What Is A Frictionless Enterprise, and What Does It Mean For Businesses?
Tonight I‘ll open an app on my phone to book a taxi home from the office. I’ll order a takeaway delivery during the ride, shop for a birthday gift for a friend, and reserve a hotel for an upcoming business trip. I can arrange and pay for all these things using the same app. And to be honest, once back home, I won’t think too deeply about the entire experience. However, I will love how it frees me up for an hour to go out running to grab a much-needed endorphin boost before dinner arrives.
My frictionless “super app” experience has brought me something priceless – time.
Businesses prize time savings highly too. To succeed in today’s fast-moving and increasingly disrupted digital landscape, companies of all sizes need to streamline processes and scale tasks as efficiently as possible to maintain a competitive edge. Like my mobile “super app”, they need to integrate and optimize multiple processes within a single infrastructure. If they get it right from end to end, they become a Frictionless Enterprise.
So, What Is A Frictionless Enterprise?
Designing a Frictionless Enterprise is more than digitalizing your business functions, for instance creating an effortless customer experience or seamless payments. I’m talking about connecting and streamlining all operations and processes to reduce inefficiencies to a minimum and deliver added value. It enables the business to achieve scalability, higher volumes, better product quality and enhanced customer service while minimizing increases in costs.
Most organizations still implement automation in a piecemeal approach rather than integrating processes into workflows. This will change as enterprises start recognizing the value of implementing end-to-end IA solutions across business functions to transform their business and gain a competitive advantage.
AI-powered Intelligent Automation is a tool that simplifies processes, improves operational efficiencies and frees up employees’ time to focus on what matters most. In fact, it’s the most significant competitive advantage that a company can leverage.
Laiye has combined a conversational interface that understands human language and an RPA solution to streamline repetitive workflows to digitize and automate critical parts of business processes. This is crucial to creating the Frictionless Enterprise of the future.
Let's look at what drives this need to become a Frictionless Enterprise.
Businesses face seismic market and environmental changes on a global scale. A fundamental reassessment of the modern workforce model has occurred, with the pandemic creating irreversible changes such as hybrid working. The digital workforce has proliferated, too, while supply chain disruptions are adding to the need for greater agility.
Growth-hungry organizations need to accelerate their digital transformation to respond to these changes. They need scalable solutions to create value and achieve sustained growth. This isn't just about offline to online. It's an omnichannel experience tailored and customized to a consumer of one. And this is both an immense opportunity but also a challenge.
Enhancing the Employee Experience
We see increasing power shifting to the employee, and this is irreversible. The great resignation represented a massive pushback against error-prone, tedious, repetitive tasks. Workers’ aims and priorities have changed, increasing the demand for flexibility and autonomy. How do businesses deal with this retention issue?
The first attempt to solve this challenge was with a technology called Robotic Process Automation (RPA), but it delivered a lot of broken promises until now. First-generation RPA technology was rules-based and deterministic, so it lacked the agility and flexibility needed to address rapidly changing market conditions. It couldn’t cope with the demands of the work being executed where workers had to apply judgment and deal with changing business conditions.
Control Meets Agility
So what do companies want? They want the best of both worlds. On one side, they want rules and controls on how processes get executed, including flows and documentation. On the other side, they want agility and flexibility to address rapidly changing market conditions. And they want to achieve this through collaboration and communication using natural language, the way we communicate with people around us.
Therefore, the ideal solution to achieve all of this is to have Intelligent Automation, which combines the power and components of Artificial Intelligence (AI), Machine Learning, Document Processing, Natural Language Processing (NLP), Process Mining, and of course, RPA at its heart. Laiye integrates everything in an all-in-one platform, driving automation through native AI technology.
Today, enterprises in industries such as retail, banking and finance, logistics, education, and healthcare are only scratching the surface of this opportunity.
There is no limit to the role AI-fueled Intelligent Automation processes can play in responding rapidly to businesses’ changing requirements to deliver a more resilient, frictionless future. So are you ready to transform? Maybe not into a “super app”, but into a “super company” – a Frictionless Enterprise driven by a hyperautomation strategy.
Interested to learn how Laiye can kick-start your journey to becoming a Frictionless Enterprise? Arrange a demo, or chat with our friendly team today.