Scale faster as a business

Adding twice the number of people to a workforce or doubling production speed on the line does not necessarily mean a 200% growth in productivity. Scalability can be tricky.

With process improvement, you gain the ability to evaluate whether your company’s current infrastructure, business systems, and employees not only can accommodate growth bust also whether such growth is necessary or valuable.

Manual processes might require automation, systems may need integration, and facilities may need a complete upgrade.

Consider a manufacturing firm facing increased demand. They want to scale faster without the heavy investment of doubling the workforce or upgrading facilities.

There is where Process Intelligence, AI and data analytics come into play. They decided to automate their production line and optimise inventory management.

The results..

• 50% Increase in Output: By identifying and rectifying operational bottlenecks, they boost production capacity.
• Reduced Lead times: Streamlined processes translate to faster delivery times, enhancing customer satisfaction.
• Improved resource allocation: Process intelligence helps allocate resources more efficiently, ensuring maximum utilisation of existing resources.

Respond to industry changes

Seizing new market opportunities and outperforming competitors goes beyond desire; it requires a deep understanding of your business’s capabilities and limitations.

Consider a financial services provider, as an example. They recognised the need to adapt quickly to changing market trends and gain an edge over competitors.

How?

Embracing process improvement and automation as their strategy.

Here’s how it made a significant impact:

• By employing data analytics: The organisation gained real-time insights into customer behavior, investment preferences, and market conditions. This invaluable information allowed them to offer personalized financial products and investment advice, meeting evolving customer demands.
• Efficiency through Automation: It streamlined processes, such as account onboarding and transaction processing. This caused a reduction in turnaround times, leading to improved customer satisfaction. A remarkable 15% increase in new clients due to the faster, more efficient onboarding process.
• Enhanced Customer Support with AI: These tools elevated customer service by resolving issues efficiently and reducing response times to customer inquiries. The outcome? A remarkable 92% customer retention rate, as customers experienced seamless and responsive service.

Once again, this example demonstrates how process improvement and automation empower businesses to respond swiftly to industry changes. By leveraging data-driven insights and automation, they not only adapt to evolving market conditions but also excel in customer acquisition, retention, and satisfaction.

Meet compliance requirements

Process improvement is a valuable tool for businesses to stay on top of compliance-related changes and security protocols. By integrating compliance into the process improvement framework, you can avoid last-minute scrambles to meet regulatory demands and document procedures.

Being proactive with process intelligence & automation helps you steer clear of compliance delays and costly fines, such as those associated with GDPR violations, which have resulted in fines exceeding 800 million worldwide. One effective approach is automating workflow approvals to ensure compliance.

Ensuring that everyone in your organization understands and follows compliance requirements can be challenging, especially in large or complex organizations with numerous processes spanning multiple applications.

Take, for instance, a multinational pharmaceutical corporation. They’ve mastered the art of spreading compliance messaging effectively through process improvement.

How?

They establish a centralised approach, create a dedicated communication hub for updates, and use process mapping and visualisation to understand complex processes. These can be automatically reminded and accessible to all employees across the organisation. Training, cross- functional collaboration, real-time monitoring, and continuous improvement foster a compliant culture throughout the organisation.

Increase employee satisfaction

A work environment WITHOUT process intelligence & automation can prove highly demoralising, even for the most hard-working or loyal employees.

When employees spend less time on repetitive and tedious tasks, they can concentrate on more added value tasks, boosting their energy and bringing motivation.

Automating tasks like data entry and order tracking liberates resources for more profitable activities.

RESULTS: Happier workforce, Higher Productivity, Increased Revenue.

Increase customer satisfaction

Improving and automating your business processes can make a big difference in how satisfied your clients are.

When you automate and constantly refine your processes, you can speed up response times, ensure accurate order fulfillment and provide consistent service.

1. Speeding Up Responses: Help your clients analyse their customer service workflows. By identifying bottlenecks and inefficiencies, they can streamline the process of responding to customer enquires.
2. Personalisation: Using data-driven insights to personalise interactions, like tailored product recommendations.
3. Reducing Errors: Minimising order mistakes through automation for more accurate and reliable service.
4. 24/7 Availability: Offering round-the-clock support with chatbots and automated systems.
5. Efficient Issue Resolution: Quickly identifying through process intelligence and fixing through automation, common problems will bring happier customers.