Intelligent Processing For Small And Medium Sized Businesses
Aspiring new businesses can easily amplify their growth and productivity with the integration of intelligent processing. Backed by artificial intelligence, contemporary processing solutions are designed to make the best use of data and resources to benefit small and medium-sized businesses. Said another way, it is a process by which companies are training robots or computer applications to simulate routine or repetitive responses that would generally be given by employees, resulting in shorter time to market and improved business returns. IPA robots perform tasks by interacting with in-house digital resources to carry out a business process just like humans do. Unlike humans, robots never get tired and perform regular error-free tasks and cost a lot less.
Intelligent Process Automation (IPA)
Intelligent Processing is an upgrade to Robotic Process Automation (RPA), which is already being used extensively in today’s business world. Maximizing the efficiency of robotic automation with intelligent learning models, intelligent processing is a complete solution suite driving seamless business improvement. At its core, IPA is designed to imitate human behavior and continuously evolve with each action.
To do so, Intelligent Process Automation (IPA) uses strong cognitive capabilities extracted from machine learning, language processing, speech recognition, and computer vision technology.
Role of Intelligent Processing in Business Growth
The average small/medium sized business produces 1.7 megabytes of new information every second. The data volumes are exploding, more data has been created in the past two years than in the entire previous history of the human race. Every second we create new data. For example, we perform 40,000 search queries every second (on Google alone), which makes it 3.5 searches per day and 1.2 trillion searches per year. Leveraged with a strong IPA tool, businesses can reduce operational downtime by identifying and reducing lag areas, connecting distributed processes to shorten processing time and much more.
Efficient Customer Service Solutions
Intelligent Processing helps improve customer experience, first by categorizing subprocesses. Once seen as components, the metrics that are used to define customer experience quality can be better examined, improved and changed if needed. For example, integrating intelligent processing within inhouse customer support services can significantly improve the efficiency of support agents. Easy metrics such as lead time per agent, number of successful cases closed, and common service challenges can be identified and improved—as a win-win for the customer and the agents. Another way IPA works is through behavioral analysis. This literally pinpoints customer pain points in terms of severity, frequency and uniqueness, helping decisionmakers focus on the real problem that needs to be solved.
Intelligent Marketing and Budget Management
Recently, we have seen digital marketing make great inroads with intelligent processing. Using sentiment analysis algorithms to analyze customer engagement with marketing output—whether it is an entire campaign, or individual collateral. IPAs also help reduce guesswork in A/B tests and bring quantifiable evidence to justify marketing spend.
Click baiting used to be a real bane for product managers and customers alike. Thanks to IPA, the incidence of such practices has been reduced, as decisionmakers can trace the return on each effort invested.
Small and medium sized businesses will be the ones set to benefit the most from IPAs. With the help of such solutions, they can make informed and controlled decisions on headcount, facility expansion and capacity management.