How to Turn Process Pains into Business Gains: Where there is a highly repetitive process, there is a bot to automate it

Forrester VP and Principal Analyst Craig Le Clair and Seacoast Bank Executive VP, Technology & Operations Jeff Bray joined us for the second part of our series, “How to Turn Your Process Pains into Business Gains”, which focused on Robotic Process Automation (RPA).

In “Where there is a highly repetitive process, there is a bot to automate it”, Craig and Jeff discussed how intelligent automation like RPA is transforming the business process automation landscape.  The webcast is available on-demand.

Forrester market analysis

Le Clair shared market insights on intelligent process automation and theories for successful human-machine relationship patterns. Forrester’s current market research shows the surge of investment in automation tools to aid digital transformation during the pandemic era.

Though as Le Clair says, “we have developed digital muscles we didn’t have” in order to support online shopping services and remote work capabilities, he still predicts the eventual swing back to in-person methods through the belief that “there is a certain human connection that the virtual world doesn’t provide yet”.

Within this research, Le Clair estimated that until then, 18 million US workers will remain at home. Among these are a high number of “human touch” workers which consist of location-based, retail or service industry workers, and cubicle workers whose skills lend themselves to work remotely.

Investment in automation

In Forrester’s research, businesses were asked their current perception of investment in automation – specifically, RPA and task automation.   The response was accelerated investment in automation with the benefit being a more immediate ROI and little change in core processes – resulting in less consulting and development time.

With the push to remote business, the use of bots has increased electronic banking capabilities (like mobile deposit), electronic signature across industries, and lessened the dependence on face-to-face interaction to close deals.

Le Clair’s Rule of 5

Le Clair also shared his rules for success with RPA, which he calls the “Rule of 5”:  less than 5 decisions made; less than 5 applications accessed; less than 5 hundred clicks.

The takeaway here is to embrace what RPA was originally designed for and limit the number of application integrations or decisions from becoming too complex to reduce the variability – in order to not disrupt the bot’s efficiency.

Theories on human-machine patterns

Within digital process, Le Clair described two human-machine relationship patterns: deep (consisting of few but complex processes, restricted to developers or IT) and wide (a large number of processes driven by the business and internal citizen developers).

Le Clair recommended the most successful way to achieve successful automation at scale lies within the wide operating model. He also advised that to develop a wide operating model – and a positive attitude around automation – it is essential to give people more control and the ability to tailor or develop their own solutions.

With no and low-code process automation tools and what Le Clair refers to as “an Automation Strike Team”, organizations can cultivate this positive mindset and provide authority around automation, manage guardrails, and evangelize process automation.

Expertise in intelligent automation featuring Seacoast Bank

Seacoast Bank’s Executive VP, Technology & Operations Jeff Bray shared how they are leveraging intelligent automation – specifically, Nintex RPA – to support M&A conversions and drive operations efficiency to remove manual processes.

Over their five M&A conversions, Seacoast Bank has developed expertise using Nintex RPA for data integration and managing the associated risk (higher the number of repetitive manual processes, the greater the likelihood for error). Some of these areas included data mapping, data validation, account creation, deposit & loan onboarding, and debit card ordering. Using Nintex RPA for these processes, Seacoast Bank was able to drive smooth transitions and develop trust with customers during a key transition.

With Nintex RPA, they did not have to rely on outsourcing the data migration to other core providers and were able to use already in-house resources to complete the migration within a short window – usually within a week.

Referencing their M&A conversions, Bray evaluated where else they could develop cost savings. He identified various operations processes (deposit operations, treasury management, and loan operations) that could be automated with Nintex Workflow and Nintex RPA to ultimately change the internal mindset around intelligent automation toward positive thinking – and Le Clair’s wide-operating model.

Seacoast Bank is reaping the benefits in expense reductions through faster processing times of operational tasks, improved customer service and response times, and have more than tripled their number of wire transfers on one team alone.  Nintex RPA has allowed Seacoast Bank to create speed in decision making, scalability, and manage the loss of workplace whether due to locational hazards like hurricanes for the Florida-based bank or the global pandemic.

RPA on the Nintex Process Platform

As Le Clair said, “it’s about more than just intelligent automation” – it is a holistic integration throughout process management that drives success with intelligent automation. Through process mapping, creation of integrated workflows, and bots,  businesses are creating value and process excellence on the Nintex Process Platform. See the power and speed by requesting a demo today.

 

 

See how the Nintex Process Platform enables business analysts and IT and ops professionals at organizations everywhere to quickly adopt rapid and agile automation to build and manage their own solutions through a suite of low-code and no-code tools – schedule a demo today.

 

 

Annie McIntosh

As a member of the Nintex Corporate Marketing team, Annie McIntosh spends her time creating content and delivering great experiences for Nintex customers and partners.

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