Conduent Research Finds Companies Recognize Power of Intelligent Automation but Need Help with Transformation and Implementation

FLORHAM PARK, N.J., March 02, 2023 (GLOBE NEWSWIRE) -- According to new research of more than 400 professionals more than 80% of respondents cited the benefits of intelligent automation. The survey found that workflow inefficiencies remain one of the biggest business challenges for enterprises. However, the research also shows that lack of internal capabilities and resources create barriers to implementing automation technologies.

Top findings from the cross-industry study conducted for Conduent Incorporated (Nasdaq: CNDT), a global technology-led business process solutions company, include:

• 50% of respondents cite too many manual processes as an inefficiency in workflow;
• 40% of respondents point to convoluted processes or workflows, as key business challenges.

“This research clearly shows there is a significant opportunity for companies to transform many of the manual processes embedded in their business through automation and working with experienced partners for implementations,” said Michelle Hernandez Vice President and General Manager at Conduent. “Research participants are very aware of the significant benefits from automation. The barriers they face can be overcome with the right solution, partner and planning to harness the benefits of technology.”

Survey respondents cited benefits of intelligent automation including:

• 85% of respondents said that automation improves service levels and regulatory compliance;
• 84% of respondents felt that automation improved data accuracy and security;
• More than 80% of respondents said it improved both employee productivity and customer satisfaction;
• More than 60% of respondents say that better tools and automation solutions would make workflow more efficient.

“Most large organizations have gone through at least one wave of automation projects and now look for advanced automation expertise to resolve industry-specific and sub-process level challenges,” said Ivan Kotzev, Lead CX Analyst at NelsonHall. “In CX services, this requirement for domain expertise drives outsourcing partnerships to the next level towards shared outcomes and benefits.”

“For automation to impact business results, companies need to look beyond technology as the solution and start with the business process first. Finding a partner that has the experience in process transformation is critical to the success of the project,” said Hernandez.

Conduent’s experience delivering business process automation solutions has consistently delivered improvements in efficiencies, productivity and cost savings when planned and executed properly including:

• 80% data extraction on handwritten and printed documents for a Medicare Advantage market leader that receives more than 78% of its Medicare open enrollment applications as handwritten forms. Manual data entry requirements were cut in half.

• Saved $5.4 million annually by reducing processing costs for a healthcare plan expanding into new business lines by leveraging Conduent’s healthcare claims processing experience.

• Increased processing speed by 50% for a global shipping and logistics company based on a new technology platform consolidating manually intensive operations previously spread across the globe.
  

Learn more about Conduent’s intelligent automation processing research at https://www.conduent.com/innovation/automation.

Survey methodology: more than 400 online survey respondents from mid-market to enterprise sized companies with at least one automated task in their job description and select qualitative interviews with senior executives who have completed an automation project over the past 18 months. Industries and functions included legal, document management, casualty claims, finance, health plan administration and mortgage and consumer loans.

About Conduent
Conduent delivers technology-led business process solutions for businesses and governments globally – creating exceptional outcomes for its clients and the millions of people who count on them. Through a dedicated global team of approximately 60,000 associates, process expertise, and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies, and reduce costs. 80 percent of Fortune 100 companies and more than 600 government entities count on Conduent as a strategic partner. Conduent adds momentum to its clients’ missions in many ways including delivering 43 percent of nutrition assistance payments in the U.S., enabling 1.3 billion customer service interactions annually, empowering more than 11 million employees through HR services every year, or processing nearly 12 million tolling transactions every day. Learn more at www.conduent.com. 

Media Contact:
Lisa Patterson, Conduent, +1-816-305-4421, lisa.patterson@conduent.com

Investor Relations Contacts:
Giles Goodburn, Conduent, +1-203-216-3546, ir@conduent.com

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