Business process automation (BPA) is a way to manage information, processes, and data with technology in order to reduce costs for a business. Because of its success in many enterprises, BPA is a growing market. There are many ways to make money or reduce spending using BPA, including through the following five business process automation benefits:
- Comply with Regulators ─ Many businesses are required by law to comply with regulations like Sarbanes–Oxley, PCI, and HIPAA. IT staff can be pushed to the point of no return, especially if more than one regulation must be complied with. IT departments can use BPA and application integration in order to help coordinate and present information to auditors, along with providing encryption in order to make processes compatible with security regulations and to safeguard data. Failure to comply with regulations can end up costing companies in a big way.
- Move Tasks out of Microsoft Excel ─ Excel spreadsheets are used by many companies (small and large) in order to track things like scheduling and hours spent on a job, but as a company grows, Excel can become ineffective, taking many people a lot of time to accomplish tasks. Automating scheduling allows businesses to minimize their time and manpower on spreadsheet development, entry, and maintenance, providing time for team members to focus on other important projects.
- Redirect Employee Efforts ─ With automation, human capital can be redeployed to other projects that can provide profit for organizations. For instance, instead of sales managers spending time filling out sales reports by hand, the reports can be automated using a CRM system or another tool. Sales managers can then spend more time training new employees, allowing more “feet on the street” sooner.
- Reducing Manual Labor Costs ─ When people perform tasks, like document management, it can be tremendously time-consuming and prone to errors. Automating processes can save time and improve accuracy, which can in turn save money. By redeploying human capital to more profitable projects, revenues can be increased. According to recent research, U.S. workers spend up to 38 hours each year trying to find manual documents that have been misplaced. If a worker earns $20 per hour, automating document management can save a company $760 per employee each year.
- Get Crucial Information ─ Automation tools can provide more elaborate reporting and tracking tools for companies that need important data in a timely manner. With information readily available in reports that can be run when needed, processes can be updated and tweaked whenever the company deems necessary. This can help organizations meet their goals in a timelier manner, giving them a leg up on competitors.
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