Automation has become a hot topic in business over the past few years. While the subject brings up controversy among some parties, the reasoning behind using automation is altruistic: freeing up human talent to focus on revenue-generating tasks.
Robotic process automation incorporates the use of AI-powered software to handle repetitive and time-consuming tasks within a business workflow. Here are five compelling benefits to incorporating robotic process automation into your business
One of the overarching benefits of using robotic process automation (RPA) is improved productivity and efficiency in the workplace. A business is a collection of processes that contribute to incremental steps forward each day. The better those processes run, the more progress (and profits) a business will make.
It’s estimated that employees can save up to two hours per workday by automating repetitive tasks, for an astounding 240 extra working hours per year. Businesses could use this time to accomplish more without sacrificing employee wellness or output integrity and ultimately save a large company millions each year.
The direct relationship between productivity and profitability is the primary reason that companies are capitalizing on RPA.
Better Allocation of Resources
Every company wants the best of the best when it comes to recruitment. Securing high-potential employees can set the organization up for success, now and in the future. However, the top talent curated from a highly competitive job market is often relegated with the same tedious tasks that eat up two hours of the workday, as mentioned above.
In other words, you don’t want your all-star salesperson spending two hours a day doing paperwork; you want them out there making sales! Using RPA allows for better allocation of human resources within the business. Furthermore, as RPA is typically low-cost to implement and has a high ROI, it also contributes to better allocation of monetary resources.
Enables Business Growth
RPA has enabled small businesses to compete globally by increasing the work output accomplished by a small team. Without automation, the aspiring entrepreneurs who are finally achieving their dreams would be unable to do so.
There comes a tipping point in each business where there’s no more room for extra work until growth occurs. It becomes a vicious cycle of being unable to take on more customers and requiring more capital to expand. Incorporating RPA circumvents that issue and allows a business to become more scalable. Automated processes also help streamline the onboarding of new team members as roles and priorities evolve.
Improves Customer and Employee Retention
As RPA improves processes within the business and solves pain points, it can improve both the customer and employee experience. RPA can streamline the billing process and enhance customer service, reducing friction during the sales process.
Additionally, as employees won’t be relegated to the mind-numbing tasks that RPA repeats, they’ll experience a higher level of job satisfaction. Both of these attributes further contribute to ROI and profitability.
Decreases Errors and Inconsistencies
To err is human; to automate, divine. Some of the most catastrophic cybersecurity breaches and data loss scenarios are caused by human error. The risk of these issues are exacerbated in the past two years, due to the overnight shift to remote work without enhancing security measures and training.
Beyond cybersecurity concerns, it’s common for employees to make small errors and create inconsistencies— especially during the monotony of repetitive tasks. There are three overarching causes of human error: anxiety, distraction, and sleep deprivation. As computers don’t experience these issues, RPA can help improve data accuracy and security.
Automation isn’t perfect; every business solution has pros and cons. However, incorporating RPA is an integral first step in improving your organization’s productivity, security, and profitability. Take the time to audit your existing processes to determine where the opportunity lies for incorporating RPA.