{"id":92,"date":"2023-01-30T16:46:00","date_gmt":"2023-01-30T16:46:00","guid":{"rendered":"https:\/\/wp.graip.ai\/?p=92"},"modified":"2024-03-25T15:18:34","modified_gmt":"2024-03-25T15:18:34","slug":"automate-business-processes-using-intelligent-process-automation","status":"publish","type":"post","link":"https:\/\/graip.ai\/blog\/automate-business-processes-using-intelligent-process-automation","title":{"rendered":"Automate business processes using Intelligent Process Automation"},"content":{"rendered":"\n<p>Since the 2008 financial crisis, a lot of businesses have used lean management to increase cost-effectiveness, customer satisfaction, and staff engagement at the same time.<\/p>\n\n\n\n<p>Many programs have had a significant influence on all of these dimensions. Digital progress, however, has a lot of catching up to do.<\/p>\n\n\n\n<p>In the insurance industry, for example, a FIS study showed that 80% of insurance firms knew they needed digital skills to solve business problems, while 99.6% of insurers surveyed said that implementing digital innovation was hard for them.<\/p>\n\n\n\n<p>Intelligent process automation (IPA) can help with it. It will be a key part of the next generation of business operating models. Many companies in many different fields have tried IPA, and the results have been outstanding.<\/p>\n\n\n\n<p>The automation of 50\u201370% of tasks has led to annual cost savings of 20\u201335%, a 50\u201360% reduction in straight-through process time, and returns on investments that are often in the triple digits.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2>Content<\/h2><ul><li><a href=\"#h-what-is-an-intelligent-automated-process\" data-level=\"2\">What is an intelligent automated process?<\/a><\/li><li><a href=\"#h-intelligent-invoice-processing\" data-level=\"2\">Intelligent Invoice Processing<\/a><\/li><li><a href=\"#h-closing-thoughts\" data-level=\"2\">Closing Thoughts<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-an-intelligent-automated-process\">What is an intelligent automated process?<\/h2>\n\n\n\n<p>IPA &#8220;takes the robot out of the human,&#8221; in essence. IPA is a growing group of cutting-edge technologies that combine rethinking basic processes, automating them with robots, and teaching machines how to do things better.<\/p>\n\n\n\n<p>This set of business process improvements and next-generation tools helps the knowledge worker by getting rid of repetitive, re-doable, and routine tasks. Additionally, it may dramatically enhance customer journeys by streamlining interactions and accelerating procedures.<\/p>\n\n\n\n<p>As time goes on, IPA learns how people move and gets better and better at copying them. Deep learning and cognitive technologies have made it possible for traditional rule-based automation tools to now be able to make decisions.<\/p>\n\n\n\n<p>IPA helps<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>improve efficiency by a lot.<\/li>\n\n\n\n<li>raises worker performance,<\/li>\n\n\n\n<li>lowers operational risks,<\/li>\n\n\n\n<li>speeds up response times, and<\/li>\n\n\n\n<li>improves the customer journey.<\/li>\n<\/ul>\n\n\n\n<p>As macroeconomic conditions continue to put pressure on profit margins in all sectors, cost productivity and creating new value are back at the top of senior management&#8217;s list of priorities. What else is possible? That&#8217;s the question.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-intelligent-invoice-processing\">Intelligent Invoice Processing<\/h2>\n\n\n\n<p>One of the fundamental processes you can automate today is&nbsp;<strong>invoice processing.<\/strong><\/p>\n\n\n\n<p>With Graip.AI&#8217;s digital invoice processing, you can keep track of invoices that come in and make sure they are mapped correctly in your system.<\/p>\n\n\n\n<p>Using text recognition software like <a href=\"https:\/\/graip.ai\/\">Graip.AI<\/a>, which uses smart algorithms to look at all the details, like the project code and invoice number, invoices can be checked and recorded.<\/p>\n\n\n\n<p>This means that everything is stored right away, is safe, and can be accessed from any device. It will also be sent to the right team for approval.<\/p>\n\n\n\n<p>You may easily integrate Graip.AI\u2019s invoice processing into current enterprise resource planning (ERP) systems.<\/p>\n\n\n\n<p>The key is to make sure that invoice information is correct, cut down on administrative time, avoid mistakes, and keep costs as low as possible.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-closing-thoughts\">Closing Thoughts<\/h2>\n\n\n\n<p>Businesses are using IPA to invest in and build new platforms, connect with customers, and win over advisors at a much lower cost. However, folks are only beginning to explore the possibilities.<\/p>\n\n\n\n<p>The companies that adopt these capabilities as part of a next-generation operating model and move quickly to take advantage of their value will be the ones that succeed in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since the 2008 financial crisis, a lot of businesses have used lean management to increase cost-effectiveness, customer satisfaction, and staff engagement at the same time. Many programs have had a significant influence on all of these dimensions. Digital progress, however, has a lot of catching up to do. In the insurance industry, for example, a [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3,8],"tags":[],"class_list":["post-92","post","type-post","status-publish","format-standard","hentry","category-ai","category-automation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.0.1 (Yoast SEO v19.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Automate business processes using Intelligent Process Automation| Graip.AI<\/title>\n<meta name=\"description\" content=\"One of the fundamental processes you can automate today is invoice processing. 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You may easily integrate Graip\u2019s invoice processing into current enterprise resource planning (ERP) systems.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/graip.ai\/blog\/automate-business-processes-using-intelligent-process-automation\" \/>\n<meta property=\"og:site_name\" content=\"Graip.AI Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-30T16:46:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-25T15:18:34+00:00\" \/>\n<meta name=\"author\" content=\"Sergey Jermakov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sergey Jermakov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/graip.ai\/blog#website\",\"url\":\"https:\/\/graip.ai\/blog\",\"name\":\"Graip.AI Blog\",\"description\":\"ML and Data Science articles\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/graip.ai\/blog?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/graip.ai\/blog\/automate-business-processes-using-intelligent-process-automation\",\"url\":\"https:\/\/graip.ai\/blog\/automate-business-processes-using-intelligent-process-automation\",\"name\":\"Automate business processes using Intelligent Process Automation| Graip.AI\",\"isPartOf\":{\"@id\":\"https:\/\/graip.ai\/blog#website\"},\"datePublished\":\"2023-01-30T16:46:00+00:00\",\"dateModified\":\"2024-03-25T15:18:34+00:00\",\"author\":{\"@id\":\"https:\/\/graip.ai\/blog#\/schema\/person\/46cc92b4a8a3487c32c41e8dcb280c7d\"},\"description\":\"One of the fundamental processes you can automate today is invoice processing. 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