Bizagi Catalyst 19 offered up a wealth of information on everything from the announcement of Bizagi Artificial Intelligence to trends in the wider digital-transformation landscape. But one thing that really stood out was the imperative for organizations to automate their business processes – or risk decline.
This message was reiterated by our customers and partners from around the globe who we were honored to host at this year’s global community conference, including Infosys, Microsoft, Deutsche Post DHL Group, Insight Investment, Travelport and Tetra Pak.
We were pleased to arrange an extremely rare coming together of the world’s three leading RPA vendors, Automation Anywhere, Blue Prism and UiPath. Their representatives shared the stage with Forrester’s Rob Koplowitz and our own CEO Gustavo Gomez as part of the IPA Leaders’ Panel discussing the impact of Intelligent Process Automation on today’s organizations.
Looking back at that panel and key sessions during the event, here are the three automation takeaways that stood out for me at Catalyst 19:
1. Automation is the #1 disruptive force
As I highlighted in my keynote presentation, Innovate or be Disrupted, technology is enabling newer companies to disrupt the large incumbents by providing solutions or services that end consumers want, when they want them, where they want them. Think of companies that have become household names in the last few years like Uber, Netflix and AirBnB, all disrupting their respective industries. In fact, Credit Suisse found that within the next ten years, half of the S&P 500 companies will be replaced by companies like these who are taking advantage of automation.
For today’s incumbent leaders, the question is: Can you innovate faster than the disruptors can scale? The good news is, this is what Bizagi helps our customers to do: innovate through automation. Universal Group exemplified the distinct competitive advantage Bizagi’s platform has given them in their Catalyst presentation How to Achieve Enterprise-Wide Transparency.
Automation and integration have helped increase Universal’s claims volumes to the point where they have double their workload in five years while only hiring one additional employee. They are also meeting customer expectations by enabling a 360 º view of their claim and its status within the process. So, both employees and customers are benefiting from automation.
2. Turn your processes into transactions
Customers now demand instantaneous responses and experiences tailored directly to their context. I recently had an amazing experience using insurance start-up Lemonade, who I spoke about at Catalyst. After seeing their advert on social media while browsing on my phone, I clicked through to their website and literally had a quote in seconds. And it would only take me a few more minutes to be fully covered. This is exactly the kind of experience that customers are now demanding: instantaneous transactions. But to facilitate these kinds of personalized and intelligent interactions, organizations need to make use of their data.
“Many incumbents will be held back by a siloed, multi-channel, multi-system set-up, which makes it hard to deliver that meaningful information in a timely fashion. They need to be connected and automated to speed up the process and convert it into a transaction,” advised our CEO, Gustavo Gomez.
According to an on-site survey at Catalyst 19, an increase in process speed was ranked the number one organizational benefit achieved through automation. By combining Bizagi’s Digital Process Automation, with RPA and AI, it’s possible to connect data and people across different systems to accelerate processes and deliver those meaningful customer transactions that so many organizations crave.
3. Automate for outcomes, not just for the sake of automation.
100% of the attendees at Catalyst who took part in our on-site survey said that their company had plans to increase investment in 2020. But organizations need to be cautious of simply automating for automation’s sake. There needs to be a strategy behind it and an outcome in mind.
This is a valuable point that Forrester’s Rob Koplowitz highlighted in his keynote, Process Drives Transformation: The Right Technology Approach Leads to Success. There is much more to the conversation than technology. Transformation leaders should focus on empowering employees to improve the customer experience.
We were pleased to recognize our most successful and innovative customers in our annual Bizagi Transformer Awards at Catalyst 19. The winners were:
• Best in Digital Transformation NAM – FM Global
• Best in Digital Transformation LATAM – Davivienda
• Best in Digital Transformation EMEA – Deutsche Post DHL Group
• Best in Digital Transformation APAC – Marina Bay Sands
• Best in Digital Transformation Global – Federal Communications Commission
• Best in Public Sector Digital Transformation – State of Maryland Workers’ Compensation Commission
• Digital Transformation Innovator of the Year – Lorelei Jensen, Old Mutual
Congratulations to all our winners and thank you to everyone that took part in Bizagi Catalyst 19.
We’re taking the show on the road in November to Washington DC for Bizagi Catalyst: Public Sector Forum where we’ll be discussing how federal agencies and government organizations can deliver digital transformation with intelligent process automation. I hope to see some of you there!