For any business, it’s important to get the most out of the available resources. Business process automation is a means to do just that by leveraging the power of technology.
According to a study conducted by Redwood Software and Sapio Research, about 59% of business processes could be automated by 2022.
Automating your business helps to increase the efficiency of your business management. It also reduces the overall cost of running a company.
What is business process automation (BPA)
Business process automation automates time-consuming regular tasks by using software technologies. This frees up your valuable human resources and lets you dedicate them to jobs that require a greater degree of human engagement.
A simple example of business automation might be a portal that manages the attendance and leave-counts of your employees. If done manually, this can take a lot of time for a big company where there are a large number of employees. But automating the process can significantly reduce the pressure on your HR team.
Some of the processes that businesses can easily automate include financial accounting, customer billing, inventory management, customer support etc.
Benefits of BPA
The most important aspect of business process automation is that it makes your organization more efficient. Software systems have reached a level of universal usage and availability where every business needs to move into automation if they want to stay competitive.
Here are some key benefits that business process automation will bring you.
1. Better allocation of the workforce
Automating tasks allows your business to free up your workforce from many repeated actions that actually do not need that much human intervention. This enables you to reorganize your company’s structure and focus more on creative tasks and innovation.
2. Cost reduction
Business process automation means that more man-hours are available to you. This means your company can have the same level of output even after reducing the human workforce. Thus, you have the chance to focus more on the quality of your employees instead of quantity. And eventually, reduce the overall cost of business operation.
3. Reduction of human errors
No matter how efficient your workforce is, it’s impossible to avoid human errors. Automation can limit the possibility of errors in the business process. Of course, it’s not possible to use software to run all parts of any business. But integrating BPA can reduce or eliminate the possibility of human errors at certain stages of the business process.
4. Better collaboration
At complex projects, monitoring every team member and ensuring proper flow of information often turns out to be a difficult task. Keeping track of project process, updating the different teams, setting goals and deadlines become a lot easier if these processes can be automated.
5. Deeper insights into the business process
By computationally managing your business information, you can analyse and dig deeper into the data. Automating the business process thus gives you a way to gain deeper into different aspects of your business.
For example, you may want to see the number of leads that you are generating and compare that with the number of sales you have. Of course, this analysis can be done manually. But for large organisations, such manual analysis can be complex. Better insights also mean you can easily identify problems in any part of the business process, which may otherwise be invisible.
Business process automation is becoming an essential for strategy every forward thinking company. It enhances your organizational management, lets you make more informed business decisions and increases the output while reducing cost.