Intelligent automation (IA) is advancing from operational efficiencies to becoming a strategic asset for many organizations. A recent study by SS&C Blue Prism, conducted in collaboration with Forrester Consulting, analyzed data from five companies and concluded that IA significantly enhances productivity, compliance cost avoidance, and employee retention. These improvements translate into a net present value of $53.4 million per customer over three years. The report highlights that IA’s benefits extend far beyond basic task automation, encompassing more complex processes and strategic goals.
Comparing current findings to past reports reveals a marked progression in intelligent automation’s capabilities. Initially, IA was focused on automating repetitive tasks to reduce operational costs. Now, AI enhancements enable more sophisticated applications, such as processing semi-structured data and orchestrating complex workflows. Moreover, past success stories often centered on finance and insurance sectors; today, IA’s adoption has broadened to industries like healthcare and retail, demonstrating its versatile utility across different business environments.
SS&C Blue Prism’s document automation technology stands out as a significant innovation. Automating data extraction from documents, whether executed by robots or humans, has streamlined many processes. The company’s use of artificial intelligence and generative AI further enhances these capabilities, making it possible to assess and structure semi-structured or unstructured information effectively.
Wider Adoption Across Industries
SS&C Blue Prism’s BPM and process orchestration tool, Chorus, has gained recognition, extending its use beyond finance and insurance. Hailed as a star performer by analyst Everest Group, Chorus is now adopted in various sectors for managing millions of transactions daily. The tool improves end-to-end work orchestration, visibility, and efficiency, demonstrating the scalability of intelligent automation.
Healthcare and Retail Success Stories
Healthcare clients have shown substantial financial benefits from IA, such as one instance of a $43 million saving from a bot that recouped overtime pay. Similarly, a large US retail company with 72,000 employees has processed 6.2 million transactions and saved 250,000 work hours using IA. These examples underscore IA’s potential to generate significant value when embedded into business processes.
Key Takeaways
Concrete and valuable inferences for organizations considering IA implementation:
– Increased productivity and compliance cost avoidance can significantly improve the bottom line.
– AI and generative AI capabilities enhance the sophistication and effectiveness of task automation.
– Successful IA implementation requires continuous process improvement and adaptation to changing business rules.
Organizations must recognize that intelligent automation is an iterative process requiring ongoing refinement and discipline. The examples provided by SS&C Blue Prism highlight how IA can lead to substantial savings and enhanced operational efficiency when effectively integrated into business strategies. By leveraging tools like document automation and process orchestration, companies can optimize their workflows and achieve strategic objectives. The key to success lies in maintaining a central function to manage and improve IA processes continuously. This approach ensures the automation delivers consistent value and aligns with the company’s goals.
