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Organizations in the financial services sector are always on the lookout for ways to accelerate their digital transformations. They have to. Now, more than ever, there’s a lot of competitors like small, nimble startups to contend with.

Another factor that increases the urgency for digital transformation is that their entire customer base expects a digital-first experience, so companies must meet that expectation to maintain and hopefully grow their market share.

One way financial services organizations are investing in their digital transformation has been by turning to process discovery technologies like process mining, task mining, and task capture tools. In fact, in Blueprint’s recent report on the State of Process Discovery, Financial Services lead all adopters by industry. Specifically, 37% of the reported adopters were financial services organizations.


Download your copy of the State of Process Discovery Report

These are the 5 ways financial services companies use task capture to improve critical processes like application processing, invoice processing, billing processing, cash flow, and more, to drive their digital transformations forward, at a faster rate.

icon-1     1. Increasing the Visibility of Tasks

Financial services organizations are using process discovery tools, like task capture solutions, to understand their current state by capturing and defining the tasks their employees are performing.

While they know their employees are processing invoices, applications, or executing KYC (know-your-customer) tasks and processes, they don’t explicitly understand how they’re doing it.

Before you can start improving or even automating a task by identifying redundancies or waste, you must first understand and visualize that process or task.

Task capture solutions enable financial services organizations to define and visualize every step in a task or process to digitize and document them before getting around to what they ultimately want to do with them, whether that be re-engineering those processes, process optimization, or automation.

icon-3    2. Improving the Quality of Task Execution

By understanding and documenting their current state through task capture tools, financial services companies can optimize and improve those tasks. Whether they simply retrain their employees on execution or automate their tasks, they’re able to reduce manual errors that drive up costs.

Errors caused by inefficient practices for manual data entry, data transformation, or data separation can be rectified and improved when the task is documented, digitized, and evaluated through an analytical lens.

icon-2     3. Improving Compliance

Financial services operate in a very heavily regulated space. Compliance isn’t a luxury; it’s a necessity.

By capturing tasks with task capture solutions, financial services organizations can audit task and process execution to ensure their employees and critical processes – like the way they treat sensitive data and security – are indeed compliant.

While performing this internal audit by capturing task execution, they can then implement the measures to ensure compliance or connect specific steps to regulations to improve change management moving forward.

icon-4     4. Standardizing Tasks

Standardization of tasks is major challenge facing all organizations today – this isn’t just limited to financial services. In other words; employees performing the same task in different ways with different steps. This type of variance inevitably leads to errors and a lack of task efficiency.

Process discovery solutions like task capture are being used to see all the different ways financial services employees carry out manual processes. They can then remove those variances which cause errors and inefficiencies, creating and implementing one standard process that everyone can follow for increased efficiency and quality.

icon-5     5. Automating Tasks

One of the most popular ways financial services organizations use process discovery tools is to identify, document, and prioritize process opportunities that would be good candidates for RPA.

Task capture is the ideal solution for financial services if automation is their desired output because task capture solutions collect and record the low-level details needed for automation development, including any regulations or system dependencies a task might have.

In reality, some task capture solutions are much better at delivering automation. At the top of that list, stands Blueprint Task Capture.

When you capture a task with Blueprint Task Capture, our solution will tell you how much of that task is already automatable in any of the leading RPA platforms you use.

Not only does this benefit reduce the amount of development work needed to automate tasks, but it also radically simplifies and accelerates RPA prioritization so you can prioritize automation candidates based on speed and value.

Blueprint also dramatically reduces the effort and time needed to develop high-quality automations, not only because all the low-level technical details are documented and captured with Blueprint Task Capture, but adding crucial dependencies like regulations and the different systems that processes interact with is quick and easy.

All of that information can then be packaged into a Digital Blueprint and automatically exported into any RPA platform due to Blueprint’s numerous bi-directional integrations you use, so there’s no need for time-consuming, outdated documents like PDDs (process design documents).

Whether financial services are looking to increase the visibility of their tasks, improve them, standardize them, or automate them, no other tool provides a quicker time to value or boost in returns like Blueprint Task Capture.

Download the Blueprint Task Capture brochure to see how.

Blueprint Task Capture Datasheet

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