Business

4 Reasons to Automate Processes in Your Business

If you aren't yet automating your business practices, it's time to start.

If you aren’t yet automating your business practices, it’s time to start. According to McKinsey, approximately 45% of business activities currently paid could be automated with existing technology, saving companies up to $2 trillion globally.

However, cost savings is just one advantage. Read on to discover additional benefits of automating processes for your business.

4 Benefits of Automating Your Business Processes

Automating business processes offer distinct advantages for employers and employees alike and companies as a whole. Discover the benefits below!

1. Improve Organizational Efficiency

Automation isn’t for the future. Many existing cutting-edge innovations allow for significant automation now. Here are some of the tasks you can automate:

  • Marketing tasks like media monitoring, social media management, and website traffic tracking.
  • Distribution and logistics like tracking, labeling, and shipment routing.
  • IT and technical services like problem ticketing, self-service reporting, and maintenance and status reporting.
  • Administrative tasks like time tracking, payment processing, employee benefits enrollment, reordering stock, and more.
  • Financial duties like payroll, invoice reminders, and paying bills.
  • Customer service can be partially automated using chatbots and automated emails.

By automating these tasks, it’s possible to improve operational efficiency, allowing for a more streamlined, well-organized company. This is just a tiny sample of what you can automate these days, not an exhaustive list.

2. Save Employees’ Time and Improve Productivity

Many employees worry that automation will replace their jobs and are thus adverse to embracing this change.

However, the point of automation isn’t to replace people. It’s about taking basic, repetitive tasks off workers’ hands, freeing their time to focus on more complex jobs that bring more value to the company.

Currently, office workers spend an estimated 69 days on administrative tasks every year. In terms of global productivity loss, this equals $5 trillion per year. Automation can help save workers’ valuable time and cut these exorbitant expenses.

This can also enhance productivity. When workers don’t get bogged down with administrative duties, they can get more done every day. Plus, they can focus on more interesting, challenging jobs. Eliminating repetitive tasks can thus also help boost worker morale.

3. Enhance Business Insights

Automating tasks is also helpful because it allows for more granular data collection and analysis regarding a company’s business operations and overall performance. Companies can then use this information to make positive changes and drive success.

Take website tracking automation as an example. A business can monitor how many people visit their website, where they click, and what they buy—all using automated tools.

This allows for insights into what web content is performing well (resulting in conversions) and what content isn’t seeing great results. The company can then tweak its web content accordingly. The same can be done for social media.

Businesses can also use automation to improve projections. Artificial intelligence, AI, and machine learning play a significant role here. For example, predictive analytics software can automatically generate reports regarding future sales based on historical data.

Such technologies will improve, offering even more opportunities for gathering valuable business data. A whopping 84% of executives and analysts expect that AI will be beneficial in helping them maintain a competitive business advantage in the future.

4. Cost Savings

All of the points above add up to one major asset of automation: cost savings. Saving workers’ time and streamlining repetitive tasks with automation means greater productivity for companies, translating to greater profits.

Take marketing automation as an example. An estimated 80% of companies that utilized marketing automation reported increased leads, while 77% reported increased conversions. More leads and conversions mean more money.

Customer service is another excellent example. Excellent customer service keeps customers happy, which allows businesses to build a loyal consumer following.

What’s more, consumers are willing to pay more for an excellent customer service experience. Again, this translates to greater profits. At the same time, automation tools like chatbots allow for cost savings by reducing the burden on human customer service teams.

The Final Word on Automatic Business Processes

Automating business processes can benefit companies in many ways. What’s more, it’s not only the business as a whole that benefits but also the individual workers. Overall, automation means better employee morale, greater profits, and increased success.

Setting up the automation of business processes may take some initial time, money, and effort to start. However, as the above article hopefully makes clear, it will be well worth it.

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