- Smart Processes
- Smart Systems
- Smart Devices
- Smart Data
Capitalize on the potential of new age technologies with your human resources at the fulcrum
New age technology disrupters are on the anvil. These disrupters have tremendous potential and are game changers by themselves. The technology overhaul, though not tough to negotiate, has to leverage people-centric changes along with an all inclusive growth while still upping the organizational growth coefficient by using technology. New age technologies, such as Robotic Process Automation (RPA), are fundamentally changing the way work is done and the way human resources are supported.
RPA is a mature technology, which can be used efficiently in industries, such as Insurance, Banking, Financial Services, and paper process intensive business units, such as Finance and Commercial departments of enterprises. RPA is a technology that can automate underwriting, claims, and forms processing to a great extent with minimal human supervision. The technology thus has the potential for overhauling massive paper-based repetitive process-driven work and freeing up human resources for focusing on Business Development and Customer Relationship Management.
RPA interacts with the software applications at the Graphic User Interface level and brings about a virtual integration of multiple existing enterprise systems. Thus it does not involve undoing of heavy investment in the current enterprise systems. The technology has the potential to protect and enhance the business. In addition, RPA is scalable and can take up more tasks as and when they crop up.
While maintaining human resources at the fulcrum, RPA mimics human actions and speeds up repeatable tasks. Humans need to just review the RPA-enabled processes at the top level. RPA is a business accelerator. If we take Insurance industry for instance, RPA accelerates end-to-end processes of Claim Data Entry, Claim Processing, Claim Pre-Adjudication, and Claim Edits, Pends, and Denials. Because of RPA, conversion of manual forms be it HCFA 1500, UB92, dental & vision claim papers, online records has become speedier. The conversion of file formats to HIPAA 837, migration from HIPAA 4010 to 5010, and conversion of EDI / Text to claim form and vice versa assumes speedier proportions with RPA. Where manual processing of the forms takes 25 mins, RPA conversion takes 3 mins with 15 sec of human review. With RPA, the end-to-end processing of EOB forms can be fast-tracked.
While leveraging these new age technologies, such as RPA, an enterprise has to maintain focus on the following points on the lines of DMAIC methodology of Six Sigma:
- Define the change:
Define and develop a blueprint of the exact change that you would like to be implemented in your organization. Make your employees the stakeholders in the plan with a clear idea of the vision, direction, and the path.
- Evaluate various departments:
Identify an internal task force team and evaluate the various departments vis-à-vis the technologies that you are trying to implement.
- Analyze the ecosystem:
Work with the frontline resources and identify opportunities for effective deployment of the new age technologies. Identify and analyze the impact of the deployment on the work processes through a proof-of-concept and decide the right time for implementation.
- Implement the technology:
Commence with the technology implementation in a phased manner beginning with the department where you can quickly reap the return-on-investment (ROI).
- Control the outcome:
Conduct periodic workshops to train your human resources in order to develop expertise in the newly installed technology. The success of the project is a direct function of how well the human resources are able to receive the technology and execute.
New age disruptors, such as RPA, have a tremendous potential to leverage massive paper intensive processes with ease and miniscule human monitoring. The enterprise can realign the human efforts thus saved into Business Development and Customer Relationship Management tasks. Such an all inclusive growth can spur massive growth engines for the enterprise in the short term.
Global Head - BPO Delivery Services
Datamatics Global Services Limited