As digitalisation continues to transform the way individuals and businesses alike operate in the world, automation is fast becoming a norm rather than being viewed as the futuristic concept it once was. This is much more prevalent in businesses, as automated businesses benefit from a range of enhancements like increased efficiency, reduced costs, improved accuracy, and faster turnaround times, among others.
The impact of these benefits is clear, with research by McKinsey revealing that at least one function in 31% of organisations is already automated. However, automation technologies are not slowing down. New developments in this aspect are allowing businesses to deliver personalised content, enhance their ROI, and drive growth like never before.
In this article, we are going to look at 4 key trends in automation that will shape its future; namely no-code and low-code application implementation, hyperautomation, customer-centric process management, and sustainable digital transformation. If you’re interested in experiencing the benefits that truly automated businesses enjoy, this article will give you some valuable insights to get you started.
Let’s dive in.
4 key trends to follow to establish optimal automated businesses
Here are 4 key trends in automation that you should know about and consider implementing for a robust and future-proof business.
No-code and low-code applications create momentum
When we talk about automation, it is natural for you to think about complex programming initiatives and specialised IT resources. The implementation of automation often involved significant time and resource investments, which meant it was often limited to large enterprises. No-code and low-code applications have made this process significantly easier—democratising automation for large-scale adoption.
No-code and low-code applications offer user-friendly interfaces that businesses can use with minimal technical knowledge and still create efficient automated workflows. Your teams can simply drag and drop pre-built components to automate routine tasks like data collection, form processing, report generation, and even simple decision-making processes.
These applications are gaining traction, with Deloitte reporting that no-code and low-process automation solutions have already been implemented in some form by 24% of businesses.
These platforms are known to help businesses of all sizes to automate tasks, improve efficiency, and free up valuable human resources so that they can engage in value-added strategic tasks. Making use of these applications within your business will allow you to enjoy similar benefits.
Hyperautomation drives growth
Hyperautomation goes far beyond simple task automation. Simply put, it is the process of automating everything that can be automated within business processes. This involves making use of a wide range of technologies like OCR, BPM, process monitoring, orchestration, and APIs to create integrations and improve workflows.
The popularity of hyperautomation cannot be denied. For example, OCR—a key driver of automation—has already become a core part of automated businesses. According to Deloitte, 51% of businesses already use OCR technologies, and 30% have plans to implement them in the future.
Understanding and utilising these technologies within your business operations is key to establishing efficient, future-proof business operations that can address changing consumer preferences and fluctuating demand.
Customer-centricity takes centre-stage
Businesses are facing an extremely competitive market in this day and age, and being customer-centric is the key to success. The market is extremely saturated and standing out necessitates the usage of automation, among other technologies.
For example, automation can facilitate personalisation—which will be crucial for your bottom line. In fact, according to research by McKinsey, businesses can generate up to 40% more revenue if they utilise personalisation effectively.
The benefits of automation in improving customer-centricity don’t end there. It also enables automated content delivery, such as personalised email campaigns and targeted content that will resonate with individual customers.
Automation also streamlines the process of data collection and analysis, which are both crucial for sustained success in marketing efforts. With automation, you can gather valuable customer data through automated surveys and feedback forms, analyse this data to get insights into customer behaviour and preferences, and tailor your offerings accordingly.
In addition, you can scale operations easily with features like chatbots without sacrificing the quality of service delivery.
All this ultimately results in exceptional customer experiences that will foster stronger customer relationships and drive loyalty. According to McKinsey, 76% of consumers say they’re more likely to purchase from brands that personalise.
Sustainability and ethics cause concerns for transformation
Sustainability and ethics are huge concerns these days, for both businesses and consumers. Automation presents both advantages and concerns in this aspect.
In terms of advantages, you can leverage process automation to improve environmental, social, and governance data collection, tracking, and reporting. This helps address the rising compliance concerns that businesses are facing.
Automation also presents ethical concerns, especially in terms of how it may be replacing jobs and driving unemployment rates upwards. However, it can also be viewed as a tool for creating new job opportunities and a driving force for reskilling initiatives. In fact, according to the World Economic Forum’s 2023 Future of Jobs report, 42% of employers are prioritising training employees in these technologies by 2027.
While automation does present multiple avenues for revenue maximisation and growth, it is important that you keep these sustainability and ethical considerations in mind to drive positive outcomes.
The future is now. Elevate your business by adopting trends in automation
Businesses are constantly experiencing change as a result of digitalisation, and automation is at the forefront of this change. Automated businesses enjoy a vast array of benefits, like increased efficiency, reduced costs, improved accuracy, and faster turnaround times, among others.
By incorporating the technologies and initiatives discussed in this blog post, you can improve and future-proof your automation efforts for more results-driven business operations.
While the benefits of automation are many, implementation may not be as simple as you once expected when it comes down to it. To address any challenges you may face in this aspect and ensure an effective implementation, you can schedule a consultation with an automation expert. They can deliver targeted solutions that address the needs of your business and help you pinpoint any gaps in operations that can be optimised through automation.
Leverage automation in your business and start reaping the benefits today.
FAQs
How can I get started with automating my business?
No-code/low-code platforms offer a user-friendly way to automate workflows without extensive technical knowledge. Identify repetitive tasks within your business and explore how these platforms can streamline those processes.
How much does it cost to automate my business?
Costs associated with automation vary depending on the complexity of the solution. No-code/low-code platforms offer a cost-effective entry point, while more sophisticated hyperautomation solutions require significant investment. Consider the potential ROI when making your decision.
What are some of the challenges associated with implementing automation?
High initial investment, change management, data security, and technical expertise are common challenges faced by businesses when implementing automation technologies. Automation consultants can help alleviate some of these challenges.