Having proved its worth, the Intelligent Process Automation software has managed to win the confidence of business leaders when it comes to investing in the adoption of disruptive technologies. A survey report published by Statista informs, “More than half of business leaders expect to implement work automation in the coming years.”
The conventional business software designed to enhance the efficiency of various processes has limitations. Perhaps, this is the reason why the traditional On-Premises ERP software, at present, lives with only 17% of the total market share approximately. Whereas, rest 83% has been grabbed by the intelligent process automation software, which incorporates the Artificial Intelligence (AI) technologies along with many other.
On the one hand, where disruptive technologies such as Automation, Software-as-a-Service (SaaS) and Cloud-Computing adds to the flexibility of performing business tasks and also reduces the operational costs significantly, Artificial Intelligence (AI), on the other, is defined as “The theory and development of computer systems able to perform tasks that normally require human intelligence.”
An advanced automation software such as Value Creation Automation (VCA), Microsoft Dynamics, Oracle and Sage, for instance, enable businesses in programming the software to perform diverse tasks.
- Supports in the continuous evolvement with the emerging technologies.
- Enables in reading, organizing, analyzing and processing the data for extracting valuable insights and helping in performing day-to-day transactions.
- Helps in recognizing the data-pattern which make the system responsive and also allows the system to analyze, act and respond to a given condition exactly as a trained employee.
The Intelligent Process Automation software makes technology solutions equally affordable for the small to medium and large enterprises. Let’s discuss 10 benefits of implementing an advanced business automation software.
1. Automation of Processes
Advanced business management software uses the automation technology. The software applications are programmed to perform automated functions, resulting in enhancing the efficiency of processes.
For instance, VCA is an end-to-end automation solution. It is designed to automate entire business processes.
- From shortlisting of candidates, Onboarding of employees, preparing the payroll every month-end to the termination of employees — the entire HR process can be automated.
- From procurement, managing stocks, order management, quality check, packaging, dispatching, shipping to the delivery of orders — the entire Supply Chain process can be automated.
Similarly, businesses can automate the finance as well as sales and marketing processes along with the day-to-day tasks and transactions.
2. Efficient Productivity Within Allocated Time & Budget
The work automation is the need of the hour. Having automated entire business processes, Owners, Directors and Managers can analyze in advance the time and the budget that will be required to complete a particular task.
An advanced business automation software puts everything in proper sequence. Repetitive tasks are automated and entire tasks can be completed in one go. Having automated processes, businesses can remain assured that tasks are being completed within the allocated budget and time.
3. Reduced Variation in the Quality of Products & Services
A consistency in business performance is important to gain the trust of customers. Incorporating evolving technologies such as SaaS, an advanced automation solution not only support companies in completing tasks within the time stipulated, but it also ensures that the variation in the finished goods and services remains minimized.
This supports companies in performing consistently and delivery the same quality of goods & services to customers even in the long-run.
4. Minimizes the Error-Rate
When the work is automated, it means that the businesses do not have to be much dependent on the human workforce. On the one hand, it reduces the unrelenting workload of the human workforce, whereas, on the other hand, it ensures that the error-rate within processes remains at the minimum level. Businesses do not have to invest time and money in performing same tasks again and again.
5. Minimizes the Operational Costs
The fact that an advanced process automation software supports in reducing the overall operational costs, is encouraging more and more business leaders to invest in the disruptive technologies.
Most of the advanced process automation software consists of the cloud-computing technology, which requires less IT infrastructure set up, when compared to the traditional On-Premises ERP software. Moreover, there is business automation software such as VCA, which consists the cloud as well as the Software-as-a-Service (SaaS) technology. A SaaS-based VCA business management software allows small businesses in successfully running diverse business operations with almost zero capital requirements.
In other words, a SaaS-based business management software saves companies from paying license fees, building a server, hiring a dedicated IT team and also from investing in the installation of hardware and software. Businesses need to make payment for the software services on the pay-per-use basis and users can be added or removed as the Owners & Directors deem fit to be. All these factors support business organizations in saving the overall operational costs.
6. Complete Business Integration
One of the best features of advanced automation software is that it allows businesses to have the entire performances integrated into one platform. For instance, VCA business software consists of a visual dashboard, which can be viewed using even smartphones and tablets. Business leaders can have instant access to entire transaction details anywhere and anytime.
The visual dashboard, integrates entire business performance into one platform. This keeps people, processes and functions visible and hence it becomes uncomplicated to control business operations, even when on the go. Moreover, with the integration of business performance, an advanced automation solution helps in smooth communication flow, which helps in instant identification and elimination of performance bottlenecks.
7. Optimum Resource Utilization
When the process, people and all the other various functions involved in running a business becomes visible, it allows businesses leaders in identifying the tasks which add no value. Moreover, resources lying idle can be identified too and directed towards achieving common organizational goals.
VCA, for instance, is designed with business models such as Lean Management and Six-Sigma, which supports in making optimum utilization of resources, saving both time and money for companies.
8. 24 x 7 Availability Across Platforms
Businesses can make use of advanced digitized mediums to promote products & services and also in remaining connected to customers. With the continuously growing usage of smartphones and the Internet, customers have become tech-savvy and they love to keep themselves updated round the clock. Customers even expect businesses to be available 24 x 7 and across platforms.
With the work automation, businesses can send automated emails and SMS informing customers about products, services, sales, discounts, promotions and other offers. Automated posts can be made on various social media websites and customers queries can be instantly addressed to through various digitized media platforms. This builds a credibility among customers and keeps them encouraged to remain loyal even in the long run.
9. Intelligent Analytics
According to a report published by Deloitte, “Analytics is defined as the process of finding actionable insights from data.” Incorporating the AI technology, advanced business automation software enables in analyzing the overall business performance, drafting plans for the expansion of business lines and strategies and developing customer-centric strategies.
With intelligent analytics, businesses can be assured of implementing right approaches towards a successful business performance even in the long-run.
10. Helps in Winning the Confidence of Stakeholders
With robust approaches, companies can run a successful business. An advanced business automation software helps businesses in gaining the support of stakeholders. With an enhanced transparency level, businesses can show a clear picture of the overall performance.
It helps in winning the trust of employees, Managers as well as suppliers and manufacturers. On the other hand, with a robust financial performance and with a sound return-on-investment (ROI), companies can also win the confidence of creditors and investors. Moreover, it also helps in ensuring complete compliance with the government policies and other regulations.
Keeping the continuously increasing competition in the mind, the demand an advanced work automation software has accelerated and it is expected to grow manifold in the coming years. Going beyond the conventional boundaries of managing business processes, a SaaS-based process automation software, for instance, is designed to support in more than managing processes. Right from identifying and eliminating the performance bottlenecks, the intelligent process automation software deploys advanced analytics, which supports in analyzing the overall performance, understanding the continuously changing market trends and also in formulating strategies according to the constantly changing demands of the tech-savvy customers.