What Is Intelligent Automation?

Intelligent automation (IA) is revolutionizing the way businesses operate by streamlining complex tasks and optimizing workflows. IA enables companies to enhance efficiency, reduce costs, and stay competitive in an ever-evolving market. These are just some of the reasons why 99% of organizations had either already invested in intelligent automation in 2022 or were planning to invest in it in 2023.

But what exactly is intelligent automation? How does it work? What other benefits does it offer organizations? And how do you implement it? These are all commonly asked questions this blog post answers.

What Is Intelligent Automation?

IA is the “next level” of business process automation (BPA). It integrates advanced technologies, such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP), to provide solutions to your challenges.

Initially, BPA focused on simple, repetitive tasks that could be performed by basic software programs. With technologies that can learn, adapt, and respond to new situations, intelligent automation powers smarter, more adaptable systems than traditional BPA.

A popular IA solution type is intelligent document processing (IDP), which leverages document scanning services, capture software, content management systems, workflow automation technology, and artificial intelligence to automatically extract, interpret, and manage data from various document types. This synergy not only enhances operational efficiency but also ensures accuracy and scalability in data handling, making it a vital tool for modern businesses aiming to stay competitive in a data-driven world.

How Intelligent Automation Works

Now, the question is: How do these powerful solutions work? Let’s dive into the key components that illustrate how IA functions:

1. Workflow automation: By leveraging workflow automation, IA solutions easily and quickly complete routine tasks like data entry, so employees don’t have to.
2. Artificial intelligence: The incorporation of AI enables machines to mimic human intelligence, allowing them to help you recognize patterns, predict outcomes, and, ultimately, make better decisions.
3. Machine learning & NLP: A subset of AI, machine learning improves processes over time with training of algorithms based on data entry. Natural language processing, another subset of AI, allows intelligent automation systems to understand and respond to human language.
4. Cognitive automation: This technology further enhances intelligent automation by leveraging AI technologies to handle tasks that require human-like cognitive functions. Applications of cognitive automation range from automated customer service to sophisticated data analysis and risk management.
5. Process mining: Analyzing business processes through data mining techniques enables you to uncover inefficiencies and areas for improvement. By understanding the real workflow patterns and bottlenecks, your company can implement more effective automation solutions.

Strategic Benefits of Intelligent Automation

Seventy-five percent of organizations say workflow automation alone provides them with a competitive advantage. With the addition of other advanced technologies like artificial intelligence, intelligent automation solutions deliver many more benefits that maximize organizations’ competitive advantage:

#1 Enhanced Decision-Making

By analyzing vast amounts of data, IA can help you make better decisions faster. It can:

• Identify inefficiencies: Detect and address areas where processes can be improved.
• Predict trends: Forecast future trends based on data analysis.
• Suggest improvements: Provide actionable insights to optimize operations.

#2 Catalyzing Innovation & Growth

IA supports rapid innovation through the development of new business models. It achieves this by reducing the need for human expertise and providing insights from data analysis. With IA, your company can quickly bring new products and services to market, staying ahead of the competition. This allows you to experiment, adapt, and scale your business sustainably.

#3 Increasing Operational Efficiency

Operational agility improves when you automate standard, often-performed tasks. Implementing IA allows your business to respond swiftly to changes and challenges in the marketplace, freeing up your employees to focus on higher-value activities. It enhances overall productivity and efficiency by reducing manual work and streamlining processes.

#4 Enhancing Risk Management & Compliance

IA deploys predictive analytics to anticipate potential issues and automated control systems to better meet requirements. This proactive approach ensures compliance and, in turn, helps mitigate business risks, avoid regulatory penalties, and maintain a strong reputation.

#5 Reducing Costs

You can lower your business costs by scaling processes and eliminating redundant activities that typically require costly manual labor. IA optimizes resource allocation to ensure your business operates efficiently while investing in other strategic areas for growth and development. According to Deloitte, businesses that have gone beyond piloting intelligent automation have reduced costs by 32% on average.

Effective Implementation Strategies for Intelligent Automation

Implementing IA successfully takes careful planning and alignment with your organizational goals. Here are some best practices for you to successfully integrate IA technologies within your existing frameworks:

• Define clear objectives: Establish what you want to achieve with IA and align these goals with your overall business strategy to ensure that the implementation supports your long-term vision. This helps prioritize processes that will benefit most from automation.
• Identify areas for implementation: Determine which business processes can benefit most from intelligent automation. For example, in invoice processing, IA can automate the extraction of data from invoices, validate the information, and enter it into your financial system. This reduces manual data entry errors, speeds up processing times, and ensures consistency.
• Start with simple tasks: Begin by automating simple tasks before moving on to more complex processes. This phased approach allows gradual adaptation and helps identify potential challenges early on. Use pilot programs to test IA solutions and refine them based on feedback and performance metrics.
• Ensure scalability: Choose IA technologies that can grow with your business. Implement flexible solutions that accommodate future expansions and advancements, saving time and resources in the long run.
• Collaborate with existing solutions: Integrate IA with existing systems, such as intelligent document processing solutions, to streamline data-centric processes and improve overall efficiency. This synergy ensures all technologies work together to optimize business operations.
• Invest in training and support: Educate employees on using intelligent automation tools effectively and provide ongoing support to address any issues. This maximizes the benefits of IA and ensures a smooth transition.

By following these strategies, your business can successfully implement intelligent automation, leading to improved efficiency, cost savings, and competitive advantage.

Elevate Your Business Strategy with Advanced Automation Technologies

To learn more about how intelligent automation can transform your business, download our comprehensive intelligent document processing guide. This resource offers a deeper dive into the benefits of—and implementation strategies for—intelligent document processing and automation.

For a personalized approach, take advantage of this opportunity for a consultation with MetaSource experts. We can partner with you to tailor solutions to your organizational needs, ensuring you get the most out of your automation initiatives.

MetaSource is proficient in delivering comprehensive IA solutions that go beyond traditional automation. Let us help you elevate your business strategy with advanced automation technologies that drive efficiency, innovation, and growth.