In this new digital connectivity and transformation age, collaboration and efficiency are more crucial than ever. This holds true across various applications, most especially in shared services.

 

The shared services model significantly helps many organizations consolidate business operations used by multiple parts of the same organization. However, optimizing these services requires combining strategy, technology, and innovation. This is where intelligent automation comes into play.

 

In this article, we will delve into how intelligent automation is not just a tool but a game-changer for shared services. We’ll explore various facets of this technology, from automating routine tasks to enhancing decision-making processes, and how it fosters a more collaborative and efficient work environment. Join us as we unravel the transformative impact of intelligent automation on shared services.

 

Do We Need Intelligent Automation in Shared Services?

 

The short answer to that question is “yes.” But let’s dive in and see why automation is increasingly essential in shared services.

 

Firstly, it brings a significant boost in efficiency and speed. Automation streamlines tasks that would otherwise be manual and time-consuming, enabling faster processing and turnaround times. This efficiency is crucial in today’s fast-paced business environment. In this regard, those who want to pursue careers in business administration will benefit from automation.

 

Additionally, automation has the potential for significant cost reduction. Automating routine tasks allows shared services to lower operational costs significantly. This mostly happens because you can decrease your reliance on manual labor, which reduces labor costs and minimizes the likelihood of costly errors.

 

Moreover, automation helps any organization ensure consistency and quality in service delivery. Automated processes help perform tasks consistently without the variances and errors often associated with human execution. As a result, you have a higher standard of quality and reliability in the services provided, which can increase overall customer satisfaction.

 

7 Ways Intelligent Automation Can Optimize Shared Services

 

There are seven ways that intelligence automation can optimize shared services. Here’s a deeper look at each one:

 

1) Automating Routine Tasks

Utilizing an intelligent process automation platform can streamline routine tasks in shared services. For example, in HR services, automation can handle repetitive tasks like updating employee records or processing leave applications. This reduces manual errors and frees up time for more strategic work. Automation success is evident when staff can focus on complex, value-added activities while routine processes run smoothly and efficiently.

 

2) Enhanced Customer Service

Intelligent automation tools can revolutionize customer service in shared services. By implementing chatbots and AI-driven support systems, organizations can offer 24/7 customer support. This automation improves response times and provides personalized assistance based on previous interactions. The benefits of intelligent automation in this context include higher customer satisfaction and reduced workload for customer service teams.

 

3) Data Management and Analysis

Intelligent automation can greatly improve data management in shared services. Automated systems can collect, sort, and analyze large volumes of data, providing valuable insights for decision-making. For instance, automation can analyze spending patterns in financial shared services to identify cost-saving opportunities. This ensures data accuracy and helps in strategic planning and forecasting.

 

4) Process Optimization

An automation success platform can help you optimize various business processes in your organization by identifying and eliminating inefficiencies. Using intelligent process automation, companies can map out their existing processes, detect bottlenecks, and re-engineer processes for maximum efficiency. This results in streamlined operations, reduced costs, and improved service delivery.

 

5) Compliance and Risk Management

Automation can be crucial in ensuring compliance with regulations and managing risks in shared services. Intelligent automation examples include systems that automatically update policies in response to changing regulations or monitor transactions for unusual activities. This proactive approach minimizes compliance risks and ensures adherence to industry standards.

 

6) Employee Onboarding and Training

Intelligent automation can transform the employee onboarding and training process. Automating administrative tasks such as paperwork processing and training scheduling allows new hires to have a smoother and more engaging onboarding experience. Moreover, AI-driven training modules can adapt to individual learning paces, enhancing the effectiveness of the training programs.

 

7) Financial Reporting and Analysis

Intelligent automation can significantly enhance reporting and analysis tasks in banking and financial shared services. Automation tools can generate real-time financial reports, providing up-to-date insights into financial performance. This aids in better financial planning and analysis, leading to more informed decision-making and strategic financial management.

 

Transforming Shared Services Forever

 

The shared service market is growing, with an estimated CAGR reaching 17.64% between 2022 and 2027. And as we see this growth happen, automation will only revolutionize its delivery and operation.

 

Intelligent automation can undoubtedly transform shared services as we know it. We’ve seen how it can streamline operations, enhance customer service, manage data effectively, and much more. Adopting intelligent automation goes beyond simply integrating technology. It involves reimagining how shared services can operate more collaboratively and efficiently.

 

As you and your organization continue to evolve, intelligent automation’s role in driving innovation and optimization will only become more and more significant. Hopefully, you now have the insights to understand the transformative nature of intelligent automation in shared services.

 

It’s time you consider how intelligent automation can empower collaboration in your shared services. Embracing this advancement can help you create more agile, efficient, and collaborative workplaces.