3 Areas Where Automation Can Help Reduce Errors and Increase ROI
With all the talk about robots replacing humans, the idea of integrating automation into your workplace may seem like a step in the wrong direction. But automation isn't the enemy. It's a powerful cutting-edge resource that can optimize any business process, help reduce costly errors and even maximize ROI. Recognizing the value behind this technology could be the boost that your company needs to finally achieve those important important growth/revenue milestones.
Banking & Finance
Businesses that handle money and sensitive client data, can't afford to have sluggish or error-prone processes. A great automation service can provide you with a complete front to back end solution, allowing you to automate everything from the account opening process to consumer lending procedures.
Some of the most advanced intelligent automation companies have banking and financial automation products that can verify client identity and protect against money laundering. Backed by sophisticated machine learning algorithms that are trained to detect data outliers, these automation tools are designed to offer the highest level of data analysis. With costly errors and oversights significantly reduced, your company's efficiency and ROI are sure to increase.
Quality Control
According to the American Psychological Association, switching between tasks can cause a reduction in productivity of as much as 40 percent. As productivity declines so too does the quality of the work produced. In a work environment, even seemingly small errors can result in costly consequences. Tools like WorkFusion's Robotic Process Automation (RPA) let you automate applications and popular software resources such as Citrix, Office and SAP.
Everything from menu navigation to tedious copying and pasting can be set to autopilot, ensuring that no detail or quality measure is overlooked. The ability to implement industry or company-specific quality control rules eliminates the need for employees to perform inefficient repetitive activities. You can even implement business process management and audit trails for the highest degree of control over your automation as well as any manual tasks.
Workflow Process
If it ain't broke don't fix it, right? Wrong. A forward-thinking company should always be on the lookout for ways to optimize their processes while improving efficiency and ROI. A study conducted by M-Files found that the average employee spends anywhere from 20 to 40 percent of their time looking for documents, with 18 minutes per document the norm.
A more streamlined workflow process, like that provided by automation, could eliminate this loss in productivity and improve the cost effectiveness of each workflow process. The best automation solutions can configure even the most complex workflows with easy-to-use drag and drop aid. You'll also be able to detect errors and prevent problems before they occur with customizable exception-handling and pre-installed robotic and cognitive functionality.
Errors and inefficiency cost companies millions each year. But the right automation solution can make these problems a thing of the past and give businesses, big and small, the ability to achieve what was previously thought impossible.
