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Trends In Content, Workflow Management Automation

Trends In Content, Workflow Management Automation

Several industries have become a bit more aggressive in their deployments of automation software, notably those that are working to field a wide variety of new technologies and solutions along with evolving market demands. In many ways, virtually every business and public sector agency is well-suited to an automation overhaul, as rapidly rising data volumes, increasingly complex IT frameworks and other trends have not discriminated in the breadth of sectors and regions impacted. 

By the end of this decade, it is to be expected that a variety of core business processes, including enterprise resource planning, invoicing, procure-to-pay and content management, will be at least somewhat supported by a piece of automation software. With respect to the potential areas of operations that might be impacted by the use of these new and advanced technologies, the sky is truly the limit. 

IT markets are accelerating around the globe, and those organizations that keep pace with the evolution of customer and corporate demands through the use of the most modern and helpful tools available will likely stand to gain the greatest revenue-driving potential. Evidence of this has already started to break through in certain industries where decision-makers have implemented automated solutions to reduce inefficiencies and inaccuracies in certain content-related processes, including financial services. 

Considering the wide breadth of issues that tend to proliferate when staff members are tasked with completing repetitive, arduous and still important responsibilities, leveraging automation can come with advantages from several different angles. Banks have already started to automate many of their core operational procedures – both those that are entirely internal and client-facing processes – and the successes of a few have been notable. 

Tangible financial gains
Banktech recently reported that data management systems at some banks have been automated with the specific purpose of reducing the rate of errors and better handling labor costs, citing the experiences a Mississippi financial institution had. Right off the bat, the source pointed out that the organization, BankPlus, saw its labor costs reduced by $90,000 within a year of using tools that eliminate data entry

Notably, automation is not only a helpful tool for consistent and regular operations, which has been illustrated by the use of the tools among businesses that are working to modernize their physical and IT arrangements. These efforts are often highly arduous and demanding, with only one issue or inaccuracy leading to major problems down the road. 

According to the news provider, BankPlus used automation tools to migrate its core systems to a new infrastructure, and was highly successful in doing so. 

"We needed to pull all the customer and account data and populate it in our system, so that we'd have all of our data in one place, rather than running on two different systems," BankPlus vice president and data security officer Janice Smith told Banktech. "Manually, that would take a lot of manpower. Using software to automate the process is much quicker, and it's more accurate, because it eliminates human errors."

On the flip side of that coin, the source pointed out that automation can likewise benefit daily operations. 

"These kinds of daily back-office jobs would have to be done manually in our data center," Smith added, according to Banktech. "once you have this part where you can just click a button and do it automatically, it's a no-brainer for us."

Borderless potential
Banks in the United States are not the only ones ramping up their investments in automation and other helpful software technologies. A recent study from International Data Corporation revealed that manufacturers in Central and Eastern Europe have not shown signs of slowing down on their torrid path of technology investment increases, and that the market appears to be accelerating for certain segments. 

According to the study, these entities are expected to spend 18 percent more on IT in 2018 than they do today, while outsourced services and software, which already account for the two biggest portions of the market share, will remain the biggest areas of growth. 

"CEE markets still promise favorable growth rates in 2014, especially in the advanced manufacturing industries," Martin Kuban, analyst with IDC CEMA manufacturing insights, explained. "The transformation in CEE manufacturing is reflected in higher demand for specialized software and IT services, as well as for 3rd-Platform technologies."

At the end of the day, companies in virtually every industry should begin considering the potential uses of automation for their specific needs and objectives. While manufacturers and banks might have certain operational demands akin to those in other industries, optimal outcomes with technology investments and deployments will only come when they are conducted in a way that aligns with values, missions and goals of the specific business. 

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