Introduction
Automation of business processes is gaining recognition as an important parameter for business success.
In today’s competitive times, organizations are bent towards technology to achieve operational efficiency, cost cutting, customer satisfaction, etc. to drive better margins and revenue growth.
In simple terms, Business Process Automation refers to the use of technology to automate the repetitive tasks in a business that take a lot of time when handled manually.
Manual ways of performing tasks not only create workload on the resources but also hamper the overall processing speed of different operations in a business.
On the other hand, using Artificial Intelligence and Machine Learning based digital solutions can not only streamline and organize different business processes but can also provide intelligent business insights that positively impact decision-making for driving growth and understanding pain points.
For instance- The ease and efficiency offered by business process automation are visible in the everyday practice of digitized purchase orders that are being used by almost all small and large businesses these days.
Imagine how much time will be wasted if someone has to fill out purchase forms and collect customer information for each order manually.
The automated system allows organizations to quickly pull in customer information and maintain purchase history records effortlessly.
While this is a very simple example of how business process automation streamlines an otherwise cumbersome task for business owners as well as customers, it has been offering many advanced benefits in the form of process automation and workflow management for organizations worldwide.
This blog will reflect on how business process automation can benefit various industries and business domains.
Impact of BPA on Various Industries
1. Healthcare
The healthcare industry has just emerged out of highly scary times when life went into a bubble due to the pandemic. While the whole world was captivated in their homes, the healthcare professionals had to be out and about to save lives
After the waters were tested during the pandemic, a technological upgrade has become one of the core necessities in the healthcare industry.
Embracing new-age automation solutions can help the healthcare industry meet the needs of resources, efficiency in the supply chain, cost cutting, etc. while keeping them prepared for unforeseen circumstances.
iotasol has contributed extensively to simplifying healthcare operations and cutting costs through its automation solutions. We created a digitized system that allowed healthcare professionals in Australia manage their practice more effectively in single and multiple clinics.
This digital system allows patients to book their slots with their respective practitioners online thus saving them from waiting for hours in hospital premises ( proved to be a boon during covid times).
At the same time, this system became a centralized location where doctors could store patient treatment history, scans, and previous prescriptions in the record, thus giving them a birds-eye view of each patient's health status in a foolproof way during every appointment.
Management of invoices and bookings became a freeze for hospital receptionists as well as patients. The efficient bookkeeping feature helped in maintaining timely financial records for the hospital.
The top benefit of Business Process Automation for the Healthcare Industry
a. Smart Health Analysis
Automating Healthcare systems in a hospital can contribute immensely to the efficiency of clinical checkups. Patient Data Management via a centralized digital system can lead to diagnostic precision and a clear understanding of the health status at any given time. This leads to increased patient satisfaction.
b. Telehealth services
Telehealth services like booking appointments from the comfort of their homes, online consultations, direct messaging services, and remote diagnosis by leveraging Artificial Intelligence based Technology can ensure optimum patient care.
Another vital business domain that can benefit from process ad workflow automation is Finance
2. Finance
Automation can help businesses save money by reducing the need for manual labor and decreasing the risk of errors that can lead to costly mistakes. In addition, automated processes can help businesses identify areas where they can cut costs or streamline operations.
Here are the major benefits of Finance Automation
a. Eliminates errors
Automation can provide a platform to process all the information on vendors, invoices, contacts, etc. at one centralized place without juggling between different tools or manual information processing.
Financial automation software that can integrate with other financial tools can streamline financial operations effectively.
b. Expedites approval process
Manual reviews are a major bottleneck in the financial workflow. However, automation can facilitate an effortless way of getting approvals at every step before any transactions are made.
c. Process improvement
Different financial organizations like taxation companies, real estate firms, and accounting firms can make use of automation for managing their clients and their respective transactions.
iotasol has built robust software solutions for businesses including extensive amounts of transactions and brokerages regularly.
3. Logistics
Logistics is another major industry that can reap the benefits of business process automation. Automation in the logistics industry refers to the use of technology for the more accessible and efficient delivery of goods and services.
The main ways of Automating logistics business are
a. Inventory management
An automated inventory management system helps in keeping proper track of inventory at any given time across different locations.
Forecasting and tracking inventory as well as estimating demand becomes easier using an automated system rather than getting bogged down by spreadsheets to manage and analyze such stats.
