2022 is around the corner, and studies show that digital transformation investment sees no sign of slowing down. In fact, IDC notes that the direct digital transformation growth rate is at 16.5% CAGR for 2022-2024. It predicts that organizations worldwide will invest $6.3 trillion in technologies enabling transformation efforts. Shawn Fitzgerald, research director, Worldwide Digital Transformation Strategies, shares that 53% of survey businesses said they have enterprise-wide digital transformation strategy for the first time. That’s a whopping 42% growth in a short span of 2 years.
When we observe this trend closely, we see that organizations are investing heavily in business process automation. In fact, Mckinsey recognized next-level process automation and virtualization as one of the top 10 tech trends. Furthermore, IDC projects that by 2025, the economic benefits from RPA will almost match the economic benefits from operational efficiencies. These insights are encouraging organizations to increase their investment in automation technologies. According to Gartner, more than 80% of respondents said they would continue or increase their spending on automation tools.
Process discovery drives successful automation programs
Process discovery tools such as SurfaceAI are the most significant enabler of business process automation through RPA. Since the beginning of the pandemic, forward-looking organizations have increased their investment in process discovery tools. This investment is only expected to increase in the next few years. A NelsonHall study notes that revenue from process discovery and mining solutions will reach ~4.3bn by 2025.
Process automation is driven by process visibility. With process discovery, organizations get X-ray-like visibility into their end-to-end processes spread across people and technology. It helps business leaders uncover gaps in IT system logs and provide actionable insights with potential business impact.
AI-enabled discovery will increase both accuracy and efficiency
Using automated process discovery software with AI capabilities is the most effective approach to go beyond low-hanging automation opportunities to identify high-value automation opportunities. AI helps discover root causes of process bottlenecks, deviations, and performance loss. The advanced technology overcomes the limitations of manual processes. And it can be deployed at scale to get accurate insights from hundreds or thousands of machines in a short period.
Automated discovery is free from human bias and therefore gives an objective perspective into how processes are executed naturally. AI minimizes the need for human intervention at different stages of the discovery process.
Choose a vendor who supports the enterprise-wide implementation
2022 will be an exciting year for organizations to strengthen their enterprise-wide transformation efforts. To reap full benefits, organizations need a reliable process discovery partner to ensure accuracy, scalability, and privacy. Our customers trust SurfaceAI for just that and more.
SurfaceAI’s intelligent and automated process discovery approach enables enterprises to discover automatable processes faster, saving 40% in RPA efforts. Our enterprise-grade discovery accelerates automation deployment with data-driven insights. Leveraging the capabilities of AI, SurfaceAI accurately monitors, visualizes, and documents your business processes for the next steps. Ready to get started? Get a personalized demo!