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There's more to process-centric technology than cost-cutting

The right use of these tools can build revenue too, survey finds

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Vasileios Kospanos

Assistant Vice President, Genpact Digital - PNMSOFT Marketing Leader

March 20, 2018 - When CIOs consider the benefits of advanced process-centric technologies, they tend to focus on operational efficiencies and intelligent workflows, which support cost optimization. And they're right. By implementing tools such as intelligent business process management suites (iBPMS) and robotic process automation (RPA), companies realize benefits in these areas. They discover new digital ways to do things — and even find innovations for existing processes.

But many early adopters are recognizing additional benefits. In a recent Gartner report, 228 global technology decision-makers identified the following as the top four digital technologies likely to impact their business:

  • Advanced analytics
  • Process-centric technologies, including workflow iBPMS and RPA
  • Internet of things (IoT)
  • Machine learning

Notably, 84% said they expect to see benefits in process-centric technologies. As longtime proponents of these technologies, this comes as no surprise to us. We know that automating processes can improve back-office efficiency. But here's what's striking. According to the report, many respondents now also apply process-centric technologies to drive revenue growth.

In fact, 52% named increased revenue as a benefit they've realized from process-centric technologies. The reason: By automating processes, companies move more quickly — which means they edge out their competitors by getting to market faster. And the high speed of these technologies means firms can respond and adapt swiftly to market changes and disruption. What's more, by automating formerly manual processes, such as following up with a customer request, companies can deliver exceptional service, inspiring customer loyalty.

But it's not enough to rely on process-centric technologies. To really see a big impact, businesses should integrate and align every advanced tool they have. Gartner's analysts recommended this approach in their report—and we share their view.

Think of it this way — you can't build a house with just a hammer. You need an entire set of tools at your disposal to achieve the desired result. Process-centric technology is just one tool in your digital technology toolbox.

Here's one scenario as an example. Suppose you use an iBPMS to map out an automated workflow for processing a customer service request. Using advanced analytics, machine learning could gather data to automatically and intelligently determine ways to fine-tune the process. That way, your customers would have their requests fulfilled faster. And new technologies, such as natural language processing (NLP), would provide them a personable response that they appreciate.

In the end, you can operate faster than ever before, more readily pivot to change, deliver greater customer experiences, and boost your revenue. That's transformation.

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