Technology has proven to be a promising yet powerful tool for businesses in the Digital Age. In this era where new technological advancements and developments are constantly rolling in, it gets tougher for businesses to decide which systems to update, keep and forgo; the pressure to keep up with the changes and revamp their existing systems in place is intense. After all, when enterprises are riddled with inefficiencies, costs are driven up and business efficiency becomes an incessant chase. What better retreat is there than to harness on the booming/lucrative potential technologies and gain the upper hand?
Inefficiencies cost many organizations 20 to 30 percent of the revenue each year. Employees who don’t produce enough, subpar quality control and rote tasks are the main culprits. While the price to minimize inefficiency comes at a premium, it’s easy to find a plethora of softwares and cloud-based tools that are designed for enhanced productivity and efficiency. It becomes more convenient to look at business processes in place and determine what can be streamlined and automated. According to Sathvik Tantry, CEO of FormSwift, business automation is not a luxury but a necessity in today’s competitive environment. Automating monotonous tasks saves employees’ time and allows them to do more productive tasks that require critical thinking or a human touch. This way, simple tasks like sending receipts to vendors can be automated and employees can focus on core tasks at hand. Implementing automated processes may be costly at start but it will cut costs in the long run and increase business efficiency.
The rising labour cost is a compelling dilemma for employers who are forced to make adjustments that compromise inefficiency. Nonetheless, customizable automated systems will replace traditional structures to fill in the gaps and ensure productivity however complex their current operations may be. An interactive and user-friendly interface is essential for smooth operations of the available functions. Systems, such as inventory management, become accurate and reliable. With real-time reporting and access to statistics, business owners can make spontaneous decisions on the go.
Automating processes can serve as the catalyst for improvement in the economies of enterprises or society. Although a skilled maintenance department is often required to service and maintain the automation system in proper working order, the advantages outweigh its disadvantages and leads an enterprise towards business efficiency.
In the age of big data, the challenge now is how to use the information collected for timely decision-making and effective resource planning. Yet, SMEs want to keep things simple and costs low. What essential business processes should be automated first? At what point on the growth curve does technology become cheaper than hiring more employees?
To find out how Flex-Solver can improve efficiency level of your business, visit them at BOOTH P23 at Retail Technology Show Asia 2016, this April 20-21, at the Suntec Convention Centre, Singapore.