Tight budgets and the threat of a recession have executives looking for ways to reduce costs and increase efficiency. That’s why business leaders are rushing to automate in an effort to save money before the end of the year.
In fact, Invisible surveyed hundreds of business leaders last week to find that 67% of business leaders are planning on automating more of their business in the future. 48% intend to do so before the end of the year.
When we look at business leaders’ attitudes toward the market, we see why. 8 in 10 of those we surveyed said they anticipate the economy will enter a recession in the next 12 months.
These leaders see automation as the solution - more than half told us that automating more of their team’s work would ease their concern over the looming recession.
Why has automation become a popular solution?
Many businesses see a return on investment in a matter of months. Here’s why:
There are a number of ways businesses can automate, from robots that take orders and process payments to software that manages inventory and tracks sales. Automation can also include tasks that have traditionally been done by human employees, such as customer service and data entry.
Robots and software can do the job faster and more accurately than humans, and they don't require salaries or benefits. Automation can also help businesses become more efficient and competitive, and it can free up employees to work on more important tasks.
Still, some leaders are hesitant to turn to automation.
3 in 10 business leaders we surveyed said they weren’t planning on automating more of their business in the future. Another 28% said their businesses weren’t automated at all (though perhaps they are overlooking computational processes like book-keeping that are certainly automated to some degree).
Many cite concerns about job losses and a lack of human oversight. These concerns are not unfounded; automation has already led to significant job losses in a number of industries.
However, these losses are largely due to the replacement of human workers with machines, rather than the automation of tasks that people were already doing. In fact, automation can often lead to the creation of new, higher-paying jobs.
We can even look way back at one of the earliest examples of automation for evidence of this: the invention of the printing press led to the creation of new jobs in the publishing industry.
Business process automation, for example, is the use of technology to automate business tasks. This can include things like automating your data operations or delegating your invoicing - two of Invisible’s top processes.
By delegating these tasks, you can free up your time to focus on your core business strategy without jeopardizing headcount.
Others believe that automation will lead to a decrease in the quality of products and services. We disagree.
Not only can automation ensure business process outputs are more precise and consistent - Invisible’s model take it a step further.
Our approach, worksharing, includes human QA in conjunction with automation to make certain of it.
Turns out, this article perfectly encapsulates that vision.
Artie, our GPT-3 content creator, generated this article in seconds. Andrew, a human member of our marketing team, edited the article for quality.