Automation has revolutionized operational efficiency, customer experience, and growth opportunities in almost every industry sector. Even regulated industries such as healthcare, finance, and energy aren’t exempt from this change. However, introducing automation in these sectors is not always a glide across a frictionless surface due to certain challenges unique to regulated industries. Many businesses grapple with the issue of how to deploy automation while staying within the regulatory boundaries.
Despite these potential pitfalls, several industry leaders and products have shown that enhancing automation in regulated industries is not just probable but beneficial. In this article, we will look at some of these solutions and successful methods to overcome the challenges that automation may bring to regulated industries.
Overcoming Regulatory Compliance
Regulated industries are often under the scrutiny of laws and regulatory bodies. Therefore, any automation initiative must consider compliance as a crucial factor. IBM OpenPages with Watson offers a robust solution to this concern. IBM OpenPages provides an integrated platform where risk and compliance management are embedded in automation processes. Taking a cognitive approach, it offers actionable insights to identify and manage risks, ensuring uninterrupted compliance with various regulations.
Dealing with Sensitive Data
Industries like healthcare and finance deal with sensitive customer data. Automation tools must therefore have stringent measures to prevent data leakage. Microsoft Azure offers a secure platform for developing automation tools while ensuring the highest level of data security. With Azure, businesses can automate numerous workflows without worrying about the safety of customer data.
Handling Complex Processes
Regulated industries often involve complex processes. Transforming these cumbersome duties into a streamlined, automated workflow can seem overwhelming. However, UiPath’s Robotic Process Automation (RPA) can simplify the process. Its intelligent software robots mimic human actions, enabling automation of complex processes with relative ease.
Ensuring System Consistency
For regulated industries that require constant monitoring and system checks, enhanced automation can help make these tasks much easier. ABB’s Industrial Automation division provides tools like ABB AbilityTM Symphony® Plus. This solution ensures system consistency and stability by providing an integrated control and monitoring system. It helps regulated industries meet their operational goals without infrailing any kind of regulatory norms.
Encouraging Employee Acceptance
Another potential challenge in automating processes could be gaining employee acceptance. Bullhorn’s automated Onboarding software does more than just streamline workflows. It makes the onboarding process so seamless and intuitive that employee acceptance of this automation becomes easy and natural.
The challenges in implementing automation in regulated industries can seem daunting at first. However, with solutions from industry leaders like IBM, Microsoft, UiPath, ABB, and Bullhorn, these barriers can be successfully overcome. The key is to choose the right product to meet your specific needs.
By overcoming these challenges, regulated industries can make the most of automation—combining tech advancements with regulatory compliance, ensuring data privacy, streamlining complex tasks, maintaining system consistency, and fostering broader acceptance. The future of automation in regulated industries appears more than promising—it looks absolutely transformative.