Benefits of Automation To BusinessesMarch 27, 2020 No Comments
Featured article by Marvin Santa-Ana, Independent Technology Author
Any businessman worth his salt knows that the key to success is the skill to identify every resource available and to utilize it to the best of his abilities. One of the best things to master, especially in the 21 st century, is the ability to leverage the power of technology. There is no question that we have entered into advanced age. Staying with age-old traditions and methods leaves you vulnerable.
Competition is fierce, and it will become more vicious in the next few years. It is then essential for business owners to adopt technology into their business operations as soon as possible. This will allow them to improve their processes and gain an advantage over their competition.
A study, conducted by Redwood Software and Sapio Research, stated that by 2022, almost 60% of all business processes could already be automated. This study is a sign that as early as now, your organization must learn to utilize automation to its fullest before it becomes common practice.
Having the upper hand is crucial in the field of business, especially when you’re up against fierce competitors that will eat you alive at the first sign of weakness. Here, I have listed down some of the best benefits of automation to your business. Hopefully, this convinces you of automating most of your business processes for a better chance of survival.
The entire work process is made efficient by automation. It does this in two ways; through optimizing processes and error reduction. Automation eliminates unnecessary steps, thereby reducing the time needed to complete specific jobs. For instance, physical filing is already a useless course of action as everything is saved on the cloud.
Humans are fallible to error. Technology not so much. Save for a few bugs and glitches; automation will do whatever they have been programmed to do without running into any problem. By automating the majority of your business operations, you are limiting the possibility of human error from happening.
Makes Remote Work Possible
One convenience brought about by automated software is the possibility of remote work. A consolidated messaging platform can improve communication, lessening the chances of miscommunication. At the same time, a visual and organized management platform will allow business owners to manage their employees even outside of the office.
This feature also has the potential to bring in positive economic factors. For instance, if a work-from-home setup is effective, the overhead costs it takes to run the company is reduced. At the same time, several studies find that allowing remote work for employees boost their productivity and morale. Companies whose offices are located in an overpopulated area where traffic is a headache will benefit the most from this feature.
Easier Access To Files
Combing through folders upon folders of files to look for one vital piece of information is costly and time-consuming. It will also take away an employee or two from their actual job. For example, for retail management, a cloud-based accounting system will provide you with access to your company’s accounts anywhere you are located.
Remote access is also another convenient feature of automation. Regardless of whether you are at the office, at home, or on vacation somewhere, you can still manage and track your company’s performance. This is a vital feature that will quickly put your mind at ease.
Derive Valuable Insights
Data is the next big thing of this century. Companies all over the world, regardless of size and industry, are now investing in data science as part of their business operations. What may seem like just numbers and figures for you can be transformed into valuable insights that can steer your company into greater heights.
Some data engineer skills are needed for this, though. Automated software collects data and a data scientist or engineer analyses the raw data. What you are left with are suggestions and recommendations on how to manage your organization better.
One of the main tasks of automation is risk reduction. By providing a full visual of company data, it is possible that the decision making of business owners become much more organized and data-driven. By quantifying certain activities, companies can avoid risky endeavours that can endanger the organization as a whole. Contract Risk Management, for example, is made easier through a full visual of contract metadata.
With all of the factors mentioned above, it is quite easy to surmise that the productivity of an organization, should it choose to automate the majority of its processes, will also increase. Automated software will reduce the time needed to complete certain tasks. This then opens up the opportunity for other jobs to get completed.
Aside from this, automated integrations eliminate the need for menial jobs, i.e. administrative or organizational tasks. This frees employees for more meaningful activities allowing them to concentrate on some of the complicated stuff that they were hired to do.SOCIAL BUSINESS