5 Amazing Benefits Of Business Process Automation (BPA) Software
What is business process automation?
According to a McKinsey research survey, 45% of workplace activities (around $2 trillion in wages) can be automated with business process automation software. Now, you might wonder how this is related to your business.
Your HR system, expense filing, inventory management system – basically anything that is repetitive or follows a set number of steps can likely be automated through BPA software.
So, what is business process automation?
Let’s use an example of a someone working in HR. Part of their job is to:
- Do a background check
- Send an offer letter to the soon-to-be employee
- Find and download the signed file
- Check if all the signatures are present
- Create their profile on your employee management system
- Send them on-boarding documents
- And much more
All of these steps are typical during the hiring process. This is a perfect example of something small, that usually takes a day or more of manual effort, and can easily be automated.
If you look at your current business operations, you’ll find many such examples. And this is exactly where BPA can help you.
Let’s look at the top 5 benefits of business process automation for your organization.
1. Scale workflows
Earlier, scaling meant hiring more people and growing in size. But with BPA, it means identifying key processes and putting a system in place to automate them.
The setup might involve a bit of work such as training your team, structuring data properly, integrating different technologies, and interdepartmental collaboration. However, once the processes are established, the organization will be able to scale much faster and reduce any inefficiencies. It will be much smoother than hiring and training employees, both in terms of cost as well as quality.
The best part is that once BPA is implemented, you begin to streamline your end-to-end processes and then improve them with each iteration. You begin to identify gaps and understand bottlenecks and redundancies. This allows you to function much more effectively, which brings, with it, the ability to grow exponentially.
2. Significantly reduced costs
Employees are expensive. The major benefit of business process automation is that it helps reduce this huge expense while keeping performance of day-to-day tasks high.
Now, the upfront cost of a BPA solution might bother you. You may need multiple licenses, to hire experts, to spend time training your team on new processes and technologies, and so on. However, BPA can easily generate 115% ROI in the first year alone.
Many organizations still believe that hiring subject matter experts or implementing new technologies will cost more than hiring people to do boring, repetitive tasks. While that may seem true at the face value, the long-term costs of automation is significantly less than long-term payroll costs.
Organizations lose billions each year due to wasted resources!
Therefore, in the long term, BPA will definitely have a positive ROI, reduce your costs, and drastically affect the need to hire more people.
3. Increased reliability and quality
Mistakes are human… or are humans, mistakes?
Even if you hire people with superhuman attention to detail, the likeliness of mistakes is still high and it gets worse when a person is doing mundane, repetitive tasks.
Automation is designed to be very efficient and reliable, especially if the tasks are repetitive.
Automation software is more reliable since it follows strict tasks exactly as it’s told to do. This is especially important if you’re handling data in the financial industry, where one small mistake could mean millions lost.
4. More time for important work
According to a Kelton Global Survey, 68% of employees say that they are overworked. With an increasing staffing shortage and an attempt to cut costs in many industries, existing employees are often overworked and overwhelmed. However, the right way to cut costs is to introduce automation rather than piling more work onto your employees.
Freeing up your employee’s workday by introducing BPA would help make them more productive, especially the tech-savvy ones.
You’ll find that most employees would actually embrace this, and direct their attention to tasks that actually need human attention and are business-critical.
This has a direct impact on employee morale, leading to a much better work environment with higher employee retention.
After all, who likes data entry?
5. Faster than people
Automated processes don’t get bored or need to take a coffee break like most of us. If implemented correctly, BPA can complete tasks at a fraction of the cost and time employees would take.
The key benefit of business process automation is to get more reliable work done, quicker, and at a far lower cost.
For example, say your business manages thousands of supplier networks. You need to check if all of the suppliers are properly certified, they have adequate stock, the details of the supplier-specific agreement, etc., while placing an order. These tasks can easily be automated and shown in a dashboard report that updates in real-time or at the press of a button.
Now to get started with automation!
The best way to start is by performing a business process review. In other words, figure out how you do business now, where your current processes are lacking, how these processes can be improved, and what a fully automated solution looks like.
This can be a lot. If you need expert advice, our team can guide you through our Automation Advantage Compatibility Analysis.
We will take a deep dive into your business a create a customized plan that will show how automation will help your business.
Contact us today to get started!
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