Business automation: The future of business

What is business automation?

Business automation or business process automation is a method of performing repetitive tasks of a business through the use of technology to replace manual labor. This minimizes costs, increases efficiency, and saves a lot of valuable time. This also ensures that these tasks which can often be mishandled by human beings simply because of their nature will all be conducted perfectly with the use of AI and other technologies.

While human beings like to be creative in their work and look for some level of diversity and aptitude challenges, repetitive day-to-day tasks simply don’t provide them with this. So, we are not as efficient or dynamic when it comes to these tasks. However, when it comes to artificial intelligence and machines they are the most effective when it comes to activities like these. This is why modern technology has introduced us to business automation. It is a way for businesses to adapt to 21st-century technology and rapid customer demands.

What businesses can be automated?

Pretty much any business that involves paperwork without any form of logical or creative thinking can be automated. Services such as customer support, different financial acts such as payroll, receipts, and paying bills, and many such activities can easily be automated and thus can help use the human mind and intelligence for more efficient users.???

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Benefits of business automation

• Saves time

Saving time is the principal benefit and the key aim of introducing business automation. A study revealed that workers spend approximately 2.12 hours every single day on administrative tasks such as approving paperwork, searching for information and tasks, and similar activities. This, in essence, takes away 25% of the worker’s time in activities that can easily be done in error-free methods with the use of business automation.

• Helps reduce costs

According to a study, organizations lose 20 to 30% of their revenue every year Due to inefficient processing. This lack of efficiency cannot be improved significantly as long as these tests are run by human beings. However, the use of business optimization not only ensures perfection but also saves time and does help cut unwanted costs.

• Increases productivity

Business automation helps increase productivity drastically in two main methods. Firstly, cumbersome tasks are handled by human beings one at a time. Despite multiple elements of the same task being repetitive, we can still only do one at a time and ask for our productivity weekend at best hope for our speed to increase as we keep doing the same things over and over again. When digital platforms are used to do the same task the scenario is different. In the case of the same tasks, these platforms can do a big chunk of these works at the same time and thus increase productivity. Secondly, if we get human beings out of these tasks we can use their complex brains for more creative activities such as branding strategies, financial management strategies, revenue generation, and such. Humans are not only irreplaceable when it comes to these aspects but they’re also the best at it.?

• Error minimization

It is not a matter of how skilled human beings are, errors are still a human characteristic. This characteristic, however, is not shared by machines. So we can use digital methods to do these repetitive activities for maximum error minimization.

• Standardized processing

A process managed by human beings that involves a lot of employees and stakeholders often tends to get cluttered. Every individual has a different filing method and way of completing certain tasks. This makes it hard for a standardized process to exist. With the machine, however, everything can be standardized and thus consumers and employees alike can be familiar with it.

• Auditable records and compliance

Standardized processing as mentioned above also ensures that every action and information is audited and recorded. This ensures that companies can track their progress, sales and conduct every form of audits with perfection. Business optimization also includes complete anonymity and security for these activities.

Challenges of business automation

• Worker displacement

Business optimization will also take away the jobs of millions of day-to-day workers. This will leave many people jobless as not everybody has the skills or qualifications to conduct and run aptitude and logical thinking-based activities.

• Expensive

Basic business automation tools are also still very expensive all over the world. While human beings can be paid a reasonable amount to do these works, it is a whole different expense when it comes to introducing machines for them.

• ?Limited capacity

While machines are the best when it comes to repetitive tasks, they cannot think logically. So, they have no sense of adaptability as human beings do. For example, spell check is software that can track grammatical errors that have already been preprogrammed. It cannot, however, track language anomalies and certain other irregularities.

• ?Security

Cyber security is still a big concern in most countries all over the world. When we get dependent on machines to handle sensitive matters such as finances, monetary transactions, transferring of confidential files, and search there is a massive security concern as any program and software is prone to get hacked.

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Examples of business automation?

• Employee onboarding
• Audit reports and attestation services
• Client onboarding for banks and financial services
• Data handling and process tracking

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Conclusion

While the process of business automation is still new and relatively unfamiliar to certain groups of people, it is still the future of modern business, and companies and organizations need to adapt to it to survive the future. So, consumers, employees, and companies alike should adapt to these methods and learn to coexist with machines and use them for our benefit.