Business process automation is necessary for every business irrespective of the size, in a world that is changing at a speed that will be difficult to catch up to if one is not in sync. Automation of business is the relevance that corporates and small businesses will fall back upon, to even innovate and reskill when growth hits a plateau after scaling a mountain top.
If someone has to justify the need for automation based on the size of the business alone, then it will surprise us that all businesses benefit from workflow automation. Large businesses can free up the capacity of their employees and scale their products. Small ones can establish their feet and reduce hiring professionals for crucial processes such as accounts and cash management.
Types of automation
Broadly speaking workflow tasks are either repetitively run on a rule-of-thumb synchronization or need decision-making after a thorough analysis of the data sets. For repetitive processes, robotic process automation is used, and data assessment and decision-making analytical business intelligence tools are used.
Robotic process automation is used for repetitive tasks that need to be performed without human errors and at a faster speed than humans. The automation platforms are usually low code, drag-and-drop features that can be customized, as per the business requirement.
Data analytics tools help in the complete assessment of the critical components that affect the business. Strategic business decisions are recommended, and the teams can enact these points as precautionary measures. It saves money in catastrophic times and identifies opportunities in the normal course of business days.
Apart from the direct benefits of workflow automation that increase productivity, and save time and money, numerous other reasons make them the right reasons to automate. Here is a list of a few valid reasons to automate business processes:
- Removes process anomalies
Every organization cannot work like clockwork unless there is a super efficiency level in every employee working as a collaborator on every shift. Human stress levels increase when they are expected to work like robots as they are incapable of emotionless continuity and abundant energy that will aid in increased productivity.
With stress, there can be process inefficiencies and anomalies that in the past were either unnoticed or never removed as it is accepted as trivia. Automation removes all the process anomalies, and the algorithm is back-tested for accuracy in independent trials before assuming a final platform that can integrate with the enterprise software.
A manual process like client onboarding by a clerk is lengthy in comparison to automation as the human employee has to fill the details in 4-5 different boxes. With automation, there is no need to manually fill in the details. The information is captured either with an autofill feature where the data stored in a client’s browser extensions is used or captured from the proofs submitted such as ID. This information is cross-checked with a third API for authenticity for processes that need extra precautions. A form that takes 45 minutes to be filled by a human employee and verified is finished in a matter of a few minutes.
- Increased productivity
When process inefficiencies are tackled, workflow is automated; time is saved, then automatically productivity increases. When productivity increases, the business can scale its operations till it is evident that the market cannot absorb additional supply.
Business intelligence tools will be able to predict the market supply saturation point beyond where margins will be dropped because of oversupply conditions. Strategic decisions are immediately affected, and supply is reduced to either maintain the price or newer markets or product range improved through innovations for problems that have not been addressed yet.
Automation platforms earn back the capex spent by a business within a few months, usually weeks, for some entities. With timely completion of tasks, there are no business losses, and in return, the scalable capacity is achieved with accelerated speed. Since time and resources are saved, through standardization of the process, there are no negative attributes and only positives are seen in a business cycle.
- Improves communication and transparency
Unlike manual processes, automation offers clear channels of communication and transparency. There is no delay in data sourcing, and information is accessible on a real-time basis for all the collaborators working on the project.
The task dependencies and change in status can be observed by everyone. It also increases the accountability of the employees, and no one can shirk from their responsibility or free-ride on other hard-working employees’ work. Work distribution is truly even. The team need not waste time locating the cause for the delay as there is none.
- Elevated roles and improved experience
With the free capacity of employees, they can direct their energy to fulfill roles like client interaction and engagement. When consumers are getting unparalleled service through RPA, and a human is interacting with them, the level of engagement improves and enhances the overall experience for them.
- Eco Friendly
Automation is a friendly way to reduce the paperwork and yet retain the paper trail as all the activities are recorded on a real-time basis. No particular employee can erase the details without leaving a trail of the last action. It is also paperless and thereby aids corporations to reduce their carbon footprint. Corporates also have more freedom to go with hybrid workplaces and require less real estate occupancy. It fuels more savings as automation helps in seamless processes, even with remote teams.
Business leadership cannot wait to stabilize their process before automating them any longer, as the cost of inaction is opportunity loss. Future businesses will demand extensive automation to solve the problems that have not been tapped due to a lack of resources like time and money. With the ability to produce more and help mankind, all the stakeholders have to exercise sustainable development that can help the planet and not overburden it further. Automation has to be a key component of every business irrespective of its size or age in the future.