In this hyper-connected digital age, the business process as a service (BPaaS) market has witnessed a substantial growth. Despite the rapidly changing business demands and landscapes, it has successfully made digital advantages accessible and reduced barriers for all stakeholders. Inflating customer demands, quick staff turnover, new process or product launches, fluctuating market conditions, cost cutting – organizations all over the globe leverage BPaaS solutions for a myriad of reasons and observe real business value. And the role of automation and artificial intelligence in making BPaaS solutions so potent cannot be understated. We are seeing everything around us quickly become automation-first. Though AI and automation service capabilities have been around for several-decades, we are currently seeing the technology rise to its power.
Innovations like robotic process automation (cognitive AI), conversational AI chatbots, generative AI studios, and other state-of-the-art technologies have become the subject of interest for organizations eyeing digital acceleration. Let’s understand how this technology sphere has helped BPaaS providers in catering to a multitude of industries with some of the best use cases.
What’s the role of GenAI capabilities in elevating customer experience?
Leading BPaaS providers are actively using generative AI and machine learning models to deliver human-like services through chatbots and other communication channels to enrich customer experiences. For example, to build contact center processes, GenAI platforms can act as a writing coach and can help agents quickly generate professional and effective emails and responses for customers. Agents can provide effective support faster and customers get quick and improved customer service – a win-win for everyone.
The use of gen AI in the contact center space, or better say CX space, isn’t limited to providing faster support. AI-powered performance analysis tools allow generating real-time insights and suggestions that can help improve agent performance tremendously. Moreover, AI-powered support with human oversight can also cater to the training and assessment needs in contact centers. There are so many use cases that businesses need deep diving into to optimize the benefits.
How can BPaaS providers use AI analytics to improve business outcomes for their clients?
Regardless of business size, type, processes, and audiences, organizations require data analytics to obtain operational efficiency. In digital-first companies, analytics-driven processes are especially indispensable because of vast amounts of data being generated every minute. And AI takes over the task that may be humanly impossible and analyses huge quantities of data to bring value to businesses. For example, an AI-powered system integrated with the CRM can allow the sales team to use predictive analysis to understand which customers can bring most value or profit to the company and which customers can churn. Armed with powerful data like this, salespeople can redirect their efforts in the right direction and increase conversions or sales. Be it supply chain simplification, employee performance improvement, finance-related processes, or other data-driven processes or exercises, AI analytics have certainly become integral in the BPaaS sector.
What’s the role of conversational AI in business processes?
The advancement of AI capabilities and the increase in adoption of AI technologies over the last decade have led to realistic simulations of human cognition. In the area of natural language processing (NLP), a technology that enables machines to interpret human language and respond like a human, businesses can optimize outcomes with a combined improved efficiency. For example, it can take care of repetitive tasks and free up resources, saving costs and accelerating processes. It can empower customer support executives to reduce response times to customer queries through automation. Conversational AI can also enhance CX multifold by providing customers quick and the most accurate responses to resolve their challenges.
BPaaS is also increasingly leveraging virtual reality (VR) technology to make conversational AI agents more realistic. A good example can be the use of VR headsets to engage with AI-powered support executives in a simulated environment.
What’s the role of AI automation in process simplification and optimization?
The BPaaS domain involves providing customized processes to businesses on a demand or pay-per-use basis. And in addition to customizing standard processes for unique digital infrastructures, ensuring seamlessness in workflows is of paramount importance.
Now in efforts to optimize processes, advanced mining tools conduct process visualization, identification of deviations, and finally, implementation of improvements as per the desired business outcomes. The role of artificial intelligence in business processes is to analyze historical data, monitor real-time performance, identify bottlenecks and inefficiencies, and recommend areas for improvement. AI’s ability to analyze enormous quantities of data can help make informed decisions, develop flawless business process automation strategies, and optimize process performance.
Tech Mahindra’s AI and automation capabilities
Fully-embedded AI is the key attribute of future-oriented companies and Tech Mahindra has successfully captured the essence of AI and automation service capabilities to cater to the expanding target audiences in this arena. We are a brand driven by innovation and the promise to offer best-in-class technology and services, and thus, helped many businesses improve their operational efficiency through our ingenious platform solutions.
One of our laudable service offerings includes a cognitive AI-based BPaaS solution designed using deep learning and machine learning algorithms to implement big data. It provides CFOs actionable insights from a single source of truth, assisting them in informed and effective decision-making. It captures client data and business trends over time to generate actionable insights that can steer all critical transformation initiatives across budgeting, forecasting, and other finance operations.
Our business process as a service operations model is powered by AI-driven analytics and intelligent automation capabilities, allowing us to offer seamless solutions across industries like BFS, insurance, telecom, retail, utilities, F&A, and many more. We currently offer integrated BPaaS solutions for supply chain management, field service transformation, content moderation, customer service operations, utility operations , and are also working on expanding our portfolio.
To explore our service offerings in detail, you can visit our website and send our team your query to get assistance.
About the Author
Bharath Vasudevan,
Chief Capability Officer – Tech Mahindra BPS
Bharath has over two decades of experience in leadership roles across global MNCs and privately held organizations. He is skilled at incubating and growing new ideas and businesses, fostering technology-led innovation especially in VUCA environments, relationship management and managing large, globally dispersed, and diverse workforces.
As Head of Capabilities for the business process services (BPS) portfolio at Tech Mahindra, Bharath is responsible for all the service offerings of the organization and ensures that Tech Mahindra’s BPaaS solutions, industry and domain capabilities are continuously honed and geared for cutting-edge and transformative service delivery to our clients. Bharath also oversees the architecting and implementation of new solutions, business consulting services as well as management of all our partnerships and alliances across the globe.
