All companies aspire to stay on budget and achieve cost-efficiency through smart expenditure. While there are many strategies out there to help achieve this
feat—like cutting production costs and modernising your marketing efforts—one of the best and most effective methods is through operations automation software.
Automation typically results in savings of 40% to 70%, depending on your business and type of operations.
What’s important to understand is that cost containment goes beyond hasty decisions to choose lower-cost goods, services, materials, and cutting off marketing funds in a way that affects your productivity, service delivery, and overall customer experience.
Your cost containment methods must be executed in such a way as to not take away from quality standards. This means streamlining operations so as to not incur unnecessary costs and creating a healthy, and productive, work culture that boosts the quality of your end results.
Today, with business process automation software, you can achieve these goals seamlessly with a single solution.
The best part? It can cut down your operational costs significantly using
easy-to-implement processes.
Reduce labour costs
One of the biggest expenses in any business is undoubtedly employee overhead costs. Having your employees work on manual and repetitive tasks, and providing them with the resources to do so, only serves to demotivate your teams and contributes to hours lost without the value addition you deserve.
With operations automation software, it’s possible to replace these tasks with
tech-driven operations and relieve your employees from working on menial tasks that undermine their intellect and consume surplus time and effort.
Instead—with automation in the picture—your staff can work on more productive, big-picture tasks that require human strength and creativity.
Their hours can then be repurposed to involve more brainstorming, innovation, and business productivity strategies which offer up much greater potential for profit.
As your employees spend less time on menial tasks and move on to high-value tasks that respect and develop their skills, they’re more likely to stay engaged and happier in their roles in the workplace.
This, in turn, creates a more productive workforce, leading to higher quality delivery, increased revenue, and improved profits.
Save time, save money
Time is money—and automation helps save both.
Significant delays caused by poor communication between departments or convoluted communication lines is a major reason behind operational inefficiency in a business.
Operations automation software offers a neat solution to this problem as it facilitates movement and seamless communication between employees across various departments.
This improves productivity as the delivery of items speeds up, which also means that follow-ups can happen much faster as well.
Automation is generally known to be a modern tool that enhances the productivity of every department.
For instance, the treasury function at Rolls Royce reduced the time it takes to close their accounts every month from four days to a matter of seconds just by automating their data collection. This translates to four days of labour costs saved.
As the need for human input dips in these repetitive and simple tasks, all business processes are able to flow more smoothly, increasing efficiency, and lowering the costs associated with running your operations.
Reduce human error
Operations automation software also reduces the risk of errors that are a result of human labour.
It is easy for humans to make mistakes when it comes to repetitive tasks, while untiring machines are essentially built to ensure accuracy.
By leveraging automation, businesses will be able to achieve a much greater level of accuracy, reducing the risk of errors by a large margin.
As a result of eliminating many of these human errors, business process automation helps to lower costs incurred due to redundancy and the process of rectifying errors as well.
For example, Telefonica Spain was able to save a total of $3 million within a period of 24 months just by reducing errors through the automation of their manual management services.
Automation also facilitates transparency in all aspects of a business’ operations, which ensures that all teams are on the same page in terms of tasks and expected standards. This once again serves to improve productivity and encourage accountability for work that must be delivered.
With all work easily designated and assigned, automation software is able to guide teams, across all departments, to do their part efficiently.
Get better tracking and analysis
When a process runs manually, it’s very difficult to keep track of it.
With business process automation software, however, you will be able to get reliable, accurate, and real-time data about all of your processes—including their progress and weaknesses.
Automation software will also be able to track certain inefficiencies in your processes and points of improvement. It can even notice issues that you didn’t even realise existed.
Getting instant access to the most accurate metrics and analytics will enable you to understand more about your business, allowing you to make more informed decisions regarding expenditure and helping you manage your capital more efficiently.
Using these proactive insights, you can take the value of your operations to new heights without skyrocketing costs.
Economies of scale
Often, as companies grow, they require more staff to deal with increased business, which elevates operating costs alongside business growth. With business process automation software, you will be able to handle an increased workload without gaining any extra costs.
As you gain more business, automation will still be able to handle the increased workload with the resources you already possess.
You won’t require extra hires to take on the extra workload, because the automation software is able to scale up automatically.
With less investment required to take on more business, your company will be able to grow more rapidly.
This secures stable business growth while maintaining relatively similar operational costs, which increases your profit margins significantly.
Operations automation software ensures profitable growth
The best part about implementing automation software is that even the most basic automation tasks still contribute significantly to cost containment.
While more advanced automation will be tougher to set up, the increased profits and better service will make it all worth your investment.
Here at Launchy, we help you implement business process automation software while guiding you through the process to help you make the most of your investment.
To find out how we can provide you with the best tools to improve your profitability, and market responsiveness, schedule a free consultation with us today!