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Efficiency is key to increasing productivity and saving money. Streamlining processes and improving efficiency is necessary for any company looking to stay at the top of their game.
If you’re exploring process automation to give your business the edge it needs, start with these three steps.
1. IDENTIFY WHICH PROCESSES WOULD MOST BENEFIT FROM AUTOMATION. From employee management, such as automatic scheduling and company-wide communications, to core processes within individual roles, such as data entry and analysis or regulatory reporting, process automation can be found in a variety of fields and skillsets. In fact, 50 percent of work already performed could be automated, according to McKinsey Global Institute’s 2017 report, “Jobs Lost, Jobs Gained: Workforce Transitions in a Time of Automation.” Consider what level of work automation will be right for you and your business.
2. DETERMINE HOW PERFORMANCE (OR SUCCESS) WILL BE MEASURED. There is more to a successful automation than improving employee efficiency. Consider the end goal of the process and quality of the results once automated, employee experience and happiness, implementation and maintenance costs—all important KPIs that are unique to your business.
3. TEST FOR SCALABILITY. Sustainable transformations require the time and assets to make a full adjustment to the work process, along with individuals with the necessary capabilities to create and maintain automated systems company- and project-wide. Beginning with a small team of cross-functional employees, provided with the appropriate training, can confirm value and provide a roadmap for scaling up.
From specialized products and services to dedicated account support, Sterling National Bank’s team of experts can support your goals to increase efficiency in your business. Contact your Sterling relationship manager or call 855.274.2800 to learn more.