Intelligent Automation News #27
Intelligent Automation News #27
Tuesday, July 11
We’re entering the summer doldrums, when everyone starts to head off for vacation and we all try to beat this incredible heat.
While not traditional beach reading, we’ve got some hot summer reads (and watches) for you:
Have a great Tuesday. Stay in the shade!
Marty
Author Talks: What Is the Key to Unlocking Digital Transformation?
In Rewired: The McKinsey Guide to Outcompeting in the Age of Digital and AI, the authors go beyond the “what” of digital transformation to providing actionable “how” advice. At Doculabs, we believe mindset is key to digital transformation – it’s a journey (a process even), not a project that ends. Kate Smaje has a great quote on this:
“Smaje:?We’ve talked about this a lot between the three of us. One of the things that actually annoys me about the term digital transformation is it has this connotation that at some point, I am done.
I tick the box. We all pat each other on the back. And off we go to whatever is next. I don’t think you’re ever done with digital transformation. For me, it’s to try and get across this notion that this is a journey; it’s a muscle that you’re constantly building, you’re constantly honing, to get better.” Read more .
Understanding the Impact of Automation in Claims
Automating the claims process is essential for customer retention for insurers. This post provides an excellent overview of why to automate and the tools needed. From the article: “Insurers that offer personalized experiences and products for their customers,?reportedly ?see an 81% increase in customer retention and an 89% increase in customer engagement. For example, usage-based insurance (UBI) products have become increasingly popular among auto policyholders.” Read more (free registration required) . https://www.propertycasualty360.com/2023/07/06/understanding-the-impact-of-automation-in-claims
[Doculabs can assist in the critical process redesign (and more) element of claims processing. For a quick overview, watch this short video on process mining and claims processing]
Being a Process Mining Programmer: Meet James Newman
James is one of the Doculabs’ instructors behind ProcessMiningIQ. James and I discuss the courses, vision for the program, and all of the collaborative learning opportunities offered by ProcessMiningIQ.
VMware Uncovered the Hidden Potential in Their Sales Pipeline With Process Mining
Using Celonis, VMware discovered that significant value was hiding in their sales pipeline. By analyzing the variants in their sales process, the BPM team identified several areas for improvement, including the following:
They found that there was a considerable variance in conversion rate between products and that the opportunity conversion rate fell with an increase in the time it took to move through the sales process stages. Read more .?https://www.celonis.com/blog/vmware-uncovered-the-hidden-potential-in-their-sales-pipeline-with-process-mining/
How Artificial Intelligence Gives Accounts Receivable Teams a Competitive Advantage
One of the most significant ways that AI has impacted accounts receivable is in the automation of predictive analytics — or the process of using data to forecast future outcomes. This has been particularly useful when it comes to understanding customer payment behavior.?
By studying historical customer data, AI can provide a credit grade indicating the level of risk associated with a given customer. It can also provide details on which invoices are likely to be paid late, and when you can expect to receive payment.??Read more .?https://www.quadient.com/en/blog/how-artificial-intelligence-gives-accounts-receivable-teams-competitive-advantage
Are You Prioritizing Productivity Over Headcount? You Should.
Has anyone ever been asked about the ROI of their automation project, and headcount is the first topic that comes up? Is productivity better for measuring ROI? According to recent research from Stanford and MIT, the implementation of artificial intelligence tools among Fortune 500 customer service representatives resulted in a notable 14% increase in worker productivity.
领英推荐
Measuring productivity offers several advantages over reducing headcount:
What other benefits are there in prioritizing productivity over cost cutting? Read the research here . Free login required. https://www.nber.org/papers/w31161
More IDP Vendors Announce GPT Features
This piece contains excellent, dare I say deep (it’s by Deep Analysis), advice about IDP and GPT. There are many vendors slapping together press releases around generative IT and IDP. This is a periodically updated article that tracks IDP companies with working and interesting approaches, including the most recent update around Instabase, Eigen Technologies, and Indico Data who were all doing LLMs before “the ChatGPT bandwagon rolled into town.” Read more . https://www.deep-analysis.net/more-idp-vendors-announce-gpt-features/
EVENTS
Celonis World Tour 2023
This “process mining roadshow” will be held in 10 cities with one mission: rapid cash impact. The event will focus on:
Multiple dates and locations around the world. Join?Celonis ?and hear from companies who have used?#processmining ?to create cash impact in their organizations.?Check here for dates and the city nearest you!
Finance Transformation Digital Summit 2023
August 8 – 9
Online
The finance department can be a growth catalyst with the right approach. Topics for this event include:
More information.?https://www.ssonetwork.com/events-finance-transformation-digital-summit
Digital Transformation Conference
Sept 21
New York, NY
The Digital Transformation Conference has been running since 2016 across the United States, the United Kingdom, and Europe, welcoming leaders and practitioners within enterprise digital transformation, innovation, and strategy. The event has become a meeting place and learning environment for many professionals seeking to succeed in digital transformation.
More information. https://digitaltransformationconf.com/
International Conference on Process Mining
October 23 – 27
Rome, Italy
ICPM has established itself as the premiere event where process mining vendors, consultants, customers, end-users, and scientists can meet, exchange ideas, and push the boundaries of the field.?https://icpmconference.org/2023/
JUST FOR FUN
Senior Managing Director
1 年Marty Pavlik Very interesting.?Thank you for sharing.