Intelligent Process Automation (IPA) solutions are increasingly being adopted by organisations to help streamline and deliver efficiencies to end-to-end processes such as accounts, sales, customer correspondence and claims. With many publications and analysts noting 2020 as the breakthrough year for IPA.
IPA is defined as an evolution of Digital Process Automation (DPA) and is more widely used for Intelligent Document Processing (IDP). Instead of simply using rules-based decision making, which relies upon structured data, IPA solutions implement approaches such as Machine Learning, Natural Language Processing and Intelligent OCR to additionally eliminate tasks within a process that normally rely upon a human’s intelligence.
It is virtually impossible for organisations to avoid these document exceptions as they are generally not in control of how suppliers provide their invoices which can become a real stumbling block for some automation technologies. The challenges presented by using traditional DPA solutions can be overcome, however, with the use of IPA technologies such as Machine Learning and Natural Language Processing. Through embracing IPA, document exceptions can be effectively handled because of the essential role that operators perform in a process called ‘Human in the Loop’.
In ‘Human in the Loop’, document exceptions are handled within the end-to-end process as there is no requirement to recode or create new templates with every new document received. With ‘Human in the Loop’ there is no-code and no-fuss for organisations. For example, Celaton’s IDP platform inSTREAM™ utilises Machine Learning algorithms to learn through the natural consequence of processing and through collaborating with operators who teach it about each document exception. This removes the need for reprogramming and ensures the process is constantly optimised and scalable, saving organisations valuable time, resource and most significantly increasing efficiency.
In conclusion, 2020 will be a breakthrough year for IPA, with organisations looking to move beyond traditional technology applications in order to overcome processing barriers. Platforms such as inSTREAM, which enable a no code no-fuss approach to technology, will far extend the possibilities of automation technologies and the value achievable by organisations.