Banking & Finance
Is your organisation ready for automation? Use the automation maturity assessment test to see how you stack up against your competitors.
The Covid-19 pandemic has seen a huge spike in organisations pursuing automation opportunities. However, in the process, many have encountered risks, inefficiencies and roadblocks that have slowed down and even terminated their plans.
These unforeseen obstacles make ‘automation maturity’ extremely important. With a tried and tested framework for measuring automation maturity, organisations can see how likely they are to succeed with an automation strategy, and also see where they stand relative to their competitors.
Think of these ‘10 measures of automation’ as the gold standard of automation for today’s businesses. With all of these pieces in place, you will be empowered to make data-driven decisions at every level, and then rapidly transform those decisions into dynamically controllable, robust and transparent processes which seamlessly integrate new ideas and technologies.
If you can answer ‘yes’ to most of the following questions, you are well on your way to automation excellence:
#1 Enterprise-level thinking
Do you manage workflows holistically across the full enterprise instead of in individual teams or departments?
#2 Platform power
Do you take a platform approach to automate end-to-end processes and orchestrating systems, databases, AI, APIs, bots and humans?
Do you view automation efforts as a collaboration between business and IT teams, rather than just an IT responsibility?
#4 Governance and visibility
Do you prioritise strong governance and visibility of all workflows (human and automated) for proactive risk management, regulatory compliance, and operational excellence?
#5 Speed and agility
Do you set up systems to rapidly adapt to changes and optimise processes?
Do you realise diverse and significant business benefits, including cost savings, a sharper competitive edge, and increased process efficiency?
#7 Digital and data
Do you focus on continuously improving digital and data systems, governance and expertise to scale automation?
#8 Added Intelligence
Do you harness AI to develop more advanced automations, transforming workflows, decision-making, case management, and more?
Do you use automation to provide industry-leading customer experience, including online and mobile experiences and innovative products and services?
Do you empower the workforce with automation and keep employees engaged, motivated and productive?
The score calculated against the 10 measures above will categorise your company into one of five stages of maturity: from a company that derives few benefits from automation to one where automation is a primary growth driver for the business.
However, even after measuring your automation maturity against this criteria, there is still one more essential question to answer: How does your organisation’s automation maturity compare to rivals in the industry?
To address this, our partner Appian has developed an interactive benchmarking tool based on the ten criteria above. It allows you to compare your organisation’s progress against your wider industry via a proprietary index. This is underpinned by data from 500 senior executives in banking and asset management in nine countries.
See where you stand in your marketplace. Start benchmarking your organisation with the automation maturity assessment now. Then get in touch with Procensol to get your automation strategy where it needs to be for 2022.
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