What is the business value of Automation?
Business Value of Automation
The term automation was already familiar to many back in the early 1960s. Back then, automatic devices or robotic machines were introduced in the manufacturing industry to improve productivity and reduce production costs. Fast forward to the present day, the advancement of technology in artificial intelligence and machine learning is ushering in a new age of automation. Computers and robots are now capable of performing routine work tasks that may involve cognitive capabilities, better and faster than most humans.
Value of automation in business process:
Today, many organizations implement automation technologies, mainly for a similar reason: efficiency and cost-reduction. One of the most sought after automation solutions currently is the Robotic Process Automation. According to Gartner, finance departments can save 30% of a full-time employee’s overall time in doing avoidable rework tasks by deploying Robotic Process Automation (RPA) in their financial reporting processes, which can also significantly contribute to cost-saving. The business justifications for adopting automation technology are usually directly related to cost-efficiency and productivity improvements. However, there are still some overlooked areas and less explored reasons in which organizations can focus on, to realize the full business value of automation solutions.
Value of automation in employee morale and work performance:
Improving employee morale is rarely being discussed when we talk about the benefits of automation, although it plays a significant role in business performance. With countless mundane, repetitive, and low-level tasks, it is nearly impossible for employees to feel engaged at work. Employees with low morale can affect the overall work performance and may even jeopardize the customer service quality, especially for the front line employees. By automating these tasks with robotic process automation, employees can focus on more fulfilling and value-added tasks. Almost 90% of organizations will see an improvement in employee satisfaction due to the adoption of RPA, making work more interesting for the employees, which can greatly benefit the overall work performance.
Value of automation in customer service:
The 2017 Global Customer Service Report by Microsoft revealed that close to 96% of respondents mentioned customer service is vital in their choice of loyalty to a brand. Furthermore, according to the survey, 72% of respondents expect customer service agents already to have their information and insight into their previous engagements. Needless to say, efficiency and speed are also essential factors in determining the quality of customer service. One of the only ways to live up to the current customers’ expectations is by integrating customer service with automation. The adoption of service automation strategy and technology can allow organizations to address customer’s issues almost immediately upon request. Many organizations with such solutions are still continuously refining and innovating their customer service solution with AI and data analytics to provide excellent services exceeding customer’s expectations.
We are soon moving towards an era where automation solutions will be integrated into most business processes and become the essential requirement for companies to remain competitive and relevant in their respective industry. Therefore, organizations that have yet to implement any automation solutions should begin their automation journey and be prepared to embrace automation solution in its entirety to realize the full business value of automation.
Therefore, instead of asking, “Will automation take our jobs?”. We should ask, “How can I prepare myself for the automation revolution?” as it is inevitable.
