BPA (Business Process Automation) aims to automate day-to-day IT processes and business functions to increase efficiency, reduce costs and ensure seamless operations. According to Markets and Markets report, the global business process automation market is expected to reach $19.6 billion by 2026, up from $9.8 billion in 2020, and grow by 12.2%.
Various factors such as enterprises’ plans to move their IT infrastructure to the cloud, increased business continuity, and improved business operations have led to widespread adoption of BPA in organizations.
Reduced Costs
When business processes are performed manually, many resources are wasted, and inefficiencies are more likely to occur. According to the report, organizations lose 20-30% of their revenue due to inefficient processes. Switching from manual processes to automated ones minimizes errors. Thus, there is no need to waste time and money fixing problems. In addition, resources are used optimally, and losses are eliminated.
Generali, a leading European insurance company, is one of the best examples of business process automation. It has moved from paper processes that cost it time and money to automated business processes. This has cut the time to complete complex tasks in half and saved up to 90 percent through reusable functions.
Improved Customer Experience
One of the most significant benefits of BPA is its positive impact on your customers, their experience with your business, and how you serve them.
With BPA implemented, you’ll be able to respond effectively and faster to your customers, respecting their time while successfully responding to their requests and wants.
Increase Operational Efficiency
Implementing business process automation software provides several operational benefits. You don’t have to personally keep track of one task in progress moving to another.
In addition, business process automation allows you to identify and eliminate errors and bottlenecks in workflows. This helps improve the efficiency of processes as a whole.
Visibility and Transparency
Through configurable dashboards, automation may increase insight into operations throughout the enterprise. Established key performance indicators (KPIs) for numerous processes may be readily tracked. In-depth process performance reports can provide valuable insights into areas that need improvement.
Automation also promotes the transparency of business processes. It helps teams stay on task and encourages accountability.
For example, global asset management company Insight Investment wanted to document, discover and digitize business processes for transparency. Using customizable dashboards to visualize data, they created a framework for an accountability system that provides visibility to senior management and makes work handoffs more reliable.
Process Transparency
With automation, employees are free from friction to do their jobs effectively. Approvals happen faster, so teams don’t have to waste time waiting and reminding managers. Process transparency helps high-performing employees get the recognition they deserve. The bandwidth freed up by automation can motivate employees to innovate and improve how they do their jobs.
Final Thoughts
Business process automation can help a business go from linear to faster growth. From managing inventory to hiring employees to digitize core processes, you’ll find that streamlined, automated systems reduce manual processing in favor of agile, error-free operations.
Iskedez Solutions experts will offer a comprehensive solution that’s affordable and easy to use. They’ll also tell you about important business process automation features you can incorporate into your software.