A mighty number of businesses fail, both start-up and long-established firms. And if you analyse the failure at its most surface level, these failed enterprises simply ran out of cash. But the truth is, the impending insolvency is often caused far earlier and the downfall can often be traced back to inefficient business processes. In fact, the IDC says that companies lose 20-30% of revenue annually due to inefficiencies.
I think we’ve all worked for organisations where data is entered twice, thrice, maybe more, across different systems. Too much time is spent on pulling information out of systems, referencing multiple software programmes to find an answer, manually doing workflows, battling process bottlenecks. Just typing these elevates my stress levels.
This is where process automation, particularly when it leverages digital, becomes so important. Do you remember sitting with your peers, analysing how you currently do things, identifying the pain points and then mapping out business processes to increase your organisation’s efficiency? It’s ok if you said no, we hear that answer more often than not. This is a such an important process (some pun intended) to go through. Business process automation focuses on building processes from scratch, that utilise technology to complete tasks with minimal manual labour. This stage is a foundational part of creating a more efficient business.
Digital process automation takes things to the next level, by looking at the digitised workflows you now have in place and further optimising these. It’s all about working smarter, not harder. In fact, whilst this may sound like one of the more dry aspects of a digital transformation, it uses some of the coolest digital innovations to make your workday easier. Artificial intelligence, machine learning, big data; they all come together to create the optimisations we see through digital process automation.
Does my business need Process Automation; a checklist
· Do you have departmental silos?
· Do you have poor systems integrations?
· Do you have bottlenecks?
· Do you have process redundancy?
· Do you have poor operational performance?
· Do you lack insight into how your business is performing?
If you answered yes to any of these, then a thorough analysis of your current business processes needs to be performed. Digital business analysts can scour your current processes and look for inefficiencies.They’ll then map workflows that will truly improve your life, and the life of your team, through automation and digitisation. REDD Digital has a team of digital business analysts, equipped to take you through this important aspect of your digital transformation journey. Read more here, or get in touch to arrange a conversation.
Use digital to put your business in the best position it can be, get better vision or just start saving money. Use digital best practice. Use REDD.Get in touch