Businesses have been vocal about automation for quite some time now. The push for automating tasks is strong, considering it can save businesses $2 trillion in wages. No wonder the market of business automation is expected to grow to $19.6 billion by 2026, at a CAGR of 12.2%.
We had exciting predictions for business automation trends, but then COVID struck. However, instead of creating dismay, the pandemic has brought disruptive changes in automation.
Let’s explore how business process automation has changed post-COVID.
Digital Workflow Transformation
IDG Connect highlights the growth of digital workflow transformation as we get used to waves of coronavirus. Remote working was in trend even before the pandemic, but it has become the norm now. Businesses are not losing out, as working from home reduces overheads and boosts employee productivity.
As a result, entire workflows are now undergoing digital transformation and automation. From project management tools to Zoom meetings, we are experiencing a disruptive shift in how we work.
Automation helps in every step of the process, whether it’s scheduling meetings to automate development testing.
Focus on Operational Efficiency
Businesses are forced to reduce their spending to combat the effects of COVID. Naturally, they are now more bent on creating operational resiliency to compete, according to Gartner.
A wide range of tools and processes have come up post-COVID to help organizations tackle unplanned changes. As a result, businesses are trying to automate as much as they can, albeit smartly!
Artificial intelligence and machine learning are now a part of business process automation. Connecting the technologies to big data is even helping businesses expand and offer improved services.
The benefits are reflected in reduced costs and a better bottom line.
Growth of Robotic Process Automation (RPA)
RPA is not new. However, it has taken on a different meaning after the pandemic. According to Deloitte, 53% of businesses were already taking advantage of RPA in 2018. By 2020, this percentage has crossed 72%.
RPA’s returns on business performance are almost unbelievable. You can get back your ROI within a year and enjoy:
A boost in productivity
Businesses suing RPA generally decide to increase their investment to reap more advantages.
The need to go remote is bringing in automation in unique business processes. Now, you can even automate your recruitment and onboarding process or use AI to streamline workflow and recruit better.
Businesses are trying to automate recruitment as employees are working from home. Using AI and machine learning can save time and even hiring costs.
Additionally, you are able to eliminate human bias and select the right candidates that match your needs. You can also bring consistency to your onboarding process and reduce paperwork by automating recruitment.
Business process automation is changing to help businesses stay competitive post-COVID. It is more focused on operational efficiency and cutting down costs. Additionally, new business processes like onboarding are coming under automation. Entire workflows are undergoing digital transformation to suit new ways of working. Contact us to identify and automate your key business processes for uninterrupted growth.