Automation Management and Optimization
Optimizing Automation and Automation Management can help businesses improve their bottom line, provide better customer experiences, and stay ahead of the competition in today’s fast-paced business environment.
- Increased Efficiency: Automation can help businesses to streamline their processes, reduce manual errors, and eliminate repetitive tasks. This results in improved efficiency, reduced turnaround time and increased productivity.
- Cost Savings: Automating specific processes can help reduce labor costs, reduce errors, and minimize the waste of resources. This can result in significant cost savings over time.
- Improved Accuracy: Automation eliminates the risk of human error, which can often result in costly mistakes. Automated systems can also provide real-time monitoring and alert notifications, which can help detect and correct errors before they cause any damage.
- Enhanced Customer Experience: Automation can help businesses provide a better customer experience by speeding up processes, reducing wait times, and providing consistent and accurate responses to customer queries.
- Competitive Advantage: Automation can give businesses a competitive advantage by allowing them to deliver products and services faster, more accurately, and at a lower cost than their competitors.
- Scalability: Automation allows businesses to scale their operations without significantly increasing their workforce. This makes it easier for companies to handle increased demand and expand their operations as needed.
Areas where Automation can Enhance Automation Management
- Resource Management
Automation can enhance resource management by providing real-time monitoring and analysis of resources, optimizing resource allocation and utilization, reducing wastage and redundancies, and providing data-driven insights for making informed decisions. This can result in improved efficiency, cost savings, and better utilization of resources, leading to increased productivity and profitability for businesses.
- Operational Governance
Automation can provide real-time monitoring and tracking of processes and activities, ensuring compliance with regulations and standards, reducing the risk of errors and fraud, and enabling efficient audit and reporting processes. This can improve transparency, accountability, and risk management, increasing trust and confidence in the organization’s operations.
- Business Performance
Automation enhances business performance by improving operational efficiency, reducing costs, minimizing errors, enhancing quality and consistency, increasing productivity, enabling scalability, and providing data-driven insights for informed decision-making. This can result in increased profitability, better customer experiences, and a competitive edge for businesses in the market.
56% of the respondents reported using multiple vendors for their automation needs. This validates the point that using various vendors increases flexibility. The choice also allows businesses to use the version that best suits their automation needs.
Total Cost of Ownership of Automation Management
The initial costs of implementing Automation in a business may include investments in technology infrastructure, software licenses, equipment upgrades, and employee training. Additional charges may be associated with customizing and integrating automation systems with existing processes.
However, the long-term benefits of Automation, such as increased efficiency and productivity, cost savings, and improved quality, can outweigh the initial costs and provide a significant return on investment over time.
The most significant of the costs are –
- Infrastructure Costs
Automation Centers of Control (CoEs) manage automation processes and the bots performing the tasks. But 64% of the respondents reported that they still manage the processes manually.
The primary role teams are looking for in Intelligent Automation software is that it should manage end-to-end lifecycles.
What is Success in Automation Management?
Different teams measure success in various ways, depending on their needs, required outcomes, and business processes. The most common success measurements are –
- Clearly defined KPIs
- Reduction in automation costs
- Total time saved
- Hours returned to the business
- Actual runtime benefits
- Increasing operational costs of managing Automation
- Inability to measure business impact and ROI
- Lack of end-to-end overview of process automation
- Failure to utilize resources and bots optimally
- Absence of a governance environment to control and manage bots
For more detailed insights, view the full report here