Emerging category of services expands traditional business process management capabilities with advanced analytics and AI-driven platforms
EXL, a leading data analytics and digital operations and solutions company, today announced that it has been named a Major Player in the IDC MarketScape: Worldwide Intelligent Automation Services 2022 Vendor Assessment (doc #US48061422, May 2022). This is the second IDC MarketScape in this emerging category, and the first time that EXL has been included in the research.
Focused on novel uses of artificial intelligence (AI), machine learning and cloud to automate knowledge work and decisioning environments, the IDC MarketScape spotlights the evolution of business process management into an increasingly data-intensive, technology-driven discipline.
“The old world of traditional business process management rooted in workflow efficiencies and global labor arbitrage is rapidly being replaced by sophisticated, data-driven strategies that are helping businesses transform into more nimble, resilient operations,” said Rohit Kapoor, Vice Chairman and Chief Executive Officer, EXL. “EXL has been leading that evolution by investing heavily in AI, data, cloud and digital capabilities without losing sight of the deep domain expertise in the inner workings of our clients’ businesses. By combining that knowledge with our data-led approach, we’ve been able to differentiate from our competitors and really start to define an entirely new category of data-led transformation.”
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Specific EXL initiatives that showcase the company’s groundbreaking work in the intelligent automation space include a recent project with a leading regional bank to develop a next generation buy-now-pay-later solution that seamlessly integrates with partner lending platforms and retailers to transform the retail experience for customers. The solution choregraphs credit analytics, pre-approvals, fraud prevention, and know-your-customer (KYC) support with loan servicing functions, including digital payment and collections, invisibly, in fractions of a second. Similarly, a recent data integration project with Global Insurance Broker leveraged AI and machine learning technologies from EXL to extract and analyze large volumes of unstructured customer communication data to deliver more personalized customer engagement.
The IDC MarketScape included a quantitative and qualitative analysis of 18 Intelligent Automation service providers with global service portfolios. IDC MarketScape is based on a comprehensive and rigorous framework that highlights the factors expected to be the most influential for both short-term and long-term success.
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“We are pleased to be named as a Major Player in this rapidly evolving space. We believe we have carved out an entirely new category of data-led automation that leverages a precise combination of technology, redesigned data flows, algorithmic decision support and human-in-the-loop to transform core business functions,” said Ankor Rai, Chief Data Officer, EXL. “That human component is critical because no technology alone is going to work perfectly for every use case and no fully manual, consulting-driven solution will keep pace with the speed required in today’s marketplace. We believe we are unique in our ability to bring all these capabilities to bear for a client, tying the human expertise directly into the technology-driven, data-led automation loop to create breakthrough new solutions.”
