Below is our recent interview with Henry Xie, the Founder and CEO of Simple Fractal:
Q: Could you provide our readers with a brief introduction to Simple Fractal?
A: Simple Fractal creates software that mimics human workflows with superhuman speed, accuracy, and precision. We do so by developing software bots to operate and connect businesses’ existing software systems. Our Robotic Process Automation (RPA) solutions are fully customizable and managed, ultimately providing digital labor to our clients.
Q: How can Simple Fractal’s custom software robots help businesses?
A: Our solutions increase speed, reduce operational costs, and eliminate human error. This is valuable to businesses with repetitive high-volume and error-prone tasks. In our experience, bots outperform human teams at tedious digital processes. For example, our bots processed a backlog of 70,000+ insurance payments in 3.5 hours, outperforming 18,000 concurrent human users logged onto the same SaaS platform.
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Q: So you help businesses. What about human talent?
A: By creating bots to take on employees’ most boring and mindless tasks, we free them up for work that requires judgment and creativity. Seven years ago, I witnessed around 10 middle-aged employees toiling away in a small room without windows, manually copying clinical information from one EHR system to another. The process was incredibly inefficient, prone to human error, and the employees seemed miserable. It was painful to watch. When I learned that 63% of US health workers self-report that their work requires a great deal of menial data entry in different systems, I knew that what we’re doing will make a difference for businesses and workers alike. Our solution can increase business efficiency while making human work more humane.
Q: How exactly does your software operate other software systems?
A: The same way as humans, except faster, better, and cheaper. Quite often, processes are menial, well-defined, and better-suited to bots than people. Our bots are programmed to execute the same keystrokes and mouse clicks, except much faster and 100% consistently. So after learning how employees perform business processes today, we build custom software bots to complete the processes going forward.
Q: Do you focus on any particular market? If so, why?
A: Our primary focus is healthcare though we have also done work in financial services and other industries. I see improving the quality and affordability of healthcare as a meaningful goal. At the same time, healthcare administration costs an astonishing trillion dollars per year, much of which I believe to be unnecessary waste. We have already had great success automating many aspects of revenue cycle management, saving our clients millions in the process. With healthcare problems being both meaningful and valuable to solve, it is a privilege for Simple Fractal to help.
Q: What are the benefits of partnering with Simple Fractal?
A: In short, we understand their business. In order to deliver optimal solutions, it’s imperative to gain a deep understanding of the problem and the context in which the bots will be used. In addition, we provide end-to-end RPA solutions and can therefore offer unparalleled cost transparency. Instead of selling or leasing a DIY tool, we assess, design, build, deploy, host, and maintain software bots tailored to each organization’s needs.
As a result, we have succeeded where many others have failed. Our clients often tell us how multiple consultants and tech vendors have failed where we were able to deliver success, and prove our ROI with hard numbers, the first time around.
We pride ourselves on long-term, mutually fruitful partnerships with our clients. We typically deliver financial return and strategic upside early on, rendering leadership eager to expand to other areas of the business and repeat the success.
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Q: What’s the best thing about Simple Fractal that people might not know about?
A: We’ve had a lot of success nurturing the best and brightest raw talent. Investing in highly intelligent, motivated, and coachable individuals has enabled us to grow and adapt quickly and offer our employees opportunities for rapid career advancement.
Q: What are the company’s plans and goals for the future?
A: We are intent on growing fast so we can help more organizations succeed and stop wasting human talent on grunt work. We’re currently working on expanding our channel partnerships to consultants, subject matter experts, and investors who have trusted relationships and deep knowledge of the problems most worth solving.Activate Social Media: