Automation has emerged as a key enabler of digital ambitions worldwide and will be a critical operational elixir once the prolonged coronavirus pandemic recedes. From retailers to oil and gas giants, businesses of all shapes and sizes are rapidly deploying automation to keep operations humming. In “The Digital Enterprise in the Post-Coronavirus World,” Forrester details how a wide range of firms are embracing automation to simplify and streamline core processes, reduce labor costs, and increase time to market.
Coming on the heels of a global outbreak, these strategies reveal three key insights that businesses of all sizes should keep in mind during a post-pandemic world:
Businesses will rely on automation to strengthen their defenses against new viruses. Businesses that use automation can respond quickly to change than their digitally laggard peers. Automation equips firms to drive revenue growth.
Automation is a rapidly emerging market, and adoption will accelerate as price and performance continue to improve. Global spending on automation is anticipated to increase from $92 billion in 2016 to an estimated $129 billion by 2020.
Forrester’s 2016 “The Digital Enterprise in the Post-Coronavirus World” report forecasts that 79% of the world’s Fortune 500 companies will use automation to proactively address infectious threats. These firms will invest nearly two-thirds of their total IT budgets on technologies that integrate anti-malware, endpoint security, application security, and Social Security Administration (SSA) authorization. These trends represent a significant shift in the way businesses are managing their IT operations.
The surging demand for automation is not just confined to Fortune 500 companies. Smaller companies are also adopting an array of strategies to mitigate risk, boost productivity, and improve customer satisfaction. For example:
Small and midsize firms (SMBs) are adopting automation on a global scale for a variety of reasons. A significant number of these organizations include SMBs that operate in areas such as retail, healthcare, transportation, education, utilities, oil and gas exploration and production, hospitality/food services and entertainment. These organizations have adopted automation as their primary cost management strategy while at the same time striving to stay competitive in their respective industries.
Firms continue to invest in automotive technologies to reduce IT labor costs and streamline everyday business processes. Businesses are increasingly turning to automative technologies to optimize IT operations. For example, banks are using automotive technologies such as robotic process automation (RPA) and cognitive computing systems to automate back-office financial operations, enabling them to be more efficient and reduce headcount. In the retail industry, fashion apparel companies are using new types of self-service technology that include virtual fitting rooms. These technologies can be used by customers to view different styles of clothing, colors, sizes, and other options before purchasing any item. In the U.S., nearly 90% of restaurants are using automotive technologies to create personalized digital customer experiences while they wait for their orders.
These use cases represent only a small subset of automotive strategies that businesses are deploying worldwide. In fact, the use cases are growing at an increasing rate as more companies adopt automation across operations for new ways to create new revenue streams or reduce costs.
As the pandemic recedes, it is evident that automation will play a key role in how business leaders navigate through the post-pandemic world. From retailers to oil and gas giants, a wide array of businesses are turning to automation to keep operations humming.
As businesses look ahead, they need to consider three key insights into how they should approach automation going forward.
- Businesses will rely on automation to strengthen their defenses against new viruses. In the post-pandemic era, companies that use automotive technologies effectively can respond quickly to emerging issues than those without any technology in place.
- Businesses that use automation can respond quickly to change than their digitally laggard peers. In a post-pandemic world, agility is key to your long-term survival and success. At a time when digital tools are rapidly evolving, automotive technologies provide the ability to deliver new capabilities in days or weeks vs. the months or years it would take to get many tech projects off the ground without automation.
- Automation equips firms to drive revenue growth and will be a key enabler that will help businesses gain a competitive advantage in the next decade as they seek to provide an increasingly seamless customer experience.
The digital enterprise in the post-coronavirus world is about speed, agility, and innovation that addresses customer and market needs on an ongoing basis. The path to the digital enterprise is the automation of business processes that will enable businesses to better manage risk and leverage new opportunities.
Interested in reading more about automotive technologies within businesses? Automation for Businesses and Why it is Helpful discusses why businesses would benefit from the implementation of automotive technologies.
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