Companies talk about “automation”, but what does it really mean?



Automating an organization involves implementing various technologies and strategies to streamline processes, reduce manual labor, and increase efficiency. Here are some common methods:

1. Industry Software Platforms:

a) Implement enhanced software platforms that automate current processes with features like automated reconciliations or customizable workflows.

2. Process Automation:

a) Robotic Process Automation (RPA): Utilizes software robots to automate repetitive, rule-based tasks, like data entry or invoice processing.
b) Business Process Management Software (BPMS): Helps in modeling, analyzing, and optimizing business processes.

3. Data Management and Analysis:

a) Data Integration and ETL Tools: Automate the process of collecting data from various sources, transforming it, and loading it into a database for analysis.
b) Business Intelligence Tools: Automate the analysis of data to provide actionable insights.

4. Customer Relationship Management (CRM):

a) CRM systems automate and manage customer interactions, sales tracking, and customer service, improving customer engagement and retention.

5. Human Resources Automation:

a) Automate HR processes like payroll, benefits administration, and employee onboarding.

6. Digital Document Management:

a) Implement a digital document management system to reduce paper-based processes. This includes digital applications, e-signatures, and online document storage, which enhance efficiency and accessibility.

7. Compliance Automation:

a) Automate compliance monitoring and reporting to ensure adherence to regulatory requirements.

8. Artificial Intelligence and Machine Learning:

a) AI and ML can be used for automating decision-making processes, predictive analysis, and personalizing customer experiences.

9. Cloud Computing:

a) Utilizing cloud services for data storage, computing power, and scalability.

10. Collaboration Tools:

a) Tools like project management software and communication platforms to automate and streamline collaboration.

11. IT Service Management:

a) Automating IT processes and workflows, often through ITSM software.

12. API Integrations:

a) Use Application Programming Interfaces (APIs) to connect different software systems and databases for seamless data exchange. This facilitates better coordination between underwriting, claims, and accounting systems.

13. Financial Management Automation:

a) Automating accounting tasks, financial reporting, and budgeting.

14. Interactive Customer Portals:

a) Develop interactive online portals for clients to access their policies, submit claims, and communicate with agents. This improves customer service and operational efficiency.

15. Blockchain Technology:

a) Explore the use of blockchain for smart contracts, fraud prevention, and secure, transparent transactions.

Each method should be carefully evaluated and chosen based on the specific needs and capabilities of the organization. It is also essential to consider the integration of these systems to ensure smooth operations across different departments.  Vigilant specializes in helping organizations automate their business operations and systems.  Please contact us for more information.