Automation: What are the benefits?

benefits of automationHumans are complex beings. We are creative beings, and we value our own time and strengths. And it’s no different in the workplace. We invest our energy into advancing ourselves and the businesses we’re part of. The source of motivation does not come from doing the same things over and over. And this has been recognised for years – centuries in fact – as explored in our feature all about the inception of Robotic Process Automation and its relevance today.

So, the concept of automation isn’t new but the ways in which we can apply it within modern business – are. And there are many benefits to being able to automate particular processes. Especially when human error could have significant implications.

In this feature, we cover the benefits and aims of implementing modern automation processes for unlocking a more efficient way of working.

 

What are the aims of automation?

Firstly, automation isn’t there to replace people – it’s a huge time and money saver which is why so many organisations are looking to reap the benefits.

Automation helps to increase productivity, offload menial tasks, give you back more time, remove human error and just helps the business be more efficient in general. It allows companies to focus on what they’re good at and provides the ability to scale in support of business growth.

It is targeted towards:

  • Highly manual tasks – that include many repetitive actions.
  • Often rule based tasks with a low exception rate.
  • Activities that have a standard electronic, readable input.

It’s unlikely that you will achieve 100% accuracy with automation, but if you can get up to 80% or more, that’s still a huge saving as Head of Application Development, Trevor Dagg explains: “Depending on what you are automating, you can expect to achieve an accuracy rate of around 60%, but when you apply machine learning and AI to ‘learn’ the exceptions, that will improve. Once the exceptions are built in, your automated process will then carry a higher rate of around 80% to 85% accuracy depending on the process – which is realistic and a huge time and money saver, especially when you consider that bots can work 24x7x365.”

Read more: How We’re Using RPA for Finance and Accounting Teams. 

 

What are the benefits of business process automation?

Save time and money – Bots can do the work of 3-5 FTEs, allowing for increased output, on a 24/7 basis.

Increase accuracy – Bots allow you to eliminate human error while increasing speed and accuracy. This is because they can do the same task over and over again in exactly the same way.

Perfect for legacy systems – Bots ‘learn’ the steps a human would normally take with no coding required.

Maximise compliance – Bots allow you to ensure all necessary steps and checks are taken with log, audit and reporting capabilities.

Bots are also not going to do anything that you haven’t told them to do, so it really is about maximising your efficiency more than anything.

 

Where is automation best applied?

Automation can be applied across the business, particularly in HR for employee onboarding and offboarding, as well as Finance and Accounting IT.

Learn more here: Automation: How to get started.