Offering a good optimized customer experience stands or falls with the quality of your business processes and the mutual coordination. Bad business processes cause frustration for both customers and employees and cost a lot of time and money in the end.
It is important for organizations to design and continue to manage the workflows of the business processes properly. This can be done through smart use of automation and AI.
Unfortunately, when purchasing complex products or services, it often happens that business processes and associated workflows do not work properly. Think, for example, of financial products such as mortgages and business loans. This often leads to irritation and frustration among the customers, which in some cases can even lead to the rejection of a trade.
For example, if you are looking to apply for a mortgage loan, it will take a very long time. The average time between the consultation with a mortgage adviser and the final agreement with the lender is about 4 to 8 weeks. In some cases, it even takes so long that you have to submit the same documents multiple times, but updated because the previous versions have expired. Sometimes things first come to light at the end that could have been resolved much earlier with a good workflow. For example, a person who has a medical condition must pay a higher premium for certain financial products, such as a life insurance policy, than a person who is completely healthy. It can also happen if a life insurance policy is linked to a mortgage loan. With the right workflows, you can instantly gain insight into this so that the customer does not expect an ugly surprise afterwards, such as a very high premium.
Business processes and workflows can be a real monstrosity if they are not properly managed. Processes are often a black box for both managers and employees. The processes were once built, since grown and mutated several times, so the overview has been lost and they have sometimes become very incomprehensible. This leads to inefficiency, many manual actions by the staff because they sometimes have to bypass the process. This in turn results in long waits for customers and ultimately frustration. Both for the customer and the employee, because they have to devise detours to offer the customer what they want.
This can also be done differently using smart technology and AI. It does not have to be very complicated and expensive. Businesses can also start small. For example, with a chatbot that points out missing documents in the file to the mortgage lender or customer. It is already a significant efficiency step.
We advise many customers to start with process mining in IBM’s Cloud Pak for Business Automation. This is a suite of solutions that you only pay for when you use a solution. You can start small and expand it further according to your wishes and needs. A logical next step could be, for example, robot-driven process automation (RPA).
Often customers do not know where to start with modernizing business processes. At IBM, they do so-called Garage sessions to map and redesign the processes. They use visualizations and innovative tools for this. In a special room, stakeholders from your organization, together with specialists from SoftwareONE and IBM, will discuss the bottlenecks in the current situation. In complex situations, other vendors you work with may also be involved. The new workflows are designed jointly, led by a developer technical architect.
SoftwareONE is happy to help you design and manage your end-to-end workflows with intelligent technology. ONE also makes your business future-proof. Are you ready for the journey?