Companies are seeking new ways to remove complexity, automate tasks and provide insights from the data. This need is prompting a new category of technology described as Solo Enterprise Technology or “Solo ET.” Solo ET is an all-in-one technology system that blends automation, artificial intelligence (AI), and real-time analytics from a single point of engagement, to make life easier.
This article will break down the idea of Solo ET. We will identify its main components, where it differs from traditional enterprise software, and the potential benefits it can deliver. You will learn how this all-in-one way of thinking will change how companies operate and innovate.
What is Solo ET?
A Solo ET, is an integrated technology software platform that serves as the ‘central nervous system’ for how the business operates. Compared to traditional enterprise software stacks that utilize a variety of vendor (often disconnected) applications, a Solo ET system combines a few significant technology components built into one operating environment.
The primary purpose of a Solo ET platform is to mitigate data silos and/or inefficiencies in processing. It accomplishes this by ensuring smooth and continuous transitions of information throughout its core functionality: automation of repetitive tasks, AI analytics of the information to predict future outcomes, and real-time dashboards that provide awareness in the moment. In this way, it strives for a single platform that manages torturous processes so that organizations can be more agile, efficient, and intelligent.
The Core Components of Solo ET
A true Solo ET platform is defined by the powerful synergy of its integrated components. While specific features can vary, they are all built on three technological pillars.
1. Advanced Automation Engine
At its heart, a Solo ET system is a powerful automation engine. This involves much more than basic task automation.It utilizes Robotic Process Automation (RPA) to orchestrate workflows that perform complex, multi-step tasks that would otherwise require significant human labor.
As an example:
Data Entry and Migration – The automation of moving and validating data from one system to another for example, a CRM to a system to bill customers.
Customer Onboarding – Initiating a series of tasks when a new customer subscribes to the service such as building their account, sending welcome communications and assigning an onboarding representative.
Supply Chain Management and Tracking – Orchestrate order processing status, track shipment status and build based on real time sales for inventory purposes.
Performing the time intensive tasks on the Solo ET platform frees your employees up to focus on strategic initiatives, problem solving for customers and other high value engagements.
2. Embedded Artificial Intelligence (AI)
The intelligence layer of a Solo ET is powered by AI and machine learning. This attribute isn’t merely an adherence to a list of pre-determined calculations; it is learning, adapting, and predicting. The AI engine is constantly registering all of the data passing through the platform to extract patterns and provide insights that can be applied in real time.
Examples of these capabilities of AI could include predictions for what will happen within a future timeframe; like how much demand will be for a product by customers, or when a machine on the manufacturing line may fail.
Another example could be natural language processing (NLP) which could power intelligent chatbots to determine what expectations are being expressed by customers when they ask a question, or evaluating customer responses from emails or surveys to determine the customers’ sentiment.
– Anomaly Detection: To identify discrepancies in the data that might suggest that a security incident is occurring, or distinguish if a transaction has been fraudulent or if a bottleneck is occurring in the operation prior to it occurring.
This concept of embedded intelligence changes the platform from a simple workflow tool into a decision making partner.
3. Real-Time Analytics and Visualization
The third tenet is a powerful real-time analytics engine. Data analysis is a retrospective action in so many organizations, frequently producing reports on a weekly or monthly rotation. A Solo ET platform makes data analysis an event that is happening, in the moment. It is able to process events in the moment of generation and provide visualization through intuitive interactive dashboards.
This allows leaders to:
Observe Key Performance Indicators (KPIs) live.
Monitor the success of advertising and marketing campaigns during campaign execution.
Oversee factory production output second by second.
This immediacy enables organizations to be incredibly agile. A retail manager can adjust pricing during a flash sale based on live traffic, or a logistics coordinator can reroute shipments to avoid a sudden traffic delay, all based on data fed through the Solo ET dashboard.
How Solo ET Benefits Businesses
Implementing a cohesive platform like Solo ET can yield game-changing outcomes throughout an organization, generating measurable benefits related to efficiency, profitability, and overall customer satisfaction.
Increased Efficiency
The most immediate consequence will be better operational efficiency. By automating manual processes and/or tasks, employers will be able to decrease the probability that human error will compromise the task; and employees will suffice to complete it in significantly less than the time it would take without the automated assistance. Research shows at least 30% of processes and/or tasks in most businesses can be automated; and the potential productivity gains can be considerable. A Solo ET platform provides the framework for this opportunity.
- Cost Savings
Increased efficiency invariably leads to cost savings. For instance, any automation of certain processes will reduce labor costs simply because if you have automated it, you have reduced the amount of repetitive work someone was doing. In addition, predictive maintenance from the AI can help prevent unnecessary, costly equipment failures, and better logistics provides cost savings with less wasted space, and even inventory carrying cost. The consolidation of all of these applications into the same application can lower or even erase some of those additional costs of licensing or maintaining additional software applications.
- Improved Data-Informed Decisions
A Single ET system democratizes data by providing relevant insights and analytics to all the firm’s decision-makers. Instead of relying on gut feeling or stale reports, leaders can now make tactical decisions with regards to the business based on a live view of the business across time and history. Improved decision-making results in better resource allocation, smarter marketing spend, and better products/services.
- Enhanced Customer Experience
The functionalities of the app can enhance the customer experience. AI chatbots are able to support customers at any time of the day or night. They offer personalized marketing recommendations to engage customers, processing orders promptly to drive quicker delivery. Companies can also build a record of a customer’s experience and history to work proactively to satisfy their needs and make them loyal customers.
- Unmatched scalability and adaptability.
As a company grows, the complexity of its operation grows. A Single ET platform creates enormous operational efficiency and can scale as your business will inevitably add data and transactions without compromising performance. This agility allows a firm to react to market changes quickly, streamline the time to launch new products, and enter new markets much more confidently, knowing that their operational capability is built, and can be activated when needed.
Real-World Use Cases for Solo ET
The applications for a Solo ET platform are vast and span nearly every industry. Below are some examples of how it could be used:
- E-Commerce and Retail: One of the retail companies may have a finely tuned connected customer experience, such as a Solo ET. It could coordinate inventory controls at both the digital level and brick-and-mortar level, tailor products using AI, and analyze insights from sales data immediately to optimize strategy on pricing and promotions.
- Healthcare: A hospital system might deploy a Solo ET to optimize patient management. This includes automating appointment scheduling, managing electronic health records (EHR), using AI to assist physicians in preliminary diagnostic assessments from medical imaging, and monitoring patient vitals in real-time.
- Manufacturing: In a smart factory, a Solo ET platform can oversee the entire manufacturing process. It could oversee machinery on the manufacturing floor, leverage predictive analytics to schedule maintenance before failure, automate quality inspection, and manage the manufacturing supply chain from raw materials to finished goods.
- Financial Services: A bank could utilize a Solo ET for fraud detection and customer service.The AI technology would process transactions in real time to detect a possible fraud transaction event, while chatbots leveraging natural language processing (NLP) would answer standard customer inquiries, freeing human representatives to address inquiries that required a more complex response.
The Future is Unified
As technology keeps advancing, the trend toward integration and unification will reduce the rate of increasing fragmentation. Platforms like Solo ET represent the next step in digital transformation – a transition from groupings of disconnected tools to a seamless, intelligent operating system that unites the spine of your business. It provides competitive advantages for any organization that wants to survive and thrive in a data-rich world by combining automation, AI, and analytics into one powerful platform.
Conclusion
Solo ET is more than just a new piece of software. It offers a new way of thinking about how an organization can do business. Solo ET takes action to solve an ongoing problem of inefficiency, legacy data silos and slow decision making by bringing together some of the most powerful tools of this moment in time into one platform. For organizations looking to be more agile, intelligent, and customer-centric, a unified platform like Solo ET is a crucial first step in becoming an organization that can survive and thrive in the future.
