{"id":46941,"date":"2021-10-21T08:29:11","date_gmt":"2021-10-21T15:29:11","guid":{"rendered":"http:\/\/www.enxmag.com\/twii\/?p=46941"},"modified":"2021-10-21T08:29:12","modified_gmt":"2021-10-21T15:29:12","slug":"kofax-2022-intelligent-automation-benchmark-study-reveals-companies-automation-priorities-in-the-race-to-digital-transformation","status":"publish","type":"post","link":"http:\/\/www.enxmag.com\/twii\/news\/2021\/10\/kofax-2022-intelligent-automation-benchmark-study-reveals-companies-automation-priorities-in-the-race-to-digital-transformation\/","title":{"rendered":"Kofax 2022 Intelligent Automation Benchmark Study Reveals Companies\u2019 Automation Priorities in the Race to Digital Transformation"},"content":{"rendered":"\n<p><em>Irvine, CA (Oct. 19, 2021)<\/em> \u2014 When virtually any business workflow can be automated, which do enterprise executives say are the most important and deliver the greatest value? That\u2019s the focus of the Kofax 2022 Intelligent Automation Benchmark Study just published by Kofax, a leading supplier of intelligent automation software for digital workflow transformation. First published in 2019, the annual global report has become the insider study by detailing companies\u2019 intelligent automation ambitions, challenges and outcomes.<\/p>\n\n\n\n<p>\u201cThis year, as companies navigate a drastically altered business landscape, they face myriad new challenges, from supply chain disruptions to workforce shortages. Yet the \u201cNew Normal\u201d is old news\u2014customers, prospects and other constituents are not accepting excuses for falling short of objectives,\u201d says Kathleen Delaney, Chief Marketing Officer at Kofax. \u201cAt a moment when virtually all companies agree digital workflow transformation is key, we wanted to understand where they\u2019re focusing their priorities, and what types of automation yield the greatest benefit. Having these insights will help executives apply their limited time and resources more intelligently.\u201d<\/p>\n\n\n\n<p>According to the study, organizations are focused on the following high-value customer, operational and financial workflows:<\/p>\n\n\n\n<ul><li>85% &#8211; Accounts payable automation<\/li><li>84% &#8211; Transaction processing<\/li><li>83% &#8211; Bank statement processing<\/li><li>83% &#8211; Document security management<\/li><li>82% &#8211; Invoice processing automation<\/li><li>78% &#8211; Onboarding<\/li><li>78% &#8211; Other<\/li><li>77% &#8211; Digital mailroom automation<\/li><li>77% &#8211; Claims processing<\/li><\/ul>\n\n\n\n<p>\u201cOne of our early projects was related to the transfer of patients between facilities and then documenting it,\u201d says Robert Duber, process automation manager at University Hospitals, headquartered in Shaker Heights, Ohio. \u201cPatient transfer was a manual activity and we saved quite a bit of time by automating it. As the pandemic took hold, we started to look into capacity issues and found that automation freed up staff and yielded the time needed to improve the quality of patient care.\u201d<\/p>\n\n\n\n<p>Enterprises are prioritizing these workflows for a variety of reasons, from improving the customer experience to driving better decision making. Specifically, executives say automating these functions are providing the greatest benefits:<\/p>\n\n\n\n<ul><li>94% &#8211; Optimizing customer acquisition and retention<\/li><li>93% &#8211; Running the business<\/li><li>93% &#8211; Maximizing the value of IT investments<\/li><li>93% &#8211; Improving customer engagement across multiple channels<\/li><li>83% &#8211; Ensuring compliance, data management and security<\/li><li>82% &#8211; Enhancing employee productivity and satisfaction<\/li><li>77% &#8211; Transforming back-office operations<\/li><li>77% &#8211; Gaining customer insights through data analysis<\/li><\/ul>\n\n\n\n<p>The study also details the high-value workflows that yield the greatest ROI, the challenges organizations need to overcome to automate these high-value processes, and the progress enterprises are making in their digital transformation efforts.<\/p>\n\n\n\n<p>\u201cThe digital-first business environment has exposed a chasm between companies that have transformed through automation and AI and those companies that have underinvested and find themselves weighed down by an analog business culture,\u201d says Chris Huff, chief strategy officer at Kofax. \u201cLeveraging intelligent automation to digitally transform how work gets done is the opportunity of our generation. Companies across every industry are winning by focusing on delivering frictionless and delightful experiences for their customers, while at the same time creating productive and purposeful experiences for their employees so they can engage in more meaningful activities.\u201d<\/p>\n\n\n\n<p>###<\/p>\n\n\n\n<p><strong>About Kofax<\/strong><br><a href=\"http:\/\/www.kofax.com\">Kofax<\/a> enables organizations to Work Like Tomorrow\u2014today. Our Intelligent Automation software platform and solutions digitally transform content-intensive workflows. Customers realize faster time-to-value and increased competitiveness, growth and profitability by combining Kofax\u2019s cognitive capture, RPA, process orchestration, analytics and mobile capabilities while increasing business resiliency and mitigating compliance risk. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Irvine, CA (Oct. 19, 2021) \u2014 When virtually any business workflow can be automated, which do enterprise executives say are the most important and deliver the greatest value? That\u2019s the focus of the Kofax 2022 Intelligent Automation Benchmark Study just published by Kofax, a leading supplier of intelligent automation software for digital workflow transformation. First published in 2019, the annual global report has become the insider study by detailing companies\u2019 intelligent automation ambitions, challenges and outcomes. \u201cThis year, as companies navigate a drastically altered business landscape, they face myriad new challenges, from supply chain disruptions to workforce shortages. Yet the \u201cNew Normal\u201d is old news\u2014customers, prospects and other constituents are not accepting excuses for falling short of objectives,\u201d says Kathleen Delaney, Chief Marketing Officer at Kofax. \u201cAt a moment when virtually all companies agree digital workflow transformation is key, we wanted to understand where they\u2019re focusing their priorities, and what types of automation yield the greatest benefit. Having these insights will help executives apply their limited time and resources more intelligently.\u201d According to the study, organizations are focused on the following high-value customer, operational and financial workflows: 85% &#8211; Accounts payable automation 84% &#8211; Transaction processing 83% &#8211; Bank statement processing 83% &#8211; Document security management 82% &#8211; Invoice processing automation 78% &#8211; Onboarding 78% &#8211; Other 77% &#8211; Digital mailroom automation 77% &#8211; Claims processing \u201cOne of our early projects was related to the transfer of patients between facilities and then documenting it,\u201d says Robert Duber, process automation manager at University Hospitals, headquartered in Shaker Heights, Ohio. \u201cPatient transfer was a manual activity and we saved quite a bit of time by automating it. As the pandemic took hold, we started to look into capacity issues and found that automation freed up staff and yielded the time needed to improve the quality of patient care.\u201d Enterprises are prioritizing these workflows for a variety of reasons, from improving the customer experience to driving better decision making. Specifically, executives say automating these functions are providing the greatest benefits: 94% &#8211; Optimizing customer acquisition and retention 93% &#8211; Running the business 93% &#8211; Maximizing the value of IT investments 93% &#8211; Improving customer engagement across multiple channels 83% &#8211; Ensuring compliance, data management and security 82% &#8211; Enhancing employee productivity and satisfaction 77% &#8211; Transforming back-office operations 77% &#8211; Gaining customer insights through data analysis The study also details the high-value workflows that yield the greatest ROI, the challenges organizations need to overcome to automate these high-value processes, and the progress enterprises are making in their digital transformation efforts. \u201cThe digital-first business environment has exposed a chasm between companies that have transformed through automation and AI and those companies that have underinvested and find themselves weighed down by an analog business culture,\u201d says Chris Huff, chief strategy officer at Kofax. \u201cLeveraging intelligent automation to digitally transform how work gets done is the opportunity of our generation. Companies across every industry are winning by focusing on delivering frictionless and delightful experiences for their customers, while at the same time creating productive and purposeful experiences for their employees so they can engage in more meaningful activities.\u201d ### About KofaxKofax enables organizations to Work Like Tomorrow\u2014today. Our Intelligent Automation software platform and solutions digitally transform content-intensive workflows. Customers realize faster time-to-value and increased competitiveness, growth and profitability by combining Kofax\u2019s cognitive capture, RPA, process orchestration, analytics and mobile capabilities while increasing business resiliency and mitigating compliance risk.<\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[86],"tags":[223],"_links":{"self":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/46941"}],"collection":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=46941"}],"version-history":[{"count":2,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/46941\/revisions"}],"predecessor-version":[{"id":46943,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/46941\/revisions\/46943"}],"wp:attachment":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=46941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=46941"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=46941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}