Low-Code Automation Platform: Driving Business Growth
Are you looking to drive business growth? If yes, consider Low Code Automation Platform offering the following benefits:
- Reduction of Turn Around Time (TAT) for end-to-end processing
- Increase in Resource Productivity
- Seamless Mobility Solution
- Faster Return on Investment (ROI)
These are the most sought-after benefits for most organizations when looking for any big-ticket purchase of software solutions such as CRM, BPM, and EDMS for their key business process enhancements. Most of the products with low code platforms make sure that all the benefits mentioned above are delivered in time with faster Go-to-Market capability bringing immediate enterprise-wide impact. A Low code BPM Platform is department agnostic and can be implemented across the organization for multiple business use cases. Additionally, it gives businesses an extra edge over their competitors.
Let’s take each of the above benefits of low code automation platforms point-by-point:
- Reduction of TAT for end-to-end processing: Low Code Platform like BPM caters to parallel processing of some of the independent activities. It also automates processes based on the organization’s policies with Straight-Through-Processing (STP) approach using the built-in Business Rule Engine (BRE) without any human interventions. Through Assisted Journey model configured on the platform, the Relationship Managers/ Business Correspondents/ DSA Channel partners enhance the customers’ experience in the field. TAT gets monitored and controlled with triggering alerts, and early warning signals for proactive actions with built-in Dynamic Dashboards & MIS Reporting.
- Improve & Optimise the Productivity of Resources: Low Code Platform can be used to configure Customer Self Service Portals catering to many processes like Loan Origination Process, Account Opening Processes, Credit Card Issuance, Service Requests including Limit enhancements & Top-up Loans for Banking/ NBFC; Issuance & Renewal of Insurance Policies and Settlement of Claims, etc. With the reduction in TAT and the self-service portal deployed, there will be a phenomenal improvement in the productivity of resources.
- Seamless Mobility Solutions: Low code platforms have the option to extend seamless mobility experience to empower the field team to carry out basic due diligence like capturing online/ offline KYC Details, pre-screening and evaluation process for instantaneously clearing the loan application or onboarding of customers, account opening request as per organizations’ policy. The documents required are compressed and uploaded with minimal network bandwidth to the back-end team to process the case to its closure with the option to raise any query which can be instantly resolved by the field representatives. Mobility Solutions built on a low code platform can also be configured with relevant BRE for improving the up-sell and cross-sell opportunities.
- Faster ROI: Low code platforms are a set of built-in readymade components that can be quickly configured by drag & drop mechanism to configure business processes to define various activities that are ‘best-fit’ for the organization-specific needs. They come with open APIs enabling them to seamlessly integrate with all the existing Core Business Applications using application connectors, leading to rapid implementation of solutions and that too with the feasibility to incorporate ever-changing business needs on the fly by the business users themselves.