Conduent Research Finds Companies Recognize Power of Intelligent Automation but Need Help with Transformation and Implementation
March 02 2023 - 8:45AM
According to new research of more than 400 professionals more than
80% of respondents cited the benefits of intelligent automation.
The survey found that workflow inefficiencies remain one of the
biggest business challenges for enterprises. However, the research
also shows that lack of internal capabilities and resources create
barriers to implementing automation technologies.
Top findings from the cross-industry study conducted for
Conduent Incorporated (Nasdaq: CNDT), a global technology-led
business process solutions company, include:
- 50% of respondents cite too many manual processes as an
inefficiency in workflow;
- 40% of respondents point to convoluted processes or workflows,
as key business challenges.
“This research clearly shows there is a significant opportunity
for companies to transform many of the manual processes embedded in
their business through automation and working with experienced
partners for implementations,” said Michelle Hernandez Vice
President and General Manager at Conduent. “Research participants
are very aware of the significant benefits from automation. The
barriers they face can be overcome with the right solution, partner
and planning to harness the benefits of technology.”
Survey respondents cited benefits of intelligent automation
including:
- 85% of respondents
said that automation improves service levels and regulatory
compliance;
- 84% of respondents
felt that automation improved data accuracy and security;
- More than 80% of
respondents said it improved both employee productivity and
customer satisfaction;
- More than 60% of
respondents say that better tools and automation solutions would
make workflow more efficient.
“Most large organizations have gone through at least one wave of
automation projects and now look for advanced automation expertise
to resolve industry-specific and sub-process level challenges,”
said Ivan Kotzev, Lead CX Analyst at NelsonHall. “In CX services,
this requirement for domain expertise drives outsourcing
partnerships to the next level towards shared outcomes and
benefits.”
“For automation to impact business results, companies need to
look beyond technology as the solution and start with the business
process first. Finding a partner that has the experience in process
transformation is critical to the success of the project,” said
Hernandez.
Conduent’s experience delivering business process automation
solutions has consistently delivered improvements in efficiencies,
productivity and cost savings when planned and executed properly
including:
- 80% data extraction on handwritten and printed documents for a
Medicare Advantage market leader that receives more than 78% of its
Medicare open enrollment applications as handwritten forms. Manual
data entry requirements were cut in half.
- Saved $5.4 million annually by reducing processing costs for a
healthcare plan expanding into new business lines by leveraging
Conduent’s healthcare claims processing experience.
- Increased processing speed by 50% for a global shipping and
logistics company based on a new technology platform consolidating
manually intensive operations previously spread across the
globe.
Learn more about Conduent’s intelligent automation processing
research at https://www.conduent.com/innovation/automation.
Survey methodology: more than 400 online survey respondents from
mid-market to enterprise sized companies with at least one
automated task in their job description and select qualitative
interviews with senior executives who have completed an automation
project over the past 18 months. Industries and functions included
legal, document management, casualty claims, finance, health plan
administration and mortgage and consumer loans.
About ConduentConduent delivers technology-led
business process solutions for businesses and governments globally
– creating exceptional outcomes for its clients and the millions of
people who count on them. Through a dedicated global team of
approximately 60,000 associates, process expertise, and advanced
technologies, Conduent’s solutions and services digitally transform
its clients’ operations to enhance customer experiences, improve
performance, increase efficiencies, and reduce costs. 80 percent of
Fortune 100 companies and more than 600 government entities count
on Conduent as a strategic partner. Conduent adds momentum to its
clients’ missions in many ways including delivering 43 percent of
nutrition assistance payments in the U.S., enabling 1.3 billion
customer service interactions annually, empowering more than 11
million employees through HR services every year, or processing
nearly 12 million tolling transactions every day. Learn more at
www.conduent.com.
Media Contact:Lisa Patterson, Conduent,
+1-816-305-4421, lisa.patterson@conduent.com
Investor Relations Contacts:Giles Goodburn,
Conduent, +1-203-216-3546, ir@conduent.com
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