This value may differ from one company to another in the immediate future. However, overall, it revolves around one or more of four facets: customer experience, speed (including agility), employee empowerment, and partner ecosystem leverage.
Successful companies can achieve all of these goals together to a great extent. What differentiates them from others is their ability to bridge the various silos that typically impede progress in these areas. Operational and functional silos impact speed and efficiency. Communication silos impact customer and employee satisfaction, as well as internal and external collaboration. And information silos impact customer experience and operational efficiency by impairing context, speed, and accuracy.
Of these, operational and communication silos are relatively more obvious, and companies are undertaking automation programs to bridge them, with varying degrees of success. These automation programs also process traditional data adequately. However, businesses face an entirely different challenge in the form of large volumes of relevant data that they cannot access and process efficiently. And that’s unstructured content.
Learn more: It’s time to rethink enterprise content management to meet the needs of the “new normal”
Content is the main digital lever
We are witnessing an unprecedented explosion of content around us. Businesses have to manage a huge amount of business data. But there is more. According to IDC80% of global data will be unstructured by 2025. This unstructured data contains business-critical information and comes in a variety of forms: job descriptions, resumes, emails, text documents, research reports, and legal reports, voice recordings, videos, images and social media. media messages.
Successful businesses can leverage this content. They go beyond simple processing and storage in digital form. They take advantage of this to develop the important context in real time by integrating it into their business applications.
This content leverage manifests itself in several ways:
- Banks and insurance companies can onboard customers 100% digitally through a digital customer identification (CIP) program by processing uploaded ID documents and collateral and extracting all relevant information in time. real without human intervention.
- Lenders can offer direct loans in real time by applying intelligent data mining and cognitive intelligence on submitted collateral, again without having to manually enter or review document information.
- Insurers can offer on-the-spot approvals of media-based claims (videos, images, voice recordings, with embedded geospatial information) submitted by the insured, from the time and place of the incident and their automated processing.
- Businesses can save millions of dollars in scanning, printing and document generation by going completely paperless and managing the entire content lifecycle 100% digitally.
- Customer service can not only respond, but also resolve customer issues to their satisfaction by accessing relevant content in real time directly at the customer touchpoint, without compromising security or privacy.
These examples are just the tip of the iceberg. Businesses can benefit at all levels from content automation, as long as they do it right.
Content automation for holistic digital transformation
When combined with the other mainstream automation technologies, such as process automation, communication management, and artificial intelligence, content automation can be a powerful lever for extracting real value from efforts. of digital transformation.
Let’s see how businesses can do this:
Capture context and extract insights right at the point of contact
Customers and partners submit a majority of relevant content that can be processed directly at the source. Using artificial intelligence (AI) and machine learning (ML)-based content analytics, businesses can extract actionable insights from various types of content. Automating this processing also frees up valuable time for knowledge workers, who would otherwise spend considerable effort entering and/or reviewing the data against the source content. Therefore, these knowledge workers can focus on tasks that leverage their abilities and add direct value.
Transporting context throughout the customer journey
A majority of process-critical documents and media often remain inaccessible at various points in the process, leading to gaps and delays. By integrating these pieces of content into the end-to-end process and making them available to customers, partners, and employees through secure and authenticated means, companies can achieve a seamless customer journey without dropping the ball. Organizations can ensure that there are no more resubmissions of documents or pending issues for review by backend teams.
Strengthen data security and improve regulatory compliance
Companies spend a lot of time and effort extracting critical regulatory compliance information buried in piles of physical and digital documents spread across multiple geographies. Content automation enables end-to-end content lifecycle management, enabling visibility and transparency of all content, from creation to archiving. Real-time authenticated access for authorized processes and people ensures enhanced security, while auditability and traceability of all actions on content items ensures better compliance.
Enable faster, smarter decisions with content analytics
All transactions and processes involve decision making at various times based on underlying data, much of which is buried in documents. By applying robotic process automation (RPA) techniques combined with imaging, AI, ML, and natural language processing (NLP), companies can automate these decisions at every level. This achieves real-time accuracy and speed and significant time and effort savings for employees.
See more: Four trends for content collaboration in 2022
Enable better collaboration within the company and beyond
The ability to provide authenticated access to all relevant content is a very powerful lever for companies. Content services can enable this not only within the company, but also for the ecosystem of external partners. This paves the way for an extended enterprise where all partners, suppliers and even customers can collaborate on documents and processes for mutual value.
The content explosion we’re seeing is just the beginning. It’s only going to get bigger and more intense, and businesses would do well to prepare for this impending onslaught of content. Content automation goes beyond these immediate benefits to make “true digital transformation” a reality for businesses, not just today but also in the future.
How are you using content automation to leverage your digital transformation efforts? Share with us on Facebook, Twitterand LinkedIn.