Businesses are increasingly automating their processes. 97% of IT decision-makers believe workflow automation is crucial to an organization’s digital transformation success. Companies that were early adopters of process automation are now flourishing, thanks to higher profit margins.
Automation helps companies refine processes, allocate resources better, increase efficiency, and decrease expenses. And it isn’t about replacing humans but about augmenting their work and making them more productive. With it, organizations can bypass human intervention, streamline workflows, and eliminate repetitive tasks.
Why organizations choose to implement process automation
1. Improved efficiency
51% of organizations use automation to boost efficiency. Automating repetitive tasks allows employees to make better use of their skills to perform high-value work, which enhances their morale and job satisfaction. Data is accurate, so it’s easier to generate reports. With these reports, organizations can identify inefficiencies, eliminate them in advance, and make more informed decisions.
2. Reduced errors
Mistakes cost organizations a lot of money. Human error costs the average multinational company about $87 million (£64 million) a year. Automation software reduces errors by ensuring consistency, adherence to processes, and compliance. It also boosts security by eliminating mistakes that lead to misconfigured systems. Over 50% of organizations believe process automation software minimizes human error in workflows.
3. High return on investment
In most cases, workflow automation can be implemented quickly, offering a quick return on investment. Many organizations start seeing a return on their investment within 6 months of deployment. There’s no need for recruitment, induction, or training, so businesses keep costs low while handling increased workloads. EDF Energy used automation to increase its Shared Services Center’s operational efficiency, achieving six times ROI on time and money.
Implementing process automation
Gartner predicts that by 2024, 69% of all managerial work will be automated. This is because most business processes have well-defined and repetitive steps that can be automated. Without automation, doing more means compromising quality.
Here’s a step-by-step process for implementing automation:
- Step 1: Research the best automation software for your organization.
- Step 2: Select a vendor
- Step 3: Understand the process steps and launch a pilot project
- Step 4: Identify bottlenecks and eliminate them
- Step 5: Manage the automation lifecycle. Keep making changes to enhance processes
Challenges of automation
- Selecting the right automation tool: Conduct an assessment and define your requirements based on your business processes.
- Using automation to fix a bad process: Companies need to audit legacy workflows before rushing to digitize them using process automation.
- Not knowing how to measure results: Establish specific success metrics such as cost savings, increased productivity, or customer satisfaction.
- Scaling automation software: Choose a robust automation platform that enables you to scale as your needs evolve.
- Insufficient employee buy-in: Allow employees to be part of the automation project, and use people-focused change management.
The soft ROI of process automation
1. Increased employee satisfaction
85% of managers believe automating some workflows gives them and their staff more time to focus on important organizational goals. Process automation eliminates repetitive tasks, allowing workers to focus on challenging activities that make them think creatively and raise their morale.
2. Improved process quality
47% of IT managersbelieve the greatest ROI from automation happens within operations. Process automation software streamlines processes, transforming them into digital workflows. The organization’s workflows are standardized across multiple departments, giving the team more control over their tasks.
3. Increased business agility
Technology and rapid change have made agility a must for businesses in the 21st century. Process automation enables an organization to set systems in place, allowing its decision-makers to react rapidly to changes with minimal disruption and remain flexible for long-term success.
4. Customer satisfaction
On average, 34% of companies adopt automation to improve the customer experience. Automation transforms how you serve customers and the experience they have with your business. You can respond to customer inquiries faster, address complaints more efficiently, and offer higher-quality services.
The hard ROI benefits of process automation
1. Cost savings
Every business wants to increase profits, and one way to achieve this is by minimizing costs. Automation technology saves organizations 10% to 50% on operational costs related to manual processing. A business can re-invest the money it saves on tasks that have a bigger impact in the long run.
2. Improved productivity
78% of managers believe automating tasks improves productivity. Repetitive tasks are handled by automation software that works faster and longer than humans. The manual intervention is minimized, thereby eliminating guesswork and lag time between tasks.
3. Time savings
A past survey revealed that most workers spend 25% of their workweek on repetitive tasks (10 hours a week). Automation can save employees 10% to 50% of the time they previously spent on manual tasks. Managers can easily assign tasks, monitor progress, and communicate with their teams, saving time.
Reap more from automation
You can enjoy the many rewards of process automation if you implement it accurately. And this can only happen if you have the right solution. With the right tool, you’ll save money, time, and improve oversight of business operations.
