Remote Product Development to fast-track Intelligent Automation adoption

Shankar Sundaram | 23 June 2020

Organisations, large and small, are finding ways to adapt to this new world of lockdowns and disruption to the “normal” ways of working. For many companies, discretionary projects are on hold, due to business decline or non-availability of resources and budget re-allocation to business continuity plans.

A few visionary firms, however, have shown the will and initiative to peer through the clouds of uncertainty and dared to go ahead with major transformative programmes.

A report by Deloitte said “The future of work is being shaped by two powerful forces: The growing adoption of artificial intelligence in the workplace, and the expansion of the workforce to include both on- and off-balance-sheet talent”.

LatentBridge team spent time with several industry leaders that were willing to challenge the traditional barriers of product development and usher in the “Future of Work”.

The Future of Work is geared towards Remote Product Development and delivery involving co-innovation with clients.

By using a unique mix of proprietary, customised tools and industry standard Remote Product Development (RPD) methodologies, LatentBridge was able to fast-track the traditional project life cycle and deliver results to customers sooner.

Below are key steps to provide accelerated results to clients.

  1. e-Requirement (ERQ) Digital Toolkits: Clear definition of requirements is half the work done. During the design phase, LatentBridge used digitalisation tools, voice-to-text transcriptions, rapid process blueprinting, and also recorded the requirement sessions to develop clear and concise customer needs statement. This reduced the requirement definition time by more than 50%.
  2. User-Vision Tools (UVT): A combination of proprietary visualisation tools, wire-framing techniques were used during the Visualization phase. Rapid visualization of end-user capabilities helped recreate and replay expected user interfaces.
  3. Process-Linked Data Design: A LatentBridge-unique way of rapidly designing data structures, rules, and storage approaches ensures a fully optimised data model design based entirely on what firms need. The traditional static, referential, and transactional data design is both cumbersome and slower.

Adopting the above methodology LatentBridge was able to deliver product design and to-be features 60% faster and at 20% of conventional costs for one the largest wealth advisory firms in UK.

This proprietary RPD methodology can be applied to assess feasibility and visualize post-automation for processes like Loan process automation, loan application and supporting document verification, compliance oversight management, automated investment portfolio monitoring, Securities settlement fails monitoring and claims management and many others.

Remote Product Development is the way forward for adoption of intelligent automation. It helps maintain laser focus on automation goals, tracking progress regularly and accelerating delivery of business goals and results.

Write to us at info@latentbridge.com to get a free consultation with our expert on how we can help your business accelerate and scale its automation journey.