COVID19 has had a lasting impact on the economy, and companies have begun to rethink how their strategy, workforce, and processes operate. The rapid development of robots and artificial intelligence is entering the workplace, where machines perform physical and cognitive activities. Thus enabling companies to explore various options to transform their processes to achieve self-sufficiency.
A recent McKinsey survey revealed that companies from all walks of life attribute 20% or more of their organization’s earnings before interest and taxes (EBIT) due to artificial intelligence-based solutions. Interestingly, 50% of respondents indicated that their company has adopted AI-based solutions in at least one business function.
ResearchAndMarkets report shows that by 2026, the global Business Process Automation market is expected to reach $19.4 billion, rising at a market growth rate of CAGR 13.2%. This laid the foundation for why business process automation (BPA) is important to all industries.
BPA focuses more on the automation aspect of process management.
Manual processes and modern automation
Although some tasks still require manual operations, matters such as data entry and document routing do not need to be listed in this list.
This is a comparison between manual processes and modern automation in terms of response time and processing costs.
Where you can apply business process automation
To better understand business process automation, here are some functional use cases.
A strong employee onboarding process is the key to attracting new employees as soon as possible and leaving a positive first impression. It helps them increase productivity faster by easing their transition.
But many times, employees leave a bunch of forms on the first day. This can result in dissatisfied new employees and more time to compete.
Business process automation can be applied to onboarding tasks such as:
- Gather personal information
- Complete official W4 and I9 forms
- Set up payroll and benefits
- Assign office equipment.
The purchase order plays a key role in the entire procurement process. They enable organizations to purchase goods and services necessary for operations.
But many times, this process is affected by manual data entry and physical forms. Employees spend several hours a week completing repetitive tasks, such as completing the same purchase order.
Business process automation simplifies the entire process. You can digitize purchase order forms with db connectivity.
Employees usually need to fill out a travel authorization form to obtain prior approval for their business trip. They are similar to expense reports, but are mainly used for travel. Like any manual process, a lot of time is wasted searching for incomplete information and sending documents back and forth via email. You can use Bautomate’s BPA software to digitize forms and automate your travel application process instead of dealing with paper.
Employees can apply for leave due to personal illness or emergency. But handling these requests is particularly challenging for the physical form.
Using Bautomate software, you can simplify this process and make it easier for employees to submit vacation requests and get compensation.
Expense reimbursement allows employees to reimburse expenses they paid on behalf of the company.
Examples include taking clients out to dinner or paying for accommodation. Manually managing expense reports not only leads to longer processing times, it also makes the organization vulnerable to expense fraud – employees can exaggerate or falsify claims.
With the help of dynamic forms, employees can quickly complete expense reimbursement forms and even attach receipts.
Nowadays, companies cannot afford to approve inferior invoices. Using Bautomate’s BPA software, you can eliminate inefficiencies such as physical tables and manual routing. We can extract line items with quantity, cost and automate invoice routing for approval and processing through pre-configured rules. In addition to sending attachments via email, you can also send links to invoices completed by suppliers or consultants.
Work orders are usually tasks or jobs for clients. For example, a telecommunications company may issue a work order to the maintenance team to resolve the problem encountered by the customer. Automating this process not only ensures that the field team has the information necessary, but also helps them getting approvals on time to complete the job. Automated processes can also improve customer satisfaction.
Budget approval is an important document for financial planning. They enable organizations to manage their budgets and plan for the future.
But manually managing budget approvals can quickly become a headache, especially for finance teams that must review and approve budgets.
Business process automation software (such as Bautomate) enables you to create custom forms for budget approval. You can then use the software to create an automated workflow to route all forms to the appropriate approvers.
Business process automation has endless applications for different industries. By using technology to improve processes, you can increase productivity and reduce operating costs. Having said the automation is not just limited to the above areas, it can be customized based on customer’s requirements.
Bautomate’s all-in-one automation platform is completely a homegrown solution made in India for international markets, which can flexibly customize products according to customer requirements, without relying on third-party tools, and realize seamless exchange and business transactions between multiple ERP systems through connectors and data converters.
Artificial intelligence-driven Bautomate helps small and medium enterprises increase profits by automating repetitive tasks while freeing critical resources to focus on niche activities.