The pandemic-led economic uncertainty in 2020 forced organizations to cut spending and focus on operational efficiency. As businesses rapidly adapt their business models, investments in advanced automation technologies have increased, despite the overall decrease in spending.
The early adopters of robotic process automation (RPA) and other digitally abled businesses started relying heavily on artificial intelligence (AI) and machine learning (ML) technologies to automate as much as possible to reduce human errors, interventions, and delays while improving process efficiency. Though AI and ML tools helped them achieve the fine balance of improving agility and reducing costs, businesses soon realized that a piecemeal approach to embedding automation tools cannot deliver long-term value.
Siloed automation may deliver short-term gains such as an immediate reduction in operational costs and faster processing time but cannot yield expected RoI in long run. It became evident that holistic automation is the only way forward to achieve sustained long-term value. Watch on-demand webinar to learn more about ‘How to move away from automation silos’
Holistic automation combines complementary automation technologies to achieve end-to-end automation. When RPA, AI, process mining, business process management, and other business automation tools are used in conjunction, the scope of automation is amplified. As more and more tasks are automated within the end-to-end process workflow, those business processes become more efficient, reliable, scalable, and easier to adapt. These benefits ultimately translate into a sustainable long-term gain as well as improved customer and employee engagement.
It is important to note that despite the amplified scope of automation, the human workforce is and will always be an integral part of business processes. Holistic automation allows better utilization of human intelligence for innovation and better outcomes, while automation tools are used to automate menial, and repetitive tasks.
Leading industry analysts namely Gartner, Forrester, and Everest Group have unanimously emphasized the importance of holistic automation. The recent predictions shared by these analysts confirm the shift towards holistic automation.
As per Gartner, Predicts 2021: Accelerate Results Beyond RPA to Hyperautomation, “… far more than just robotic process automation (RPA) is needed to deliver resilient operational excellence. Organizations are shifting, or have shifted, to consume more impactful integrated hyperautomation technologies….”. Hyperautomation is a term coined by Gartner that suggests the use of RPA, AI, BPM, and other automation tools in conjunction.
As per Forrester, “AI adoption grew 15 percentage points in the past year, and maturity is rising as firms move past small, incremental deployments.” In 2021, digital transformation initiatives in more than three-quarters of enterprises will focus on automation—whether for core records, customer operations, or engagement, the firm said.
We, at Nividous, realized quite early that automation must be approached holistically and not siloed. Therefore, from day one we have focused on building a comprehensive business automation platform that harnesses the power of RPA, AI, and BPM. Having these three key pillars natively available in our platform is our key differentiator. Let us look at some of our success stories about how Nividous enabled holistic automation for leading businesses across different verticals.
The manual process of scrutinizing new proposals for underwriting is completely automated with the help of the Nividous platform.
The customer deployed Nividous Smart Bots to automate time-intensive and manual operations involved in the invoice processing and realized a 90% reduction in process turnaround time.
The demo video linked below showcases how templates for different types of invoices can be created within the Nividous platform for intelligent invoice processing.
Business models will continue to evolve as organizations rapidly accelerate the use of advanced automation technologies, but only those businesses are likely to gain a competitive edge who have built their automation goals keeping holistic approach at the core. If you want help with expediting your automation projects, we would love to connect with you and understand your goals. Get in touch with us at [email protected].
If you are interested to learn more about how to move beyond automation silos and embrace a holistic automation approach, watch on-demand webinar, featuring leading analyst Everest Group on “Moving Away from Automation Silos”.
With over 20 years of experience in building and implementing a BPM product at Savvion, one of the principle software providers in the BPM space, Shvetal, Co-founder of Nividous, brings tremendous knowledge to help clients navigate their digital transformation journey. Shvetal’s vision has helped Nividous get recognized as a high-profile thought leader in delivering digital transformation. Shvetal plays a leading role in driving innovative products and solutions at Nividous.
Shvetal Desai comes to Nividous from Progress Software where he was the Director Of Engineering for their Business Process Management Division. Prior to Progress Software, Shvetal served as Senior Director Of Engineering at Savvion Inc, where he contributed in the development of many products in the area of BPM software. Progress Software acquired Savvion Inc in January 2010. Shvetal joined Savvion in 1996 as one of the early developers for their highly successful Savvion Business Manager product, rated consistently for many years as one of the top three BPM products worldwide by leading analysts like Gartner and Forester. Prior to Savvion, Shvetal worked at Netscape Inc in their Enterprise Servers division.
He holds a Bachelor of Engineering degree in Electronics from Mumbai University, India and a Master of Science in Computer Engineering from Santa Clara University, California.
Kaushal is the co-founder of Nividous and has been an evangelist for Digital Transformation using BPM and related technologies for over 20 years. Kaushal is a consistent advocate of approaching business objectives with a holistic view of processes, platforms, and people to generate measurable business value which has enabled him to steer Nividous ahead as a leader in process automation space.
Kaushal comes to Nividous from Progress Software where he was the Vice President, South Asia and headed Field operations as well as Shared Services that included Global Professional Services and Customer Support out of India. Prior to Progress, Kaushal was with Savvion Inc, one of the principle software providers in the BPM space, where he was the Managing Director of Savvion India, a wholly owned subsidiary of Savvion and was responsible for sales, consulting and product operations. Kaushal joined Savvion in 1995 as one of the earliest employees and worked with high technology leaders including Fujitsu, IBM and Computer Associates for incorporating cutting edge technology into their products. In 1999, Mr. Mashruwala moved to India to set up business operations.
He holds a Bachelor of Engineering degree in Electronics and Communications from Gujarat University, India and a Master of Science in Computer Engineering from Santa Clara University, California.