In today’s complex regulatory landscape, organizations face the challenge of efficiently interpreting and implementing policies and regulations across various business processes.
Oracle Policy Automation (OPA) emerges as a transformative force, offering a robust platform for automating complex decision-making processes and regulatory compliance requirements. By leveraging natural language processing, predictive analytics, and rule modeling capabilities, OPA empowers organizations to streamline decision-making, improve compliance, and enhance customer experiences.
In this article, we discuss the innovative capabilities of Oracle Policy Automation, exploring its key features, benefits, and the significant role it plays in enabling organizations to navigate regulatory complexities and drive operational efficiency.
What is Oracle Policy Automation?
Oracle Policy Automation (OPA) is a powerful rules and decision automation platform that enables organizations to automate complex policies, regulations, and decision-making processes. It provides a scalable, flexible solution for modeling, analyzing, and deploying business rules across various applications and channels.
The newest version (12.2.15) offers key features, such as Engagement Cloud interview styling, dynamic reference data loading, and Identity Cloud Service integration, to further enhance the efficiency, accuracy, and consistency of organizational policies and improve satisfaction.
The OPA solution combines natural language processing, rule modeling, and predictive analytics to help organizations streamline decision-making processes, improve compliance, and enhance customer experiences. By automating decision logic and creating robust web service connections, OPA reduces manual intervention, accelerates decision-making cycles, and ensures consistency and accuracy in enterprise policy enforcement.
The Oracle Policy Automation suite consists of the following components:
- Oracle Determinations Server
- Oracle Determinations Engine
- Oracle Web Determinations
- Oracle Policy Modeling (OPM)
- Oracle Policy Automation Hub (OPA Hub)
Key Pillars of Oracle’s Policy Automation Hub
Personalized Service
Documentation for organizational policies typically requires high levels of transparency and compliance to ensure the correct policy is attached to each customer based on their particular circumstance.
Oracle Policy Automation enables users to leverage self-service functionality to ensure they choose the correct policy for their needs and allow them to add attachments to collect additional interview data, thus reducing total administrative costs and improving customer satisfaction.
User Experience
With a constant challenge of providing personalized, up-to-date self-service advice to individual users, enterprise organizations often struggle to manage and implement complex regulatory and document-based policies across teams, departments, and other connected channels.
The Oracle Policy Automation suite provides pre-built integration with an advanced decision automation solution to determine real-time advice for decisions like tax obligations, insurance premiums, benefits eligibility, and more. This way, customers are empowered to answer their own questions and respond quickly to policy changes as needed, leading to a stronger competitive edge and a lower rate of queries and appeals.
Mobile SDK
Oracle Policy Automation offers built-in Mobile Software Development Kit (SDK) functionality to enable users to build auditable decision-making into their existing mobile apps. With Oracle Mobile Application Framework (MAF), users can also write and deploy a single application across various mobile platforms, including iOS, Windows, and Android.
Agile Management
The Oracle Policy Automation hub takes an intuitive approach to policy documentation by leveraging natural language processing to transform complex policy documents into an agile web interface. This way, policy managers can rapidly deploy a single source document across all channels, increasing the accuracy and consistency of advice and connecting multi channel interviews more effectively.
Policy Cloud Mobile
Oracle Policy Automation Cloud Mobile is an application designed to help employees give advice consistent with call center and online experience data across the Oracle Service Cloud. The Policy Automation Cloud Mobile application is available for iOS, Android, and Windows users.
Features to Stay Ahead of the Game
From its intuitive rule modeling interface to its advanced natural language processing capabilities, OPA offers a range of features designed to streamline decision-making, improve compliance, and enhance customer experiences.
By providing organizations with the tools and capabilities needed to automate policy interpretation and enforcement, OPA enables them to drive operational efficiency, reduce costs, and ensure consistency and accuracy in decision-making.
Here’s a closer look at a few key features of the Oracle Policy Automation suite for business users:
Agility
Users can leverage Oracle Policy Automation to perform decision-making and improve advice across the existing cloud-based customer experience solution, reducing total implementation and maintenance costs and automating complex rules and policies.
Compliance
By leveraging Oracle Policy Automation, users can generate automated audit reports that validate the compliance of all advice and store critical policy and interview data.
Automation
With natural language business rules and advanced interview tools, Oracle Policy Automation enables users to handle various policy types, including criteria combinations, tables with multiple conditions, and logic that changes depending on the time period.
Transparency
The Oracle Policy Automation hub allows users to access pre-generated forms that help customers understand their current eligibility for certain products, interview extensions, API connections, and more, further reducing the number of follow-up queries and appeals.
Consistency
Oracle Policy Automation offers a centrally managed repository of natural language rule documents and other legislation and policy materials to improve decision-making, ensure consistent cross-channel guidance, and enhance collaboration across call channels and IoT channels.
Personalization
Interviews in the Oracle Policy Automation hub accurately connect policies to each customer based on their specific circumstances, enabling users to receive personalized advice tailored to their situation and improving overall user engagement and satisfaction.
Assessment
With Oracle Policy Automation software, organizations can leverage ‘what-if’ analysis to assess the potential impact of proposed rules, legislation, or policy changes on customers. Enhanced visibility into existing policies and their related impact helps users better understand policies, improve policy quality, and accelerate service capabilities.
Benefits for Public and Private Sector Companies
- Leverage connected and consistent channels to meet customer demand and improve service
- Navigate constantly changing policies and requirements with ease
- Accurately determine outcomes based on each customer’s circumstances
- Reduce total costs by limiting the burden on contact centers and improving service delivery
- Utilize advanced Oracle Policy Modeling functionality to model policies faster
- Access existing models and complete tasks through mobile device access
- Improve the accuracy and consistency of advice from contact centers
- Empower users to navigate complex rules by outlining easy-to-use policies
- Create business cases for key stakeholders quickly and efficiently
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