DEFINITION
Workflow Automation
Workflow automation refers to the design and implementation of processes that operate with little to no need for human intervention. This is done by defining set rules that trigger specific actions once certain conditions are met. Workflow automation is used to handle repetitive and routine tasks that have predictable outcomes and a predefined journey. This is done to streamline business operations, lower processing times and the rate of human error.
Synonyms
Process automation, task automation
Acronyms
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Synonyms
Process automation, task automation
Acronyms
–
Examples
A bank is using Atfinity to automate their onboarding process. When a customer goes to fill out an application, they will only be met with a few questions, such as their name, country of residence, and purpose of the application. However, once they fill out those fields, the automated software will immediately display new questions that relate to their request.
Once they’ve filled everything out, the application is automatically sent to the bank’s core systems. Then, a second automated workflow focusing on KYC will kick into action automatically analyzing risk and verifying all of the documents collected during the onboarding. These are just some of the many workflow automations modern banks use in order to better streamline their processes.
FAQ
How to create a workflow automation?
Creating a workflow automation requires a dedicated piece of software with a built in rule engine to orchestrate different parts of the process.
What is the difference between RPA and workflow automation?
While similar, the two differ in scope. Namely, RPA focuses on automating individual steps while workflow automation handles the entire journey.
How does workflow automation help CRM?
Workflow automations can be used to streamline repetitive, but necessary, tasks in customer relationship management. For example, updating customer information across different systems, setting reminders, pointing customers to helpful pages, automating email campaigns and so on.
Book your demo today and see why leading financial institutions
worldwide trust Atfinity to drive their digital transformation.
Book your demo today and see why leading financial institutions worldwide trust Atfinity to drive their digital transformation.