The robots are coming...
David Threlfall
?? Fractional and Interim CIO / IT/ Programme Director - for organisations that don’t need, can’t find or don’t actually want a permanent IT leader.??
Ok, sorry to disappoint, I'm not referring to robots akin to ‘Robby’ but ‘Virtual workers’ utilised by Intelligent Automation technology, which is a combination of artificial intelligence (AI) and Robotic Process Automation (RPA).
This technology is becoming much more cost effective and functionally rich, allowing any size or sector of business to automate processes without the need to make changes to legacy systems.
Process automation can provide several key benefits to businesses, particularly in the most challenging of financial conditions.
Remaining competitive and viable
Given automated systems can often complete tasks more consistently and faster than human workers, this creates opportunities for businesses to either significantly reduce labour costs or free key resource for more value-added activities. This can be particularly important in difficult financial climates when businesses may need to be lean and effective to remain competitive and profitable
Increasing productivity
All businesses, (and UK PLC!) need to strive for increased productivity. Automated processes typically can operate around the clock, not limited by human working hours. This can result in increased productivity, accuracy, and efficiency, which can in turn lead to improved profitability.
Enabling business growth
Automation enables businesses to scale up their operations without the need for proportionate increases in labour. This is particularly beneficial for businesses experiencing M&A growth, even during a difficult financial climate.
Attracting and retaining talent
With automation taking care of routine or mundane tasks, employees can engage in more strategic, creative, product and customer-focused tasks.
With the best of talent in demand, providing a more challenging and rewarding career is extremely attractive to job hunters and very important to employees.
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Data analysis
Automated systems can often provide detailed data analysis and reporting, which can provide valuable insights for decision-making. In a challenging financial environment, this can help businesses to make more informed decisions and identify areas for improvements.
Customer experience
Automation can improve the customer experience by enabling faster, more efficient service, reducing waiting times, and ensuring more accurate responses to queries. This can lead to higher customer satisfaction and loyalty, which can be critical for maintaining revenues in a challenging financial climate.
Business continuity and security
In uncertain times, automation can provide a level of stability and predictability. Automated systems are less susceptible to unexpected disruptions like illness, vacation, or staff turnover.
Of course, implementing intelligent automation is not without its own set of challenges, including the cost of implementing and maintaining the integrity of such systems, as well as the need for thoughtful change management within the organisation.
So, despite the disappointment of not having Robby in the office, the benefits of process automation, especially in difficult and uncertain economic times, should not be ignored.
Bridging Tradition, Reimagining Success & Championing Leadership Co-Founder & CRO at RE Partners
1 年David Threlfall Are you ready for the wave of process automation in this financial landscape?
Senior Managing Director
1 年David Threlfall Fascinating read. Thank you for sharing.