Process automation is one of the most transformational cost optimization technologies, especially in data-heavy industries like insurance.
Enacting organizational change is never simple, especially in industries like insurance, which often rely on a variety of “tried-and-true” tools and methods. In spite of this, change is necessary for any company that wants to stay relevant and competitive. Rather than resisting change or forging ahead without the correct tools, having a clear, multi-step plan is essential to the effective implementation of the change management process.
Data plays a foundational role in most modern businesses. This is especially true in data-heavy industries such as insurance, where having comprehensive, accurate data is the single most important aspect of efficiently examining and processing claims. But because of the nature of modern workflows, important data often comes from a variety of separate sources. That’s why data federation is essential to ensuring that your company can access and use the data needed for everyday operations.
Business process automation is becoming more common and accessible for many fields and industries, using technology to streamline workflows. There are many strategies to implement process automation and nearly endless potential for its uses. Determining whether automation can help your business comes down to the fundamental question: why automate?
Automation is becoming more common and accessible for many fields and industries, using technology to streamline workflows. But many adopters of automation focus exclusively on automating physical processes like manufacturing while completely overlooking the many applications of automation for everyday business tasks.
Data is central to any business process, especially in information-heavy industries like insurance. Getting the right data can be a challenge, even when an organization has already done the work of collecting it. When companies consistently struggle to access data internally, they may be facing data silos. Data silos are one of the greatest sources of inefficiency, and avoiding them is key to making fast, informed decisions.
Information technology is more vital to smooth, efficient business practices than ever before, and it’s also one of the most commonly outsourced business processes. Finding the right IT vendor can be a real challenge. Many companies hire an outside firm to handle their IT processes and then take them for granted, but the gap between good and bad IT vendors is significant, and knowing what to look for can make a world of difference.
Data integration was once time-consuming, and many companies still rely on manually integrated data to keep all records up to date. However, automation is leading the charge for businesses preparing for a more efficient, connected future. In fact, automation for data integration is transforming the way organizations collect and use their data, eliminating both inefficiency and the potential for human error.
Business Process Management (BPM) is a methodology that helps businesses analyze and improve their business processes. Since its inception in the late 1990s, the definition of process management has changed from rethinking how organizations do their work to introducing new technologies necessary to succeed in the internet age. Although 96% of organizations have some type […]