Why Advanced Business Process Automation for Straight-through Processing?
Organizations invest in many technologies, heavily involving the internal and external key stakeholders in many projects, and put tremendous challenging tasks in front of business automation and IT to create a seamless process for customers and consumers. So, how is advanced business process automation significant in addressing these challenges?
These types of complex straight-through processing require many different technologies working together as part of the overall business process.
Straight-through processing is a challenging goal but achievable with the right technology that delivers advanced business process automation.
Why do organizations invest so much in process automation to achieve straight-through processing? Because of the outcomes- lower costs, fewer errors, much faster execution, fewer mundane tasks for employees, and ultimately better customer experiences.
In Forrester’s Q1 2020 Digital Process Automation Survey, 37% of organizations placed the primary focus of current process improvement efforts on driving digital business transformation, while 34% cited improving customer service as the primary focus.
Complex Processes Require Multiple Technologies
Let's look at an example of a complex business process and how multiple technologies come together to enable straight-through processing and make the process seamless for the consumer and internal staff.
From the Center of Excellence (CoE) in organizations, it is critically important to make sure that the right automation tool is used for the specific problems and enables the advanced business process automation.
More often, the team picks the tools they are familiar with, i.e. using Robotics technology, e.g. RPA to implement orchestration, task automation, rules, etc. However, this will lead to failure in terms of delivering the expected outcomes.
- Robotics e.g. RPA: automating manual tasks that are not about decision making, and not related or involved in any regulations and business rules.
- DPA or Digital Process Automation: execution and managing long-running business processes.
- Decision Automation i.e. Decision Management: managing, executing, and combining predictive (ML) and prescriptive (Rules) analytics for decision making.
- Decision Robotics: automating manual tasks, including tasks related to decision making.
As explained in the above example, you will need to, integrate multiple technologies, and then manage, model, and execute long-running orchestration for end-to-end automation of business processes. The integration of multiple technologies comes with a set of big challenges that you need to be prepared for to avoid the sub-optimal solution and ensure the ROI.
Some of the tools in your toolbox might have an overlap with each other in terms of functionalities. Selecting the right one will require careful analysis of the immediate needs and business requirements to ensure the business outcome, in the long run, are achievable.
For instance, implementing rules driven by market dynamics and regulatory requirements with business process automation tools will result in embedding them into the process, which is no different from coding them in applications.
Authoring and Management Environment
Using multiple technologies and integrating them for a specific solution, tracing execution state across various systems for debugging, simulation, monitoring is a challenge. The correlation and aggregation of a request spanning multiple boundaries are very challenging and suboptimal.
Also, there will be the cost and time for training the team and getting them up and running and expert on multiple integrated solutions. Each has a different approach and angle to solve a particular scenario and a use case.
Compelling Advantages of Advanced Business Process Automation
A unified platform for advanced business process automation gives the team the flexibility to orchestrate and use the right solution for the specific scenario in a seamless and integrated manner. Meaning, in the platform's toolbox, you have all the components ready to use and already integrated for business rules and decisions, Robotics, AI/ML, etc. Or you can use them individually without sacrificing and contradicting their purposes e.g. not embedding business rules in a business process.
The right unified, low-code platform not only significantly reduced the upfront cost of multiple solutions in licensing, training, and after-market requirements for integration, monitoring, tracing and etc. but also increases the team's productivity by a factor of 100; as the team needs to learn only one solution and the rest are taken care of by the platform provider.
Last updated November 9th, 2021 at 11:31 am, Published September 3rd, 2021 at 11:31 am