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Business Automation – A Bespoke Business Solution

Business Automation – A Bespoke Business Solution

Introduction
What exactly is Business Automation?
Why do You Need Business Process Automation?
What Does Business Automation Do?
Benefits of Business Process Automation
Summary

Introduction

Over the past few decades, process automation has touched most industries. From manufacturing to sales and distribution to software development, business process automation helps streamline and automate the redundant multistep business processes to have a simple approach toward working and attaining digital transformation.

It encompasses integrating applications, restructuring labor resources, and using software applications throughout the organization. Artificial intelligence (AI) and machine learning (ML) are game changers when it comes to automating business processes. Also termed as “intelligent automation,” AI and ML are revolutionizing how humans and machines interact, thus increasing business efficiency, and driving revenue in challenging markets.

What exactly is Business Automation?

The term business automation refers to the use of technology that performs repetitive tasks, freeing employees for a more productive approach. It includes business process automation (BPA), robotic process automation (RPA), and AI-powered automation.

According to Wikipedia, Business Automation or Business process automation (BPA), also known as digital transformation, is a process of technology-enabled automation of complex business processes.

Today, Cloud Based business process automation platforms put functionality within reach of companies of all sizes. Automation no more means huge mainframes and a team of experts to maintain them.

Automating existing business processes with the help of game-changing technologies would free up resources. That is why companies globally are spending on digital transformation.

This year, global digital transformation (DX) spending is projected to reach 1.8 trillion USD. In the next three years, it is expected to reach 2.8 trillion USD as per Statista.

In this article we will explain the importance and need for business automation in today’s fast-changing business process landscape and how it can help your enterprise be more profitable and productive.

Why do You Need Business Process Automation?

Business process automation helps streamline various business operations. Therefore, they help in spotting and eliminating repetitive tasks. This is where BPA tools and software come in.

Akkomplish offers customized solutions for all your business automation requirements through a smooth digital transformation journey and customized app development solutions wherever needed.

We help you manage your projects, processes, knowledge/intangible assets, workflows, and dataflows. Predominantly banking, telecommunications, health care, and manufacturing industries require a business automation solution. But with the advancement of digitalization and AI in all sectors in recent years, all businesses are eligible for business automation.

As per Acumen Research, the Global Automation Software Market was valued at USD 19.9 billion in 2021, and it is projected to reach USD 76.4 billion by 2030. It is believed to grow at a compound annual growth rate (CAGR) of 16.5% from 2022 to 2030.

What Does Business Automation Do?

A business automation partner will help in the programmatic integration of your software applications to automate workflows /procedures across departments so that they can run automatically without human interaction. Business automation emphasizes entire processes rather than jobs such as form-filling or recordkeeping.

SMEs will look for an advanced automation solution for processing their payrolls or keeping track of inventory.

We analyze the entire business analogy from your current standard process for the bespoke solutions that we offer after a thorough fit-gap analysis.

Which Business Processes can be Automated?

Any rule-based business process with clearly defined steps can be automated. Some such examples are:

Employee Onboarding
Screening Against PEPs and Sanctions Lists
Document Routing
Invoice Processing
Data Entry
Data Deletion
Transaction Monitoring

Benefits of Business Process Automation

Business process automation is a way to increase organizational efficiency by leveraging digital technologies to carry out all business processes with minimal human intervention.

Cloud Based business process automation allows employees to focus on value-based activities rather than assigning repetitive tasks to machines.

Automation toolsets may vary in sophistication, but the use of artificial intelligence technologies comprehends the natural language and unstructured data sets and deals with new problems without human-guided training.

Some process automation benefits are as under:

Improves Time Efficiency

Business process automation saves your precious time and facilitates efficient work. Businesses can rely on software for completing recurrent, rule-based tasks and focus on tasks that demand critical thinking and creativity.

Amplify Your Revenue

Manually performing routine processes that do not create value for customers leads to a loss in profits. With automated processes in place organizations can increase profitability by delegating mundane tasks to machines.

Higher Productivity

Organizations that rely on technology to automate their processes and increase their productivity. Our experienced consultants at Akkomplish audit your current business processes and curate the best solution for your business process automation, thus enhancing your productivity.

There is scope for automation everywhere.

High-Performance Efficiency

Customized automation solutions help businesses accomplish tedious tasks with minimal allotted resources. They can attain reliable results at a lower administration cost, hence improving their efficiency manifolds.

Minimized Errors

To err is human. By that rule, the most skilled employees are prone to make mistakes. Cloud-based process automation tools and techniques leave no space for such errors thus improving the quality of performing routine tasks.

Standardization of Processes

Different apps or automation tools may perform the same processes in different ways. These may not always be ideal for your business.

On the contrary, process automation solutions will follow the same steps to accomplish tasks and never stray from the defined rules. Business automation helps standardize processes with consistent results, increasing transparency across departments and branches.

Auditable Records

Automation solutions record all steps in an audit trail to track each step of the process. Audit trails promote accountability and data security and help companies demonstrate compliance in the case of official controls.

Enhanced Compliance

Automation of business processes also simplifies regulatory compliance. Automation brings in encryption and role-based access control, thus helping companies meet the GDPR’s (General Data Protection Regulation) data protection requirements. Automatic data deletion enables companies to fulfill legal obligations regarding data retention.

Improve Scalability

When in growing or expanding stages, manual processes will hamper scalability. For instance, manual invoicing would need more resources than automated invoicing. Automated processes are also scalable as machines can perform multiple tasks much faster. Automation of business processes helps to handle significant increase in workload, demand, and customer base.

Superior Customer Experience

Get the correct technology for business process automation to streamline your processes and reduce manual errors. Automation not only leads to faster lead processing and delivery, but it also rapidly identifies and addresses customer inquiries, thus reducing wait times. BPA helps businesses provide a superior client experience through faster response times, data-driven personalization, and consistency across different channels.

Summary

There are a lot of options in terms of tools and automation apps that businesses can choose depending on their short-term and long-term business objectives.

Identify the key areas to focus your attention and resources and choose the right automation partner that will understand your transformation needs and suggest the best possible automation solutions.

Akkomplish Consulting is a business solution provider that deals with Cloud computing, Big data, and AI/ML automation solutions across various platforms.

We help clients gather data on current processes and identify workflows that can benefit the most from automation solutions we offer.

We also analyze and suggest improvements in the current processes to optimize them for cost efficiency before automatizing the entire workflow.

Contact Us to learn more about the entire business process automation in a simplified manner and what customized development our consulting can offer to expedite your digitalization journey.