Human error can be one of the most insidious barriers to business growth. Manual processes that rely on people to perform them can create issues that quickly go undetected.
While errors may not be catastrophic, the inevitable inefficiencies and bottlenecks can prevent businesses from reaching their growth potential and frustrate employees with repetitive, menial tasks.
Automating these manual processes can make them far more streamlined and efficient, eliminating the risk of error.
Most importantly, it frees up employees to focus on growth-creating activities – something especially crucial in the wake of a growing labor shortage, which has led to fewer pools of talent that businesses like yours can tap into.
Over the last few years, the working world has undergone a tidal shift. Millions of people have left their employment in what has been dubbed as the “Great Resignation,” with a significant number opting out permanently. Last year, more than 48 million people quit their jobs, a 23 percent increase above pre-pandemic levels.
Now, as employers around the country work to offset labor shortage challenges, companies are doubling down on their RPA and intelligent automation investments to not only sustain operations but also maintain their workforce while attracting new talent in the long term.
Automating Human Functions with Intelligent Automation
The labor crisis is creating an opportunity for businesses to use Intelligent Automation (IA) to streamline and speed up procedures that were previously conducted by people. IA technologies can help businesses do more with less by addressing a number of critical areas:
Conversational AI, often known as chatbots, has grown in popularity as a means of resolving customer support challenges. Customers can simply interact in the service process and use live self-service to handle their issues without the need for human input. Chatbots reduce call volume, allowing human agents to focus on more difficult requests rather than answering trivial inquiries.
For invoice processing, RPA can automate data input, reconciliation error correction and some decision-making. But the challenge is dealing with the many formats different vendors use for their invoices. That’s where Intelligent Automation can contribute—by using NLP and other machine learning techniques to understand and pull out necessary data from the invoices, normalize it to a structured format, then send it back to the RPA platform for automated data input, error handling and so on.
Financial document analysis
Financial firms need to compile lots of data for monthly and quarterly reports. RPA can aid in the process by automating data collection from various structured sources. But if you introduce unstructured PDF documents into the process, RPA hits its limit. Now you need the OCR and NLP capabilities of an IA solution to pull out relevant information and convert it into a structured format that the RPA tool can deal with.
Payroll Transaction Processing
Payroll processing repetitively every month is a time-consuming and recurring task for each organization’s HR team, and this also requires significant data entry efforts. This often results in data inaccuracies that can cause delays in payment and staff discontent. IPA can check the consistency of employee data across multiple systems, validate timesheets and deductions. It can also automate salary formulating processes and manage benefits and payments. IPA can automate end-to-end payroll transactions to avoid inaccuracies and delays.
Here at SALIX Data, we recognize how to develop, scale, and run intelligent automation solutions tailored to your company’s needs, enabling businesses like yours to deploy advanced technologies like AI and RPA to streamline and speed operations that people traditionally perform.
Businesses must ensure they have the right support in order to get the most out of their digital transformation investment and empower their workforce, thus fostering better employee experiences and greater organizational output.
Our methods, best practices, and certified consultants will ensure a quick and smooth transition while allowing you to effectively augment employee capabilities and make them more efficient on the job.
Contact us today to learn how we can help your best people do more with less.