Traditionally in the enterprise, there has been a conceptual divide between the front- office staff who are responsible for direct contact with customers (either individuals or corporate clients) and the back office - the behind-the-scenes teams working in administrative or support roles.
This often leads to a disconnect between customer-facing and back-office operations. The employees in direct interaction with customers often do not have enough visibility into what happens to the documents and processes once they are sent to the back office.
However, this neat divide can no longer be justified in the digital world. Customer-facing and back-office operations should be conceptualized as a continuous cycle. After all, speed of service depends in large part on the efficiency of back-office operations, having a direct impact on customer satisfaction and, as a result, the bottom line.
Today, we cannot treat customer-facing and back-office roles as two separate entities. To answer the demands for agile and user-friendly customer service, the front- and back-office technologies must be used synergistically.
Automation of business processes with RPA
RPA is a rapidly growing industry that has a huge impact on the efficiency in the back office. This technology allows companies to create true virtual workforces that drive business agility, boost productivity, and improve employee and customer experience. According to a recent study by KPMG and HfS, process automation is one of the “essentials for future survival” technologies, and 43% of executives expect to increase their spending amid the COVID-19 pandemic.
Robotic process automation delivers value across a rapidly growing number of organizations, delivering significant benefits to its adopters. If the speed of adoption of RPA technology continues at its current level, RPA will have achieved near-universal adoption within the next five years, according to Deloitte.
- RPA continues to meet and exceed expectations across multiple dimensions including improved compliance (92%)
- Improved quality/accuracy (90%), improved productivity (86%)
- Cost reduction (59%)
Yet, despite its numerous advantages, scaling RPA is clearly proving more difficult than anticipated: only 8% of organizations have scaled their digital workforce. What can organizations do to streamline their RPA deployments and scale quickly to reap the benefits?
The issue of data integrity must be solved at the point of data collection
Data integrity is one significant obstacle to RPA adoption. When RPA contain inaccurate data, they cannot operate at maximum efficiency.
The key to solving this problem lies in the front office. When customer data collection is handled via paper-based or manual processes, errors and mistakes cannot be avoided.
The customer-facing processes for data collection must be digitized end-to-end. However, many enterprises struggle with transforming their operations quickly enough to meet the demands of today's digital consumer.
Digitization of the customer journey with no-code platforms
When it comes to digital transformation in the post-COVID era, speed is paramount. Traditional customer-facing development projects take anywhere from 4 to 12 months to complete. This is no longer acceptable.
That is where no-code development comes into play. No-code platforms offer a visual, drag-and-drop interface for building enterprise-grade digital applications quickly and at a fraction of resources required for heavy, code-driven deployments.
While a few years ago, no-code development was mostly limited to SMB realms, in recent years enterprise-grade vendors have started to gain traction by offering organizations no-code platforms with the highest level of security and compliance, and which are specifically built to answer enterprise requirements.
The synergy between RPA systems and no-code digital journey builders
When it comes to digital journeys, time-to-market and user experience are of paramount importance. EasySend, a no-code platform for building and optimizing digital customer journeys in the financial services and insurance industries, can help organizations quickly transform their front office operations. EasySend offers advanced validations, as well as two-way integration with core and internal systems, to ensure that the data being fed into the RPA automation workflows is 100% accurate and error-free.
Then Kryon takes over to automate the internal workflows and processes in order to ensure that the information gets where it needs to go, as fast and efficient as possible. Moreover, thanks to Kryon’s unique Full-Cycle Automation offering that includes AI-based Process Discovery technology with direct deployment to RPA, organizations can effectively scale their automation programs while minimizing their TCO and achieving an ROI of 352%.
By combining these robust solutions, enterprises can achieve true digital transformation for their end-to-end workflows: from the very first touch point with a customer all the way through myriad of enterprise systems.
Digitizing and automating an end-to-end process at a large bank with EasySend and Kryon
In response to the financial hardships experienced by many customers during the COVID-19 crisis, a large bank released a relief assistance program for homeowners who are not able to keep up with their mortgage payments during these troubled times.
Due to the urgency of the task, digital application for the program had to be released at very short notice. The mortgage forbearance application needed to be up and running within days, including seamless front-end customer experience and robust back-end automation. The bank has turned to EasySend and Kryon for the task.
The bank’s internal team built and deployed the customer-facing digital application with EasySend’s no-code platform within 72 hours. Moreover, due to the no-code nature of the platform, the team was able to build and deploy a responsive digital process with minimal internal resources.
EasySend processes are equipped with advanced data validations, ensuring data integrity that is funnelled into the back-end systems. All the data is transferred in JSON format that easily integrates with Kryon that takes over once the data is submitted successfully. As soon as the customer data is received by the banking core system, the automation is triggered and Kryon’s bots take care of efficiently processing thousands of applications according to predefined business rules and logic. Due to the ease-of-use of Kryon Full-Cycle Automation solution and its built-in reusability of automation components, the process was automated in just two days and the total processing time of customer applications has been reduced significantly.
EasySend and Kryon are proud to have helped this bank provide an exceptionally fast response to a critical customer pain point and enabled its employees to focus their valuable time on more strategic tasks.
To conclude, the financial services industry, as well as many others, is in the midst of a true digital overhaul that has been long overdue. No-code and RPA platforms are a backbone of these transformations and should be at the core of your organization’s digital strategy.