10 examples of using intelligent automation

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Now let’s move on to the best examples of using intelligent automation to achieve excellence in business operations.

1. Cross-selling mortgages
The mortgage market is highly competitive. Despite this challenge, most banks have neglected what is perhaps their greatest asset: their existing customers. In fact, only 20% of customers get a mortgage from their primary bank.

That’s why more banks are turning to intelligent automation to sell mortgages to their existing customers. Intelligent automation platforms leverage vast amounts of customer data to identify cross-selling opportunities. For example, the system can alert bankers when customers exhibit certain behaviors that indicate they’re buying a home.

What is relevant behavior? Relevant behavior can be something that suggests a change in employment status (e.g., a new source of deposits). Once informed, bankers can contact customers using the most effective means of communication based on their data profiles.

2. Procurement-to-pay (P2P)
Have you ever thought about how repetitive and time-consuming traditional procure-to-pay (P2P) processes are? We certainly have. Typical P2P tasks include evaluating and selecting suppliers and extracting invoice and payment data from multiple sources and systems.

Third-party sources can include things like banks, suppliers, and logistics companies, while examples of systems include CRMs and ERPs. A lack of integration forces employees to perform manual tasks.

That’s why many organizations have turned to intelligent automation to improve the efficiency and cost-effectiveness of their procurement processes. Robotic process automation (RPA) improves integration by making P2P tasks more efficient. These tasks include purchase requisitions, ordering, invoice approval, and supplier management.

What is the difference between RPA and intelligent document processing?
3. Boarding and disembarking of employees
Employee onboarding and detoxification are tedious processes that consume a lot of resources. New hires need to be trained, paperwork completed, and new tasks assigned. When it comes to employee onboarding the most common tasks are obtaining a resignation letter, paying the balance of salary and expenses, and safely returning company assets.

Business process management (BPM) allows organizations to complete all required onboarding and detoxification tasks. New employees will be provided with the tools they need to do their job, such as access to a computer and a security card.

4. Process from quote to payment
A fast quote-to-cash (Q2C) process is essential for any organization. Businesses need to send quotes, fulfill orders, invoice customers, and receive payments to maintain cash flow. Yet many businesses continue to rely on manual processing, which is slow, costly, and prone to costly errors.

Intelligent automation streamlines the quote-to-cash process. Automation technologies like machine learning (ML) and artificial intelligence (AI) automatically extract information from documents like contracts or invoices. Other Q2C tasks that lend themselves to automation include order pakistan mobile numbers list download fulfillment, new customer onboarding, and account opening. Freed from manual tasks, employees can focus on higher-value tasks like generating more sales and providing superior customer service.

5. Customer relationship management
Customer relationship management software has been around for decades. However, customer relationship management systems and processes are still plagued by inefficiencies.

Customer relationship management (CRM) software is a powerful marketing tool, but it can add more work for sales teams instead of saving them time. Employees often have to manually search for and enter data. This prevents sales teams from doing what they do best: interacting with customers and closing deals.

Intelligent CRM automation eliminates manual tasks, allowing reps to focus on strategic work and sales. Contact management and advanced analytics are examples of key features of intelligent CRM automation. Contact management features make it easier for teams to find and access customer data and integrate it with other third-party applications. With advanced reporting and analytics capabilities, sales teams can create detailed sales forecasting models and make data-driven decisions.