Have you heard the phrase, “There’s an app for that”? Ordering groceries, reserving a vacation home, paying monthly bills, and even vacuuming your floors are just a few of the personal tasks that technology can automate.
In the business world, automation technology is showing us new ways to approach processes. Using the right applications can automate repeatable manual tasks and processes and free your team to pursue other valuable objectives.
Efficiency improvements and cost savings
Accenture, a Fortune 500 global services and consulting company, estimates that North American businesses stand to gain $140 billion in productivity improvements and cost savings by 2025 through automation technology.1
Organizations of many types – including banks, insurance companies, and manufacturers – that embrace automation technology can realize significant efficiency and cost savings.
Reaping the benefits of automation technology
Automation enables various tasks and processes to be performed according to specified rules and policies. Newer automation platforms allow nontech users (aka “citizen developers”) to automate outdated or manually intensive processes.
In addition, automation technology offers other general benefits to organizations by:
- Delivering the efficient digital experience that today's customers expect
- Achieving operational agility that helps improve efficiency and reduce costs
- Performing tasks that most people don't want to do or are too busy to do – freeing them for more engaging and profitable pursuits
Here are four examples of how automation in the workplace has benefited our clients:
- An insurance company now sends automated yet highly personalized reminders to policyholders 90, 60, and 30 days ahead of their policy renewal date.
- A bank created an automation script that runs at specified times to archive large files of supporting loan documentation submitted by potential borrowers.
- A manufacturer created a chatbot to answer basic product questions, allowing them to enhance their customer service.
- Another bank created an automated script that sends notifications to relationship managers if their online banking customers haven't logged on for two consecutive months.
The Microsoft Power Platform is a prime example of an automation platform that helps people turn great ideas into impactful solutions. At Crowe, we build on the Power Platform to create innovative solutions that help open clients’ eyes to the possibilities within their organization.