There are many advantages of intelligent automation that are helping organizations make their processes the best they can be. But at the same time, many of these benefits double in value by helping organizations grow faster. From improving decision-making to fueling innovation to accelerating productivity, intelligent automation empowers organizations to grow without adding headcount. Let’s explore six ways intelligent automation accelerates company growth.
How Intelligent Automation Helps Businesses Grow
1. Increased Productivity and Accuracy
Intelligent automation tools like RPA can streamline the tedious, repetitive tasks that once overconsumed your employees’ workdays, like data entry and processing. And since technology has freed them of the mind-numbing tasks they used to dread, your staff will now have more time to devote to higher-value activities.
Whether they use that time to create outstanding, memorable customer experiences or tasks that involve strategic planning, these pursuits add to your company’s bottom line and can help you thrive and grow.
Having both technology and talented employees working hard simultaneously gives you a considerable gain in quality of work, too. Both have different strengths that increase work quality: benefit from both the high levels of accuracy tech can accomplish and the strategic, creative, emotionally intelligent work that only passionate, fulfilled employees can produce. This way, your customers no longer have to wait on hold for an error to be resolved, and they can enjoy your frictionless, friendly service instead.
2. Enhanced Customer Experience
As we just explored in #1, intelligent automation can boost the customer experience by reducing the volume of errors and giving staff more time to nurture customer relationships. But intelligent automation can also exceed your customers’ expectations through chatbots, which offer huge gains like:
- Make Better Use of Employee Time: Chatbots can take over the “generic,” or simple, frequently asked questions so your employees can handle the more complex issues with the greater care and human touch they require.
- Let Your Customers Interact With You Their Way: 81% of consumers prefer to do their own research online before contacting a company directly. A chatbot and other self-service portals like mobile apps give them that flexibility, making them more likely to stick around.
- Accelerate Your Response Time: AI-powered chatbots can provide instant answers to customer inquiries 24/7/365.
- Extend Your Short-Staffed Team’s Reach: Chatbots can help you answer more customer questions in less time, which goes a long way if you’re short-staffed.
- Improve Your Complaint Resolution: According to MIT Technology Review, 90% of businesses that have implemented an AI-powered chatbot have experienced an improvement in complaint resolution.
- Grow Your Prospect Pool: From a marketing perspective, chatbots can increase lead generation by collecting the email addresses of the users they assist. They can then be placed in a funnel for future marketing opportunities, helping you grow your pool of prospective customers.
Altogether, these benefits help your customers get faster, higher quality service, which is bound to create memorable positive experiences that’ll make them stick around. They might even start recommending you, helping you grow even further.
3. Innovation and Collaboration
Intelligent automation also helps your teams collaborate more easily, which can spark new innovative ideas that push your organization forward. Shared access to data-driven insights and collaborative platforms can break down departmental silos, data silos, and technology silos. This means your employees can connect employees regardless of department or geographic location. Even better, they can pool their expertise to solve problems and generate new ideas to increase your competitive advantage, allowing you to grow.
4. Data-Driven Decision Making
Intelligent automation can also help you make smarter, data-driven decisions that propel your organization toward growth. It can quickly analyze vast amounts of data to produce valuable insights you can turn into meaningful action. For example:
- You can use machine learning algorithms to analyze customer preferences and behavior, which can be used to create more strategic, targeted marketing campaigns.
- Machine learning can also analyze your datasets to reveal customer churn causes and identify unhappy customers. With these insights, you can form strategies to prevent further dissatisfaction, and your staff can repair at-risk relationships.
- Chatbots can gather real-time data on customer interactions, enabling them to learn about their preferences and needs, leading to the delivery of personalized products and services through appropriate channels.
- Predictive analytics and real-time performance metrics can also be used to identify areas where resources can be allocated more effectively and efficiently.
5. Cost Reduction
Intelligent automation also improves your bottom line, sending you well on your way to company growth. According to Deloitte’s findings, “Executives estimate intelligent automation will provide an average cost reduction of 22%.” And this gain is likely only on the rise, as Deloitte also found that “Organizations currently scaling intelligent automation say they have already achieved a 27% reduction in costs on average from their implementation to date.”
These savings come from multiple different places. For one, intelligent automation reduces costs by optimizing resource allocation and eliminating manual tasks. It’s simple: Between the automating technology and your employees, more work gets done, which boosts your bottom line.
And as your company’s needs change, intelligent automation enables you to meet rising demands without needing to hire more staff. This way, you can grow without increasing headcount. The improved accuracy and quality of your processes will also help you reduce error-related expenses.
Finally, intelligent automation can save you money via self-service channels: According to Gartner, self-service channels cost about $0.10 per contact, whereas live channels like phone and email cost an average of $8.01 per contact.
6. Agility and Scalability
Your organization and the market around you are constantly changing, and you need to be able to adapt quickly to grow continually. Fortunately, intelligent automation allows businesses to adapt quickly to changing demands and scale operations efficiently.
For example, cloud-based infrastructure makes it extremely easy to scale up and down as needed, allowing you to easily upscale or downscale your computing power, network resources, and storage. This way, it’s easy to respond to market changes and customer needs (maybe even before your competition can!)
Adding Intelligent Automation Solutions: RPA and Process Mining
Now’s the Time to Level Up with Intelligent Automation
Some of the worst offenders of blocking company growth are:
- Inefficient processes and systems
- The lack of innovation
- Failing to understand changes in the market and customer desires
As we’ve seen, intelligent automation can eliminate all these obstacles and more. That’s why it’s worth investing in sooner rather than later. Frankly, it’s best to start now because your competitors are likely on their way to making the jump if they haven’t already.
To get started, we’d love to chat – drop a question in the chat below to start the conversation. Or, if you’d like more help envisioning what intelligent automation could look like in your business, check out our Intelligent Automation Use Cases blog below.
7 Cross-Industry Intelligent Automation Use Cases
Wondering how other organizations are using intelligent automation? We’ve compiled 7 examples of intelligent automation tools in action at organizations across industries.
Want More Content Like This?
Subscribe to the Naviant Blog. Each Thursday, we’ll send you a recap of our latest info-packed blog so you can be among the first to access the latest trends and expert tips on workflow, intelligent automation, the cloud, and more.