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What are Intelligent Business Practices?

Posted by Rajith Haththotuwegama, on 16th Nov 2022, in Intelligent Automation

Digital transformation has been somewhat of a mantra in business circles for years. Awareness has grown of the benefits that can flow from the effective deployment of technology to streamline operations and reduce costs.

But what is the best approach to take? Which technologies and tools will have the greatest impact and drive the best possible efficiencies?

An important component of any business transformation project is Intelligent Business Practices. Powered by automation, they sit at the very heart of an organisation and support the critical processes that make it tick.

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Automation

Four Core Automation Practices

To understand Intelligent Business Practices, it’s worth reviewing the four essential elements that they comprise. Each involves process automation and relates to the business benefits that can be achieved. The four core automation practices are:

Turning data into insight
Robotic process automation (RPA)
Artificial Intelligence and Machine Learning
Backend integration and Platform-as-a-Service (PaaS)

Turning data into insight

Intelligent Business Practices can enable your organisation to capture data from multiple different sources and create a trusted, single source of truth. This data can then be processed to create actionable insights that will drive smarter and faster decision making.

A good example is a business that uses data to better understand their customer’s tastes, preferences, and purchasing patterns. Tailored experiences can then be created that increase loyalty and boost future transactions.

Robotic process automation (RPA)

These processes can streamline existing business processes and allow automation to reduce the need for human intervention. RPA has the potential to both significantly increase efficiencies and lower operational costs.

An example could be the creation of a ‘virtual’ assistant that can automatically pull data from a range of Excel spreadsheets at the end of the month and produce a management report. The result will be more detailed and timely reports and less pressure on staff.

Artificial Intelligence and Machine Learning

An important component of Intelligent Business Processes is the use of AI and ML tools. These tools can perform complex, automated actions much more quickly than traditional manual processes.

A good example is an organisation that has digitised important documents and is able to integrate extracted text elements into a workflow. These could include things such as supplier names and ABNs from invoices or the processing of contracts to automatically identify risky or missing clauses.

Backend integration and Platform-as-a-Service (PaaS)

This component involves the integration of on-premise systems with resources housed in cloud platforms to allow applications to more efficiently exchange data and support business workflows.

In this way, different platforms, business applications, and systems can be connected to share information with each other and better support teams as they carry out their daily tasks. Time to market for new products can be reduced and customer experiences can be improved as a result of achieving better insights.

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Together, these four automation strategies will underpin your successful Intelligent Business Practices and enable you to achieve the benefits being sought.

While it might all seem a bit daunting at first, it’s possible to begin small and then grow over time. Think about the core processes that are existing within your organisation and identify those that would be the easiest to automate and streamline.

Perhaps it’s the way in which supplier invoices are handled, or the methods used to track staff leave requests and entitlements. Process automation in these areas can be relatively easy to deploy with benefits quickly gained.

Once the ‘low hanging fruit’ processes have been automated, it’s then time to move onto the more complex ones where even greater efficiency improvements will be possible.

At Tecala, we guarantee measurable results in just three months when undertaking many process-automation projects for our clients.  

Talk to us today about what we can achieve for you.

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