Future-proofing is the security that your business needs!
With the rise of new technologies and shifting demographics, predicting future business scenarios seems uncertain. Looking back at the last two years, who could have predicted the digital transformation in businesses due to the global Covid-19 pandemic?
According to the McKinsey Podcast, Organizations that are “future ready” for the post-pandemic world will be able to deliver value and reach financial goals even amid ongoing changes. (Source: mckinsey )
In the world of business where entrepreneurs need to put most of their efforts into improving products or services, future-proofing your business is another consideration. If you are considering starting a long-lasting venture soon, you must know some promising future-proof ideas that will take your reach beyond the level.
A recent report from NCCI reveals that manual tasks globally are expected to rise to 25% by 2025, particularly in small businesses. Fortunately, 50%of repetitive, time-consuming tasks can be automated in today’s age. (Source: mckinsey )
To get the maximum benefit from automated technologies, it is essential to consider which business process and activities to prioritize. According to the Deloitte Global Survey, 78% of organizations are expected to significantly increase investment in RPA over the next three years.(Source: www2.deloitte.com)
Robotic Process Automation is a technological salvation for businesses with the potential to adjust to fluctuating circumstances which makes it different from conventional IT Automation. This kind of technology has transformed the automated way of business processes and has proved to significantly improve the efficiency and productivity of businesses.
The Power of RPA for your Business
From healthcare, and finance to telecommunications and insurance, implementing Robotic Process Automation is an effective solution to make a business agile and resilient.
RPA helps businesses save two crucial resources-time and money on various internal activities including hiring new employees, delivering internal documents as well as sorting many IT-related issues. Moreover, this automated technology will bring the desired level of information simplification that ensures smooth interaction with clients, workflow for employees, and performance of devices. The saved resources can be channelized to build strategies to secure your business.
Boost Employee Effectiveness
Automated technologies improve production efficiency and reduce costs. The technology allows employees to focus on more crucial tasks, rather than wasting their time. By doing activities that are more valuable for the company, employees become more engaged in their work.
According to recent research by Gartner, Robotic Process Automated solutions enhance work productivity and better manage employee stress levels, which could be the reason behind 48% of organizations currently working towards implementing RPA solutions for handling manual tasks and employees better. (Source: Gartner)
With RPA, there is no requirement for unnecessary integration with all applications as the technology uses IT systems as FTE. This automated technology can also be adjusted based on requirements. Almost every business process, business application, and workflow can be automated using the most flexible RPA solutions.
Quick Request Processing
One of RPA’s strongest points is client request processing in real time which leads to bringing results in mere seconds. Going the manual way, the process may take longer times, and automating the procedure will reduce the time for document processing down to a couple of minutes. The technology provides a consistent and precise process with just a pattern to complete repetitive tasks. RPA bots speed up the process of responding to external changes.
Better SLA Analysis
With RPA, it becomes possible to monitor SLA’s current improvement and future issues related to performance. This helps companies understand whether there is any kind of improvement in the work of the team. Timely resolution of issues and enhancements make a business more resilient.
3-Step approach to future-proof business with RPA
In today’s competitive business world, entrepreneurs cannot afford to waste time, money, and resources. No matter the industry, businesses are not willing to take the risks of errors, employee frustration, unsatisfied customers, and economic uncertainty. With the objective to address such issues, improve productivity and streamline operations, RPA future-proofing has become an essential practice.
The approach to future-proof your business with RPA includes just three steps: Identity, Analyze, and Automate!
The process begins with identifying the activities or tasks that need to be automated. Simply break down the process into basic components and find out the individual tasks that need to be done to complete the activity with the number of employees involved along with which reports, deliverables or information would be required as part of the process.
After analyzing the essential components of the process, the next step is to make a thorough business process analysis. This is required to monitor the efficiency of a process and discover how it should be further analyzed prior to an RPA implementation.
Just turning to Robotic Process Automation is not enough because RPA needs adequate design, planning, and governance to guarantee a business’s longevity.
According to a recent report from American Express, Future-proofing business with RPA cannot be difficult or expensive, especially if you make it a part of the regular process. Yet, choosing the right tool and a strategic approach can provide you with security and financial stability as you navigate the uncertain and ever-changing business climate.
By following the above approach, businesses can position themselves as future-ready and remain competitive in the line of evolving competitive environments. The next step is choosing the best automation tool for your enterprise.
What to look for in an RPA tool?
Understanding the unique spectrum of business processes can help choose the right automation technology for your business goals. To conquer the future of business, it is important to pick the ideal tool, and the below aspects will help you determine the evaluation criteria.
Strive for Cohesiveness
Depending on your business requirements and goals of automation, make sure to pick the tool that ensures smooth integration with other systems. For every complex enterprise architecture, the tech solution should integrate seamlessly so as to make it possible to automate as many processes as possible.
Identify the Need for Automation
Certain software tools support hybrid business scenarios and can automate desktop, web, and mobile applications whereas some others support a multi-environment deployment model for medium and large organizations. When there are dozens of RPA tools, choosing the right automation solution makes you figure out what tasks and workflows you need to automate in your business. Find out the specific figures you want to enhance. Identifying the needs of automation will help you choose the right automation tool for your requirements.
High-quality Control Measures
To unveil possible bugs, it is crucial to choose your automation tool to the quality control standards. Monitor and measure tool effectiveness, to ensure the RPA tool you choose has a well-designed exception-handling process. In some cases, errors need human attention otherwise can be handled automatically. If the process or activity is prone to more errors, it is good to pick the RPA tool with better exception-handling techniques.
Cost & Compatibility
According to the Deloitte Global RPA Survey, around 60% of participants reported their expectation of cost reduction being successfully met or exceeded with the right RPA solution. (Source: www2.deloitte.com )
This brings the need to choose a solution with all possible security measures and with already proven a return on the investment. Also, consider the functional and operational possibilities along with the cost of implementation, maintenance, and more. For any company, particularly if you would like to start small and then scale, cost and compatible features with your business roadmap are absolutely essential.
A common mistake that many entrepreneurs make is choosing an RPA solution that solves current challenges and requirements. Of course, the technology that addresses current goals is imperative, but foresight is also necessary.
The professional team at Auxiliobits helps you future-proof your business with the best RPA solutions for your business. We help you customize the software according to the specific needs of your business.
RPA is essentially the automation of highly-repetitive tasks, and a perfect future-proof automation solution in terms of cost, compatibility with the company’s vision, and diverse architecture. While RPA implementation may seem challenging, it can help you with critical future-proofing goals- offering a positive digital experience, empowering employees, and making smart decisions.
Watch this space more on the exciting world of automation!