Understanding RPA Scalability

MaryBeth Folger News

Many companies building their own RPA programs have already discovered the difficulties of scaling automation. The investment of support required to maintain digital workforces is often under-estimated, a problem which diverts resources that are critical to scaling the program. A recent webinar hosted by IRPA (Institute of Robotic Procession Automation), ChoiceWORX and PwC, “Scaling in the Hyperautomation Era”, polled the expert panel and attendees to highlight some of the primary reasons that RPA initiatives are stalling. Watch the webinar here. 13% cited ‘cost of maintaining robots’. Whether a company is new to RPA or not, the financial impact of the …

Client Spotlight: CareOregon

MaryBeth Folger News

CareOregon Implements HPA’s RPA-as-a-Service to Reduce Manual Intervention in Claims Processing Founded in 1994, CareOregon is a nonprofit organization providing health insurance services to more than 375,000 low-income individuals in Oregon. CareOregon is a managed care company with a broad goal: to make world-class healthcare available to all Oregon residents, regardless of income. The plan has built a healthcare delivery system that assures member access to physicians and healthcare professionals who understand special needs and provide quality care. True to their mission, it also supports local programs that offer housing, food, and job training to all Oregonians. As a Safety …

A Definitive Guide to RPA Terminology

MaryBeth Folger News

RPA, IPA, DPA, NLP, Hyperautomation—The RPA industry has more than its fair share of terminology (and frankly, far too many acronyms!) In this post, we translate the vast RPA lexicon to get automation novices up to speed quickly or serve as a refresher for those who are well on their way with their RPA journey. Of course, if we missed a term you think would be helpful for others, please drop us a comment below. API: Application Programming Interface, or API, allow applications to interact with data from external sources. APIs act as a bridge between two or more existing …

RPA and the Role of the Tech Buyer

MaryBeth Folger News

Robotic process automation (RPA) is a tool with the potential to transform a business, and IT involvement has always been critical in one way or another. However, since RPA initiatives are typically led by Operations, IT departments may be left out earlier in the process where their input could have been valuable. We sat down with John Agnitsch, Global Technology Leader at HPA, to learn why tech buyers are so essential to successful RPA selection and adoption. Q. Tell us about the role IT plays in RPA adoption and implementation. Why is it so important for IT leaders to be …

Client Spotlight: Wyndham Capital Mortgage

MaryBeth Folger News

For Wyndham Capital Mortgage, creating an exceptional borrower experience has always been a top priority. When the national lender began using robotic process automation (RPA) in 2018, meeting this goal became a lot easier. HPA sat down with Trip Jendron, SVP of Origination Initiatives and Strategy, to learn more about how automation has helped Wyndham deliver a top-notch borrower experience. “Automation helps us close loans as quickly as possible and create an amazing, convenient experience for borrowers. We aim to offer 5-star service to each borrower, every time – with no exceptions. HPA’s contribution has helped not only with efficiency …

What Successful Payers Automate in Facets and QNXT

MaryBeth Folger News

Another Cognizant Healthcare Conference is under our belts. Though HCC 2020 looked a bit different than other years, we nonetheless set records on attendance and engagement as we all joined together safely from home. Aaron Straus, HPA’s healthcare product manager, walked attendees through a comprehensive overview of common best practices for health plans automating in Facets® and QNXT™. Straus introduced HPA, the leading RPA-as-a-Service provider for payers seeking secure and reliable automation solutions. Viewers learned about an exciting new development: the HPA Robot Marketplace featuring pre-built robots for Facets and QNXT that will accelerate implementations. Marketplace robots will cover all versions …

Integrating Machine Learning with Robotic Process Automation

MaryBeth Folger News

In June 2018, a report from McKinsey & Company predicted the transformational power of artificial intelligence (AI) and automation combined. AI and its subsets have since become intelligent additions in the world of automation to attempt to solve the issues companies are facing beyond problematic repetitive processes. Machine learning (ML) is one of many forms of artificial intelligence (AI) being applied in the RPA industry today. Machine learning is the application of AI to provide systems the ability to learn and make decisions without being explicitly programmed to do so. In RPA, ML can advance robots beyond rote process execution …

Ask a Mortgage Process Automation Expert

MaryBeth Folger News

Welcome to Part 1 of our series “Ask a Mortgage Process Automation Expert”. Be sure to catch Part 2 of the series here. Economic uncertainty in the U.S. is driving mortgage rates lower than they have been in years. Two weeks ago, mortgage rates dropped below 3% for the first time ever. According to Freddie Mac, interest rates on 30-year loans are currently at 2.99%, and 15-year rates are at 2.51%. A year ago, the 30-year rate hovered around 3.84%, and as recently as last month were around 3.34%. With rates dipping below 3%, purchase demand is as high as …

How Insurers Can Achieve Efficiency and Stability with RPA

MaryBeth Folger News

In an environment with low interest rates, market overcapacity, increased competition, and growing regulations, many insurers are fighting to remain profitable. Insurers are burdened with high volume, manual work, often utilizing duplicative legacy or mismatched tech stacks to do so. Operationally, they also suffer from gaps between business processes and systems resulting in higher costs, reduced productivity, longer cycle times, and issues with quality, compliance, and service levels. The industry is also beginning to experience labor shortages as Baby Boomers age out of the workforce and millennials shy away from the profession. Robotic Process Automation, or RPA, is an ideal …

How Mortgage Servicers Can Reduce the Strain of Corporate Advances

MaryBeth Folger News

In the unprecedented times of COVID-19, the current forbearance rate on all mortgage loans in the U.S. is hovering around 8.46%, higher than it’s been since 2009. While many borrowers will be able to work with their servicers to come out of forbearance, a portion of borrowers will default on their loans and proceed to foreclosure. These unique circumstances have prompted servicers nationwide to try and strike a balance between recouping their costs and keeping people in their homes. The cost associated with corporate advances include anything from late charges to property inspection, valuation, and preservation fees to costs associated …