Four Ways To Shift Automation From Tactical To Transformative

Intelligent Automation: From Tactical to the Transformative..Cognizant

Organizations must transcend piecemeal approaches to business reinvention and design processes around people — customers, employees, partners, suppliers — tightly linked from the front to the back office, advises Girish Pai, who leads Cognizant’s Intelligent Process Automation practice.

“Going digital” has long been touted as a silver bullet for delivering better customer experiences and streamlining processes. Automation has become the go-to approach for solving immediate pain points, mainly in the form of tactically deploying one-off robotic process automation (RPA) initiatives to make our jobs a little easier and/or more efficient.

While achieving short-term gains, this piecemeal approach to process reinvention creates complexity due to disconnected strategies, siloed pilot projects and an incohesive technology strategy, among other factors. More importantly, it complicates businesses’ ability to adapt and inject fluidity into operations — characteristics crucial for delivering the future of work right now.

Old ways of thinking about automation just won’t cut it anymore, and the decentralized business world emerging from the pandemic has increased the pressure to deliver. However, we’re finding that businesses are overwhelmingly ill-prepared for this journey. According to our research, 60% of companies have implemented or piloted automation technology, but only a tiny minority (8%) have said they’ve achieved automation at scale.

To unlock new value, opportunities and growth, organizations need to focus on the “why” of automation to achieve business results. They need to design processes around people — customers, employees, partners, suppliers — fused together from the front-office to the back-office, across all functions. Here’s how.

Anchor end-to-end process redesign to business outcomes and ensure scalability.

Organizations typically approach automation by looking for opportunities to increase speed or take complex manual tasks off their hands. It seems logical — but if they’re automating processes that just don’t work, they’re merely automating inefficiency. As customer journeys become more complex and competitors accelerate innovation, it becomes even more important to exert strategic oversight into automation initiatives.

End-to-end process change doesn’t work when organizations focus arbitrarily on finding opportunities for automation. They should first determine their overall business goals, identify inefficiencies in existing processes and then create automated systems that can scale.

To succeed, they need to weave together people, processes, experiences, data insights, intelligence and technology via an automation fabric that masks complexity from users, simplifies orchestration, brings together disparate emerging technologies such as machine learning, natural language processing and intelligent document processing, and drives adoption and collaboration.

We recently worked with a healthcare provider to reduce its claims denial rate and improve net collections. We used process mining tools to identify bottlenecks and process issues, then ran possible intervention simulations to build a business case for business change. This allowed us to create a strategic blueprint for implementing process changes, automation, monitoring and people enablement.

Using RPA, optical character recognition (OCR) and artificial intelligence/machine learning (AI/ML) technologies, we were able to reduce the claims denial rate from 17% to 12% and improve net collections from 23% to 30%. Because automation was deployed strategically instead of tactically, the processes behind the technology are efficient and will remain stable through growth periods.

Take a people-first approach.

As businesses adjust to a digital culture, they need to prioritize the human beings working alongside software and bots (i.e., digital workers). A one-size-fits-all approach to education and upskilling doesn’t work with a multigenerational and distributed workforce. Creating a people-first automation plan requires accommodations for skill level, comfort with technology and the state of innovation.

We worked with a claims processing organization to help it navigate this type of culture change. By analyzing the day-to-day challenges and dependencies of users, we created a customized training program that showcases how technology can reduce effort and improve decision-making. We prioritized initiatives based on ease of implementation and scaled them as technology understanding improved.

By prioritizing the needs of the workforce as new technology is deployed, the business will not only enhance time-to-adoption but also create a better customer experience through skilled employees, more efficient claims handling, greater cost savings from reduced penalties and more resilient operations.

Use modern technology to create modern experiences.

Digital is enabling companies to break traditional industry boundaries, introducing supportive and complementary offerings that create seamless purchasing environments for customers. But in doing so, they’re no longer just delivering products — they’re delivering experiences.

This means that back-office metric optimization can no longer be disassociated from front-office customer interaction and overall process change. The customer experience must be at the core of how processes are managed.

One leading medical device company struggled to educate customers on the features of its new devices. Because users’ health was involved, the company needed access to accurate information as quickly as possible. After reviewing patient, caregiver, payer and supplier personas and journeys, we helped create a blueprint for simplifying the interaction across ecosystem touchpoints.

We introduced chatbots, remote monitoring and AI-based patient safety services. By centering decisions around customer needs and expectations, the company was able to create a seamless user experience that reduces friction.

Guide widespread digitization with high-level strategy.

Automation is becoming more pervasive in enterprises. Low-code automation tools are rapidly entering the market, making it easier than ever to create digitally connected ways of working.

The key is to empower those closest to the process challenges with design and execution guide rails to holistically integrate and optimize disparate technologies as they learn, build and scale experiences and process transformation rapidly.

While the growing accessibility of automation offers a panoply of process optimization opportunities, the ease of use of low-code automation should not override the need for high-level strategic planning. To truly power customer-driven business decisions, organizations need data — and lots of it.

If departments within your organization are approaching automation independently, data can quickly become trapped in siloes — making it impossible to efficiently gather the insights required to eliminate friction points.

Never lose sight of the “why” in automation

As process digitization evolves, it will become even more important to understand the “why” — not just the “what” — behind automation initiatives. Efficient process digitization requires a balancing act between effective technology adoption and enterprise-wide oversight.

By taking a fused, end-to-end automation approach, businesses can cut across siloes and enable data to flow freely between departments, creating an opportunity to thrive through better decision-making, reduced costs and greater business innovation.

To learn more visit the Intelligent Process Automation section of our website or contact us.

Girish Pai is a seasoned digital and transformation leader with over two decades

Source: Four Ways To Shift Automation From Tactical To Transformative

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The Internet Marketing   https://jvz2.com/c/202927/289944
Tonai Voice Content   https://jvz8.com/c/202927/383119/
Toon Video Maker    https://jvz2.com/c/202927/357201
TrafficForU   https://jvz3.com/c/202927/381950/
Trendio  https://jvz3.com/c/202927/381003/
TubePal   https://jvz6.com/c/202927/379863/
Tubeserp   https://jvz3.com/c/202927/370472
TubeTargeter  https://jvz6.com/c/202927/377211
TuneMingo    https://jvz3.com/c/202927/386556/
TV Boss Fire  https://jvz6.com/c/202927/379480/
Ultrafunnels A.I   https://jvz2.com/c/202927/381129/
VIADZ Ad Template  https://jvz4.com/c/202927/379307/
Vidcentric   https://jvz4.com/c/202927/376095
Viddeyo    https://jvz6.com/c/202927/382326/
ViddleInteract   https://jvz8.com/c/202927/388716/
Videevolve   https://jvz4.com/c/202927/381011/
Vidently   https://jvz1.com/c/202927/387798/
Video Campaignor      https://jvz4.com/c/202927/387058/
Video Games   https://jvz3.com/c/202927/184902/
VideoEnginePro     https://jvz2.com/c/202927/372916
VideoGameSuite    https://jvz3.com/c/202927/366537/
VideoRobot Enterprise   https://jvz8.com/c/202927/291061
VidKreate   https://jvz6.com/c/202927/386029/
VidMingo   https://jvz6.com/c/202927/378359/
VidRaffle   https://jvz2.com/c/202927/386840/
VidSnatcher    https://jvz3.com/c/202927/342585
VidVoicer    https://jvz1.com/c/202927/379983/
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Viral Quotes      https://jvz2.com/c/202927/386984/
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Vocalic  https://jvz2.com/c/202927/383848/
VoiceBuddy    https://jvz1.com/c/202927/342854
Voiclet   https://jvz4.com/c/202927/388755/
VR Studio  https://jvz8.com/c/202927/388296/
WebCop  https://jvz4.com/c/202927/378683/
Webinarkit   https://jvz3.com/c/202927/383937/
Webprimo   https://jvz1.com/c/202927/379455/
WordPress Mastery   https://jvz1.com/c/202927/386249/
WowBackgraounds   https://jvz2.com/c/202927/381556/
WP GDPR    https://jvz8.com/c/202927/299907
WP Simulator    https://jvz3.com/c/202927/46987/
Writer Arc   https://jvz1.com/c/202927/386602/
writing job   https://jvz8.com/c/202927/213027
XBrain Forex   https://jvz3.com/c/202927/372305/
XFUNNELS   https://jvz2.com/c/202927/310335
Xinemax  https://jvz1.com/c/202927/381749/
YoDrive   https://jvz2.com/c/202927/384700/
YoSeller   https://jvz4.com/c/202927/387544/
Your 3DPal   https://jvz2.com/c/202927/381685/
YTSuite   https://jvzoo.com/c/202927/381179
Zappable   https://jvz3.com/c/202927/367328/

 

Beyond The Blockchain Hype: Two Ways The Game-Changing Technology Is Being Applied Now

When looking for technologies that are secure and remove a middleman/broker from the execution of your business plan, thus reducing the cost to your customers or decrease in your margin, distributed ledger technology (DLT) could be an option.

Blockchain is just one in an array of tools in the technical class of DLT. DLT is the roll-up technology class; it’s on a peer-to-peer (P2P) network using a consensus protocol among all the peers partaking in the DLT, eliminating the need for a clearinghouse involvement. Each peer or endpoint is called a node on a public database called the chain.

The chain itself is validated by the P2P network nodes, but the detailed data is securely stored in the block. First, there is a block of origin, and then each block is recorded as a transaction level, and the computers on the peer-to-peer network work as one. The blocks are validated by a wider community rather than a central authority. This makes it more secure and less costly in the long term.

Many have no idea when to apply DLT technologies — and to be fair, there are still very few market applications that exist outside of the crypto exchange use cases. That said, DLTs can become game-changers, as they provide a transaction-based, validated, decentralized, single-distributed ledger as well as smart contracts and crypto-assets, including currencies in certain competitive niches once they have been identified like NFTs.

They could also create a transformative effect that enables new ways of doing business that have not emerged to date. Do not underestimate the cost savings of eliminating or preventing the need for a middleman in many business models. It could help to make sense of ways of doing business that never made sense in the past.Below are two examples from my experience.

Counterfeit drugs are a complex issue in healthcare. The supply chain in pharma is negatively affected by counterfeit activities, as it leads to manipulated and artificially inflated or deflated prices. The current siloed supply chain has no way to keep counterfeit drugs out of the supply.

While there are fewer counterfeit drugs in the supply chain in the U.S. than elsewhere, having no way to monitor origins of supply can lead to unregulated and inconsistent drugs (which could be dangerous to patients) as well as losses for companies that follow regulatory guidelines and legal drug supply to the healthcare sector.

A peer-to-peer protocol like DLT technologies/blockchain could help provide a cryptographically secure, distributed private ledger that tracks each supplied drug within the supply chain through traceable and verifiable smart contracts at a discrete transactional level. To put it simply, theft, entry of counterfeit drugs and drugs that are being sold after their expiration date would be traceable.

Also, the movement of drugs and supplies to other countries post-expiration date for philanthropic purposes could be more easily traced to their next destination, and the exact use or recipient could be documented. If you can trace the origin block and the nodes within, the DLT peer-to-peer network can validate the transactions, which would allow for tighter control on what is entering the pharmaceutical drug supply.

Supply Chain

Ever wonder where your food came from and how fresh it is — especially those prepackaged lifesaving boxes of ingredients that many of us have been ordering to increase the variety of our kitchen skills and culinary repertoire?

With all of the transformative effects of the recent pandemic and digital purchasing of foods from remote locations through national delivery services straight to the consumer’s home, having the assurance of the origin of the foods, their transport length and chain-of-custody proof would give us all the confidence in who supplied and distributed them and how it was done.

It could also prevent the ingesting of something hazardous or unsafe due to delays from farm to table. We have all heard stories of farmers and agricultural businesses struggling to turn a profit. By leveraging a peer-to-peer network like in blockchain, it could prevent data manipulation, ensuring an increase in food and agricultural supply chain trust.

During the height of Covid-19, before the variants began to emerge, I participated in think-tank activities associated with Operation Warp Speed — the mechanism in which the development of vaccines was funded and distributed through partnerships between biomedical companies and numerous agencies within the federal government.

Many interesting conversations on vaccination transport weaknesses and supply chain vulnerabilities were had. These conversations shed a light on ineffective transport practices.

Through this experience, I believe blockchain could be leveraged to connect serial data points from the point of origin (e.g., organic certifications, chemicals used with barcodes, batch identifying information, and when and who the supply was released to for transport).

In transport, Bluetooth thermostats for drug and food temperatures as well as livestock monitoring for the humane treatment of the animals being transported could contribute to checkpoints in the blockchain of things like farm to table.

You can begin to imagine all of the transformative things that could be done with blockchain, as the immutable (unmodifiable, undeniable, peer-to-peer secure) data about what we are purchasing and the companies we support could help reduce waste and cruelty as well as the costs that are built into our supply development and distribution.

Encouraging technology for the sake of technology is never advised. However, any business model reliant on intermediaries that require handoffs in the production-to-consumer chain they do not control or that need secure and reliable data across an ecosystem that is not under the organization’s direct control would benefit from this technology.

Follow me on Twitter or LinkedIn. Check out my website.

Shawna is an IT Services executive, leveraging her medical background, leading the healthcare and biomedical vertical for SenecaGlobal. Read Shawna Koch

Source: Beyond The Blockchain Hype: Two Ways The Game-Changing Technology Is Being Applied Now

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The World’s Newest Call Center Billionaire

Meet the world’s newest call center billionaire. Laurent Junique is quite the globe-trotter: He’s a French citizen, his company is based in Singapore and he just listed that company, TDCX Inc., on the New York Stock Exchange last week.

Junique, TDCX’s 55-year-old founder and CEO, also just joined the billionaire ranks: Junique’s 87% stake in the firm is now worth $3 billion, thanks to a 34% rise in TDCX shares since the IPO on October 1—an offering that raised nearly $350 million for the company.

Started in 1995 in Singapore as Teledirect, an outsourced call center that handled calls, emails and faxes for a variety of clients, the company rebranded as TDCX in 2019 to reflect its expansion into a range of services including content moderation, marketing and e-commerce support. (CX is short for “customer experience” in the customer service industry.)

TDCX reported a $64 million net profit on $323 million sales in 2020, an improvement from the $54 million profit and $242 million in revenues it recorded in 2019. That growth came in part due to greater use of the services that TDCX offers, including tools that help companies improve the performance of employees working from home. Still, TDCX is highly dependent on two clients—Facebook and Airbnb—which collectively accounted for 62% of sales in 2020.

“Our successful listing reflects the world-class company that we have built and our position as the go-to partner for transformative digital customer experience services,” Junique said in a statement on the day of the IPO. “We are grateful for the support of our clients, many of whom are global technology companies that are fuelling the growth of the digital economy.”

Junique is the second call center billionaire that Forbes has tracked. The first, Kenneth Tuchman, founded Englewood, Colorado-based TTEC Holdings (formerly called TeleTech), in 1982; at nearly $2 billion, the firm had about six times the revenues of TDCX last year. Tuchman first became a billionaire in 2007. Several Indian billionaires, including HCL Technologies cofounder Shiv Nadar and Wipro’s former chairman Azim Premji, offer call centers as some of the services their firms provide.

Junique will maintain an iron grip on TDCX as a public company, controlling all of the firm’s Class B shares, which make up more than 86% of the firm’s equity and represent 98.5% of voting power. He owns those shares through Transformative Investments Pte Ltd, a company based in the Cayman Islands that is entirely owned—according to public filings with the Securities and Exchange Commission—by a trust established for the benefit of Junique and his family. While its headquarters are in Singapore, TDCX has also been incorporated in the Cayman Islands since April 2020; prior to the IPO, the firm was controlled by Junique through a Caymans-based holding company. A spokesperson for TDCX declined to comment.

Before launching TDCX as a 29-year-old in 1995, the French native cut his teeth studying advertising at the École Supérieure de Publicité in Paris and business administration at the nearby École Supérieure Internationale d’Administration des Entreprises, graduating in 1989. After a two-year stint at consumer goods giant Unilever, Junique—who had reportedly been cooking up business ideas since he was a child, including a glass recycling proposal he came up with at age 13—decided he wanted a more international career, but struggled to find a gig as a young graduate with little experience.

Armed with a suitcase and just enough cash to get by, he decamped to Singapore in 1995 to try his luck on the other side of the planet. Singapore offered a strategic location as a modern, English-speaking city at the heart of fast-growing Southeast Asia, and Junique started a call center called Teledirect aimed at businesses looking to cut costs and outsource customer service. Soon enough, Junique scored the firm’s first big client, an American credit card firm based in Singapore.

Two years later, in 1997, Junique sold a 40% stake in Teledirect to London-based advertising giant WPP for an undisclosed amount. Since then, TDCX expanded beyond call centers and now has offices in 11 countries across three continents, including locations in China, Japan and India. In 2018, Junique bought back WPP’s 40% stake in the call center business for about $28 million. Three years of growth later, the company now has a market capitalization of $3.5 billion.

With 2020 marking a record year for TDCX, Junique is hoping that the Covid-induced transition away from offices has made the firm’s products more necessary for its clients. “As consumers live more and more of their lives online, the expectation for things to be done simply, conveniently and on-demand will only increase,” Junique said in a statement.

Follow me on Twitter or LinkedIn. Send me a secure tip.

I’m a Staff Writer on the Wealth team at Forbes, covering billionaires and their wealth. My reporting has led me to an S&P 500 tech firm in the plains of Oklahoma; a

Source: The World’s Newest Call Center Billionaire

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“BBC Three – The Call Centre, Series 1”. Bbc.co.uk. 2013-12-10. Retrieved 2017-12-10.

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