Why consider investing in automation initiatives? This is one of the common questions enterprises baffle with. Productivity improvements, reduced cost, less manual intervention are some of the obvious benefits that we often tend to hear about. But automation offers a lot more than this. It helps carve out opportunities that go beyond just automating.
The intelligent automation that combines the capabilities of robotic process automation, artificial intelligence, and humongous data in a precise manner is a potent technology. It can automate complex tasks in a more adaptable way with improved cognitive abilities.
Mentioned below are some benefits of intelligent automation that impact the bottom line of businesses.
#1. Cost Savings:
As reported by Mckinsey, companies embracing 50 to 70 percent automation achieve a 20-35% increase in their cost efficiencies which transforms to ROI enhancement by three folds. Another report by KPMG revealed similar statistics. They observed that automation in financial services companies can increase cost savings by 40-75%. Thus, all these observations reveal that simply process automation can result in a 6-7 times increase in ROI. It can save employees from manual work worth years.
#2. Quality customer services:
Automation in the customer service segment can bring appreciable transformation. From offering the right interaction to handling repetitive manual tasks, intelligent automation can save drowning businesses failing in customer services. The predictive analytics enforced through intelligent automation can be put to use for offering personalized recommendations to customers. This can have a great impact on improving sales and Net Promoter Score. The higher is NPS score, the better is your customer loyalty. So, if you want to tackle prevailing customer service issues, intelligent automation is a go-to option.
#3. Improved Employee Satisfaction:
By eliminating repetitive work, intelligent automation allows your employees to focus on higher-value tasks. Consequently, your staff will feel more engaged with their jobs. Moreover, IA also has a great impact on enhancing employee decision-making. Using intelligent systems they gain an insight into data patterns. Thus, combined knowledge secured through process mining and data analysis adds to employee satisfaction, and hence job success. It empowers your employees to attain career goals and benefit your organization in the long term.
#4. Enhanced productivity:
Better productivity results in enhanced efficiency and efficiency transform into cost savings. Since intelligent automation works to remove inefficient processes, it results in higher output through limited resources. Predictive analytics assists your staff with better decision-making. Thus, by freeing up your employees from repetitive lower value work, they get the opportunity to explore new markets with higher revenue potential. And this increased effectiveness paired with minimal errors directly impacts your business’s ROI.
Hence, intelligent automation is not just a short-term fix. Rather it is an initiative to uncover the true ROI of your business to help it achieve long-term, bigger goals.