Digital transformation is a massive part with multiple moving parts. But where should companies start their work? Which initiatives are to be taken? More than 50% of companies say that their topmost priority is monetizing the IT infrastructure to enhance agility, manageability, flexibility, and security. However, 40% of people are improving operational agility, and updating their processes is crucial. For that, business process automation comes in.
Areas of Use for Business Process Automation within Business
The business owner does not have any clear vision of what processes and work systems they can automate at their workplace. Due to this lack of awareness, businesses are postponing adopting business automation and waste their time and money by repetitive processes, poor compliance, and low employee productivity.
But to automate a business process, it can use in almost all departments with varying levels of inventories. Some of the particular areas are:
1. Human Resource Management
The human resources work includes a lot of paperwork, attendance tracking, and it is a time-consuming process that can automate. Human resource BPA involves automating workers’ onboarding administration, payroll, and time management. The HR automation system can manage and store employees’ profiles, attendance records, and schedules.
However, payroll automation will reduce the chances of errors in payroll calculations and manage payroll for tax purposes. So, seeking professional help, this automated evaluation system can help the employees evaluate the performance and enhance it. Most of the organization is using some of the other payroll systems, but integration is missing with attendance tracking, etc.
2. Data Management and Book Keeping
Most companies are facing difficulties with improper data management and consolidation. Because of this, the accounting teams are failed to provide important decision–making inputs to business owners. It also ensures that accounting teams are spending their time on mechanical data and manual financial consolidation adjustments.
BPA implementation helps the companies automate updating of journal entries, audit trails, create a financial checklist, tally transactions with general ledger, check account balances against identified discrepancies, and provide alerts on mismanaged bills.
Integration of accounting and HR management applications helps in further automating companies’ payroll expenses to understand the department-wise costs.
3. Sales/CRM Process
The sales automation will minimize the cost of sales via better outreach to customers in the sales funnel. The BPA implementation company will facilitate in automating the sales process across sales groups, distribution channels, and customers. It will also make their work easier, like updating contact data and managing calendars and opportunities. Work like call logging, filling, and hands-off can automate for time-saving purposes.
This sales automation work can minimize the entire cost reduction by about 15 to 20% and reduce order processing time from confirmation to delivery.
Usually, finance-related tasks depend on manual, repetitive, and time–consuming tasks. The finance-related work includes invoice management, financial data management, budget and financial projection, and more. These works are the leading candidates for automation because of their high–structured nature.
BPA automates the work process of financial management to minimize the likelihood of errors and frauds, achieve efficiency, fulfill compliance and save time. It says that companies can automate 42% of their financial department work with the help of automation technologies like BPA and RPA.
Few finance-related tasks that BPA can automate are:
- Payroll processing
- Purchase orders
- Tax regulations
- Invoice and accounts receivables
5. Customer Support
However, the involvement of people in customer support can’t be eliminated. Professional automation companies will save time and cost to the organization and enhance customer relationships. Also, the use of automation to renovate customer experience will save up to 40% on service costs. The automation will provide 24×7 hours of customer support and complete support in manual work requiring more people for the shift-based position.
Customer service automation helps consolidate and manage customer problems related to product and brand building, so customer service automation can also accommodate those who prefer digital channels for customer support.
As a result, Business Process Automation is rapidly becoming a crucial tool to assist companies in controlling their operations and growth. The benefits of automated strategies consisting of more transparency, reduced costs, improved worker productivity, and client satisfaction make them perfect for adoption through companies that look to enlarge their business area and bottom line.
BPA is now not considered a threat to human employment however is considered a synergistic device that allows human employees to concentrate on less mundane, higher-value tasks consisting of business development and different activities that contribute to company value.