Straight Through Processing commonly referred to as STP is automated, electronic processing without human intervention. Modern-day applications and systems are quite adept with STP. The issue revolves around legacy systems, which you cannot sunset because of obvious business reasons. Intelligent Automation, also sometimes acknowledged as Artificial Intelligence (AI) / Machine Learning (ML) enabled Robotic Process Automation (RPA), allows businesses to enable STP even in legacy systems and IT architecture.
Intelligent Automation leverages holistic strategy and vision while dealing with legacy systems
Intelligent Document Processing (IDP), RPA, and AI/ML amalgam is the secret sauce used in all Intelligent Automation projects. Intelligent Automation allows businesses to think holistically around the legacy architecture and connect the siloed points where human intervention would have been otherwise mandated thus offering end-to-end automation.
Intelligent Automation takes a business process management approach around legacy through a combination of process and data refinement. The ensured digital transformation over a predefined vision or blueprint not only improves the STP but also improves productivity. It brings the legacy architecture on a level playing field with the modern business applications.
How do the individual technologies aid Intelligent Automation?
Intelligent Automation leverages IDP, RPA, and AI/ML in its basic form. More advanced versions use workflows, advanced analytics, and high-end algorithms to suit the complexity of the use case and business requirement.
- IDP: It is also sometimes referred to as Intelligent OCR or Intelligent Document Processing. It is AI / ML-enabled OCR such that it captures information from unstructured data formats and converts it to a structured format before it integrates the information in the core business systems. It is template-free and works accurately even without a template thus reducing the processing cost of generating a template for each new form of data that comes in the business purview.
- RPA: A non-invasive technology that allows rapid configuration of bots to automate rule-based repetitive processes, RPA bots can be easily implemented and managed. Specially used to automate high volume transactions, RPA bots are used in multi-way updation between a number of systems thereby alleviating routine swivel chair operations. It automates and simplifies decision-making tasks with pre-configured rules-based engines.
- AI / ML: These algorithms offer the intelligence layer in Intelligent Automation and augments human decision-making in processes with medium to high complexity. This AI / ML layer offers high scalability and agility thereby taking the RPA automation to an entirely new level. Application Programming Interfaces (APIs) offer robust integration mechanisms between systems; however, they are expensive and complex compared to Intelligent Automation solutions. On the contrary, Intelligent Automation offers cost-efficient and comprehensive solutions and seamlessly supports up to the last mile integration.
In short, Intelligent Automation offers more than the sum of its parts or the individual technologies involved in the automation environment.
Benefits of leveraging Intelligent Automation around legacy platforms
- Offers seamless integration between legacy platforms and modern business applications
- Enables business to look beyond point solutions, enables end-to-end automation, and improves straight-through processing
- Enables process optimization around the entire IT estate involving legacy systems and modern applications
- Improves employee experience through the process augmentation between the old and new
- Improves agility and productivity and hence the customer experience
- Eliminates anomalies and frauds in the business environment through the augmented intelligence
- Improves RoI and sustainability for the business
- Offers high scalability across the enterprise and the business ecosystem through an Intelligent Automation CoE enabled approach
- Synergizes efforts around people, processes, and technology
Simply put
Intelligent Automation allows businesses to reap the benefits of STP even around legacy platforms. The individual technologies involved allow businesses to move beyond point solutions and envisage end-to-end automation thereby improving agility, productivity, and customer experience.
Intelligent automation (IA) joins mechanical interaction mechanization (RPA) with trend-setting innovations like man-made consciousness (AI), investigation, optical person acknowledgment (OCR), canny person acknowledgment (ICR), and cycle mining to make start to finish business processes that think, learn and adjust all alone.
Clever robotization is here and there alluded to as savvy process mechanization (IPA) and hyper-computerization.
Intelligent Automation upholds the plan and formation of the start to finish processes that make adaptable, strong, current business working models conceivable.
Enlarging human involvement in IA can release another flood of development and move individuals to intensely make new business esteem by saving representative time from liabilities that can be dealt with by machines.
Viable IA requires a coordinated effort among IT and business capacities to survey the viability of existing cycles, then, at that point, incorporate frameworks to drive reasonable and adaptable change into the interaction system.
For an IA drive to succeed, representatives should be engaged with the changing venture so they can encounter firsthand the advantages of a better approach for working and making business esteem.
Do you have an overwhelming, stressful, inefficient database that is inefficient and rife with errors?
Check out some of the new intelligent data automation software that present solutions and even software-as-a-services that automate member claim form data input straight into your data system.Quicker and accurately processed documents improve business profitability and revenue.
When it comes to healthcare documents, the claim adjudication process is the process of how much cost responsibility is due to the payer (insurance company).
When the payer gets claims, the cost will either be denied, paid in full, or a third option.
The price can be negotiated down based on how good of a plan or insurance company the member has.By automating the adjudication and claims process via intelligent automation, all parties (members, providers and payers) will get their information back faster and much more accurately.
And when a member has their claim processed faster, the provider (like a hospital, doctor's office or clinic) will be paid faster, and the insurance company (payer) will decrease their remaining claims that are not paid yet.
