Why It’s Essential to Map Intelligent Automation Efficiencies to a 3-Year Growth Plan
When times are good, the incentive to improve processes may not have urgency—and when there is room in the market for numerous players, those that do not embrace process efficiencies may still have the good fortune to survive. But when times are harder, this lack of a proactive strategy is exposed as the luxury that it always was. And unless action is taken quickly and decisively, businesses that do not seek to streamline their processes and make efficiency savings are likely to suffer and be first to fall by the wayside.
Of course, one of the major hurdles to overcome when seeking to review and improve processes in a depressed market is the fear of wasting resources, when they are scarcer than ever. Being able to justify the cost of making changes becomes an increasingly important consideration.
This means thinking about ways to achieve maximum impact for minimal investment. And one of the simplest lower cost actions to consider is the optimisation of legacy systems and data for intelligent automation of processes.
Intelligent process automation (IPA) is where repetitive tasks are performed by machine, freeing up human employees to do work that is less routine. It has been suggested that, while less than 5% of occupations could be fully automated using existing technologies, almost all could be at least partially automated.
The ‘intelligent’ part of IPA relates to the use of software for machine learning, natural-language generation, and cognitive technology, to improve decision-making capabilities. And it has been reported that automation of 50-70% of tasks may translate into 20-35% annual run-rate cost efficiencies.
Because automation of activities can reduce errors and improve quality and speed, there are immediate quantifiable gains to be made from IPA. The question is, how best to integrate automation into business processes?
Automating repetitive tasks saves time and money, and reduces risk of errors
Seeking a technology partner with the right expertise, such as embracent, who will combine practical business experience with deep tech skills, is an important first step. One of the mistakes that some companies make is to jump straight into technical development without a proper initial review of processes—which leads them to attempt to automate inefficient or even obsolete processes.
Aligning process automation with a 3-year plan
A recruitment company’s 3-year growth plan should provide some clues as to which processes can drive the most revenue for the company and value for their clients. Processes can then be prioritised and streamlined, using intelligent automation efficiencies, in alignment with this 3-year plan.
With repetitive processes removed from the daily workload, skilled employees can focus on the things that will differentiate their business, such as high-quality talent acquisition, delivery of candidates with the best experience for non-standard job specifications, conversion of prospects to clients, providing excellent client support and advice, and keeping abreast of market and competitor news.
Process automation also benefits morale—as employees no longer have to do all of the mundane repetitive tasks, they can focus on the more interesting and challenging activities instead
Data from automated processes can be monitored in real-time, using a performance dashboard that links data output from the company’s legacy systems. So, it is easy to check whether KPI goals such as target revenue growth are being met, prompting frequent review and modification of strategies.
To be flexible and maximise opportunities in challenging times, strategic automation is an excellent way to make best use of existing resources and streamline processes to become as efficient as possible. It can help companies gain significant competitive advantage and keep ahead of the game.
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