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The Benefits of Using Automation in Manufacturing

benefits of using automation in manufacturing

To maintain a competitive edge in the fiercely competitive business of manufacturing, companies must carefully walk the line between investing in new technologies and minimizing costs. In this pursuit of excellence, digital automation has emerged as a beacon of hope through its combination of software robotics, AI, and the Internet of Things (IoT), to reach unparalleled levels of productivity, quality, and scalability in the manufacturing industry.

This article explores the inherent benefits of employing business process automation software concerning manufacturing and its potential to revolutionize the industry. From enhancing production efficiency to addressing the skills gap, each aspect represents a stepping stone toward a more optimized, competitive, and future-proof manufacturing landscape.

Automation has begun to usher in a new era where traditional manufacturing methods and manual labor will soon be replaced with virtual software robots that work in conjunction with machines to perform workflows with greater accuracy, faster speeds, and absent human error.

How Can Digital Automation Help Companies in the Manufacturing Industry?

According to a recent study, if 64% of manufacturing tasks were automated 749 billion working hours would be saved globally. This statistic alone showcases how automation can increase workforce efficiency at any business, provided solutions are implemented properly:

1. The Efficiency Leap: Enhancing Production Efficiency through Automation

One of the most evident benefits of automation lies in its ability to elevate production efficiency to unprecedented heights. Manufacturing operations that leverage automation technologies witness a significant reduction in cycle times and an increase in output. Machines, unaffected by fatigue, work continuously, leading to a continuous and consistent flow of production. As a result, businesses can meet growing demands while reducing lead times, ensuring on-time deliveries, and bolstering customer satisfaction.

2. The Pursuit of Perfection: Ensuring Product Quality and Consistency

In a highly competitive market landscape, product quality is paramount in determining a manufacturer’s success. Human errors are unavoidable, and even the most skilled workers can falter under monotonous and repetitive tasks. Automation, with its precision and reliability, eradicates variations, leading to uniformity and superior product quality. By implementing automated manufacturing systems in quality control processes, manufacturers can achieve a remarkable reduction in defects and rejections, saving both time and resources.

3. Prioritizing Safety: Improving Workplace Safety Through Automation

Employee safety is a cornerstone of responsible manufacturing practices and is dramatically enhanced when automation solutions are implemented. The integration of automation technology mitigates risks by reducing the involvement of human workers in hazardous or physically demanding tasks. Business process automation tools excel in handling dangerous materials and environments, leading to a dramatic decrease in workplace accidents and ensuring a safer work environment for all. Moreover, this fosters a positive work culture, improving employee morale and retention rates.

4. Smart Resource Management: Optimizing Resources with Automation

Resource management plays a pivotal role in operational efficiency and sustainability. Automation aids manufacturers in optimizing the use of resources such as raw materials, energy, and time. By streamlining processes, automating energy-intensive tasks, and minimizing waste, businesses can reduce their environmental footprint and embrace a greener approach to manufacturing. This not only aligns with the rising demand for eco-friendly products but also establishes the brand as a responsible corporate citizen.

5. Embracing Agility: Flexibility and Scalability in Manufacturing

The business landscape is perpetually evolving, and manufacturers must adapt swiftly to changing market demands. Automation empowers companies to embrace agility by offering unparalleled flexibility and scalability. Automated systems can be quickly reprogrammed and reconfigured to accommodate different product specifications, sizes, and configurations. Consequently, businesses will be more equipped to seize new market opportunities, pivot their production lines, and respond promptly to customer demands, gaining a competitive edge in the dynamic marketplace.

6. Empowering Data-Driven Decision Making

As Industry 4.0 continues to transform the manufacturing landscape, data has emerged as a valuable asset. Automation integrates sensors and IoT devices that gather real-time data on production performance, machine health, and quality metrics. This treasure trove of information empowers manufacturers to make data-driven decisions, optimize processes, predict maintenance requirements, and identify potential bottlenecks. The ability to leverage data effectively equips businesses with a strategic advantage, propelling them toward continuous improvement and operational excellence.

7. Bridging the Skills Gap: Collaborative Automation

The manufacturing sector has been grappling with a skills void, where the demand for skilled workers exceeds the available workforce. Automation offers a solution to this challenge through collaborative robotics or cobots. These robots work alongside human operators, handling repetitive or physically demanding tasks, while human workers focus on more complex and creative aspects of production. Collaborative automation not only bridges the skills gap but also augments human potential, fostering a harmonious and productive human-machine partnership.

How to Automate Manufacturing?

Automating manufacturing processes is a key step toward streamlining operations and maximizing productivity. Here’s a concise guide to help you navigate the journey of automation:

Assess Your Processes: Begin by evaluating your existing manufacturing workflows. Identify manual, high-volume, and repetitive tasks as areas with automation potential.

Set Clear Objectives: Define your automation goals, whether it’s to increase output, reduce errors, or enhance quality. Clear objectives will guide your automation strategy.

Choose the Right Technology: Select automation solutions that align with your specific needs. Explore options like robotics, AI-powered systems, or IoT devices, depending on your industry and requirements.

Start with a Pilot Project: Launch a small-scale pilot to test the effectiveness of automation in a controlled environment. Analyze the results and gather feedback to refine your approach.

Integrate Seamlessly: Ensure that your business process automation solution integrates smoothly with existing systems. This fosters a cohesive and efficient manufacturing ecosystem.

Train Your Workforce: Empower your employees with the skills needed to work alongside automated systems. Encourage a collaborative mindset that values automation as a tool for productivity enhancement.

Monitor and Optimize: Continuously monitor the impact of automation on key performance indicators. Use data insights to optimize processes and make data-driven decisions.

Scale Gradually: Expand automation gradually across different processes and departments as your team becomes more comfortable with the technology.

Prioritize Data Security: Implement robust cybersecurity measures to safeguard sensitive data, ensuring compliance with regulations and protecting your company’s reputation.

Embrace the Future: Embrace the principles of Industry 4.0 to unlock the full potential of automation and prepare your manufacturing business for a dynamic and competitive future.

Benefits of Automation in Manufacturing

benefits of using automation in manufacturing

Automation brings multiple benefits to the manufacturing industry. If you wish to harness the full potential of your business, it is time to switch to automation.

  • Increased Productivity
  • Enhanced Quality Control
  • Improved Safety
  • Increased Flexibility
  • Shortened Production Time
  • Data-driven Decision Making
  • Skilled Workforce Utilization

Get powerful automation solutions from SVAM and empower your manufacturing business with the technology of the future.

Experience the Benefits of Automation in Manufacturing

Automation has ushered in a new era of manufacturing, where efficiency, quality, safety, and flexibility converge to drive optimal growth and profitability. From enhanced production efficiency to data-driven decision-making business process automation services can help with each aspect of automation.

SVAM International, Inc. is a global leader in combining RPA with AI and Machine Learning (ML) and excels in automating repetitive tasks intelligently for its clients. By bridging the gap between intelligent automation and artificial intelligence, we effectively minimize staffing expenses and mitigate the potential for human errors. Our expertise lies in creating seamless solutions that optimize efficiency and drive productivity for our valued clients.

A growing number of organizations (36%) are using business process management software to automate workflows, with 50% of business leaders planning to automate more repetitive tasks. If you wish to join the bandwagon of growth, it’s time to connect with SVAM.

why zero trust will be a top business priority in 2023

In February 2023, T-Mobile, a wireless telecommunication provider, announced that a bad actor had gained access to some customer data through a vulnerable API. As per their declaration, sensitive data like payment card information, or social security numbers were stolen in the breach. Incidents like these aren’t new as cyber crimes are increasing by leaps and bounds with each passing year.

The prediction is that $8 trillion will be lost to cyber crimes by the end of 2023, which is almost a third of the USA’s GDP in 2022 and twice as much as India’s projected GDP in March 2023. The global loss to cybercrime will grow more than 15% year by year to reach $10.5 trillion by 2025.

Even though there are various traditional cyber security models embedded in the business’ infrastructure, many IT experts witnessed a leak in their cloud security models. The compromised security and increased concerns of attacks, especially after remote working, have led them to resort to the ZTNA (Zero Trust Network Access).

Organizations have increasingly used Zero Trust security over the past few months to manage the cyber war and to pull the levers of their compromised channels.

Thus, more digitization and more compromised security means a need for more robust security measures for which ZTNA is the ideal choice.

What is Zero Trust?

Zero Trust is a security framework that implies that before granting or maintaining access to applications and data, all users—whether inside or outside the organization’s network—must first authenticate, authorize, and undergo ongoing security configuration and posture validation. Zero Trust is based on the principle that you should not trust internal or external resources and that there is no such thing as a traditional network edge.

The current digital transformation uses the Zero Trust framework to secure data and infrastructure. It covers issues such as ransomware threats, cloud infrastructures, and hybrid or remote working models.

Being a complex entity until the companies start using the ZTNA at large, many organizations have come up with their own definitions of Zero Trust.

SVAM International, in their constant efforts to boost the cyber security measures and provide highly robust solutions, can help you identify, implement, and understand the right cybersecurity program including zero trust. They have also partnered with Tanium, to further enhance their suite of end-to-end security solutions.

Principles of Zero Trust

Zero trust software works on three principles. It’s because of these principles that zero trust stands out of the crowd of other cyber security solutions.

1. Never trust, always verify: This principle states that every device, application, person, website, and data should be addressed as a threat or untrusted for a zero-trust system.

2. Verify Rigorously: No device or data should have the advantage of non-verified authentication and should be highly verified before granting access.

3. Assume Breach: Manage and protect resources as if the threat is already present in the area. Every use should be checked by fault, examine each user, data flow, and authorization request. It also states that all network traffic should be constantly monitored for breaches or any breach-like activity.

What is the Need for Zero Trust?

As discussed earlier in the article, there is a dire need for end-to-end security measures and risk analysis. Owing to the need, 75% of firms have realized that they need to update the already existing technological infrastructure as it is necessary to manage emerging cyber risks and ensure that Zero Trust software principles are incorporated into cloud adoption models from the beginning.

In order to strengthen cyber security, organizations can make ongoing security procedures more robust so that businesses can devote more time to innovative tasks rather than worrying about security.

It may be surprising that even though the concept of ZTNA is on the rise, 44% of companies need assistance in choosing and implementing the best zero-trust model. Additionally, nearly two-thirds of businesses feel that their teams lack the time, knowledge, and skills necessary to successfully roll out best practices for zero trust throughout the company.

What’s more intriguing is that the businesses that are already familiar with the model cannot fully comprehend how to put ideas into practice since they are unsure of how and where to implement a Zero Trust strategy in order to bolster their individual security plans.

This is where a cybersecurity company led by the subject matter experts comes in!

SVAM International, as a leading cybersecurity organization, knows what it takes to establish and integrate the solutions that can help enhance security measures. Our experts can help find the right zero trust model and assist in implementing the same the right way across the organization.

Before we jump to the solution, let’s see the trends that will make zero trust security a Top Business Priority in 2023.

Reasons Why Zero Trust Will Be a Business Priority in 2023

We need more measures to secure the data and businesses in the online world where hackers are trying to breach accounts, leak data, and gain monetary benefits from ransomware attacks. This is why zero trust is the need of the hour.

Here are a few reasons why zero trust will be a top business priority 2023.

1. Compliance will be a top business priority

Having data compliance is challenging for companies owing to the rigidity of each data privacy law. Adding to the challenge is the fact that the companies that have not taken the necessary precautions to protect data are subject to substantial fines under the data privacy regulations. Thus, it becomes highly imperative to protect the data and comply with the data regulation.

All the futuristic businesses concerned about data protection would want to have a data-centric focus to significantly reduce the danger of an eventual breach. Through the strategy, businesses can protect data even if a breach occurs.

SVAM International can help you build the right infrastructure for end-to-end data protection and risk analysis even before the breach happens, reducing the chances of exponential loss and increasing the chances of data recovery.

2. Data security will be an organizational concern

Cyber security is not just the concern of the CXO level, it has now creeped down to the employee level. It is believed that most data breaches occur at the lower levels as not every employee has knowledge about data security.

The businesses will prioritize data security and protection as a result of this convergence of usage. Owing to the same, 62% of respondents anticipate an increase in their security budget of up to 10% in 2023.

Whatever the current use of the data is, companies will look into ways to protect it. Data security issues will be the main driver of privacy compliance in 2023. Companies will increase their efforts in data protection as penalties for breaking privacy laws become more common.

3. Zero trust will accelerate data protection

In contrast to the regular security measures that offer minimal security, the organizations will go above and beyond the most fundamental security precautions for data protection strategies. The paradigm shift to zero trust model is a testament to how priceless that data is, and the non-compromisable need to always protect it, whether it is being used or stored.

Organizations looking to reduce data risk must assume a breach has occurred in order to eliminate the risk. Businesses that are aware of this will use proactive protection techniques at the record level, making data inaccessible to hackers. As they contribute to enhancing corporate reputation and fostering customer trust, these actions are advantageous for business.

3. A possible recession will drastically increase data’s value

In the last few months, companies like Meta, Twitter, Goldman Sachs, Amazon, and DoorDash have been laying off employees at a startling rate. According to Inc.42, as of December 8, 2022, 17,989 employees were laid off by 52 Indian startups, including several unicorns. Unfortunately, many warning signs are pointing to an impending recession. In such a scenario, companies will rely on data more than ever to get valuable insights that can help make data-driven decisions, discover emerging market trends, and strategize sales.

Given the critical nature of data insight during potential recessions, organizations must employ methods that allow continuous analysis while protecting data at all costs.

4. Transition from data stores to data pipelines

Decision makers at the CXO level are aware of how important data is for every decision. The steadily rising investments in data processing infrastructure and data engineering staff serve as the best possible example. Companies, more than ever, now rely on the data pipeline, which serves as the channel for data insight.

The breach of data pipelines, whether deliberate or unintentional, can result in non-compliance, lost revenue, and reputational harm. Businesses will invest more heavily in privacy measures to process data without disclosing it.

Zero Trust Use Cases

zero trust use cases

Zero trust has always been a highly robust solution to avert cyber attacks. While all the companies can employ Zero trust software and benefit from it, you must integrate it into your business immediately if your infrastructure deployment model includes:

  • Traditional/Legacy systems
  • Multi-cloud
  • Unmanaged devices
  • Massive Customer data
  • SaaS apps

With Zero Trust Security, You Can Address Key Threats

Cyber attacks– These can occur when there are unmanaged devices, remote working, data exchange through various resources, phishing mails

Ransomware – threats and attacks causing compromised identity, code execution, and massive data loss

Insider threats – Analysis of behavioral analytics for remote users is particularly difficult.

Get the SVAM Support & Protect Yourself Today

For a successful Zero Trust model to be realized, micro-segmentation technologies and Zero Trust Network Access (ZTNA) are essential technical foundations.

Why? Because businesses should effectively react to the changing cyber realities of today. Organizations must now prepare for the inevitable and analyze the risk rather than just planning for the possibility of a cybersecurity catastrophe.

We, at SVAM International, have more than 30 years of combined experience defending companies against such attacks and averting any loss of data, operational capability, or infrastructure.

We have recently partnered with Tanium, a leading cybersecurity provider, to make our solutions better and provide an enhanced experience for the companies.

By developing strong security solutions based on cutting-edge digital technologies, SVAM International has been able to stop multiple security breaches. Get in touch with us today to learn more about the Zero Trust software.

witness increased productivity in healthcare industry through rpa digital transformation

Every day hospitals and medical offices are inundated with patients requiring immediate medical attention. As a result, healthcare employees have become overburdened with administrative tasks concerning insurance claims, patient record & data management, insurance claims, appointment scheduling, and post-discharge instructions – this is where the RPA in the healthcare industry comes into play.

Business process automation in healthcare is an advanced digital technology capable of mimicking & replacing human interaction among multiple computer systems & applications by facilitating tasks related to third-party communications, data management, interface usage, form execution, and file transfer.

In this blog, we discuss the application of RPA in healthcare, and how it can be used as an optimal business management tool for medical practitioners.

What is Robotic Process Automation (RPA)?

Robotic Process Automation, or RPA, refers to the development & use of customized software robots to automate rule-based workplace tasks that are repetitive, time-consuming, and high-volume.

Using RPA in the healthcare industry to automate human tasks results in:

  • Increased productivity with employees better able to focus on more strategic tasks;
  • Increased efficiency as robots perform tasks faster and at higher volumes than humans;
  • Minimal human error since workplace actions are executed by a robot instead of a person;
  • Reduced costs with the price of RPA software is merely a fraction of what healthcare providers pay employees for conducting the same activities slower and less efficiently; and
  • Increased employee morale who are no longer required to labor over tedious and monotonous tasks.

Gartner estimates that by 2024, organizations will lower operational costs by 30% by combining automation with operational processes. Additionally, markets and markets say that the Robotic Process Automation (RPA) Market is estimated to reach USD 2,467.0 million by 2022, at a CAGR of 30.14%. This includes the use of RPA in HR, healthcare, supply chains, retail stores, and more.

How is Business Process Automation in Healthcare Beneficial?

Studies estimate that the Healthcare industry collectively spends a stunning $2.1 billion each year on manual tasks, including those related to data management alone.

By using robotic process automation for medical billing or for automating office processes, like data management, time-consuming employee tasks are instead completed by robots in a more efficient, reliable manner, and with reduced human error. This enables doctors, nurses, and healthcare staff to focus on patient care rather than paperwork.

As many healthcare office processes are rule-based, time-consuming, and high-volume, they are perfectly suited for RPA, including the following:

1. Patient Records & Data

A survey conducted in 2021 found that 67% of healthcare organizations heavily rely on paper documents, which include patient records & data management, a prime candidate for digital transformation.

Computer networks & systems in the healthcare industry process massive amounts of patient information and health data from various internal and external sources, including third-party portals, insurance companies, and health record databases. Burdening useful resources with the paperwork associated with managing data can not only hamper productivity but is unnecessary.

For example, RPA can be used to directly process patient records throughout a patient’s care and save all data relevant to him or her. Hospital staff is then able to extract all pertinent information and enter it into digital systems within a matter of minutes rather than hours, thereby improving efficiency and leveraging the benefits of automation for patient care. Automation can also be used to generate reports and offer insights to track the health conditions of patients and develop customized treatment plans for individual patients.

As a result, the use of RPA in the healthcare industry can process patient records & data with greater accuracy, at a faster pace, with enhanced security, and more consistently.

2. Billing

Medical billing and settlement of health payments processing are not only highly-repetitive and time-consuming but also error-prone when inputting, processing, and evaluations are done manually.

RPA can be used to develop a robot that automates the invoicing and billing processes in line with services offered as follows:

First, an RPA bot recognizes payment details using optical character recognition (OCR), then logs into the accounting system and inputs data into the relevant system’s fields. Once the invoice is created and registered into the system, the bot emails it to a patient. If there’s a delay in payment, the bot can send a customized reminder to the patient and create an attendance report with the current payment status for a finance manager.

The application of RPA in healthcare will streamline the settlement of health payments, processing of invoices, and management bills that are completed faster, with greater accuracy, and in a manner that reduces inaccuracies.

3. Claims Management

Claims management responsibilities of healthcare providers include processes such as data input, processing, evaluation, and dealing with appeals. The entire process, when handled manually or using generic software often proves to be highly inefficient and error-prone. The complexities of processing medical claims alone have created an industry now worth roughly $4.6 billion. More than 30-40% of health insurance claims are denied because of non-compliance with regulations.

RPA can be used effectively in the healthcare automation market to manage claims processing, reimbursements, referrals, and settlements with insurance providers. Bots can automatically populate insurance claims fields, prepare the claim, and finally claim to file.

Based on present use cases, it takes 12 seconds for an RPA solution to check the status of a health insurance claim compared to 85 seconds for a human, meaning that one robot could do the work of 9 full-time employees without error.

4. Scheduling and Managing Appointments

Appointment scheduling and management is a repetitive and time-consuming task faced by healthcare support staff daily. Whenever a patient wants to book an appointment, personnel are required to communicate directly with that patient to determine physician availability, change appointment times or locations, call for reminders, inform patients of cancellations, and reschedule bookings.

Implementation of RPA in the healthcare industry can instead be used to interact with patients by phone or email directly and enable them to manage appointments without interaction from medical staff. RPA bots offer appointment slots to a patient according to their needs and schedule according to doctor availability. Once the patient has booked an appointment, the bot schedules it in the database and removes that appointment slot. Bots can manage large volumes of appointments and send reminders faster and with better accuracy.

5. Post-Treatment Care

Typically, after patients are discharged from a hospital, they are expected to follow strict healthcare instructions, whether it be for medication, physical therapy, or meal plans. However, it’s often likely for the patient to forget or otherwise fail to comply with the post-discharge regimens properly.

In such cases, business process automation in healthcare can be used to manage post-discharge care and allow patients to confidently recover, after leaving a health facility. For example, RPA may be used to send reminders to patients about important actions such as taking medication, doing exercise, or following a meal plan. It can also assist patients when measuring vital signs, such as blood pressure, and then inform healthcare professionals of any problems or issues.

SVAM, International Inc. – Leader in RPA Technologies

By automating routine tasks in the healthcare industry, robots can be used as a digital workforce to fill in forms, manage reports, communicate with patients, and transfer patient records & data across various systems and interfaces.

SVAM International, a global leader in RPA technologies, can help you discover the power of RPA automation by assessing your company’s readiness, developing a prototype, and finally deploying an RPA robot customized to your internal system.

Implementing RPA makes healthcare IT systems more efficient, reduces costs, minimizes human error, and in a manner that provides a higher quality patient experience overall.

how rpa can transform supply chain management

Supply chain management (SME) refers to the path of a commercial product from its inception (or creation) to sale. Every business with a SME component has a compelling interest to minimize cost and time when offering a product for sale in the marketplace. To obtain a competitive edge, some companies have begun to implement Robotic Process Automation in supply chain as an effective way of reducing cost and time.

Specifically, RPA in the realm of SME has the potential of automatically extracting sales order data from all order types and eliminate data entry errors by automating major order processing steps and managing complex roles.

RPA technologies are still relatively new and many SME companies have no idea of its benefits. Thus, if you are unaware or are even vaguely aware of how RPA in supply chain can transform the supply chain, this blog is for you.

RPA History

RPA is the new buzzword in the IT sector. Regarded as one of the most powerful technologies that promises to change the future, integration of RPA in business is changing the manner from which organizations are streamlining the processes.

Previously, implementing RPA technologies was specific to IT companies, but over the past decade, its landscape has grown to include the retail sector, healthcare organizations, and supply chain management.

Robotic process automation is a modern technology that allows companies to automate complex and repetitive tasks. Software bots are programmed to carry out specific tasks to streamline the activities that take up the major chunk of the time of human workforce and reduce manual errors.

According to Gartner, the use of RPA in the U.S. increased 19.5% from 2021 to 2022. This is evidence that the popularity of RPA is growing with each passing year, in every sector, and is expected to catalyze in 2023.

Now that you have an idea about RPA, let’s discuss the key benefits of robotic process automation in supply chain.

Benefits of RPA

RPA is implemented in SME to help automate complex processes, eliminate errors, increase proficiency, and reduce the turnaround time. Since supply chain is an industry that is fueled by speed and accuracy, RPA is a technology that can deliver the same.

With the RPA the supply chain can increase operational efficiency and increase productivity thereby giving them an added advantage over the clients.

Apart from streamlining the processes, there are various advantages of integrating RPA in supply chain. Here are some of the key benefits

  1. RPA can help you cut back on the manual work as it can automatically undertake these tasks increasing the efficacy.
  2. One-time RPA implementation can help in cost cutting as more automation means less workforce which ultimately leads to fewer people required for the job. Thus, lesser payouts.
  3. There is a slight chance of error in data management as everything is undertaken by the automation software. Whereas there are always chances of error in human-led jobs, a well-programmed robot doesn’t leave room for any mistakes.

Well, advantages are obvious, but understanding the use cases is an important part of discussion of RPA in supply chain. Let’s zero in on the significant use cases

Use Cases of RPA in Supply Chain

Here is a rundown of the most important RPA use cases for the supply chain and associated factors:

1. Order Management

This is a priority task of any supply chain. Depending on the size of the company, thousands of requests must be processed and checked everyday before delivery and receipt processing. However, doing this physically can engage a lot of workforce, which will eventually lead to people shifting their focus from the important tasks.

However, by integrating RPA in supply chain, the entire order management process can be automated. RPA can also be developed and implemented to identify errors and warn authorized personnel when necessary. The RPA bots are so efficient that the errors only happen for only a fraction of orders.

2. Stock & Inventory management

Since it is a supply chain, there are always stocks to check and inventory to manage. Traditionally, these stocks have been checked by people, which has led to common human errors and a waste of productive man hours.

Since the entire process requires a lot of information, robotic process automation in supply chain and operations can screen the inventory, stock, amount of the items, send a warning and even request new items when required. Thus, maintaining the inventory at all times.

By monitoring the stock from time to time, these robots can improve the entire stock management process.

3. Receipt management

Data and orders yield receipts that require high-volume management and entry, making it perfect for automation. Intelligent automation software can easily process receipt reports from providers making the entire receipt management process fast and error-free.

4. Customer and People Management

The entire supply chain deals with numerous people at every point. These people are not only customers as end users but are also the people working in the internal processes of the supply chain, including suppliers, manufacturers, distributors, and vendors.

Since customers and personnel management is an important part of every business and industry, there must be a process that deals with the account of automation, messages and notices can be sent to them during the entire process.

As for the process pertaining only to the customers, RPA can manage everything right from the time the request is processed, delivered, or canceled.

To summarize, robotic process automation in supply chain can operate smoothly while providing a superior client experience in the supply chain and operation industries.

5. Data Management

There is high-volume data coming in from various channels in the supply chain. Due to the large amount of information and data that the firms handle, the data management duties can be time-consuming and boring. Processes like these are ideal for automation.

RPA routines the tasks like data validation, data entry, management and reviewing freeing up the resources to be more productive and undertake the jobs that require human intervention.

6. Planning Supply and Demand

One of the core jobs of supply chain is planning the supply and demand. These jobs are exceptionally vast and require a large number of human laborers, which leads to common human errors. The planning requires going through the reports at large for getting information from the market, providers, clients, and the organization.

Using RPA in the supply chain can carry out these tasks quicker and without errors. When integrated with the help of professional RPA solutions providers, the automation software can do tasks like reporting which will offer organized information that is easily accessible.

7. Produce Important Process Data

If you own the supply chain, you must be in charge of all the data. These intelligent automation robots can help you gather precise information regarding process efficacy, loopholes, gaps in the process, and knowledge regarding areas that need repair.

These gaps can be bridged using the automation software resources, and deliver the capabilities that can only be brought by intelligent automation.

8. Easy Automation

Automation is the need of the hour. May it be for the start-up businesses, medium sized businesses, or even the large ones, intelligent automation has the capability to drive excellent growth. While on the other hand, legacy systems may be a hindrance in the growth that is needed to outperform the competitors in this digitally driven world. Infact, according to Kommandotech, 57% of organizations want to use automation to boost employee productivity and performance.

What’s the best part? You don’t really have to replace your legacy system to implement RPA technologies, as those built on no-code platforms can work efficiently the same way. In fact, because legacy software has been designed to emulate human user activities like clicks, it is usually easier to educate robots to utilize it.

9. Quick Financing

One of the most famous and looked-upon forms of automation in a company may be RPA in accounting and finance. Robots have the potential to reduce pressure since departments require reliable data and are familiar with the difficulties associated with maintaining accounting procedures in high-volume firms.

Future of Robotic Process Automation in Supply Chain

The RPA solutions and applications will frequently include aspects of intelligent automation including artificial intelligence and machine learning. Since these are the technologies of the future, it is obvious that they are here to stay and so is RPA. When it comes to RPA in the supply chain, the usage is only set to grow as the supply chain will continuously want to improve their operations.

In this future, the objective is to reduce human decision-making altogether.

However, some would consider it as an ill-effect of automation as it may lead to lesser work force requirement, while others say that RPA will help them work in a better way. In a study by KommandoTech, almost 70% of employees agree that automation will allow them to qualify for higher-paying jobs.

Based on the conflicting facts, we can say that this technology suits the future requirements brought by digitization.

The supply chain runs on highly complex and high-volume data. Apart from the data, there are multiple monotonous tasks that can be automated and are currently taking up the workforce allowing the human labor force to focus on more important tasks for the organization. If you are considering joining the bandwagon of automation, now is an excellent time to consider the same and leverage the benefits of RPA in supply chain.

SVAM International Inc.

With the subject matter experts at SVAM International, you can integrate intelligent automation solutions into your business and enjoy the benefits of automation. We can help you define the RPA integration strategies, and the right RPA tool, and train the employees with RPA to ensure streamlined and smooth processes.

SVAM is on the way to use RPA in tandem with AI to increase the potential abilities of automation. In the future, we aim to deliver maximum performance with the intelligent automation solutions.

Implementation of RPA processes is vital and decides how the RPA will work in the future with the systems. If the implementation is not proper, there are chances that the automation might fail. Thus, the implementation must be done properly and by following the correct protocol.

1. Identification of a process

Determining the procedures that will gain from RPA implementation. This means looking at the current processes and figuring out which ones are time consuming, have chances of error and are repetitive enough to be automated.

2. Possibility and Method

Once the processes are identified, it’s also important to determine whether the selected processes are feasible enough to automate, fit to the technical demands and have complexity just precisely to fit to the automation.

3. Planning and Strategizing

After the process determination and possible assessment, it is time to create a strategy for carrying out the process. This includes determining the project’s goals, timing, budget, and resource as well as its scope.

4. Choosing Equipment and Technology

With such a variety of tools on the market, it is crucial to select those most appropriate that best meets the demands and specifications of the organization.

5. Training in Accordance with Flexibility

Automation is a fairly new technology and requires training. Thus, once implemented, employees are taught on proper usage of RPA in supply chain. This will ensure fail-proof ways of working with automation.

6. Testing and Deployment

Before the robotic process automation in supply chain is rolled out, the developed solution is tested to ensure intended performance.

7. Monitoring and Observability

Once the solution has been put into place, it is crucial to monitor it and make any necessary tweaks to make sure it functions well to suit your company. Additionally, it’s critical to regularly update the software to retain its efficacy.

The Bottomline

The supply chain runs on highly complex and high-volume data. Apart from the data, there are multiple monotonous tasks that can be automated and are currently taking up the workforce allowing the human labor force to focus on more important tasks for the organization. If you are considering joining the bandwagon of automation, now is an excellent time to consider the same and leverage the benefits of RPA in the supply chain.

To know more about our RPA services and solutions, get in touch with us today.

Robotic Process Automation in the Healthcare Industry
Every day hospitals and medical offices are inundated with patients requiring immediate medical attention. As a result, healthcare employees have become overburdened with administrative tasks concerning insurance claims, patient record & data management, insurance claims, appointment scheduling, and post-discharge instructions.

Robotic Process Automation, or RPA, is an advanced digital technology capable of mimicking & replacing human interaction among multiple computer systems & applications by facilitating tasks related to third-party communications, data management, interface usage, form execution, and file transfer.

In this blog, we discuss the application of RPA to the healthcare industry, and how it can be used as an optimal business management tool for medical practitioners.

What is Robotic Process Automation (RPA)?

Robotic Process Automation, or RPA, refers to the development & use of customized software robots to automate rule-based workplace tasks that are repetitive, time-consuming, and high-volume.

Using digital robots to automate human tasks results in:

  • Increased productivity with employees better able to focus on more strategic tasks;
  • Increased efficiency as robots perform tasks faster and at higher volumes than humans;
  • Minimal human error since workplace actions are executed by a robot instead of a person;
  • Reduced costs with the price of RPA software is merely a fraction of what healthcare providers pay employees for conducting the same activities slower and less efficiently; and
  • Increased employee morale who are no longer required to labor over tedious and monotonous tasks.

Gartner estimates that by 2024, organizations will lower operational costs by 30% by combining automation with operational processes. Additionally, markets and markets say that the Robotic Process Automation (RPA) Market is estimated to reach USD 2,467.0 million by 2022, at a CAGR of 30.14%.

How RPA Can Benefit the Healthcare Industry

Studies estimate that the Healthcare industry collectively spends a stunning $2.1 billion each year on manual tasks, including those related to data management alone.

By using RPA to automate office processes, like data management, time-consuming employee tasks are instead completed by robots in a more efficient, reliable manner, and with reduced human error. This enables doctors, nurses, and healthcare staff better able to focus on patient care rather than paperwork.

As many healthcare office processes are rule-based, time-consuming, and high-volume, they are perfectly suited for RPA, including the following:

1. Patient Records & Data

A survey conducted in 2021 found that 67% of healthcare organizations heavily rely on paper documents, which includes patient records & data management a prime candidate for digital transformation.

Computer networks & systems in the healthcare industry process massive amounts of patient information and health data from various internal and external sources, including third-party portals, insurance companies, and health record databases. Burdening useful resources with the paperwork associated with managing data can not only hamper productivity but is unnecessary.

For example, RPA can be used to directly process patient records throughout a patient’s care and save all data relevant to him or her. Hospital staff are then able to extract all pertinent information and enter it into digital systems within a matter of minutes rather than hours, thereby improving efficiency. Automation can also be used to generate reports and offer insights to track the health conditions of patients and develop a customized treatment plan for individual patients.

As a result, RPA can process patient records & data with greater accuracy, at a faster pace, with enhanced security, and more consistently.

2. Billing

Medical billing and settlement of health payments processing are not only highly-repetitive and time-consuming but also error-prone when inputting, processing, and evaluations are done manually.

RPA can be used to develop a robot that automates the invoicing and billing processes in line with services offered as follows:

First, an RPA bot recognizes payment details using optical character recognition (OCR), then it logs into the accounting system and inputs data into the relevant system’s fields. Once the invoice is created and registered into the system, the bot emails it to a patient. If there’s a delay in payment, the bot can send a customized reminder to the patient and create an attendance report with the current payment status for a finance manager.

By using RPA to streamline the settlement of health payments, processing invoices and managing bills are completed faster, with greater accuracy, and in a manner that reduces inaccuracies.

3. Claims Management

Claims management responsibilities of healthcare providers includes processes such as data input, processing, evaluation, and dealing with appeals. The entire process, when handled manually or using a generic software often proves to be highly inefficient and error-prone. The complexities of processing medical claims alone has created an industry now worth roughly $4.6 billion. More than 30-40% of health insurance claims are denied because of non-compliance of regulations.

RPA can be used to effectively manage claims processing, reimbursements, referrals, and settlements with insurance providers. Bots can automatically populate insurance claims fields, prepare the claim, and finally claim filing.

Based on present use cases, it takes 12 seconds for an RPA solution to check the status of a health insurance claim compared to 85 seconds for a human, meaning that one robot could do the work of 9 full time employees without error.

4. Scheduling and Managing appointments

Appointment scheduling and management is a repetitive and time-consuming task faced by healthcare support staff daily. Whenever a patient wants to book an appointment, personnel is required to communicate directly with that patient to determine physician availability, change appointment times or locations, call for reminders, inform patients of cancelations, and to reschedule bookings.

RPA can instead be used to interact with patients by phone or email directly and enable them to manage appointments without interaction from medical staff. RPA bots offer appointment slots to a patient according to their needs and schedule according to doctor availability. Once the patient has booked an appointment, the bot schedules it in the database and removes that appointment slot. Bots can manage large volume of appointments and send reminders faster and with better accuracy.

5. Post-Treatment Care

Typically, after patients are discharged from a hospital, they are expected to follow strict healthcare instructions, whether it be for medication, physical therapy, or meal plans. However, it’s often likely for the patient to forget or otherwise fail to comply with the post-discharge regimens properly.

Here, RPA can be used to manage post-discharge care and allow patients to confidently recover, after leaving a health facility. For example, RPA may be used to send reminders to patients about important actions such as taking medication, doing exercise, or following a meal plan. It can also assist patients when measuring vital signs, such as blood pressure, and then inform healthcare professionals of any problems or issues.

SVAM, International Inc. – Leader in RPA Technologies

By automating routine tasks in the healthcare industry, robots can be used as a digital workforce to fill in forms, manage reports, communicate with patients, and transfer patient records & data across various systems and interfaces.

SVAM, a global leader in RPA technologies, can help you discover the power of RPA automation by assessing your company’s readiness, developing a prototype, and finally deploying an RPA robot customized to your internal system.

Implementing RPA makes healthcare IT systems more efficient, reduces costs, minimizes human error, and in a manner that providers a higher quality patient experience overall.

how is rpa different from other enterprise automation tools

Robotic process automation and traditional automation lie on different sides of the bank. Both of these help achieve efficiency in delivering results within time. This kind of mechanism reduces human intervention and performs predefined activities according to the instructions. Both softwares are considered the biggest boost to the infrastructure and efficiency of programming functions. Not just this, RPA in HR is proving to be one of the most effective implications of automation.

By employing the right RPA tools, it becomes possible for the individual to automate the maximum activity in the management functions. But there is a huge amount of difference between the two concepts. The functioning of these two kinds of software can be differentiated based on the given information.

Differences Between The Two Kinds of Software

The various grounds of the meanings have been mentioned as follows:

Meaning and Function

Robotic process automation is a kind of software that helps to automate a high volume of repetitive tasks in a minimum amount of time. These kinds of tools allow the design of software robots to make them capable of automatically executing different types of tasks over time. All the RPA business processes can function effectively over time and when it comes to managing complete operations like bringing the RPA into the supply chain, the benefits are immense.

It is a kind of predefined activity that has finally executed different types of tasks and transactions for delivering effective results within time. Accordingly, the same result can be achieved without any human interaction. It is the utility that is obtained with the help of this process.

Traditional automation and enterprise automation are a kind of combination of different applications that help to achieve automatic integration at a database level. But the speed at which the given results can be obtained is very less, due to which it is a conventional method of automation only.

Requirements

Robotic process automation does not require any modification to the existing infrastructure and can be effectively adapted across any platform. But on the other hand, specific customization can be required in traditional and enterprise automation cases. RPA services companies do not require any adjustments, but enterprise automation requires adjustments to the existing structure to enhance the performance’s efficacy. For instance, if you wish to bring in robotic process automation in HR for your organization, you do not have to disturb any other process. But with the ERP, you have to alter the existing structure or the systems.

Functions

Robotic process automation helps to automate repetitive and different types of rule-based tasks. This kind of software performs the different actions performed by human beings to increase the efficiency of the programming. The entire programming is determined according to a flowchart without any change in the language codification.

But on the other hand, enterprise automation does not perform all the functions that human beings can perform without instructions. Even the pre-defined instructions cannot be followed properly. In such a situation, it is essential to note that interface automation may not be a good process in the long run and requires a lot of programming to achieve a given objective. On the other hand, implementing RPA in areas like robotic process automation in the supply chain can be done easily.

Kickstarting The Process of Automation

All the activities related to RPA for small businesses can be easily performed without knowing any programming. It is a quick implementation method that requires less time to get the desired results compared to the enterprise automated software, which usually takes a lot of time in this process. It usually takes a lot of months to get implemented because designing and integrating instructions are difficult tasks in this kind of software.

Alignment of Work

The robotic automation process helps to delegate the work to thousands of machines which makes it significantly different from ERP. It is essential to gain the desired programming functionality so that the same function can be performed in less time compared to the other situation of interface automation, which usually takes a lot of time to get scalability.

A kind of parallel execution is required in this process. It has got the capability of performing the best functions related to customized management. But in the long run, only robotic programming automation can be configured to meet the needs of the user immediately compared to interface automation, which usually has a lot of limitations related to the functioning of API and other complex technology employed.

Conclusion

The aforesaid is one of the most useful and effective ways with the help of which automation can be used in any organization. Understanding the differences between RPA and other enterprise automation tools helps to choose the required services from SVAM International.

This is helpful in the long run to get the required services over time. It brings the maximum amount of efficiency that deals with the timely completion of tasks and effective programming of functions. Get in touch with us today to know more about our RPA and ERP services.

The Covid-19 crisis made businesses realize how essential automation is for business and agility. The Covid situation challenged the inefficiencies of the traditional business models that rely on manual operations. The global robotic process automation (RPA) market is expected to grow more than 13 billion U.S dollars by 2030 (Source: Statista). Robotic process automation (RPA) is enabling businesses across the world to reduce costs, improve operational efficiency, providecustomer satisfaction, and more.Robotic process automation has witnessed exponential growth over the past two years. The latest market trends show that RPA will dominate in 2022 and continue to do so in the coming years. According to Gartner’s prediction, 90% of the prominent organizations globally will adopt RPA in some form by 2022 for scaling up their businesses. RPA will play a key role in improving the process quality, speed, productivity, etc., in companies.Here are a few Robotic Process Automation trends and predictions in 2022One of the main reasons for deploying robotic process automation technology is, it reduces time, effort, and cost to execute time-consuming and repetitive tasks. With robotic process automation (RPA), businesses can save time and generate higher ROI. Moreover, RPA can also safeguard businesses from future crises like the Covid-19 pandemic.Because of Robotic Process Automation, there is a massive digital transformation in HR, banking services, financial services, and many more businesses. RPA is one of the rapidly-growing technologies in the world. According to Grandview Research, the service sector accounted for the highest share of 61% and it is expected to grow at the highest CAGR from 2021 to 2028. Let’s look at the trends and predictions for RPA in 2022.
  • Adopting RPA centers of excellence (CoE) will be prevalent as they will standardize RPA by reducing maintenance, bot faults, etc.
  • With the advancing technologies, RPA bots can benefit from other developing technologies like artificial intelligence.
  • By 2022 RPA will incorporate artificial intelligence (AI) and machine learning techniques.
  • Automation acquisitions rise in 2021 will continue their pace in 2022 and beyond.
  • The RPA industry is booming faster and will grow tremendously in 2022. RPA bots and artificial intelligence solutions have grown past few years. And it is predicted to grow in 2022, where companies can drive higher benefits from automated planning and delivery.
As mentioned above, the trends show RPA will dominate in 2022. And we at SVAM will help you make the most of RPA and thrive through these challenging times. You can be part of changing the business world with the help of our RPA solutions. With the best RPA practices, we will help you build a sustainable business and take it to new heights.

Automation is only set to catalyse in 2023. The buzz around ChatGPT and the AI is an evidence that the only way ahead for your business is automating it. Along with the AI is also a powerful technology, RPA that is creating a hype amidst big and medium sized companies.

Robotic process automation is software (robots or bots) that performs various tasks to help automate the process and reduce expenses. The robotic process automation (RPA) market is growing exponentially worldwide.

Robotic process automation use cases are exploding in various industries and in businesses areas like using in RPA in the HR department, for calculating finances, creating innumerable new opportunities. The onset of 2023 brought the evolution of RPA trends. The time has come to reap the benefits of investing in digital transformations.

RPA is a result-driven technology entering the phase of maturity and delivering results. It is time to automate the tedious processes and spend time on more crucial things. Here, in the blog, we will uncover the latest trends in RPA that will dominate in 2023.

RPA Trends That Will Attract Your Attention in 2023

The key reasons businesses are adopting and implementing RPA (Robotic Process Automation) are its ability to transform the company, save time, labour, and money. It can speed up the processes, reduce errors and increase productivity. The impact of the pandemic has boosted the implementation of RPA.

Robotic Process Automation in Supply Chain

With the increased RPA capabilities integrating it with other technologies in supply chain will increase the overall performance and productivity. There are remarkable outcomes to look forward to with the integration of RPA in supply chain along with other tools and technologies.

RPA Will take Over Enterprise Resource Planning (ERP)

The ERP and traditional systems in businesses encounter the problem of catching up with the frequency of the digital transformation. Manual data entry into ERP is a tedious task. ERP will undergo a massive change, with RPA playing a crucial role. With RPA, employees can automate repetitive tasks and business processes. In some cases, they can record the processes through automatic code generation and create a software bot.

RPA Will Pave Way for More Innovation

The companies and businesses that initially adopt RPA will gain a competitive edge. The companies that create and design frameworks to execute the system will make the most of the automation programs. This approach of the organizations will pave the way for more innovations.

RPA and Artificial Intelligence to Empower Processes

When RPA and artificial intelligence come together, they empower process automation and impactful digital transformations. Organizations can reach extreme possibilities by combining the RPA with AI to deal with anything. Cognitive bots learn from the data and make decisions, thus becoming a vital part of your team.

Small and Medium Enterprises Adopting RPA

The impact of the Covid 19 pandemic made the SMEs realize the importance of automating processes. They have understood how crucial it is to adopt automation to take competitive advantage and bounce back from a sudden disaster. Now they are adopting RPA at a much faster rate than expected. They are on the way to working more efficiently by automating their processes.

RPA in Human Resources

Robotic Process Automation in HR departments of companies to automate repetitive, mundane tasks through the use of software bots. In the human resources department, RPA can be used to automate a variety of tasks such as data entry management, employee recruitment, administration benefits, employee onboarding and more.

Conclusion

The advancements made by the RPA industry are shining brighter. That is why it is expected that 2023 will prove to be a game-changer for RPA specially in the business and supply chains. Robotic process automation is adding new possibilities in the business world. Automation will be the core necessity of every organization in the coming years and a must-have technology.

SVAM International Inc. has helped clients automate their process with intelligent automation solutions that can help us bridge the gap between AI and business growth. Get the RPA solutions that promise productivity at par with the expectations.

RPA is an advanced, futuristic, and the most efficient technology that automates and streamlines the processes in a healthcare facility. In this blog, we will discuss some amazing ways of using RPA in healthcare.

The pandemic and the post-pandemic era have brought a wave of changes. It will be remembered as the pivotal point of change where all the industries revamped their way of functioning. Millions have turned their heads towards automation for effective and easier ways of working including the RPA applications in healthcare.

Healthcare organizations have been spearheading this transformation by producing vaccines at a rate never seen before. All this has been possible through the RPA use in healthcare that provided robust support throughout the processes. Obviously, the hard efforts cannot go unnoticed, but automation has played a vital role in transforming RPA use in healthcare.

Gartner estimates that by 2024, organizations will lower operational costs by 30% by combining automation with operational processes. Additionally, markets and markets say that the Robotic Process Automation (RPA) Market is estimated to reach USD 2,467.0 million by 2022, at a CAGR of 30.14%.

The RPA applications in healthcare are not only limited to robots, but its role goes beyond that. This blog outlines how automation can boost the healthcare industry and help them stay ahead of the curve in this competitive age.

What is RPA?

RPA is a software technology that builds, deploys, and manages software that mimics human actions while interacting with a digital system. The RPA systems can identify human actions like understanding screen movements, updating records, saving files, and more. It acts as a virtual worker that works effectively and frees up human resources. Using robots also eliminates the possibility of errors and minimizes the struggle with paperwork.

How Has RPA Emerged As a Core Feature in Healthcare?

When the hospitals are overburdened with cases that need immediate attention, action is required – fast. With the nurses and human resources being busy with saving lives, someone (or something) is needed to manage all the back-end tasks.

In such scenarios, RPA management makes a huge difference where it really mattered. The automation processes and management system kept the workers on the front line, reduced the waiting time, recruited experts, and supported procurement. All these factors can surely help the healthcare systems reform in the future.

Benefits of RPA in Healthcare

1. Scheduling and Managing Appointments

In a hospital scenario, scheduling patient appointments and managing them is one of the most tedious tasks. They are repetitive and involve resources as well.

Healthcare organizations can benefit from automating these tasks using RPA bots and other processes. These processes can interact with the patients, give them solutions for the query, schedule, change, or update appointments as required.

2. Managing Data and Records

The healthcare industry deals with a massive amount of data on a daily basis. Burdening useful resources with the paperwork of managing data can hamper the productivity of the resource. It helps regulate and maintain the record, RPA use in healthcare offers accuracy, quick response, data security, and consistency. Robotic software can also be customized to comply with the protocols and rules set by the government of the organization.

3. Reducing Administrative Costs

The healthcare sector is one of the biggest employers which also raises the cost of the company. The employee welfare funds, salaries, and other incentives can be a burden. With RPA software in place, the organization or hospitals can reduce employee requirements and cut down on administration cost by automating repetitive manual tasks.

4. Enhancing the Patient Experience

Being a robot-based software with the capabilities of quick decision-making, RPA management can provide more consistent care. Because of accurate decisions, quick replies, reduced costs, and greater visibility across the entire patient record, RPA can provide a better patient experience than any human.

5. Infection Control and Maintenance

Infection control protocols are a basic necessity of every healthcare unit. RPA can be used for executing quick and monitored infection control protocols. Including

  • Screening of the patients by including regulatory compliance and CDC protocols
  • Managing priority tasks and setting up the sequence of actions
  • Tracking patient care plans and sending alerts to the authorized staff based on patient data thresholds
  • Regulating the cleaning schedules and maintaining the records

6. Claims Management:

Reimbursement, cashless facilities, and claim settlements are a part of everyday work in a healthcare organization. With the help of RPA and AI healthcare can effectively manage claims processing. The process includes acceptance, communication, resubmission, and cost predictions based on history.

Invest Use of RPA in Healthcare for Organization Growth

Gartner estimates that by the end of 2022, 85 percent of organizations will deploy RPA software and the healthcare industry can benefit from RPA the most. The efficacy and uses of the RPA are worth the investment and can help your organization.

SVAM International can help you discover the power of automation with our RPA solutions that aim to grow your business by blending RPA with AI and ML. Our subject matter experts assess your company’s readiness, develop a prototype, and finally build and assemble the RPA to your system.

Over the last few months, the ongoing conflicts between nations may have stirred up peoples’ concerns about the outbreak of another world war. World War III may have already begun unfolding in cyber warfare across cyberspace.

The advancement of the internet and modern technologies is a double-edged sword. In the current digital era, the internet has become an inseparable part of societies and human lives as a new communication space. As we become more connected with cyberspace and more dependent on digital technologies, we face greater exposure to cyber risk and the need for cyber security consulting goes without a question.

Cybersecurity threats such as malware, phishing, hacking, data leakage, and identity fraud are not rare cases; however, many people and businesses tend to handle cybersecurity threats passively rather than taking proactive and preventive steps.

News Corp., the world’s largest news agency that owns the Wall Street Journal and the New York Post, has encountered significant data breach incidents since February 2020, with a lot of confidential and sensitive information accessed by anonymous third parties. In March, a U.S. software company HubSpot, with 135,000+ cryptocurrency customers across more than 120 countries, was targeted by cyber attackers an employee’s account was compromised, and customer data was exfiltrated.

According to a February report, at least 25% of companies fell victim to cyber-attacks in Canada last year. The cost of cybercrimes reached $2.7 billion in 2020, based on the FBI’s Internet Crime Report. It reached around USD 6.9 billion in 2021.

The data breach events in Q1 represented twice the increase over the same time in 2021 and is another indicator that data compromises will continue to rise in 2022 after setting an all-time high in 2021. While system & Human Errors represent 8% of the Q1 2022 data compromises, 154 out of 367 data breach notices did not include the cause of the breach, making “unknown” the largest attack vector in Q1 2022. The Federal Government has released a mandate urging companies across the nation to bolster their cybersecurity practices, preventing potential cyber threats.

Apart from data loss, cybercrimes cause a financial drain on company assets. If it were measured as a country, then cyberattacks were predicted to inflict damages totaling $6 trillion USD globally in 2021. The 2022 predictions say that the number of DDoS attacks (attacks disrupting online services or systems) is expected to reach 14.5 million.

Notably, as per the estimates, the cost will rise to $ 10.5 trillion by 2025 globally.

Cyber-attacks are a growing threat to small and medium-sized businesses in the private sector. Small-medium-sized companies become attractive targets as their system and information can be breached quickly, providing lucrative incentives to cyber criminals. They tend to be more vulnerable since many companies lack a safer security infrastructure or a comprehensive cyber strategy. This is where SVAM’s professional cybersecurity services can come into play.

SVAM International is an experienced cybersecurity service provider with more than 30 years of cybersecurity and risk management expertise. With keen insights into existing, and potential cyber risk and its trends, SVAM has helped businesses in the private sector take effective and efficient moves in handling cyber threats, minimizing loss, and strengthening cybersecurity infrastructures. To avert cyberattacks and reinforce cybersecurity, SVAM urges companies to raise their awareness of potential cyber risks and take preventive measures accordingly.

Crucial Things Private Sectors Can Do to Stay Cyber-safer

For the companies unaware or the ones who are vaguely aware of how to be cyber-safe, cybersecurity consulting services are the need of the hour. Here are a few things that you can do to keep your company and employees safe in the absence of cybersecurity software.

1. Incorporate Multi-Factor Authentication (MFA)

Multi-factor Authentication (MFA) adds an extra layer of security by requiring users to implement and provide multiple forms of identification. Incorporating MFA into business operations can deliver a stronger authentication for accessing data, apps, and systems while still keeping things simple for users.

2. Install reliable Antivirus Programs, Firewalls, VPNs

The proliferation of malware has resulted in more significant cyber threats among businesses worldwide. As a malware attack is a widespread cyberattack, installing a reliable and effective antivirus program is an essential step of cybersecurity reinforcement. Based on the concrete needs of the business, sometimes, patching firewalls and VPNs is also a crucial move. Firewalls can prevent malicious attacks from entering users’ systems based on users’ settings, while VPNs can better protect private data and sensitive data like locations.

3. Establish Access Controls based on the least privilege principle

Access control is a security technique that establishes access hierarchy and regulates access control to critical resources within the organization. A data breach is one of the major concerns and may lead to irreversible loss once it happens; having an access-control list with correct permissions set up is critical for businesses to reduce the impact of a breach. You can set it up with the help of cyber security consulting services from SVAM.

4. Encrypt Sensitive Data and Back-Up Business Data Regularly

Data encryption enhances the security of private information, communication, and correspondence by transforming original information into something more challenging to decipher using specific algorithms. In the worst-case scenario, encrypted data will be challenging to decrypt without having the correct keys if the information breach has occurred.

Regularly back up critical and transactional to the cloud or a reliable external hard drive/data storage. If the company system gets compromised or data gets contaminated, having safe backups may reduce the potential loss of the business.

5. Conduct Awareness Education and Training against Phishing, Fraud, etc.

To establish a safer cybersecurity infrastructure across the company with the help of cybersecurity consulting services. It is also essential to boost employees’ cybersecurity awareness through conducting awareness education and related training courses. Regularly training employees to identify identity/account fraud and phishing activities can help mitigate cyber risks in each employee’s work activities and reduce the overall risks in business operations.

How SVAM Can Protect You Further?

Cybersecurity consultants at SVAM can provide businesses with in-depth cyber risk assessment, comprehensive cyber risk quantification, proactive cyber strategy, and customized cybersecurity solutions. The tailor-fit solutions designed by SVAM can capture and relieve cyber security pain points of your business based on your risk profiles and assessment accordingly. By adopting the latest technologies from artificial intelligence and data science, SVAM Cybersecurity is also proficient with cyber risk quantification and risk modeling. With concrete data, visualizations, and predictions, SVAM enables businesses to take proactive and preventive steps, reducing the likelihood of cyber-attacks and exposure to cyber risk fundamentally and sustainably.

Safeguard Your Business with SVAM Today

SVAM Cybersecurity is dedicated to safeguarding more businesses across industries, managing cybersecurity risk, providing effective cybersecurity mitigation solutions, and reinforcing the overall cybersecurity infrastructure. Below are some featured services that SVAM Cybersecurity proficiently provides –

Cyber Risk Advisory

SVAM Cyber Risk Advisory includes designing and implementing a proper cybersecurity program that complies with leading cybersecurity standards and regulations and performs penetration testing, vulnerability scans, technical reviews, etc. A customized remediation roadmap will be designed and implemented based on a comprehensive identification and assessment process, just for you.

Cyber As A Service (CAAS)

With industry experts and skilled resources, SVAM Cyber As A Service (CSSA) focuses on reducing the complexity of reinforcing cybersecurity infrastructure at affordable subscription rates. Without going through complicated steps, you can start safeguarding your business by relying on professional cybersecurity practices from SVAM CSSA.

Will the evolution of the Internet of Things (IoT) result in greater cybersecurity threats? What should the business do to mitigate cybersecurity risks in remote working mode? You can consult a cybersecurity expert at SVAM to know more about how you can embark on securing your perimeter and protecting your crown jewels applications. SVAM also keeps close track of the latest cybersecurity trends and broadens service scopes accordingly.

Visit the SVAM international website to learn more about cybersecurity services. SVAM Cybersecurity is delighted to start safeguarding your business from now on!

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