Business Process as a Service (BPaaS)
By combining automation and human labor in a single BPaaS platform, companies can cope with growing data volumes and provide a dynamic, high-quality customer experience.
Coping with information overload
Customers are communicating on an ever-expanding array of digital channels. Traditional methods such as paper letters and faxes are being supplemented by email, social media, messaging services and even voice recordings, video and text pictures. As a result, companies have to process overwhelming levels of information from a wide variety of sources.
According to IDC, global data volumes will reach 150 zettabytes by 2025.1 At the same time, people are demanding faster, more accurate responses. If a customer has to wait two or three days for a response, they may consider alternative options. And in today’s digital-first economy, there are plenty of competitors to choose from.
Leveraging intelligent automation (IA) can play a major role in processing these data inputs, but it is only part of the solution. For certain tasks, especially those that require judgement, it can be more efficient to use human labor. The most effective approach is to combine cutting-edge technology and manual case-handling in a single platform. By getting the right mix of human and business process services, companies can create a seamless end-to-end process that is able to handle any level of complexity.
1 International Data Corporation (IDC), ‘The Digital Universe in 2020: Big Data, Bigger Digital Shadows, and Biggest Growth in the Far East.’ Available at: https://www.emc.com/collateral/analyst-reports/idc-digital-universe-united-states.pdf. Accessed March 2017.
Improve operational efficiency with SPS' BPaaS
A typical BPaaS solution involves approximately 80% automation and 20% manual processing, with both elements tightly integrated into a centralized cloud based platform. The result is an integrated system that can connect numerous functions across an organization and be used to manage entire workflows.
On the technology side, recognition programs and artificial intelligence (AI) systems, such as natural language processing (NLP) and natural language understanding (NLU), are used to automatically scan large amounts of data, and extract and categorize the most relevant information. Meanwhile, robotic process automation (RPA) inputs data into the relevant systems and bridges the gaps between different IT systems. This combination of automation and machine learning is known as intelligent automation.
For exceptions or more complex process steps, tasks are routed to human workers, either located in the same country (onshoring), or in a global service center (offshoring). With robots completing routine actions, human workers can focus on more difficult and challenging areas. The result is both increased speed and superior quality.
The benefits of SPS’ BPaaS solution include
- Automation and greater accuracy – With SPS’ BPaaS platform up to 80% of manual tasks can be automated, reducing costs, increasing speed and reducing mistakes by eliminating human error.
- Reduced costs – By reducing the need for manual workers, costs can be cut by up to 70% for some processes.2
- End-to-end digitalization – With a BPaaS platform, entire end-to-end (E2E) workflows can be managed in a scalable, efficient process.
- Focus on core business areas – With routine and repetitive tasks being automated, employees can concentrate on the most complex areas, increasing their value to the business and the customer.
- Enhance the customer experience – Efficient processing results in faster response times and greater customer satisfaction.
- Best-in-breed technology – SPS’s solution utilizes the most advanced technology, carefully selected for each task.
- Regulatory compliance – With all processes being fully auditable there is less chance of sensitive information being lost or misplaced, which could breach regulations.
Combining human and artificial intelligence in a single platform is the most efficient way to manage business-critical processes. By integrating manual handling into the system, companies can process complex tasks that require judgement.
SPS’s platform can be configured for a company’s exact needs, creating a bespoke solution exactly suited for specific challenges and tasks. To find out which BPaaS solution fits your company,
2 SPS, ‘Case Study – Leading motor vehicle insurer.’ Available at: https://www.swisspostsolutions.com/en/knowledge-center/leading-motor-vehicle-insurer. Accessed September 2018.