Intelligent automation: A comprehensive guide

If your business needs to sort and analyze massive quantities of raw data —and virtually every modern business does — intelligent automation can help. This process combines traditional workflow automation with cutting-edge artificial intelligence (AI) and machine learning (ML) technology to save businesses time and money and streamline many tedious clerical tasks. Intelligent automation is a fairly new idea, but it’s already delivered proven results.

Once you know how intelligent automation works, you’ll be able to understand the many possible ways it can help businesses operate more efficiently. Let’s explore intelligent automation and what it can do for you.

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What is intelligent automation?
How intelligent automation can benefit your business
Use intelligent automation to streamline your workflows
Implement intelligent automation with Ricoh services

Intelligent automation refers to the process of using computer algorithms rather than people to complete simple, repetitive tasks. This is also called intelligent process automation (IPA). Other forms of business automation rely on rigid rules. IPA, on the other hand, uses AI and ML to “learn” from your data over time.

Industries that use intelligent automation

Retail: IPA can create and send invoices to product vendors
Medicine: Intelligent automation can capture information from patient intake forms, then organize the digital records
Finance: With enough client data, IPA can approve or deny account applications and loans

Intelligent automation’s underlying concepts

Robotic process automation (RPA)

Before IPA, there was robotic process automation, or RPA. This technology can also capture data from documents and categorize files afterward. However, RPA can’t diverge from the set of rules it was preprogrammed with. IPA can adapt to new information as it “learns” from data sets over time.

Intelligent document processing (IDP)

Intelligent document processing, or IDP, is a specific kind of IPA. This process recognizes text within digital documents. Then, it makes that text indexable and searchable. Like other automation technologies, IDP can also organize files after extracting data from them. Optical character recognition (OCR) can play a part in IDP.

AI and ML

Artificial intelligence (AI) is a broad term for any computer program that does what a human would usually do. Machine learning (ML) is how AIs “learn” how to parse and analyze information over time. All intelligent automation technology involves some AI and ML elements, which is what separates IPA from RPA.

To learn more about the basics of IPA, read What Is Intelligent Process Automation?

Did You Know? Ricoh can help your company automate its workflows. Our high-quality document scanners, robust scanning software, and innovative file management work together to streamline everyday operations. Click here to learn more.

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How intelligent automation can benefit your business

Automation has been part of the business world ever since the Industrial Revolution. However, until recently, only humans could process and analyze documents. Intelligent automation changes all of that. By entrusting your documents to IPA, your business can run more efficiently, keep data more secure, and give your employees more time to do fulfilling work.

Tasks that you can automate

Data extraction: Intelligent automation systems can recognize and copy text from digital documents
File organization: Instead of manually naming and sorting your files, you can leave this to an algorithm
Database management: After an IPA process extracts data, such as names and addresses, it can also add that information to a database

Benefits of intelligent automation

Increased efficiency

Human workers need a lot of time to copy, sort, and analyze data. Computer algorithms can often complete the same task in seconds. IPA speeds up data extraction considerably. It also frees up employees to do demanding work rather than simple transcription.

Cost savings

Your employees have specialized skills. Every hour they spend on busywork is essentially wasted money. With the right IPA tools, you can get more done with fewer workers. Your existing staff can also spend more time working on assignments that machines can’t replicate.

Fewer errors

People get tired of doing repetitive tasks. Over time, they lose focus and make mistakes. Intelligent automation has a consistent output, whether it’s dealing with a dozen records or a thousand.

Read 5 Benefits of Intelligent Automation Making Big Impacts in Business for even more ways IPA can improve your company.

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Use intelligent automation to streamline your workflows

Right now, intelligent document processing is a $2 billion dollar business. Within the next five years, it could exceed $11 billion. That’s because intelligent automation helps employees work faster while saving money for companies overall. From scrappy startups to well-established industries, IPA can contribute to almost every professional field.

How to process paper documents

Invest in a document scanner with high image resolution
Use OCR functionality to convert the text into digital information
Let IPA tools organize and analyze the data Workers ready to capitalize on streamlined processes

Intelligent automation use cases

Invoice processing

Just about every industry deals with vendor invoices. IPA can identify and extract relevant information from these documents. This includes names, dates, and dollar amounts. Some IPA tools can even process these payments automatically. This saves time for employees and money for your business overall.

Customer onboarding

Before they patronize your business, customers often have to provide clerical details. IPA can make it easier for them to share names, addresses, and credit card numbers. It also helps prevent transcription errors when you store this information in a database.

Loan and mortgage applications

Loans and mortgages are complicated processes. Customers must provide reams of financial data. Analysts have to evaluate acceptable levels of risk. Intelligent automation tools can streamline the process, finding patterns that identify good candidates. These tools can also find patterns that indicate financial instability or fraud.

Check out 5 Intelligent Automation Use Cases for Modern Business for more industry-specific IPA applications.

Did You Know? RICOH Document Scanner Programs help match your company with the right hardware for the job. Find the best fit for your business here.

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Implement intelligent automation with Ricoh

Intelligent automation can be a vital part of your business’s growth strategy. Companies that invest in IPA can operate more efficiently than before. They can also save money while increasing employee satisfaction. Ricoh’s products and services can help you accomplish these goals.

Ricoh document scanners can convert physical records to high-quality digital images, while our scanning software can extract data and organize files. Our technology partners offer solutions for document capture, database management, information retrieval, and more. Book an appointment with us today to see how automated workflows could transform your company.

Note: Information and external links are provided for your convenience and for educational purposes only, and shall not be construed, or relied upon, as legal or financial advice. PFU America, Inc. makes no representations about the contents, features, or specifications on such third-party sites, software, and/or offerings (collectively “Third-Party Offerings”) and shall not be responsible for any loss or damage that may arise from your use of such Third-Party Offerings. Please consult with a licensed professional regarding your specific situation as regulations may be subject to change.

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