109% Increase in Productivity with Intelligent Process Automation- Faber
Disruption is the current talk of the town; the key word being ‘Intelligent Automation’.
Are manual jobs going to become redundant in the next 5 years? The swift and sudden advent of disruptive automation makes a lot of us anxious about the future. So is disruption really a bad thing?
An interesting perspective to this is the fact which states, that Evolutions till date, have always been preceded by massive Disruptions. Human beings for instance evolved from Dryopithecus (ape like chimpanzee) to the modern man – from 4 legs to 2 – Total disruption.
The discovery of zero, electricity, and the earth being round – are all examples of complete disruption from status quo. Hence scientifically proven, Evolution is always preceded by Disruption and thus, is necessary for life to move forward.
In today’s era of digital evolution, Hexaware’s value proposition is to disrupt and redefine technology and operating models for our customers (Grow Digital). The initiative is to drive down cost of operations and effectively address increased regulatory burden for organizations across industries (Shrink IT).
The focus on intelligent automation ranges from providing solutions such as OCR (Optical Character Recognition) to convert images to texts, text prediction or NLP (Natural Language Processing technology) to extract and convert unstructured data, voice to text to complete data processing activities or providing Robotic process automation (RPA) to automate repetitive back office/non voice tasks or virtual assistants/chat bots to speech interactive processes.
Our initiative FABER represents Intelligent Automation from a traditional processing to a multi BOT enabled transformation. The focus is about increasing productivity by eliminating the time spent on BO/non voice activities and increasing contact percentage to achieve targeted output in minimum time. The USP of the project apart from integrating a centralized data base and integrated telephony is the introduction of 3 unique BOTS:
- Online Verification BOT – for identifying and completing online verification cases.
- Research BOT – for automating the research activities by crawling into the webpages, identifying the required numbers and updating the database.
- Tracers or SOP BOT – Every client is unique with their own Standard Operating Procedures. The BOT focuses on completing the same activity for multiple clients based on the respective SOP ensuring 100% accuracy.
A 6 week pilot resulting in a 109% increase in productivity, 35% reduction in efforts and 40% increase in same day closure rate – a story of Evolution via disruption of a completely traditional manual process, in activities that was always meant to be manual.
This is a real time example where Hexaware disrupted client’s existing business operations model and designed a futuristic approach using Intelligent Automation without any fear of revenue cannibalization. Due to the success established Hexaware didn’t only create a value proposition for the existing client but also helped to scale up the service line. Using this successful model, Hexaware created a new service line, called DvaaS (Digital Verification as a Service).
FABER was awarded for the Most Promising Pilot in the Challenge the Future (CTF) Awards 2017 that will be felicitated during the Paragon Awards to be hosted by ISG on June 29th in London, UK.
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For more insights please feel free to connect with us on bps@hexaware.com
