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June 24, 2022
Digitization has changed the way we live, work, buy, and sell products and services. In these competitive times, embracing digital solutions is the key to staying relevant in business
Digitization has changed the way we live, work, buy, and sell products and services. In these competitive times, embracing digital solutions is the key to staying relevant in business. Most organizations use a plethora of software for various processes to make the workflow simpler and more efficient. There are hundreds of off-the-shelf software products that can help with almost all aspects of any business-like accounting, customer service, human resources, etc. However, all organizations, including your competitors have access to the same set of software and applications.
So, how do you create something unique – something that gives you an edge? Changing your business processes with intelligent automation software tweaked for your custom needs could be a good starting point. This will allow your organization to improve the end-to-end process enabling you to offer a customer experience that is unparalleled in your industry. Intelligent document processing (IDP) can empower your organization with next-gen technology and help you boost the customer experience (CX) for your business.
As the name suggests, intelligent document processing is a collection of technologies used in cohesion to extract data from unstructured physical documents. Since data is central to any organization’s workflow, data collection and management solutions are essential to its success.
Customer Experience is how customers perceive a brand through their entire journey with the said brand. It is an important aspect since customer experience can impact the bottom line of the brand. A positive customer experience ensures loyalty and helps you retain customers while boosting brand advocacy. In today’s times, buyers are more powerful than sellers. They have a wide range of options to choose from and endless resources to educate themselves and choose the right products/services.
In traditional business models, legacy systems and processes that didn’t communicate with each other failed to create a memorable customer experience. With organizations getting digitally transformed, most businesses realize that automation is the key to amazing customer experiences – a streamlined and automated process that is error-free and efficient.
Here are some ways in which intelligent document processing can help boost customer experience:
One of the best ways to improve customer experience is to automate tasks. This increases efficiency and reduces human error making the customer journey seamless and smooth. Many next-gen organizations use intelligent process automation to automate repetitive processes to improve customer service. Intelligent document processing helps process various customer-related documents to make these automated processes more effective and relevant. A typical customer journey involves self-serviceable automated tasks for easy queries and human interaction for complex ones. Overall, the customer has a more satisfying experience.
Today, customers have less patience to wait for a resolution to their queries. In the world of instant food and instant pictures, people expect an instant query resolution too. While that might not be always possible, intelligent document processing solutions help improve customer response times leading to a better customer experience. With IDP, the organization can ensure that all structured and unstructured data pertaining to a particular customer is stored in a common software accessible at all touchpoints. This ensures that customers receive instant responses to simple queries (think chatbots) and customer service professionals have access to the same information across the organization to answer complex queries.
One of the biggest benefits of automating processes is the reduction of human error. In fact, the manual conversion of physical documents to structured data can lead to several discrepancies or errors. Hence, one of the best ways to reduce human error in a workflow is to identify the sub-processes that can be automated with ease. With intelligent document processing, data extraction from most types of unstructured documents is possible making it a good way to automate a process and reduce human error.
In service-related businesses like insurance, loans, banking etc., there is a lot of paperwork involved while onboarding a new customer. From forms to declarations, personal documents to legal papers, the list is huge. By using intelligent document processing, organizations can ensure that all these documents are automatically fed into the business applications and workflows making the on-boarding process quicker and more efficient. This is the customer’s first interaction with the brand and a quick and error-free experience can go a long way in boosting customer experience.
IDP can be effectively incorporated into customer communication channels such as e-mail and chatbots with the objective of enhancing the customer experience journey with lesser wait time, quicker responses and more accurate resolution. AmyGB’s IDP platform “VisionERA” can be integrated with emails and chatbots, employing a unique pattern-based recognition approach to identify the intent of the email / chat, read the attachments, fetch information from databases and take necessary actions for faster resolution. The entire customer response management system can be automated with minimum human intervention, closing the communication loop with automated responses via email, chat or social media.
Intelligent document processing benefits various stages of customer interaction. Right from the time the customer first interacts with the brand to query resolution and retention, IDP can help turn an experience into delight. As most organizations struggle with volumes of data coming via various channels and in different formats, an intelligent document processing platform that can help convert all the information into digital data can form a good foundation for creating automated workflows and processes.
Today, mere service won’t cut it as customers expect to be delighted, not just offered a product or service. They are aware of the options available to them and are unwilling to settle for anything less than the best. Hence, IDP that uses artificial intelligence, machine learning, and neuro-linguistic programming can help ensure an error-free and efficient document processing system and help other teams work towards delighting the customers. Also, when you work towards automating your processes to improve customer experience, you help create internal processes that save a lot of time and effort for your employees thereby saving cost in the long-run.
To give you an example, in the insurance sector, claims processing is a long and arduous, paper-driven process. With several forms and documents to be collected from the customer, physical documents are usually sent across departments to get the claim processed. With intelligent document processing, the entire claims process from capturing the initial set of documents to getting inter-departmental updates can be done using applications. IDP ensures that all kinds of physical documents are processed efficiently and the information is uploaded to the necessary systems. This makes claims processing faster and boosts customer experience.
Any organisation from almost any industry that places its customers first, can boost CX using intelligent document processing. IDP can take care of most of your document processing concerns and allow you to focus on your customers. Remember, data is the backbone of any successful business. Hence, by using IDP to process physical documents, you can be assured of high-quality data extraction with minimal human effort. Also, since IDP uses machine learning, it evolves with time and improves in accuracy.
In a nutshell, to boost customer experience, you need efficient processes and easily available insights to drive customer focused, data driven decisions. Automation can help you achieve this. With IDP to manage physical documents, process automation will be more efficient and effective than ever before.