Informally, business processes are the ‘things the organisation does’. These org
ID: 398444 • Letter: I
Question
Informally, business processes are the ‘things the organisation does’. These organisational activities are what create business value for the organisation. The way in which the organisation carries out these activities are critical to the business’s success. A business that is inefficient and/or ineffective in comparison to its competitors will likely not survive in the market. One way to improve efficiency and effectiveness is to use information technology to automate business processes. Business process automation is the technology-enabled automation of business processes.
With this in mind, you are required to research and write a comprehensive and detailed comment that describes and defines business process automation and the impact of business process automation upon two different industries and, after your own personal reflection, upon your career.
In your comment:
• Define and describe business process automation
• Compare and contrast the impact of business process automation upon two different industries, automobile industry and banking industry.
• Reflect upon the potential for business process automation to affect your possible future career, fund corporation manager, and what you might need to do as a consequence.
Explanation / Answer
Business process automation (BPA) is the technology-enabled automation of activities or services that accomplish a specific function or workflow. Business processes can be determined for many different segments of company activities, including sales, management, operations, supply chain, human resources, and information technology.
A business process is often started by a trigger, such as the filing of an expense report, which initiates a set of predefined workflow steps, or processes, that conclude with the employee receiving reimbursement. The goal of BPA is to not only automate business processes but to simplify and improve business workflows as well. BPA can be a standalone initiative or part of a larger, overarching business process management (BPM) strategy.
impacts of automation over the automobile industry
The advent of robotic process automation (RPA) was a key milestone in the development of the automotive industry. Automation refers to the use of machines to perform tasks that had previously been undertaken by humans, which reduces the error rate and enhances the management of repeatable tasks.
1. RPA Enhances Regulatory Compliance
Because no process-related data is stored from the software, thus keeping the information secure throughout automation. For a large North American automotive company, with a global customer and supplier base, complying with regulations in a multitude of countries can add 11% to their expenses each year, according to The Manufacturing Institute.
2. RPA Provides Real-Time Process Monitoring and Analytics
Software robots enable real-time reporting allowing manufacturers to determine optimal inventory levels and to calibrate current operations based on patterns of customer demand. They are a non-invasive tool for data extraction that provides wider and deeper analytics, with specific data for each executed process.
And in the banking sector
Accuracy, predictability and removing any trace of human error are primary goals of introducing robots into the banking industry. Automated systems can ensure compliance with internal regulation every time and collect data that will be further used to calibrate the system even more.
The banking and financial sectors are slowly moving from the first digital age to the second. AI, cloud computing, mobile-first, and digital dashboards are already the norm, and new technologies are being adopted.
Apart from RPA which is used to increase efficiency and cut costs through process automation, AI and machine learning are used for improving the relationship with the clients, increasing customization and even fraud detection.
Another tool that can prove useful in fighting crime and increasing transaction security is the blockchain approach, a framework currently popular for cryptocurrencies, but which can help traditional financial institution and state authorities to combat money laundering.
some examples
Now as if as a fund corporation manager
As per the prevailing environment associated with automation atmosphere around the global world, one may go for the sound and effective measures arriving out from the product automation to technical and strategically enhance the possibilities for better growth prospects as a consequence.