RPA? BPA? IPA? What’s the Difference?

November 13, 2019

According to Indico CEO Tom Wilde, author of the accompanying article, “Beyond RPA: Why Insurers Need to Catch the IPA Wave,” RPA complements IPA.

But what exactly is IPA? How is it different from RPA? BPA.

Indico gives the lowdown in a blog item titled “RPA vs. IPA: Complementary, not Competitive.”

We excerpt some of the key points here.

Business Process Management

Robotic Process Automation

Intelligent Process Automation

Use Cases: RPA vs. IPA

RPA use cases include activities such as aggregating data for financial reports at the end of a quarter. If you know where the data is located, RPA can automate the gathering and aggregation process faster than a human.

In banking, RPA can automate the process of copying and pasting customer data from one banking system to the next.

In sales, RPA can update customer relationship management applications with data from Excel spreadsheet sales reports, relieving sales people of the copy/paste chore.

Intelligent automation tools can apply to use cases that involve document-based workflows.

In banking, IPA can be used in appraisals and mortgage approval processes to extract relevant unstructured data from onboarding documents and to analyze images.

In insurance, IPA solutions can quickly examine hundreds of claims and identify those that may indicate fraud.

For a discussion of more insurance use cases, read the accompanying article, “Beyond RPA: Why Insurers Need to Catch the IPA Wave.”

Source: Indico blog; McKinsey & Company