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HCL's 3-Lever Approach to Business Process Automation: Risk & Control Analysis; Lean & Six Sigma; Cognitive Automation

HCL has undertaken ~200 use cases spanning finance & accounting, contact, product support and cross-industry customer onboarding, and claims processing, using products including Automation Anywhere, Blue Prism, UiPath, WorkFusion, and HCL’s proprietary AI tool Exacto.

This blog summarizes NelsonHall’s analysis of HCL's approach to Business Process Automation covering HCL’s 3-lever approach, its Integrated Process Discovery Technique, its AI-based information extraction tool Exacto, the company’s offerings for intelligent product support, and its use of its Toscana BPMS to drive retail banking digital transformation.

3-Lever Approach Combining Risk & Control Analysis, Lean & Six Ssigma, and Cognitive Automation

 

 

  • The 3 lever approach forms HCL’s basis for any “strategic automation intervention in business processes”. The automation is done using third-party RPA technologies together with a number of proprietary HCL tools including Exacto, a cutting-edge Computer Vision and Machine Learning based tool, and iAutomate for run book automation

  • HCL starts by conducting a 3-lever automation study and then creates comprehensive to-be process maps. As part of this 3-lever study, HCL also conducts complexity analysis to create the RPA and AI roadmap for organizations using its process discovery toolkit. For example, HCL has looked at their entire process repository for several major banks and classified their business processes into four quadrants based on scale and level of standardization

  • When generating the “to be” process map, HCL’s Integrated Process Discovery Technique places a high emphasis on ensuring appropriate levels of compliance for the automated processes and on avoiding the automation of process steps that can be eliminated

  • The orchestration of business processes is being done using HCL’s proprietary orchestration platform, Toscana©. Toscana© supports collaboration, analytics, case management, and process discovery and incorporates a content manager, a business rules management system, a process simulator, a process modeler, process execution engines, and integrated offering including social media monitoring & management.

Training Exacto AI-based Information Extraction Tool for Document Triage within Trade Processing, Healthcare, Contract Processing, and Invoice Processing

  • HCL’s proprietary AI enabled, machine learning solution, Exacto, is used to automatically extract and interpret information from a variety of information sources. It also has natural language and image based automated knowledge extraction capabilities

  • HCL has partnered with a leading U.S. University to develop its own AI algorithms for intelligent data extraction and interpretation for solving industry level problems, including specialist algorithms in support of trade processing, contract management, healthcare document triage, KYC, and invoice processing

  • Trade processing is one of the major areas of focus for HCL. Within capital markets trade capture, HCL has developed an AI/ML solution Exacto | Trade. This solution is able to capture inputs from incoming fax based transaction instructions for various trade classes such as Derivatives, FX, Margins, etc. with accuracy of over 99%.

Combining Watson-based Cognitive Agent with Run Book Automation to Provide “Intelligent Product Support”

  • HCL has developed a cognitive solution for Intelligent Product Support based on a cognitive agent LUCY, Intelligent Autonomics using for run book automation, and Smart Analytics with MyXalytics for dashboards and predictive analytics. LUCY is currently being used in support for IT services by major CPG, pharmaceuticals, and high-tech firms and in support of customer service for a major bank and a telecoms operator

  • HCL’s tool is used for run book automation, and HCL has already automated 1,500+ run books. uses NLP, ML, pattern matching, and text processing to recommend the “best matched” for a given ticket description. HCL estimates that it currently achieves “match rates” of around 87%-88%

  • HCL estimates that it can automate 20%-25% of L1 and L2 transactions and has begun automating internal IT infrastructure help-desks.

Positioning its Toscana Platform to Drive Digital Transformation in Retail Banking

  • HCL is embarking on digital transformation through this approach and has created predefined domain-specific templates in areas including retail banking, commercial lending, mortgages, and supply chain management. Within account opening for a bank, HCL has achieved ~ 80% reduction in AHT and a 40% reduction in headcount

  • In terms of bank automation, HCL has, for one major bank, reduced the absolute number of FTEs associated with card services by 48%, a 63% decrease based on the accompanying increase in the workload. Elsewhere, for another bank, HCL has undertaken a digital transformation including implementation of Toscana©, resulting in a reduction of the number of FTEs by 46%, the implementation of a single view of the customer, a reduction in cycle time of 80%, and a reduction in the “rejection rate” from 12% to 4%.

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