Is Your Organization Ready for Business Process Automation?
Managers exchange the necessary documents in a click of a button, all reports are compiled automatically, financial indicators are analyzed in time, processes run like clockwork and customers are satisfied with services. All you need is to behold the process and give recommendations to your team. If it is not about your company that’s because your business isn't ready for process automation.
It is hard to imagine a well-functioning company that does not use digital technology for business prosperity.
Source: Statista (*in billion U.S. dollars)
Companies try to move with the times and benefit from the unique opportunities that are emerging to improve their business. One of these methods is special software that can facilitate and improve processes. For example, in 2020, the business process automation market is expected to reach 11.2 billion U.S. dollars globally, including both external services and software and internal operational spend.
Why are some companies afraid of automation?
- Sometimes employees don't like working with new software, because they need a lot of time to train. It is easier for them to use existing tools than to learn something new.
- The staff doesn't get explanations about what is the purpose of implementing automation. Moreover, they are not informed about the main automation tasks and how it works for business.
- The company leaders are afraid of integrating the new system becausethey think that it doesn't recoup the investment, and they could lose their money.
What do statistics say?
What is automation revenue?
- Companies lose $140 billion each year as a result of irrational resource use and manual data management.
- 73% of companies that have applied the automation tool are satisfied with the result.
- Companies with automated business processes receive at least 15% revenue growth.
- Brand companies that automated the sales chain boosted revenue by 225%.
Automation helps business grow. However, how?
Automation makes it possible to organize the team and help workers to focus on really important things. When you automate a workflow, each employee is responsible for the assigned task. The online dashboard shows a list of all projects/tasks they are working on. So you can see the whole process and track productivity (how long it takes to perform different tasks and projects) by default.
You must know that time is an invaluable resource. By integrating an online platform, you can track the task status or monitor how quickly team members carry out tasks using the dashboard in real-time. You can track the number of completed projects and see the time needed to cope with each separate task. This is especially useful when your team is working remotely and you cannot monitor each employee’s workflow directly.
Take care of the people you create a product for or deliver services to. The online system collects the necessary information about clients in the database. You can also manage all meetings scheduled, notifications sent, or drop new offers using only one tool. It makes it much easier to communicate with clients because all the information is at your fingertips.
Do you remember how many times you lost the necessary documents by mistake? How much did it cost the company? Now, due to automation, you can form documents, contracts or prepare forms for invoices in several clicks. Based on the previously filled data, the system automatically links the required figures and makes calculations in a matter of seconds.
Masterful work with data
Generally, the online system unifies and normalizes data for processing and analysis. Thus, it prevents mistakes and reduces all risks. So, you don’t need to spend time organizing and sorting them, or creating numerous sheets in Excel.
This is only a small subset of the tasks that automation helps alleviate. After all, by establishing all processes you will not only set order in your business but also increase your competitiveness and not least importantly, your customers will always be happy with timely and high-quality services.
Still have doubts about whether to automate the business? We've prepared something special for you. Have a look at how the Avanga platform helped the insurance company cope with the business hardships.
BPA for the insurance company
If you are interested in full case, you can read it here
Challenge company faced
The main difficulties the company experienced were those with calculating key contract parameters, holding records and reports as well as accumulating data on issued policies and concluded contracts.
The company didn’t have a holistic management model, so it was hard to obtain business results and control the process chain. In addition, the insurance company owns a complex multilevel hierarchy system and the accumulated data were processed through different tools.
Automation result with Avanga:
- Electronic workflow reduces resource expenses and accelerates cooperation among departments or offices.
- Sales managers provide the services through the system and record relevant information of the lead in the database.
- A manager can set a notification to update an agreement or inform a client about the changes in an insurance policy. Automation allows saving all information about each agreement with no human interaction.
- The system provides various access levels within an insurance company. Improved resource safety allow employees to perform process quickly and don't worry about any failures.
- The manager can quickly send invoices to the bank by using API.
- Sales managers can monitor their progress directly through digital reports.
Want to get more info about how to automate processes for your business? No matter whether you are a banking, insurance or construction company, just get in touch with us, and we will tell you more about how to systematize your management and even more!