Automation is a hot topic in financial services today, having proven itself as an operational efficiency driver—freeing up human resources to take on more strategic roles. Because financial services is such a highly regulated industry, automation can be transformational in addressing significant demands for auditability, security, data quality and operational resilience.
READ MAKING PROCESSES SMARTER [PDF]Making processess smarter
Learn how financial services can use Intelligent Automation to help their processes become more streamlined, cost‑efficient and productive.
INTELLIGENT AUTOMATION: THE NEXT STEP IN THE BUSINESS PROCESS TRANSFORMATION JOURNEY
THE “WHAT” AND “WHY” OF IA
As technology becomes more sophisticated, automated processes—when implemented correctly—show great promise for delivering new business solutions and generating even greater benefits to financial firms. In the simplest terms, IA is the automation of a repeatable process, but through an intelligent system. It’s the logical next step in transforming manual, time‑consuming and cost‑heavy activities to become more streamlined, cost‑efficient and productive.
THE IA TECHNOLOGY LANDSCAPE
Before deciding how to make your firm’s automated processes more intelligent, it’s important you have a basic understanding of the IA technology landscape—which is best viewed on a spectrum ranging from less sophisticated to more advanced.
Intelligent Process Automation Technologies
Spectrum of intelligence
Robotic Process Automation
Automating scripts to execute machine-to-machine tasks
Streamlining end-to-end processes such as data entry
Natural Language Generation
Automating the translation of data to language
Scaling content creation and report replication
Advanced Natural Language Generation
Automating the analytical and reporting capabilities of a top-tier analyst
Augmenting human knowledge and skills with intelligent narratives
HOW TO START YOUR IA JOURNEY TO BUSINESS PROCESS TRANSFORMATION
Here are three suggestions for incorporating IA as a valuable part of your operations:
- Start with a small business use case to establish a quick win, then build on that success.
- Make sure to assemble the right team, composed of both business subject matter specialists and technologists.
- Begin the design process with the end state in mind by creating a reverse timeline. Make the starting point achieving the desired business value, then work your way backward to implementation.
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Todd Pingaro
Managing Director, Accenture Financial Services Technology Advisory
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