0 | 1,171 | 04 May 2024
By utilizing automation, businesses can unlock many benefits that directly impact productivity, cost savings, customer satisfaction, and growth.
According to Red Hat, business process automation (BPA) uses software to automate repeatable, multistep business transactions. In contrast to other types of automation, BPA solutions tend to be complex, connected to multiple enterprise information technology (IT) systems, and tailored specifically to the needs of an organization.
What business processes can I automate?
Machines excel at following clearly defined steps. Therefore, you can automate any rule-based business process. Examples include:
- Roll call attendance
- Invoice processing
- Finance Reporting
- Employee onboarding
- Data entry
- Payroll processing
- Transaction monitoring
Here are some of the benefits of business automation:
1. Reduced manual errors: Automation can eliminate human errors due to fatigue, distraction, or lack of expertise. Automation can also ensure consistency and accuracy in data entry, processing, and reporting. For example, invoice automation can match, route, and code invoices without manual intervention, reducing the risk of errors and delays. ¹2. Improved productivity: Automation can speed up the execution of tasks and processes, allowing businesses to achieve more in less time. Automation can also free employees from mundane and tedious tasks, giving them more time to focus on creative and strategic work. For example, hiring automation can streamline recruitment by screening candidates, scheduling interviews, and sending feedback automatically. ¹3. Rapid reactions: Automation can enable businesses to respond quickly and effectively to changing customer needs, market demands, and business opportunities. Automation can also help businesses adapt to unforeseen events and disruptions like natural disasters, pandemics, or cyberattacks. For example, automation can help businesses switch seamlessly to remote work, online sales, and digital communication. ²
4. Boosted morale and teamwork: Automation can improve employee satisfaction and engagement by reducing stress, frustration, and boredom. Automation can also enhance collaboration and communication among teams and departments, as well as with customers and partners. For example, automation can help teams share information, coordinate tasks, and track progress easily. ²
5. Time & Cost savings: Automation can reduce operational costs by optimizing the use of resources, such as time, money, and labour.
6. Increased Revenue: Automation can increase revenue by improving customer retention, loyalty, and referrals. For example, automation can help businesses save on paper, postage, and storage costs by digitizing documents and records.³
7. Optimized skillsets: Automation can help businesses leverage their employees' best talents and skills, as well as external experts and consultants. Automation can also help businesses train and upskill their employees and recruit and onboard new hires. For example, automation can help businesses provide personalized learning and development opportunities for their employees based on their performance and goals. ³
8. Improved operational efficiency: Automation can help businesses streamline and standardize their workflows and processes, ensuring quality and compliance. Automation can also help businesses monitor and measure their performance and outcomes and identify and resolve issues and bottlenecks. For example, automation can help businesses generate and analyze reports and dashboards that provide insights and recommendations. ⁴
9. Data-led insights: Automation can help businesses collect and process large amounts of data from various sources, such as customers, competitors, and industry trends. Automation can also help businesses transform and visualize data into meaningful and actionable information, such as patterns, predictions, and suggestions. For example, automation can help businesses understand and anticipate customer behaviour, preferences, and feedback. ⁴
10. Clear accountability and easy compliance: Automation can help businesses assign and track roles and responsibilities and document and audit actions and decisions. Automation can also help companies comply with rules and regulations, such as data protection, tax, and labour laws. For example, automation can help businesses encrypt and secure their data and generate and submit tax returns and payroll reports.
11. Scalability: Automation can help businesses grow and expand their operations and reach without compromising quality and efficiency. Automation can also help enterprises cope with fluctuations and variations in demand and supply, such as seasonal peaks and troughs. For example, automation can help businesses scale up or down their production, inventory, and delivery according to customer orders and feedback.
Business automation is not a one-time project but a continuous process of improvement and innovation. Businesses that embrace automation can gain a competitive edge and achieve their goals faster and better. ¹²³⁴
Sources:
(1) Business Automation Explained: Benefits, Examples, and More. https://www.activecampaign.com/blog/business-automation.
(2) 10 Key Benefits of Business Process Automation | Cflow. https://www.cflowapps.com/benefits-of-business-process-automation/.
(3) Ten benefits of automation | ThinkAutomation. https://www.thinkautomation.com/productivity/ten-benefits-of-automation.
(4) How Automation Drives Business Growth and Efficiency. https://hbr.org/sponsored/2023/04/how-automation-drives-business-growth-and-efficiency.
(5) Top 10 benefits of business process automation | Technology Magazine. https://technologymagazine.com...