Vuram, a global hyper-automation services company that specializes in low-code enterprise automation has successfully driven digital transformation for several happy enterprise customers across the globe. Vuram’s hyper-automation technology stack encompasses business process management (BPM), robotic process automation (RPA), optical character recognition (OCR), document processing, and analytics. During an email interaction with Nitisha Dubey; Mani Krishna Rama Subramani, Vice President- Delivery and Operations (APAC & MEA), Vuram emphasized the need of automation. He says, instead of replacing humans with robots, intelligent automation will reimagine roles across organizations, maximizing human potential enabling people to deliver better quality of work with minimal supervision and higher productivity.
How A.I. and automation can reduce labor costs for businesses while offering employees more jobs and upgrading their skill sets?
Labor is one of the essential costs for any type of business and includes everything from wages to costs associated with hiring and retaining people, insurance, contributions to retirement funds paid by the organization, plus other associated costs. It’s no wonder that making the best out of people and their effective utilization has been at the forefront of driving automation.
Let’s take a quick look at how automation / artificial intelligence (AI) can help achieve this by looking at this simple example of invoice processing, which cuts across every Business.
Automation helps businesses increase productivity and profitability without expanding infrastructure and other resources. Compared to most alternatives to increase output, it takes minimal investment in automation to benefit from increased productivity.
- Repetitive Tasks – Many of the mundane and repetitive tasks can be easily automated using many of the tools existing in the market. If we look at the example above, many of the manual tasks that human does in the process can be automated, with human involvement only for approvals or exceptions if we extrapolate the simple scenario to a team of people handling invoices day in and day out.
- Productivity: Mundane, repetitive, and complicated tasks can be automated, allowing employees to perform more qualitative tasks to increase productivity, delivering better results. By automating predictive and repetitive tasks, employees can focus on core skills and areas such as relationship building, problem-solving, and creative spaces. Automation can reimagine jobs to increase job satisfaction and enable people to deliver better results. Implementing automation technologies could provide faster turnaround times with the highest accuracy and compliance.
- Promote innovation: The employees are offered more time for critical thinking and innovation by enabling robots to manage mundane tasks with minimal human intervention. Automation also allows enterprises to combine synergies of previously unrelated divisions or industries to develop new offerings. Various hyper-automation technologies can provide better visibility of the resources, data, and results, enabling enterprises to explore new avenues.
Why does hyper-automation make humans more human and can be a teammate rather than a threat to human workers & employment?
Hyperautomation allows humans to invest in areas that require emotional and cognitive involvement, focusing more on qualitative tasks while the robotic workforce complements efforts by automating supporting functions.
Hyperautomation will shape a hybrid workforce in the future, with robots taking over repetitive and complicated operations all-day round. At the same time, humans can focus on jobs that demand emotional and cognitive skills. Instead of replacing humans with robots, intelligent automation will reimagine roles across organizations, maximizing human potential enabling people to deliver better quality of work with minimal supervision and higher productivity.
What are the major changes faced by businesses when implementing A.I and automation?
Businesses can experience increased productivity since the enterprise can function around the clock faster with minimal supervision. The automation technologies can improve the speed-to-solution while delivering the highest levels of accuracy and ensuring compliance.
Automating business functions and operations can enable resilience and sustainability to ensure business continuity during times of crisis. The technology solutions allow businesses to continue with minimal human intervention while communicating each stage of progress efficiently, supporting clients and customers. With more enterprises adopting remote working and ways to increase profitability without scaling resources, the automation solutions will witness wide-scale adoption across industries.
The automation solutions could bring various business units together to develop ingenious solutions and new offerings in the market. Data availability across levels helps businesses have better visibility and control over operations, improving their efficiency.