Ironwood business pattern automation
The challenge faced by most businesses in the new digital era will be to not only transform their customer experience, but importantly, their core business processes. Ironwood is a fundamentally new and innovative solution, which uses artificial intelligence to analyse business data to determine the most efficient ways to automate critical business outcomes. Most organisations need a viable alternative to their current expensive, yet ineffective ERP solutions, in addition traditional robotic process automation has not delivered on its promises. Ironwood addresses two key failures of operational processes and process automation – the inefficiency of business processes shaped around outdated human designed roles and the procedural automation of the very same inefficient processes. Ironwood is designed to solve business problems, it uses machine intelligence to do this in the most efficient way possible. It’s all about business outcomes and managing business risk. Ironwood consists of three distinct components – Intelligent Business Process Discovery, Intelligent Business Process Automation and the Anomaly Detection Engine
A closer look at Ironwood.
Intelligent Business Process Discovery
Ironwood’s Intelligent Business Process Discovery service is designed to reduce the business burden of manual process analysis and documentation. Traditional, manual approaches are human intensive, typically takes months and is usually an exercise in futility as your dynamic business and its processes are in a perpetual state of change. The Ironwood approach uses artificial intelligence to complete this complex task in a fraction of the time, making use of the data already being generated by existing systems. Once the AI has analysed the data and has calculated the logical flow of your processes, a full visual representation is generated. The key next step is to pass this analysis on to the Ironwood Intelligent Business Process Automation module, which uses machine learning to determine least-cost methods to optimise the process.
Intelligent Business Process Automation
Ironwood puts machine learning into action to intelligently automate key business processes. Intelligent, autonomous agents work in unison in swarm mode to rapidly and efficiently execute transactions and tasks, producing desired business outcomes. The machine learning engine is designed to analyse data and recognise core business patterns, seeking out least-cost process flows. This method enables Ironwood to execute business processes with the lowest number of process steps, remove unnecessary hand-offs and the need for human intervention. This approach frees up employees to focus more of their effort on value adding work. Ironwood is the answer to completely digitise your operational business processes, using artificial intelligence to maintain your competitive edge and relevance in the new digital economy.
The way in which that Ironwood achieves this is, firstly, using the Intelligent Business Process Discovery process, historical business data is sourced, analysed and processed, to build and train the machine learning model. The model is then put through its paces to ensure its accuracy in achieving the desired business outcome, which once achieved, is deployed onto the Orchestrator Agent. The Orchestrator Agent can now actively and intelligently manage all transactional workloads and data streams, it prioritises tasks and ensures that the necessary resources are available to execute. Business process execution is taken care of by the Autonomous Agents, which are spawned by the Orchestrator Agent and allocated functions and tasks on demand. The Autonomous Agents, fetch information, performs analysis, makes decisions on how to act and then takes action. All transactional data is committed to the central datastore to maintain system integrity and to feed the Anomaly Detection Engine.
Anomaly Detection Engine
Ironwood’s Anomaly Detection Engine is an external, independent system, which protects your business from potential fraudulent or irregular activities. Using intelligent pattern recognition through machine learning, the Ironwood artificial intelligence is able to detect unusual business events in real-time, which may either be considered to be irregular or may deviate from prescribed business rules. Once a suspicious event is detected, the Anomaly Detection Engine’s autonomous agent flags it and executes the necessary computed or defined step to deal with the situation. The Anomaly Detection Engine is designed to aid or replace audit processes and to efficiently automate the way anomalies are dealt with by organisations.