What is Intelligent Automation and Niico?
Niico is an artificial intelligence and machine learning technology. It is a software “bot” programmed to interact with your core applications as if they were human, trained as part of your workforce to perform routine, repetitive work.
Niico is simple to develop and deploy not requiring complicated IT integration.
How Niico Works
Addressing the challenges of Finance Transformation
This whitepaper is designed for any business leader to understand the pillars of undertaking a finance transformation successfully.
Finance transformation strategies have grown in popularity in recent years, and it’s easy to see why.
Every year, CFOs, FDs and Finance Managers alike are asked to do more with less budget. According to recent research from Gartner, 85% of finance teams are currently undergoing a finance transformation as a result of tighter budgets, reduced resources and increased deliverable volumes.
In this white paper, we’re going to take a deep dive into the four main pain points associated with finance transformation and look at how innovative new technology is leading the way to support businesses in their finance transformation efforts.
Intelligent Automation fast tracks your digital transformation
The main component is Robotic Process Automation (RPA). RPA is a computer programme that mimics a human performing a repetitive rule-based task. It can work across functions and software applications, and it can make decisions
Niico Application Examples
The finance operation within a business, especially that of an Accounts Payable (AP) team carries a high level of responsibility to ensure invoices are correct, approved and paid on time. Yet the tasks carried out by the AP Clerks are time-consuming, repetitive and sometimes error-prone.
With Niico, these tasks can be streamlined through AI and RPA, delivering a simpler, more efficient invoice management system, improving processing time, compliance, supplier relationships and opportunities for early payment discounts.
Sales Order Processing
Customer sales orders are critical to both the sustainability and growth of any business. However, manual Sales Order Processing can be time-consuming, error-prone and lead to fulfilment delays, potentially hindering delivery lead times, ultimately leading to poor customer satisfaction.
Within sales order processing a high level of automation can be achieved through the use of Niico, delivering a smarter, more efficient process, improving time and reducing cost.
Customer Service Automation
Customer service departments are at the forefront of managing a company's reputation; yet the customer service staff tasked with this responsibility are working in a complex, time sensitive environment with multiple systems, high volumes and little room for error.
Using Niico, these tasks can be streamlined through automation, delivering a smarter, more efficient process, reducing manual effort, speeding up resolution times and enhancing customer service.
Human Resource Automation
Human resource departments can use Niico to reduce time-consuming, manual HR processes such as onboarding, payroll processing, compensation charges and exit management.
2021 Heist Awards recognises the use of Niico for clearing at UEL
On the 15th July, University of East London were awarded silver in the Best Low Budget initiative category for their use of Niico for their clearing automation project.
The Benefits of Niico
Increased Workforce Productivity & Satisfaction
Niico takes away repetitive manual tasks from staff so they can focus on complex processes that require judgement
Reduced Errors & Costs
Niico is 100% accurate avoiding human errors and replaces manual effort in running many processes across organisations often leading to direct cost
Increased Customer Satisfaction
Niico can respond quickly to customers' requests and free up staff to provide added value
Fast and Simple to Develop & Deploy
Niico Works alongside existing IT infrastructure and is non-invasive technology; a major benefit for organisations using multiple/legacy systems
Niico works best supporting scenarios such as
Niico works much faster than a human and can work 24/7 saving you time and money
Manual & Repetitive Processes
Niico automates routine manual processes, frees up your staff time and reduces errors
Experience is Strategic
Niico can make immediate improvements to your customers' experience
Structured & Unstructured
Niico works with both structured and un-structured data
Niico joins up your data without having to integrate your back-end systems