RPA and talent the key to powering businesses
Article from Konica Minolta, National IT Solutions Sales Manager Seth Butcher.
As companies pivot business models and procedures to cope with the current disruptions, cost optimization becomes an essential process for sustainability. Although most companies have already cut unnecessary costs, they may need to do more to make their business resilient for the future so that they can emerge from the crisis successfully.
A fundamental way to do this is to consider technologies that can be used in the business to streamline processes, reduce costly errors, and keep people focused on important tasks.
Many companies are recognizing the cost and productivity benefits that robotic process automation (RPA) offers. RPA creates a digital workforce that uses machine learning to work autonomously or in partnership with human employees. This combines human creativity and judgment with the reliability and predictability of robots.
Most organizations are under extreme financial pressure to reduce costs. However, there is only so much that can be reduced without affecting business operations and processes. Businesses need to ensure that they remain competitive and continue to provide high quality services or products to their customers. Technological solutions like RPA are the next key to unlocking a sustainable business by reducing costs, streamlining processes and optimizing talent.
With the right technology, businesses don’t have to cut costs as they run the risk of slowing operations or becoming less competitive. Improving productivity and optimizing employees play a crucial role in successful companies. While tedious, manual, and repetitive tasks are essential to keeping the business going, they can be a drag.
According to PwC, an estimated 45% of work activities can be automated. This would save up to $ 2 trillion in labor costs worldwide.
RPA can be used to program so-called bots to automate tasks and create efficient workflows that only require human intervention when something does not match the rules of the task. RPA can do tasks faster and more accurately than humans and can reduce processing time for some tasks by up to 90%. By including RPA in invoice processing, for example, costs can be reduced five times and invoices can be processed 2.5 times faster.
Because RPA takes control of the company’s data side, employees have more time to focus on the other essential tasks in their roles. At the same time, they can focus on the future and use critical thinking, problem solving, and creativity. Employees can do valuable in-depth work without the distraction of tedious tasks, which can improve overall business productivity.
Optimizing costs isn’t necessarily about cutting expenses. It’s about thinking strategically and being smart about where the business money goes. Now is the time for most companies to take the next step to position themselves for a strong recovery by leveraging digital transformation opportunities like RPA.
Technology and talent are an essential combination for a strong company. With these considerations in mind, companies have the tools to run a resilient business that is ready for the future.