A digital workforce is a team of software robots (ie. Bots) that work alongside human employees to undertake manual processes, allowing humans to focus on value-adding tasks. A digital workforce can be either large or small, but should be able to grow or downsize on demand depending on business needs.
Defined by Deloitte as “the natural evolution of the workplace”, a digital workforce consists of all the technologies that workers within an organization use to complete work in a modern workplace. The types of technologies range from HR applications, core business applications, emails, instant messaging, enterprise social media, and social meeting tools. Any manual task completed using a mouse & keyboard can be streamlined using RPA.
Automation is a powerful technology allowing businesses to deploy bots that can preform any task that requires a mouse and keyboard.
Fortunately in the current economy, most business has a digital-aspect attached to it whether that’s data processing, data entry, or customer interactions. Deeper understanding of a business is needed to overview what tasks can be streamlined in your business. With Eden Automation, we provide a comprehensive strategic guide to accomplishing your goals.
Bots, or software robots, are task-centric; Digital Workers are built to augment human workers by performing end-to-end business processes. For example, a Digital Worker can take on the task of regularly submitting invoices from start to finish. These activities include calculation, management of records, transactions, queries, and advanced actions – all in one fell swoop. The benefits of RPA depend on the business, but even a small investment can result in a large ROI.
A model of automation’s powerful performance comes directly from an Eden Automation partner in the Accounting Industry. Using RPA, the partner reduced the processing-time for individual tax forms from 35-minutes to ~30seconds per form. This increased their productivity by 7000% without changing a single aspect of their business!
According to the Future of Work Survey 2020, more than two-thirds of Americans (67%) think positively of automation, agreeing with the statement, “I believe it could assist me with tasks and make my job more efficient.” In a 2019 Forbes Insights study, 92% of companies saw an improvement in employee satisfaction after RPA was deployed. And, it wasn’t just a little bit improved: more than half (52%) said employee satisfaction increased by 15 percent or more.”
When asked in the Future of Work survey what tasks they would like assistance with, the participants most commonly answered:
All of these things can easily be automated using RPA.
Automation directly impacts organization’s reliance on employee labor. Additionally, automation increases employee happiness and productivity.
High turnover rates can negatively affect a company and its employees in many ways. With the constant need to hire and train new employees, it is easy to veer from true mission and vision of the organization. By retaining employees, companies can provide a higher caliber workforce that positively affects the bottom line. Businesses can lower turnover rates by providing adequate training, rewarding employees for a job well done and creating a company culture of trust.
Employee turnover has a direct impact on company revenue and profitability. For example, according to the “Organization Science” magazine, the estimated cost of a lost employee earning $8 per hour at a retail chain store is $3,500 to $25,000. Aspects contributing to this include hiring expenses, training labor, lost sales and productivity. Obviously, the revenue impact can be much higher depending on the industry, employee’s position and wage.
Additionally, unforeseen consequences of turnover are;
Bots handle their tasks in a highly effective and error-free manner, something which is directly reflected in the quality of the services you offer. Avoiding costs resulting from errors brings your business real savings.
ie; One of our partners in the accounting industry was able to reduce the processing-time for individual tax forms from 35-minutes to ~30seconds per form. This increased their productivity on this specific task by ~7000% without changing a single aspect of their business!
It’s far easier to scale a digital workforce than a traditional one due to instant deployment capabilities. A bot can perform tasks, large or small, in conjunction with humans. This is called “human-in-the-loop” and allows for human inputs when needed. It’s capable of instantaneous growth.
So, what allows a digital workforce to adapt quickly?
Scalability comes from a combination of a flexible automation service provider, and use of best programming practices to ensure your needs are met quickly.
What’s more, software robots are active and productive 100% of the time – compared to the average human employee, who is only productive 60% of the time and interrupted from work an average of 56 times per day.
Besides, robotic process automation technology eliminates human error, while ensuring any legal and regulatory requirements in data processing are met. It increases consistency with standardized processes, as well as the scalability potential of the business – all while reducing costs. This is true even if there is a change in a specific process RPA is deployed to handle. It’s always faster and cheaper to change a few lines of code in an RPA system than it is to retrain dozens or even hundreds of employees.
They are compliant and consistent – once instructed, they execute reliably, and the organization retains full control to ensure the bot is operating in accordance with existing regulations and standards. These bots reduce the time it takes to complete repetitive tasks. This reduces costs while freeing up employees to focus on more value-added, human-strength activities that do require decision-making, judgment, and human intelligence – leading to higher employee satisfaction.
Operating costs directly impact your pricing, which is a top competition factor for any industry. Embrace RPA solutions to substantially reduce the expenditures and address cost objectives in your company. This will release cash for innovation and more value-driven activities. Even a small investment in RPA provides you with a quick and significant payback.
Cut your business process costs significantly to offer competitive prices and overtake your competitors with digital speed to drive better financial outcomes.
As an example, RPA can cut costs for financial service companies by up to 70% according to KPMG*.
The cost of 1 robot is 3 times lower than the cost per person dealing with high volume rote tasks (Full Time Equivalent).
Want to stay focused on what you are truly passionate about at your company?
Don’t get bogged down in things that can be streamlined.
Automating redundant activities can free up valuable time so you can focus on those things that you care about most. Bots streamline processes that are tedious, allowing your employees to focus more on high value tasks such as;
With the repetitive work taken care of, your business can focus on the true growth factors that allow you to reach your goals.
The Digital Workforce is leading the charge in what today is called, “The Fourth Industrial Revolution (4IR)“. While it will make certain job roles redundant, hyperautomation presents an opportunity to re-skill & up-skill employees to be better prepared for a digitally-driven work environment.
The world today has reached a point where the technology needed to create a Digital Workforce can fit the SMB budget. What you need—at least if you want to see significant benefits from your automation—is a solid strategy. Eden Automation is here to lead you through a strategized plan that will ensure your business continues to grow while reducing costs and productivity.
Our automation has proven to be both time and cost effective. If you’re looking to save money, save time, and increase growth; it starts with a conversation. To learn if your business could benefit from automation, reach out for a consultation.