There was a time when many of the business functions of companies were once completed using manual labor.
Due to a lack of technological invention and know-how, there was a gap in meeting business needs, such as achieving the best results with minimal effort in terms of cost savings, reduced time, and better manageability.
This is when Business Process Automation (BPA) comes into play. It addresses the exact problems businesses today and back in the day faced when trying to maximize efficiency and productivity for overall operational excellence.
Let’s talk about business process automation, its benefits, and how important it is to a company’s success.
The Function of Business Process Automation Software
In simple terms, a business process is a group of tasks to be performed in a certain order for achieving a goal. The first step in getting started is to define your goal and the steps to achieve it.
The software allows users to create a conditional workflow with formal guidelines that triggers the steps, e.g., before being sent to a large number of signatories, a contract must go through several approval steps. Then the original sender gets back the digitally signed document.
Settings can be changed to direct the document to a different route in case approvals, or signatures go missing. If this process is done manually, it will take a week or longer, depending on where the parties are situated. BPA cuts down the processing time to just a few hours. Examples of BPA include employee onboarding, audit reports and attestation services, and onboarding of clients for banks and financial services.
The Role of Business Process Automation Solutions
There are numerous alternatives available when it comes to company automation. Because company processes can appear intimidating at first, you can rely on in-house solutions. You can also rely on third-party software that has proven its effectiveness based on its success in the market. These third-party business process automation tools offer advantages as well the freedom to choose from various tools that will best suit specific business needs.
There are companies like Bailey, which exist for the sole purpose of replacing human labor using automation services so that the employees of these companies don’t have to be burdened by unnecessary tasks. These services, thanks to technological advancements, can now automate your organization and maximize outcomes in the easiest way possible.
The three main benefits of such BPA software are:
- Easy setup – Without the need for an IT department, the software provider builds, installs, and maintains the program.
- Online accessibility and flexibility – You will have full control of your processes by just having an internet connection. The provider hosts the software on their own servers and makes it accessible across all your devices.
- High level of security – Intrusion by hackers into your network won’t affect your business processes and data. Rather, your business activities and good performance will continue as you provide service.
Benefits of Business Process Automation
Although BPA will result in a rise in unemployment because manual tasks have become redundant, it guarantees consistency, fewer errors, and cost-effectiveness of business processes. There are many benefits of such a revolutionary business approach. Read on to know the key benefits:
Saves Employees’ Time
BPA promises to save employees’ time by taking over administrative tasks, such as searching for information, approving paperwork, and processing documents. The best part is the tasks are completed faster without any error. This will allow the employees to engage in tasks that require logical thinking.
Reduces Costs
Companies that switched from manual business processes to automated business processes benefit in terms of minimization of errors, reduced costs, and increased profits. Such costs are incurred because of inefficient business processes that cause a loss in profit and an increase in costs to fix such issues.
Increased Productivity
It is possible to handle multiple processes simultaneously by letting digital solutions take over cumbersome tasks that will lead to higher productivity. Besides, employees will have a better work experience because they can involve themselves in tasks that aim to generate revenue.
More Efficient Business Processes
A business process can prove to be efficient if the desired outcome is achieved with little to no effort. BPA further ensures efficiency by performing a series of predefined tasks whilst maintaining consistency so that there is no scope of deviation. Automation translates into an improvement in quality and communication, greater visibility, and more efficient management of tasks.
BPA software replaces notes, calls, and emails with more modern solutions –that is part of its package. It helps in monitoring the progress of a team’s tasks so that deadlines can be managed and collaboration can be streamlined. Moreover, details aren’t lost in translation.
Minimization of Errors
Automating errors does wonder because, unlike machines, humans are prone to making errors and manual slip-ups regardless of how skilled and capable employees are. A reduction of risk in error will help to avoid redundant operations and makes the process smoother.
Processes are Standardized
Manual processes should be designed properly in the initial phase. Otherwise, the involvement of stakeholders and employees can make it quite messy. The reason could be because everyone has their method of doing things that they are habituated with.
Automation processes open doors for standardization because it is performed as a consistent workflow that systematically follows defined steps till a standard outcome is reached every time.
Although the changes to be made will depend on the individual business workflow, harmonization will be the main benefit for every business. Therefore, critical steps will be unmissed, and documents won’t be lost.
Auditable Records are Provided
Each part of the automated process is recorded in an independent audit, which allows you to follow the papers involved, map out the process, and see who did what and when. This sort of control not only enhances accuracy and reliability but also offers the company auditable and retrievable records of each business workflow.
Compliance is Ensured
Automation is more than just about defining a couple of rules for routing documents. It also involves setting up security measures, protecting confidentiality, and retaining methods for personal data. Automation ascertains better compliance with relevant regulations because everything can be traced and is under control.
Better Customer Service is Delivered
Customers are always looking for convenience and fast access when comparing different providers. Automation enables services that are faster, more precise, and of better quality for clients. Moreover, customers can be assisted with ease when their information can be retrieved instead of wasting time going through papers. Fulfilling the promised quality of operational excellence that will aid in creating trust, commitment, and competitive edge is what drives happiness and pleasure.
Increased Scalability
The scope of work intensifies as the client portfolio expands and there is an increase in the number of employees. BPA takes care of the problem of manually issuing a few invoices up to a thousand. The same applies to other business processes that are labor-intensive, e.g., hiring new workers or taking new customers onboard. Automation also addresses the shift in business needs and brings change to regulatory requirements. Thus, scalability performance is improved when businesses are automated.
Conclusion
BPA has proved time and again about the small yet significant changes it brings to business functions that will have a positive effect on every facet of an organization regardless of which industry the business belongs to. It has automated monotonous tasks that were once burdensome to a typical employee and has given them immense satisfaction when performing their job roles because of increased critical thinking and a variation of challenging tasks that require strong human intellect.
Employees are most likely to stay back and take every obstacle as a challenge to overcome. Moreover, companies and organizations will greatly benefit from increased productivity and efficiency because cost and time will be saved, thus generating more revenue than ever before.
