The internet is widely regarded as a revolutionary technology but it was never perceived to be revolutionary from its birth or conceptualization. The internet, as we know it today, has evolved from being just a rudimentary idea some 100 years ago to become the information superhighway of the 21st century. Similarly, when we talk about revolution in business, it is not just about the product or the business model; it also touches how business processes are actually managed to make that product/service or the business model successful in an effective and efficient manner. A Smart Business Process Automation BOT (currently in development stage and based on Artificial Intelligence and Blockchain Technology) is being developed by Obizcoin to help startups and SMEs with business process management. In this article, we’ll try to cover some of the key features and capabilities of the Obizcoin Smart Process BOT. BOT Domain Expertise Having the domain knowledge and expertise is very important for a business enterprise to understand how business takes place in the concerned industry, how the supply chain works, what kind of infrastructure and resources (manpower, technological etc) is required, who are the stakeholders involved etc. The BOT will be powered with the domain knowledge of specific businesses, derived from YRC’s domain expertise and rich industry experience, to provide industry domain expert solutions. Business Process Management and Process Decisions The BOT will have inbuilt processes designed for different departments (Purchase, Sales etc) for different types of organizations (startups and SMEs) for different industries (E-commerce, apparel etc) in accordance with the domain knowledge and best industry practices. These processes can be customized by business enterprises according to their strategic and operational requirements. With the expert domain knowledge, the BOT will also help businesses in taking appropriate process decisions. Improvisation and Upgradation The knowledge pool of the BOT will keep on expanding with the addition of new business domain knowledge. With the aid of AI and Blockchain Technology, the BOT will be capable of improvising business processes. Perpetual upgradation in business intelligence will make the BOT smarter each day. BOT Smart Contracts and Reward System The BOT will be capable of preparing and executing smart contracts which will enable organizations to automate the definite and repetitive tasks whose terms and conditions of performance and output are predetermined. The use of smart contracts will also help organizations add more transparency and security to the business transactions and processes. Automation in performance rating and rewarding of the employees will also serve as a morale booster for the employees. BOT Audit System Process audits are very important for a business enterprise towards achieving business process excellence. Process audits of the organization will be conducted by the BOT to track and review processes and performances towards improvising the efficiency and effectiveness of the business processes. Operational Risk Score Analysis For improvisations in business processes and performances, it is very important for a business enterprise to first know the status of its operational health. It is only after determining the degree of process implementation, the measure of team performances, and the organization’s strengths and weaknesses can a business enterprise initiate corrective measures for process improvisations. Operational Risk Score Analysis will help startups and SMEs in this direction. Disclaimer: The above content/article is intended only to provide a general overview and is not to be used as a basis for the exercise of any business, professional or investment judgment/action. For detailed information, please visit the company’s website and carefully read all the necessary documents. , , , To read read more article related to this topic: Obizcoin: Entrepreneurs rejoice with this new technology based on AI & Blockchain, Obizcoin: Your Virtual CEO , Make your business processes SMART with Obizcoin BOT How Obizcoin BOT can help your Business Grow? Managing Business Efficiently using Smart Process BOT Obizcoins’ Technology: A boon to startup community Obizcoin will revolutionize the way of doing business! . Visit : Obizcoin.io
