Redeploy the human workforce to higher value add activities
In the ‘new normal’ situation, with economic pressures being exerted, businesses seek to drive out costs and maintain customer engagement with uncompromised quality, while also supporting a larger-than-planned remote workforce. In addition to this, the current situation puts greater focus on the continuous improvement of workforce productivity, customer satisfaction, and improving the brand experiences. On an average, organizations can expect to achieve a 20% - 25% increase in workforce capacity and productivity to support back-office and mid-office business operations, enabled through the possibilities of intelligent process automation augmenting the human workforce.
In order to enable this increase in capacity, manual, repetitive, and time-consuming tasks must be taken off employees. Instead, the human workforce must be redeployed to higher value add activities, thereby removing the ‘Robot’ from employees.
Removing the 'Robot' from employees to improve productivity
In a post COVID-19 scenario, there is a high possibility that once businesses resume their normal operation, they may not be able to perform at the same pace due to labor shortage and pressure to reduce costs. In this scenario, a new type of Digital workforce will continue to emerge as one of the key elements of delivering efficient operations. With the availability of latest technologies and tools, digital workforce enables an accurate, efficient and low-cost operations with complete data security at transmission and at rest. Digital workforce combines process re-design, automation combined with Machine Learning to automate more than 40% of the tasks otherwise handled by a human workforce to deliver cost savings, speed, accuracy and an improved customer experience.
Mindtree proposes to remove the robot from every employee by automating repetitive tasks and applying intelligent process automation to drive improved productivity through effort savings up to 80% and cost savings up to 55%.
While we have been able to generate productivity improvements up to 80% in cases, it’s important to set a minimum automation baseline productivity expectation of 25% - 35% to ensure that the right processes are chosen for automation. To enable this, we believe a swift assessment in a non-invasive manner through auto-discovery tools will help in expediting the process of identifying the automation candidates, followed by a virtual workshop where auto-recording of processes can help in aiding the Bot automation processes.
With our vast experience working with various industry groups and a diverse set of clients, we have pre-built models for accelerated process re-engineering that helps us focus on the automation that delivers the maximum Return on Investment for the business. The low-hanging fruits of automation known to deliver massive effort and cost savings are more often than not found in back and middle offices. The back-office functions supporting finance, human resources, administration, and the middle office functions covering industry-specific core processes such as policy administration in insurance, records management in healthcare, contract management in technology, order management and reporting in CPG are the most amenable for the introduction of a digital workforce.
In addition to this, automation of back-office and middle-office processes can be accelerated through reusable pre-built Bots that we bring to the table to accelerate Bot deployment.
We also propose flexible commercial constructs that include traditional, innovative bot-pricing models, and outcome-based gain/ share-based models, through which clients can realize maximum savings and outcomes with minimal investments. These flexible cost structures help organizations generate immediate cost savings and help navigate the current situation very effectively.
Our experience
Using intelligent process automation, we have been able to, on an average, save efforts up to 80% and optimize cost savings up to 55% for our clients. A few instances are given below:
- Re-engineered and automated more than 60% of insurance processes, including client onboarding, policy administration and claims, by creating 37 Bots for a leading home insurance provider in the US, resulting in 80% cost savings and 90% cumulative effort savings from the automated processes.
- Removed the robot from the daily duties of employees for one of the largest real estate and relocations provider in the US, who were spending more time performing repetitive tasks, such as compiling data, instead of analyzing it, which resulted in 21% increase in client satisfaction, and 22% decrease in AP cycle time and US $1M in savings.
- Intelligent automated order creation for one of the largest independent electrical and industrial distributors in the US, resulting in 80% reduction in efforts and 70% increase in customer satisfaction. This was achieved using a multi-cloud next-gen intelligent automation solution encompassing semantic knowledge representation implemented on AWS Graph database and Azure cognitive services.
Conclusion
Intelligent automation helps mitigate disruption by enabling businesses to stay connected across teams and systems, maintain customer support and offer stability in times of uncertainty. We strongly believe that automation is a means and not an end; the cost savings generated from intelligent automation will provide the cash needed to fuel investment in digital initiatives. At Mindtree, we have developed the capacity and competencies in intelligent automation enablement to help our customers successfully traverse this systemic disruption and embark on future growth with flexible IT operating models and cost structures.
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