DM Jan-Feb 2021

Dm RESEARCH: AUTOMATION
Chris Huff
Prioritising high value business
workflows accelerates digital
transformation
Newest Intelligent Automation Benchmark Study from
Kofax reveals that automation initiatives involving
document intelligence, process orchestration and
connected systems are yielding the greatest ROI
Kofax has announced the latest part
of its Intelligent Automation
Benchmark Study, a Forrester
Consulting thought-leadership paper
commissioned by the company. As the
global pandemic pushes organisations to
accelerate digital transformation initiatives,
business leaders increasingly must decide
which automation projects to fund.
According to the study, the guidance is
clear: automating workflows with a 'DNA'
including document intelligence, process
orchestration and connected systems
yields the greatest return on investment.
"Companies seeking to remain relevant
and competitive in the digital economy are
aggressively investing in low-code
automation platforms to digitally
transform internal operations and
customer interactions," commented Chris
Huff (pictured), Chief Strategy Officer at
Kofax. "Industry winners will leverage
automation with a focus on outcomes and
experiences increasing organisational
capacity, driving operational efficiency,
empowering employees, and enhancing
customer experiences."
When asked to rank automation
technology use cases in order of
importance, the top responses cited
those requiring document intelligence.
These are workflows ingesting,
classifying and extracting unstructured
content from documents and other
sources, and turning that information
into actionable data insights for further
processing. Those use cases include:
Robotic Process Automation (RPA) - 61
percent
Artificial Intelligence (AI)/machine
learning - 43 percent
Digital Process Automation (DPA) - 40
percent
Respondents also said they're prioritising
automation capabilities focused on
process orchestration to ensure successful
ongoing management of the digital
workforce at scale. The top process
orchestration needs cited in the study
include the ability to:
Mitigate disruption to automated
processes due to changes in
underlying connected systems and
applications - 35 percent
Centralise analytics addressing
productivity of the digital workforce
and all automation technologies
deployed, including its utilisation
within the enterprise - 28 percent
Orchestrate multiple vendor solutions
in a centralised manner - 20 percent
Study respondents are also prioritising
workflows that depend upon connected
systems - the ability to connect people,
digital workers, systems, data and
applications. Specifically:
54 percent of respondents prefer
automation platforms with
complementary solutions preintegrated
with each other and/or
external solutions
61 percent of respondents want
automation vendors to have strong
ecosystems including marketplaces
and/or communities
When asked what specific types of
workflows respondents are automating,
use cases fell into three primary categories:
customer engagement, finance and
operations. Example workflows within
these categories include:
Invoice Automation
Accounts Payable Automation
Bank Statement Processing
Customer Onboarding
Loan Processing
Claims Processing
Digital Mailrooms
Document Security Management
Transaction Processing
The Kofax Intelligent Automation
Benchmark Study is based on a 2020
survey of 450 automation and AI decision
makers, and 450 individual contributors in
North America, Australia, France,
Germany, Hong Kong, Japan, Singapore,
Sweden and the United Kingdom. It
provides insights into the current state of
enterprise automation.
More info: www.kofax.com
22
@DMMagAndAwards
January/February 2021
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