Solve Business Problems with Process Automation

HK Bain
HK Bain
Apr 30, 2019 · 3 min read

Are you still doing business at the speed of paper? By the end of this year, 40% of enterprises will have process automation technology in place.* Business Process Automation (BPA) alleviates delays and inaccuracies in business processes with software such as Robotic Process Automation (RPA), workflow, and Intelligent Automation (IA) that integrates Artificial Intelligence (AI) capabilities to further automate non-routine processes and more complex information. How could the following automation opportunities solve problems for your enterprise and keep you ahead of the competition?

Efficiency

  • Automatically route documents through any business process to enhance accessibility and productivity
  • Increase speed of business processing by automating time-consuming manual tasks, and sending critical data directly to other line-of-business (LOB) applications
  • Keep track of the status of contracts, invoices, and other critical documents to improve business focus and employee productivity

Control

  • Maintain information accuracy and consistency by eliminating human error from hand-keyed data entry, and manual document sorting
  • Instantly know where all documents are at any given time and never lose one again
  • Ensure complex files are securely processed and use e-signatures to approve documents more quickly and easily

Money

  • Reduce your cost per document processed by managing files electronically
  • Bypass process delays to avoid fines, earn early payment discounts, and reduce operating costs
  • Save money on new-hires, paper, printers, ink, and storage by automating all paper-related business processes

“Automation tools and systems could take on tasks that would be equal to the output of 110 million to 140 million full-time equivalents. It is possible that this incremental productivity could have as much as $5.2 trillion to $6.7 trillion in economic impact annually by 2025.” — McKinsey & Company, McKinsey Global Institute 2013

What Problems Can Automation Tools Solve?

What if you could start and finish routine tasks automatically, rather than spending hours hand-keying data or walking files around the office? Any expensive manual task can be alleviated by process automation that puts technology to work so you don’t have to.

  1. Replace Manual Efforts and Routine Tasks
    How much time and effort does your organization spend on manually entering data or hand-delivering documents? How much valuable, productive time could be re-prioritized if these processes were automatically completed? Using RPA, you can replace human-centric processes to streamline on-screen efforts and increase efficiency for your entire enterprise.
  2. Improve Information Accuracy

Are you wasting time fixing errors from hand-keyed data entry and manual document indexing? AI advances data processing because it is able to recognize, classify, and extract critical business information automatically. Implementing this technology increases data recognition accuracy across the enterprise.

3. Customize Processes with Easy Setup

Are you tired of automation solutions that are arduous to setup, and still do not perform to meet exact business needs? Your automation solutions should not require complex setup, instead they should be instantly ready to automate the flow of your critical information with consistency, accuracy, and speed, and be highly customizable to automate any business process.

4. Accelerate Processes and Inform Decisions

Your decisions are only as good as your data. If you could increase the speed and accuracy of data processes, wouldn’t it be easier to make informed decisions? Automation technology advances document classification and data extraction, and RPA bots automate repetitive data entry and search, reducing processing times across the enterprise. With the addition of workflow software, all information routing in business processes is instant, enabling quick and informed decision making.

5. Enhance Employee Productivity

Do you have expensive full-time employees burdened with data entry, document sorting, or similar mundane responsibilities? Process automation tools empower employees to prioritize their abilities beyond mundane tasks, and toward big-picture innovation. With the addition of workflow software, managing big-picture goals is simple with automatic information routing and tracking to streamline team assignments.

6. Reduce Operating Costs

Why spend unnecessary costs on labor, printing, paper, or storage when you can save millions with automation solutions? Process automation technology, RPA tools, and workflow software help any sized enterprise move toward a paperless business, which eliminates new hire salaries for paper filing, document storage fees and even filing cabinets. This reduces spending on printers, ink, and paper itself.

*Forrester 2017

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