Every employer wants their organization to be robust, fast, and more efficient. The secret to achieving these goals is to automate business processes by leveraging modern technologies.
This transformation has been the central focus of businesses today. Look at these statistics.
According to Gartner, the use of business process automation tools would increase by 30% and reach $3.6 billion by 2027. We’re living in the age of hyperautomation where more businesses are relying on automated processes than ever before. The integration of AI with automation technologies has opened the doors to new growth opportunities.
And it won’t stop here. Automation not only reduces errors; it drives innovation in traditional organizational processes. Businesses can improve their operational efficiencies and achieve desired objectives.
So, if you are a business owner and want to automate your organization, explore these five business process automation trends that will shape the future of the corporate sector in 2024 and beyond.
Let’s get started!
An Overview of Business Process Automation (BPA)
Business process automation is defined as the use of the latest technology to automate complex business processes, functions, and workflows. It plays a crucial role in the growth of any organization, regardless of its size.
For instance, a startup with limited human resources can automate repetitive tasks like attendance management, time tracking, etc. There is no need to bear liabilities for full-time employees to complete these tasks. Similarly, AI chatbots in businesses can be used to automate customer services. These chatbots can handle multiple queries and provide accurate answers.
The benefits of business process automation are diverse. From enhanced team productivity and client satisfaction to high profitability, BPA contributes to long-term sustainability.
The best part is that there is no limitation to the extent to which companies can automate their processes. Employers can use modern automation tools to better manage finance, operational processes, accounting, HR, engineering, supply chain management, QA testing, and more.
Business Process Automation Trends for 2024
BPA trends keep changing with advancements in modern technologies. Staying updated with these trends is critical for employers to succeed in today’s competitive business landscape.
Let’s explore five business process automation trends that will have a huge impact on businesses’ efficiency in 2024:
1. AI-driven Automation
AI is the most-discussed topic among the global business community in 2024. While the research on AI has been going on for years, the technology came into the spotlight when OpenAI launched ChatGPT in November 2022.
AI adoption is now the number one business process automation trend.
Today, generative AI tools like ChatGPT in businesses are used to automate repetitive and less critical tasks. These tools leverage AI and NLP capabilities to respond to humans in natural conversations. When you contact a customer support agent, there are high chance that you are talking to an AI chatbot.
By leveraging AI, businesses can now deliver personalized experiences to their users with versatility and scalability. The technology also assists stakeholders in decision-making and strategic planning.
2. End-to-end Organizational Visibility
Automation is not confined to specific roles, selective functions, or limited departments only. Businesses can leverage automation tools to streamline all their workflows, including end-to-end organization visibility.
What does that mean?
Take the example of a well-established group of companies operating in different sectors. Is there any way to get better insights into departmental performance and identify bottlenecks? Automation has the answer. It centralizes data from different branches and presents it in the form of graphs.
Eventually, automated data visualization gives business leaders real-time insights. Different companies working under one umbrella can collaborate seamlessly.
The outcomes of end-to-end visibility automation are operational efficiency, growth, and sustainability.
3. Sustainable Automation
Business automation at the cost of environmental degradation is not acceptable. Socially responsible organizations realize the importance of sustainability and take note of EPA guidelines when utilizing automated platforms.
Sustainable automation, therefore, is going to be the next popular trend in BPA. AI also plays a key role in this domain. Since AI-powered tools are great for monitoring and evaluation, businesses are using these tools to manage ESG (environmental, social, and governance) initiatives.
For instance, automotive giants like Tesla are using AI to collect data and track performance against key sustainability targets. Automated systems present valuable information in the form of charts for better decision-making.
Tesla recently announced it is recycling 99% of water, which wouldn’t be possible without AI automation. The step was commended by Tesla’s founder Elon Musk on Twitter.
4. Cloud-native Technology
There has been a paradigm shift towards cloud computing in recent years. Businesses are replacing traditional software with cloud-based solutions to embrace flexibility, scalability, and efficiency. The pace of this transformation is exceptional.
In 2024, Granter predicts that businesses will invest nearly $679 in the public cloud.
Hence, cloud computing is one of the growing business process automation trends today. Primary examples include robotic process automation (RBA), SaaS, and IoT applications.
Moreover, cutting-edge technologies like AI and ML, when combined with cloud computing, offer a robust infrastructure to effectively complex automation workflows. The change accelerates digital transformation efforts and gives businesses a competitive edge.
5. Employee Well-being Automation
Employee satisfaction has always been among the top preferences of every employer. Happy staff means higher productivity and increased profitability.
Can automation improve employees’ well-being? Yes, it can.
The most important aspect of creating a happy workforce is to deliver better workplace experiences. Giving staff the flexibility to do their jobs and empowering them in decision-making can increase their morale.
By automating repetitive tasks, companies can give their employees more time to focus on professional development. Workers can spend more time on value-addition instead of administration. They can also learn new skills, upgrade their expertise, and bring innovation for better results.
Hence, improving staff experiences through business process automation can lead to increased productivity and higher retention rates.
Final Words
For businesses to thrive in the digital era, automation is inevitable. Automating less-critical and repetitive tasks allows teams to become more productive and bring innovation to their practices.
However, most employers are unaware of automation tools or technologies they need to boost their growth. For these business leaders, we have discussed five business automation trends as predicted by the leading industry experts.
Following these five trends can help organizations become more competitive and better leverage technology to achieve long-term sustainability.
