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What are the Top Benefits of Workflow Automation and How to Harness Them

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Businesses everywhere are looking for efficient solutions to their problems. When the problem takes the form of tedious business processes, the solution comes up as workflow automation

Workflow refers to the series of activities lined up to successfully complete a task. Workflow automation enables businesses to identify tasks that could be effectively carried out by a machine and assigns a predetermined set of rules to perform the function. It consequently removes manual involvement from the equation. Automating the workflow would optimize business processes by efficiently replacing humans with automation software that accomplishes all or part of a task.

Workflow automation is usually employed in business processes when tasks involved are repetitive and redundant and usually do not require skill-intensive involvement. Automating workflow provides a boost in time efficiency and significantly decreases the probability of human error. Using workflow automation, businesses can achieve optimum performance with lesser effort.

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Low-Code Automation vs. iBPM: Which Should You Use For Your Business?

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Business process management is defined as a set of organizational activities and processes which are undergone with the ultimate goal of tracking, analyzing, optimizing, automating and improving the overall functioning of various day-to-day business processes.

Business process management can be an extremely tedious, time-consuming and impractical process if not monitored by a digital solution. However, as the number of digital platforms and mobile solutions available to businesses increases exponentially, many businesses are unsure about what type of solution they should use to optimize their business processes: low-code automation and development platforms or iBPM playtforms.

Low-code automation solutions allow users to automate various business processes using a drag-and-drop app builder, a visual workflow builder and a scripting engine. This allows citizen developers and business technologists with little to no traditional coding knowledge to effectively and efficiently automate complex business processes. At the same time, it allows developers with coding experience to create process workflows and build apps in a fraction of the time it would take with traditional coding.

Intelligent Business Process Management (iBPM), on the other hand, involves the integration of artificial intelligence, machine learning and robotic process automation to automate various business processes using data analysis. iBPM solutions usually incorporate visual interfaces and a responsive software design.

But first, what are the benefits of automating your business processes?

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How To Set Up Strong Business Processes

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A business process is the basic building block of a business function. It is a set of tasks that a group of individual stakeholders must perform to reach a specific goal. The main advantage of having business processes is the optimization of resources.

A business process gives direction to simple tasks and helps individuals streamline their activities. It ensures that the tasks are being performed in the most efficient way possible.

Business processes help stakeholders focus on long-term business goals along with short-term business goals. Business processes also improve communication between departments and help establish clarity regarding the objective of the tasks.

Business process management is hence an integral part of modern businesses. It focuses on the overall improvement of all end-to-end business processes in an organization.

Setting up strong business processes is essential. A strong business process framework ensures that all the resources in the organization are used to their full potential and in the best way possible. It also helps in unifying teams and increasing the efficiency of cross-functional teams.

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How Standardization And Automation Can Drive Your Company’s Success?

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As digital technology and modern organizational structures continue to evolve and progress at an exponential rate, many businesses must begin to look towards standardization and business process automation to facilitate and foster company success.

Business Process Automation is defined as the utilization of technology to automate various time-consuming and complex business processes. Studies have shown that 97% of IT decision-makers believe that business process automation is crucial for digital transformation.

Standardization involves developing and implementing standards for business processes as well as ensuring that all organizational functions are held to the same standards.

Therefore, your business must understand the various benefits of business process automation and standardization so that you can leverage them to drive organizational growth and long-term success.

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How To Use Low-Code To Automate Your Business Processes

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A business process is defined as a set of activities and procedures undertaken by an organization to achieve short-term and long-term goals and objectives. The structure and efficiency of your organization’s business process can significantly impact the productivity and profitability in the long run.

Well-managed business processes can help your business establish a benchmark for quality standards, reduce potential risk, avoid damaging human error, improve opportunities for cross-departmental collaboration and implement effective communication. Research has shown that effective business process management can improve customer satisfaction levels by up to 30%.

However, many business processes can be time-consuming, repetitive and tedious which can lead to employee dissatisfaction and disengagement. It may be difficult to effectively and accurately monitor and keep track of manual business processes. Therefore, many businesses are beginning to leverage the power of low-code solutions to automate various manual business processes.

Low-code automation is a visual approach to automating business processes that requires little to no coding and instead focuses on graphic on-screen guidance and drag-and-drop tools. Studies have shown that 49% of organizations that use low-code solutions have stated that they have the greatest ability to automate business processes.

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How To Use Low-Code To Eliminate Manual Processes In The Banking Sector

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With evolution in digital technology and mobile solutions, it is crucial to modernize various processes in the banking sector. Although many processes may require human interference and supervision, many manual processes in the banking sector may be repetitive,  time-consuming and can hence be automated. Automation can help streamline various tedious processes that would have otherwise had to have been performed manually by an organizational employee.

Performing certain tasks manually may increase the risk of human error. Although human error is almost unavoidable in certain situations, the potential risk associated with handling large sums of money, maintaining customer databases and monitoring client relationships should be avoided at all costs.

Therefore, it is greatly beneficial for banking institutions to eliminate certain manual processes that may result in these errors. Recent studies have shown that 66% of employees view automation as being instrumental in reducing data errors.

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Top 10 benefits of business process automation

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Companies all over the world continually try to achieve efficiency. All the processes in a company contribute towards one goal – an optimal business design that best solves all the organizational problems while yielding the highest results. One of the most efficient tools to achieve that level of optimization is business process automation.

Automation has become an integral part of every business. According to McKinsey, approximately 31% of businesses have fully automated at least one business function. Therefore, with the growing integration of automation into various business processes, modern organizations must understand the advantages of business process automation.

Business process automation is defined as the incorporation of certain types of digital software and tools that can automate certain time-consuming and repetitive organizational tasks that would have otherwise required human intervention.

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What is intelligent business process automation?

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With constant evolutions in automation and digital technology, many modern businesses are now concentrating on various strategies to facilitate digital transformation. These technological advancements include the implementation and integration of automation in the workplace. Studies have shown that over 80% of business leaders reported that they are currently speeding up work processes automation.

Automation has numerous benefits that organizations can take advantage of including significantly speeding up business processes and functions. With, increasing organizational scalability, reducing costs associated with performing certain tasks manually, empowering organizational employees to work on higher-level, more intellectually stimulating tasks, and much more.

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How to use intelligent automation to improve your business processes

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Automation today has seeped into almost all the relevant aspects of the business world. From robots to automated deliveries, every organization is trying to read the benefits of automation in some way. The number of automated jobs increases by 14% every year. A survey conducted in 2017 proved that 86% of the employees believed that automation services will help them do their jobs more efficiently.

Intelligent automation is the method of automating your key business processes to increase the overall efficiency of a workplace. It is also known as cognitive automation and combines three tools- robotic process automation (RPA), business processes management (BPM), and artificial intelligence (AI).

Intelligent automation is a much sought-after technology as it delivers concrete benefits to companies. It not only simplifies processes for the human component of the workforce but can also eliminate operational inefficiencies.

Intelligent process automation is extremely relevant to business as it has diverse applications. Intelligent automation can be used by financial institutions, government bodies, manufacturing units, hospitals, schools, universities, and the list goes on. It adds improved support for collaboration in analytics, decision-management, social media integration, etc.

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Why Is Low-Code Development At The Heart Of The Strategic Use?

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Low-code is defined as a visual approach to application development that equips citizen developers with little to no traditional coding experience with visual editors, drag-and-drop tools, on-screen visual guidance, and automation.

As digital technology continues to evolve exponentially; the utilization and implementation of low-code solutions to facilitate digital innovation is increasing rapidly. Low-code development is also increasingly at the center of strategic usage development cycles for modern organizations.

Strategy can facilitate decision-making as well as create an overall vision for long-term organizational objectives in a wide variety of business functions such as marketing, product development, human resource management, and much more. According to Forbes, 83% of organizations stated that low-code (AI) development is a strategic opportunity for their businesses.

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