COVID-19: Dramatical Impact to the Economy
In a baseline scenario, it is expected that economic growth in Germany will decrease by 2.8% in 2020 and recover by 3.7% in 2021.
The coronavirus pandemic is the most devastating global crisis since the second world war affecting everybody in the globe. It is also having a growing impact on the global economy.
To respond to the COVID-19 outbreak, within our expertise and resources, we have created hyperautomation solution use cases for the most affected industries e.g. Healthcare, Pharmaceuticals and Insurance etc. to help navigating through the crisis together. We are eager to help businesses benefit from much faster speed and accuracy and fulfil the market’s demand during the crisis. People in need can also expect less waiting time.
Impact on individual industries [%]
- 20% Severe Impact
- 5% Medium Impact
- 75% Mild Impact
- According to IATA, airlines worldwide are currently facing a loss of $ 63 billion, if the situation continues, up to $ 113 billion.
- The online giant Amazon plans to hire 100,000 additional employees to cope with the increased volume of orders placed.
- Zoom stock (provider of video conferencing solutions) rose from $ 79.60 to $ 140.36 within 6 months (as of March 25, 2020).
Hyperautomation solutions
These Hyperautomation solutions designed for the challenges caused by COVID-19 are:
and can be implemented remotely for the largest part. This enables processing higher order volumes during the current crisis.
Hyperautomation use cases that can be applied to a large part of all industries:
Hyperautomation – Assurance of sensitive data during remote work
Assurance of sensitive data and compliance
Enable employees to work unrestricted due to authorizations
Exemption from the risk of working with sensitive data
Enable remote work
Hyperautomation – Provision of all relevant information to support decision making
Heightens individual awareness of relevant metrics and information
Saves personal time
Hyperautomation – Automated screening of employee health
Keep critical workers working
Reduce hospital backlogs
Improve efficiency
Hyperautomation – Enabling non-delayed and unrestricted work from home
Faster setups
Pressure ease on employees
Reduce manual errors
Hyperautomation – Investment analysis and evaluation for efficient remote work
Ensure business continuity
Enable staff to work from home
Reduce manual work for employees
Reduce manual errors
Hyperautomation – Enabling employee travel despite possible restrictions
Reduce manual labor; decreasing workload
Speed up tasks
More authorized travelers on the road
Eliminate fines for travelers
Hyperautomation – Advancing the digitization and automation strategy
The customer doesn’t need to go to the service desk for data updates
The company saves time to process the data
Helps digitize the whole organization
Hyperautomation – Continuous monitoring of employee health without tying up capacities to it without capacity commitment
Ensure staff health and safety
Visibility on staff location (remote vs. office-based)
Reduce overhead cost & workload
Hyperautomation – Avoidance of capacity-related backlogs
Ensure business continuity
Maintain a high level of customer satisfaction
Reduce operating costs
Operational efficiency
The major challenges for the Healthcare and Pharmaceutical industry
Shortage of required Testing Kits and Medical Devices lead to increased Diagnostic Cycle Times and Volumes.
Fast track research and development for Testing Kits and Vaccine require fast track approval mechanisms and strong Trial Data management.
Business Continuity Plan management is suffering due to higher patient interaction and significantly reduced Predictability.
Disrupted Supply Chains slows down progress while Infection Control, Bio-Surveillance, and Clinical Reporting are more critical than ever.
Hyperautomation solutions
Hyperautomation – Maintaining a high level of fast service and information for concerned customers
Provide timely patient care
Deliver important health information to members
Reduce the volume of inquiries
Lessen pressure on call centers
Hyperautomation – Speeding up the sample analysis and diagnosis of patients
Quicker patient diagnosis
Free up specialists for other tasks
Reduce cycle times
Hyperautomation – Accelerated Hiring to support the Healthcare system
Speed up the hiring process
Free up the existing staff to focus on the next stages of the hiring processes
Hyperautomation – Collecting and centralizing cross-national COVID-19 data
Reduce manual errors
Standardization
Faster results
Real time updates
Hyperautomation – Accelerating the development of a vaccine against COVID-19
Help accelerate mission-critical work
More time for analysis and tests
No errors during the data entry
Hyperautomation – Processing an enormous among of increase in orders of hygiene articles
Companies can fulfill the volume of orders requested of them
Their product can play an essential role in stopping the spread of the coronavirus and COVID-19
The team can benefit from increased capacity
Accelerate operational efficiency
Hyperautomation – Hospital automates COVID-19 test results
Saves 2-3 hours a day for clinician
Makes data available in real-time
Keep critical workers working
Accelerate operational efficiency
Reduce the administrative strain
Hyperautomation Enabling more COVID-19 tests by reducing the processing time
Results will gain the medical workers and patients much more time, at the same time reduce errors
The major challenges for the Transportation industry
Drastically reduced public life (e.g. Work from home) has majorly decreased the demand for public transportation.
E-commerce delivery companies are struggling to satisfy the demand that has risen from consumers and companies alike.
Aviation industry is cancelling up to 90 % of their passenger flights due to governmental policies and travel restrictions.
With social distancing being the recommendation, many Shared Mobility providers are struggling to receive any requests at all, while others are booming.
Hyperautomation solutions
Hyperautomation – Enable to prevent dense crowds to avoid the spread of COVID-19
Mitigate the risk of infection
Reduce manual work for employees
Reduce manual errors
Hyperautomation – Ensuring business continuity by identifying process and automation capabilities
Ensure business continuity
Maintain a high level of customer satisfaction
Reduce operating costs
Operational efficiency
Hyperautomation – Improving contact center efficiencies and service for Airlines and Companies
Faster call triage process
Faster routing to appropriate agents
Reduce average call handling time (AHT)
Improve customer experience
Ensure business continuity
Maintain a high level of customer satisfaction and experience
Reduce operating costs
Major challenges for the Finance industry
Delay in loan payments or missed EMI payments by retail customers from distressed regions or corporates from impacted industries.
Reduction in fee income from corporates requiring Working Capital due to reduced demand and supply chain breaks.
Reduction in Branch footfall and transactions and services accessed through branches.
Impact to Identification & Verification required for completing KYC.
Hyperautomation solutions
Hyperautomation – Monitor rental payments despite reduced capacity and changing policies
Resume claim processing and cash flow
Increase tenant satisfaction
Hyperautomation – Processing a spike in credit claims
Handling claims more efficiently
Fewer calls relating to COVID-19 credit claims
Maintain a high level of customer satisfaction and experience
Hyperautomation – Enabling more revenue-generating client outreach by automating the processing of trade allocations
100% of the process automated after initial entry
90% reduction in booking errors that led to settlement issues
More time spent on revenue-generating client outreach
Hyperautomation – Customer Servicing through Virtual Channels
Ensure business continuity during the influx of transactions
Maintain a high level of customer satisfaction
Average AHT saves: 25 – 40%
Effort reduction: 60 – 100%
Hyperautomation – Deploying robots to handle the surge in mortgage hold requests
Add operational capacity and speed
Issue much needed mortgage breaks in a timely fashion
Avoid growing a backlog
Quick relief for homeowners
Hyperautomation – Advancing digital customer service to maintain high satisfaction
The customer doesn’t need to go to the bank for data updates
The bank saves time to process the data
Helps digitize the bank
Hyperautomation – Processing high volume of trade transactions in a volatile market
Ensure business continuity during the influx of transactions
Maintain a high level of customer satisfaction
Increase capacity
Improve employee experience
The major challenges for the Insurance industry
Increase in number of claims for Life & Health Benefits Carriers from impacted customers.
Increase in hardship withdrawals and Required Minimum Distribution cash-outs from the retirement funds.
Factory shut-downs and export curbs, leading to large commercial and specialty Claims for Insurers.
Adverse impact to travel and hospitality Industry revenue leading to shrinking of premium and revenue for Insurers.
Hyperautomation solutions
Hyperautomation – Processing of Hardship Withdrawals and Disability Benefit Claims
Ensure business continuity during the influx of transaction
AHT Saves: 60-70%
Increase capacity
Effort Reduction: 90 – 95%
Accuracy: 100%
Hyperautomation – Automation of the cash application process to save capacity
Improvement in DSO
Automated process to save time
Meet demand peaks
Hyperautomation – Automated ordering of necessary tools for working from home
Ensure business continuity
Enable staff to work from home
Hyperautomation – Enabling telephone customer service despite increased call volumes
Improved customer experience
Reduced call center wait times
Reduce steps in the process
Hyperautomation – Processing a spike in insurance claims
Handling claims more efficiently
Fewer calls relating to COVID-19 insurance claims
Maintain a high level of customer satisfaction and experience
Hyperautomation – Collecting and centralizing cross-national COVID-19 data
Reduce manual errors
Standardization
Faster results
Real time updates
The major challenges for the Service providing industry
Major uncertainties cause reduced order situation for many service providers.
Tourism agencies are suffering as international travelling bans entry bans lead to cancellation and refund requests.
Providers of software required to work remotely are seeing a major spike in demand.
Internet, streaming and cloud-service providers are dealing with up to 300 % more traffic than usual.
Hyperautomation solutions
Hyperautomation – Handling higher call center workload due to COVID-19
Faster call triage process
Faster routing to appropriate agents
Reduce average call handling time (AHT)
Improve customer experience
Ensure business continuity
Maintain a high level of customer satisfaction and experience
Reduce operating costs
Hyperautomation – Continuing financial processes amid reduced workforce
Prevent payment backlogs
Resume claim processing and cash flow
Hyperautomation – Processing an enormous among of increase in orders of hygiene articles
Companies can fulfill the volume of orders requested of them
Their product can play an essential role in stopping the spread of the coronavirus and COVID-19
The team can benefit from increased capacity
Accelerate operational efficiency
The major challenges for the Retail & Wholesaler industry
Retailers classified as „non-mandatory“ are forced to close local stores.
Mandatory institutions like supermarkets or pharmacies are seeing a significant increase in demand, which they have to coordinate with goods supply and human resources.
As E-Commerce will remain open, many businesses have to switch their retail concept to online if they want to survive.
As many production sites are closed, retailers have to find ways to fulfill their clients‘ demands.
Hyperautomation solutions
Hyperautomation – Continuing financial processes amid reduced workforce
Prevent payment backlogs
Resume claim processing and cash flow
Hyperautomation – Enable distribution through efficient procurement and logistic
Reduce purchasing backlog
Accurate inventory management
Properly stock necessary supplies
Hyperautomation – Accelerated hiring process to prevent queues in front of Markets
Speed the hiring process
Keep critical workers working
Reduction of anxiety in the population
Free up the existing staff to focus on the next stages of the hiring processes
Hyperautomation – Processing applicants for 100k new delivery positions
Faster triage process for the applicants
HR people focused on more strategic parts of the job
Increase workforce capacity
Maintain a high level of customer satisfaction and experience
Hyperautomation – Handling higher call center workload due to COVID-19
Faster call triage process
Faster routing to appropriate agents
Reduce average call handling time (AHT)
Improve customer experience
Ensure business continuity
Maintain a high level of customer satisfaction and experience
Reduce operating costs
Hyperautomation – Processing an enormous among of increase in orders of hygiene articles
Companies can fulfill the volume of orders requested of them
Their product can play an essential role in stopping the spread of the coronavirus and COVID-19
The team can benefit from increased capacity
Accelerate operational efficiency
The major challenges for the Manufacturing industry
Due to governmental restrictions, many production sites have to be shut down or reduced to a minimum.
During times of crisis, many manufacturers have to change their portfolio to produce goods desperately required by humanity.
As logistics and supply chains are majorly affected, many manufacturers see a shortage of supplies and materials.
The shifted focus of the public has caused a spike in the demand for essential goods, while the demand for luxury goods has fallen.
Hyperautomation solutions
Hyperautomation – Enabling the constant use of monitoring tools despite working from home
Give remote employees visibility
Enables further remote work
Keeps business running as usual
Hyperautomation – Continuing financial processes amid reduced workforce
Prevent payment backlogs
Resume claim processing and cash flow
Hyperautomation – Enable distribution through efficient procurement and logistic
Reduce purchasing backlog
Accurate inventory management
Properly stock necessary supplies
Hyperautomation – Processing an enormous among of increase in orders of hygiene articles
Companies can fulfill the volume of orders requested of them
Their product can play an essential role in stopping the spread of the coronavirus and COVID-19
The team can benefit from increased capacity
Accelerate operational efficiency
In order to provide help quickly and easily, UiPath offers the annual license of its Automation Hub for one year free of charge, an order must be placed by April 30, 2020.
