With the nature of businesses and the behavior of customers continuously changing with the evolving technologies, it is becoming difficult for companies to gain competitive advantages. The perpetually increasing smartphone penetration, the Internet usage, growing urban population and the social media websites attracting more and more active users — together throw innumerable modern-day challenges to businesses across the world.
Besides this, the need to streamline processes, enhance productivity and, most importantly, reduce the operational costs draws the attention of business leaders the most. At a time when the conventional methods of managing diverse business processes are not enough, companies are relying on the advanced cloud-based Robotic Process Automation (RPA).
A report published by Deloitte informs that combining technologies such as Automation and Artificial Intelligence (AI), advanced Robotic Process Automation or Intelligent Process Automation “is starting to change the way business is done in nearly every sector of the economy.”
Understanding Robotic Process Automation
When we say Robotic Process Automation (RPA) or Intelligent Process Automation, don’t expect a physically existing, walking and talking auto-bots to perform diverse business tasks. Rather, it is more about performing business tasks with the help of virtual machines.
Software applications are programmed to undertake tasks that have for long been performed by the human workforce. Repetitive tasks are automated and the programmed software applications collect, organize, customize, manipulate and process the entire data to complete day-to-day transactions and drive the overall business performance.
5 Reasons Why Businesses Should Implement an Intelligent Process Automation Software
At the pace the competition is increasing, an advanced business automation software, for instance, Microsoft Dynamics, Value Creation Automation (VCA), SAP, Oracle, Sage and many more, seems to be the best option, which can help in gaining competitive advantages.
When technologies evolve at an unprecedented speed, it brings along a phase of transition and level of uncertainty grows manifold. Therefore, businesses are left with no other option but to implement an Intelligent Process Automation software, which allows companies to evolve & grow with the continuously innovating technologies.
Businesses can no longer rely on the traditional business management software. For instance, the conventional On-Premises ERP software is not only costly but, it also consists of a rigid structure and is not meant to support businesses in continuous evolvement.
Therefore, let’s see – How an advanced business process automation software support companies in fighting with innumerable challenges and why should business leaders seriously think about put disruptive technologies on duty?
1. Helps in Reducing Operational Costs
Advanced Robotic Process Automation (RPA) combines the power of Artificial Intelligence (AI) and Automation into one platform. Complex data is read, analyzed and processed successfully to support businesses in performing diverse operations with utmost efficiency.
Unlike the traditional On-Premises ERP software, with an advanced automation software, businesses do not have to build servers or invest in the installation of hardware & software. Companies do not necessarily have to hire a dedicated IT team either. All such costs are borne by the advanced ERP or automation software vendor.
For instance, VCA business solution incorporates the cloud-computing technology and is also based on the Software-as-a-Service (SaaS) delivery model, which allows running their businesses efficiently, without much working capital requirements.
Technological disruptions such as SaaS and cloud-computing is the need of the hour and businesses adopting such technologies will certainly reap benefits in the long run.
2. Supports in Streamlining Processes
While running business operations it is important to efficiently manage resources, budget and time. And an advanced process automation software can be of significant help in streamlining entire business processes.
For instance, VCA process management software is designed incorporating business models such as Sig-Sigma and Lean Management, which play a key role in making processes efficient.
- Supports in the instant identification and elimination of the business tasks that are adding no value to the organization.
- Ensures that the error-rate is significantly minimized.
- Tasks are completed within the allocated time and budget.
- Also, helps in identifying resources lying idle and in directing such resources towards achieving organizational goals.
Having implemented an Intelligent Process Automation software such as VCA, businesses can automate entire processes. In other words, with reduced human dependency possibilities of errors in the processes can be restricted to the minimum level.
On the other hand, it also means that the human workforce does not have to perform tasks that involve high risks. With the ability to perform thousands of calculations and other tasks in one go and that too with utmost accuracy and efficiency, a Robotic Process Automation software significantly reduces the unrelenting workload of the human workforce.
Be it the HR, accounting, logistics, supply chain, marketing sales, customer care — entire business processes are automated.
3. Keeps Entire Business Performance Integrated
The people, processes and functions when scattered are really difficult to manage. The traditional business automation software is designed to enhance the efficiency of defined processes. But, it lacked the ability to integrate.
On the contrary, advanced automation software, for instance, VCA is designed to integrate entire business tasks and activities into one single platform. This results in the creation of a shared database, which Owners, Directors and Managers can instantly access data across departments, at the same time. It consists of a visual dashboard, which can be viewed using even smartphones and tablets.
Business leaders can be anywhere and scrutinize entire business tasks, people and processes and hence, have a better control of operations. It results in an enhanced visibility and simplifies the communication process as well. This helps in successfully eliminating all sorts of performance bottlenecks, resulting in a smooth business workflow.
4. Modern-Day Businesses Challenges Can Be Dealt with Promptly
Powered by smartphones, the Internet-of-Things and the social media websites, customers have become tech-savvy and their preferences tend to change every now and then. Therefore, it becomes paramount for businesses to draft customer-centric strategies, understanding continuously changing customer demand and the marketing trend.
With technologies such as Artificial Intelligence (AI), Automation, cloud-computing and SaaS, business automation software such as VCA allows businesses to remain connected to customers across advanced medium platforms. Be it automated email, SMS or be it the automated social media posts — business can inform customers about diverse products & services, discounts, sales, promotional offers as well as campaigns. Even more, it also ensures that businesses are available 24 x 7 to respond to various queries of customers and also to take orders from them.
Having entire data saved in the cloud, businesses can perform diverse business tasks from anywhere and anytime, using various electronic devices such as smartphones. All these factors support businesses in building a trustworthy relationship with customers and also in enhancing retention rate as well as in attracting new ones.
5. Businesses Can Ensure Compliance & Add to Economic Growth
An advanced automation software does more than streamlining business processes, increasing productivity and making the bottom level of the company robust. It allows business leaders in getting a clear picture and presenting it to stakeholders, which is essential to win their confidence.
It encourages customers to remain loyal even in the long run; Suppliers and Manufacturers in having a healthy relationship; Lenders and creditors to keep invested in the business for a long term. Similarly, businesses can also win the trust of government authorities by ensuring complete compliance.
The business process automation software such as VCA is an end-to-end business solution, which is designed to support companies in developing holistically. It helps businesses in exploring diverse growth opportunities, but at the same time, such advanced process automation software also allows employees to learn and grow with the continuously evolving technologies. Moreover, it helps SMEs and Large Enterprises in performing robustly, resulting in generating enormous employment opportunities. Having helped companies in growing, an advanced business automation software can indirectly play an essential role in the economic growth of countries across the world.