In today’s rapidly evolving landscape, automation has become an absolute must for organisations to become more efficient and scalable, and remain at the forefront of innovation. By 2030, almost 30% of the hours worked globally could be automated according to Mckinsey Global Institute. Therefore, businesses must leverage automation technologies such as Power Automate to streamline their operations, reduce manual labour, and minimise errors to undergo digital transformation and compete with their competitors.
This blog post will cover 6 reasons you need to automate your business, specifically focusing on how Power Automate can be the catalyst for achieving this.
Increase Efficiency
Smartsheets report found that more than 40% of respondents spend a quarter of their workweek on manual, repetitive tasks such as data entry, file sorting, and responding to standard email queries. Power Automate can significantly enhance efficiency by automating these routine and time-consuming tasks.
By automating these tasks, Power Automate frees up valuable employee time with 76% of workers saying that this would allow them to spend more time on the rewarding aspects of work. This increase in efficiency is especially beneficial in scenarios where staff are stretched thin or in small teams where every minute counts.
Automating mundane tasks reduces employee fatigue and increases overall productivity, addressing the problem of underutilisation of human resources in repetitive, low-value tasks. In fact, 59% of workers said they could save 6 or more hours a week if their repetitive tasks were automated.
Reduce Errors
Manual processes are inherently prone to human error, which can lead to inaccuracies in data, inconsistent outputs, and costly mistakes. Raymond R.Panko published a paper highlighting that when manually inputting a data entry into simple spreadsheets and documents, the probability of human errors was between 18% to 40%!
Power Automate addresses this issue by ensuring that tasks are performed consistently every time, thus significantly reducing the chances of error. For every 10,000 data entries, automated systems might make 1 to 4.1 errors, whereas humans could make 100 to 400 errors. This is crucial in processes like financial reporting, customer data management, and inventory tracking, where accuracy is paramount.
Additionally, the paper found that spreadsheet errors slip past checkers 50% of the time. By minimising human intervention in routine processes, Power Automate helps maintain high standards of accuracy and reliability in business operations, solving the problem of human error and the time and resources spent in rectifying these errors.
Cost Savings
One of the most compelling arguments for Power Automate is its potential for cost savings. Businesses can lose up to $1.3M every year on inefficient processes according to a report by Formstack and Mantis Research. By streamlining operations and improving efficiency, Power Automate helps cut operational costs and improve process efficiency. Automation also allows businesses to handle increased workloads without proportionally increasing their staff, thus reducing labour costs.
Poor data quality costs organisations an average of $12.9 million. Automated workflows can reduce the need for overtime work and the expenses associated with manual errors and their rectifications. The problem of escalating labour costs and operational inefficiencies, especially in scaling businesses or those with fluctuating workloads, is effectively addressed by implementing workflow automation.
Improved Process Speed
Speed of operation is another critical benefit of Power Automate. Automated workflows can process tasks much faster than manual handling. This rapid processing capability is particularly advantageous when dealing with customer service requests, order processing, or any scenario where response time is crucial. In the U.S., the estimated cost of customers switching due to poor service was $1.6 trillion in the past year.
By ensuring the immediate and timely execution of tasks, Power Automate helps businesses enhance their responsiveness and agility. This quick processing capability addresses the problem of slow response times and process bottlenecks, enabling businesses to serve their customers better and keep pace with market demands.
Scalability
Scalability is a fundamental requirement in today’s dynamic business environment. Power Automate allows businesses to easily scale their operations to meet increased demands without the need for significant changes in their existing workforce or infrastructure.
Automated processes can be scaled up or down with minimal effort, ensuring that businesses remain agile and responsive to changing market conditions. For example, by automating timesheet and payroll tasks, businesses can save the equivalent of 1.5 full-time employees, freeing up resources to redeploy workers to more strategic positions.
This scalability is particularly beneficial for businesses experiencing rapid growth or those with seasonal peaks in demand. Power Automate solves the problem of inflexibility and the high costs associated with scaling up operations, especially in labour-intensive processes.
Data-Driven Decision Making
In an era where data is king, Power Automate facilitates data-driven decision-making. By automating data collection and integration with tools like Power BI, businesses can access real-time insights and analytics. This timely and accurate data is invaluable for strategic decision-making, trend analysis, and forecasting.
Power Automate addresses the problem of delayed or inaccurate data reporting, which can lead to missed opportunities or flawed strategic decisions. According to IDC, workers spend 40% of their time just looking for and organising information. With automated data workflows, businesses can ensure they are making informed decisions based on the latest and most accurate data available, and that they can find the data they need when they need it.
Automate Your Business
If you’re seeking an automation consultancy to help drive transformative change within your organisation and pinpoint areas for automation, look no further. In a world where efficiency, scalability, and innovation are non-negotiable, leveraging technologies like Power Automate to revamp your operations is critical. Get in touch for a free consultation call to see how we can help automate your business.
