processes in BFSI would need processing of unstructured data cross multiple document formats like pdfs, excel and emails. Leveraging Machine Learning with OCR, this data can be extracted and processed in the automation workflows.
• Conversational Process Automation – Use Natural Language Processing – NLP and chat bots for contact center automation, customer support through voice and chat.
• Robotic Process Automation – RPA for repetitive tasks such as data entry, data processing, and analytics, therefore freeing up valuable human labor and allow humans to focus on value-added jobs.

Banks can automate routine, repetitive processes like data collection, reconciliation, and reporting for the monthly financial close process. Seamlessly create standard monthly journal entities with pre-populated templates from various business users. Process Automation streamlines filing of federal tax returns, manage corporate treasury. Finance controllers are assured that controls are executed correctly, and leverage automated budgeting, forecasting, and MIS reporting.

Deploying Intelligent Automation at scale would enable banks to process unstructured documents. These range from KYC data, mandate change requests, bank statements or financial reports for processes like loan processing, trade finance, etc.

Investment Banking firms need to comply with Federal regulations for testing the Trade Data for their wealth management customers. Data volumes & transactions run into millions of on a monthly basis. Manual review of each transaction data is practically impossible & error prone leaving the teams with option to validate only a small percentage of actual data.

With Intelligent Automation, these firms can ensure wider coverage & free up their human resources from manual and tedious activities. Listed below are some of the benefits of automating the Trade Data testing process:

1. 100% coverage for validation of all trade data ensuring better compliance & audit
2. 75-80% reduction in manual efforts for the finance team
3. Timely completion of the validation process resulting in pro-active measures for any corrections or internal reporting

Insurance companies operate in a complex scenario. A wide array of products catering to Property and Casualty. Within Property, there are a myriad of products ranging from Homes, Cars, Industrial and Freight. A large & diversified portfolio offering leads to volume of inquiries touching on several issues.

Therefore, Intelligent Automation can help streamline agent and broker processes, accelerate claims management and prevent fraud. Besides, it helps insurance companies deliver better customer experiences by freeing up their employees to work on critical issues.

• Low Initial Costs – The cost to embark on an intelligent automation journey today is very low. Enterprises can start today and pay as they go with flexible pricing models and no per bot licensing fees.
• Low Total Cost of Ownership – As companies start to offer pay per use models, organizations can make Intelligent Automation their own by investing small amounts over a period of time instead of large upfront licensing fees.
• Start today – Forget time-consuming integrations and hassles of finding where Intelligent Automation fits in your enterprise. Start today, without any upfront investments in your IT infrastructure with AI powered cloud-based automation.

Turn the key and fire up your intelligent automation processes today! Intelligent Automation as a service (iAaaS) helps with faster time-to-market by eliminating complex integrations, restrictive licenses, or upfront costly investments.

supervity.ai is a pioneer in making intelligent automation accessible to everyone- right from a small-sized company to a multinational business. We help organizations automate processes that work on unstructured data right from your business documents including invoice, purchase orders, KYC, financial reports, text-based communications over email, chatbots and voice based automation for contact centers.

Deploy supervity.ai eWorkers seamlessly with your enterprise architecture. The platform supports integration with all major enterprise applications including SAP, Oracle and similar ERPs. API based integration for cloud native SaaS applications like Salesforce, Hubspot, Zendesk, ServiceNow, Workday, Freshworks suite. Practically integrate all of your businesses applications bringing data from across customer touch points into your business workflows.

Developers can either leverage pre-built low code AI models on the supervity.ai platform or bring in their own models from external platforms like Google, AWS and Azure machine learning services.

With a wide array of application integrations, you can hire our eWorkers or build your own workflows to support and augment your business teams across Finance & Accounting, Sales, Customer Service, Marketing, IT department, HR and Vendor management.

Curious still? Reach out to us at automate@supervity.ai