We live in a world that is increasingly digital and data-driven. We have wearable devices to monitor our steps, heart rate, and sleep quality. We have Alexa, Siri, or Google ready to take our shopping orders, play our playlist, share the latest news. We can see what shows are trending on Netflix and curated suggestions for us based on what we watched. We cannot get away from data. Where does data live? Who has access to them? What do they do with them?

Is your business mired in archaic processes? If your answer is yes, you’re far from alone. Tedious manual tasks, cumbersome workflows, communication breakdowns—these issues can be major thorns in the side of any company. Burdensome tasks lower the ceiling on a company’s potential productivity, aggravate employees, and often nudge customers to look elsewhere.

In the financial services industry, it is common for employees to spend significant time on manual, repetitive tasks that need to be completed with high speed and accuracy. Complex processes like customer onboarding, mortgage lending, and customer service are filled with routine tasks like data entry, invoice processing, response tracking, and reminders. Automation frees employees from rote tasks that are better suited to simple bots, resulting in both financial and opportunity cost savings.

When you’re in the market for a technology that will help your business run better, you’re likely to hear solution and platform vendors make pitches that focus on their current features and functionality, as well as capabilities they’ve got on their innovation road maps. Impressive as these things may be, they still may not deliver the outcomes you need.

The US mobile workforce is on the rise, expecting to grow a sizable 19% from 2020 to 2024 as organizations digitize processes and support larger remote workforces. This uptick can largely be attributed to the labor force disruption caused by COVID-19, dramatically impacting how and where businesses operate.

Process mining is on fire—a sizzling hot market that’s expected to grow from $185.3 million in 2018 to 1.4 trillion by 2023, with Europe accounting for the largest share of the growth according to the analyst firm MarketsandMarkets. But more than that, the trifecta of Process Mining + Workflow + Automation can unlock massive customer value for any company trying to compete and win in the age of hyperautomation.

Software-based automation is a relatively young concept that’s rapidly gaining popularity—as reflected by the veritable explosion of software as a service (SaaS) offerings in the last decade. Gartnre® estimates, “software as a service (SaaS) remains the largest market segment and is forecast to grow to $117.7 billion in 2021, application infrastructure services (PaaS) is anticipated to grow by a higher margin at 26.6%”.

This is the decade of hyperautomation—a decade when companies are doubling down on mating critical processes to drive sustainable growth. But here’s the problem. An eye-popping 60 to 80% of your organization’s processes may be running on unstructured data such as documents and email according to news reports. Which makes them that much harder to automate manage and audit.

Maybe these situations sound familiar to you… You want to enhance the activities of your company with digital, data-based approaches. The opportunities and challenges of digital transformation are obvious, so it makes sense to rethink certain business strategies based on data. You’ve built a strategy through creative methods like design thinking, and you know exactly what data-centric solutions you need to develop – but the technical departments are pushing back.

For financial services organizations, onboarding institutional clients is challenging. The process is complex and made even more so by increasingly distributed and decentralized work, which compromises visibility and transparency and makes connectedness difficult. It also introduces a high degree of risk, as manual processes expose organizations to errors and inconsistencies.