In early 2020, the world watched in horror as businesses shut up shop and normal life was put on hold. Almost overnight businesses were told they had to function with a “remote” workforce. For the first time in history, employees on a global scale worked from home.
The foundations of normal office life—team meetings, administration, water-cooler chats—had to be replaced, and companies, large and small, stepped forward with their solutions. Zoom, famously, became an overnight success. It offered a ready-made solution for employees needing to meet and saw sales rise by 326% during 2020. Its success was largely down to its simplicity and user-friendly interface.
The rise of the process automation market
A key takeaway from Zoom’s success is that business processes in a remote-working climate must be simplified. Another is that tailor-made products, adapted for the specific needs of employees, are more successful than one-size fits all. When the pandemic struck, a number of organizations needed to reinvent processes that had worked fine “in-office” but struggled to transfer to a remote working environment.
The need for business continuity
Processes had to be rapidly implemented to keep organizations functioning, be simple enough for employees to adapt, and created for specific employee needs. This is where process automation companies stepped in.
With a dispersed and digitally bound workforce, organizations realized that processes previously involving paper documents, face-to-face contact, or signature capture needed to be digitized. Many of these processes, from invoicing to help desk and customer support, could be automated. They tapped into a new resource: the process automation market, which offers streamlined services for paperbound or manual processes.
The future is automation
Since 2020, the process automation market has grown exponentially. When “business as usual” is no longer possible, enterprises must adapt, and results show that an overhaul in process and document management was long overdue. Many organizations have planned a digital makeover and Covid-19 has been the perfect catalyst, with trends toward automation set to continue into 2022. From 2020, the global business automation market is expected to double, growing to USD 19.6 billion by 2026.
The process automation opportunity
At its core, process automation uses technology to complete business processes more efficiently. It can be seen, now, across organizations, from customer service, with automated chatbots, to marketing, with digitized, streamlined campaigns, to HR processes like onboarding and offboarding employees.
Opportunities to automate processes in business are everywhere, and companies which tap into the process automation market earlier will realize just how many processes can be standardized and streamlined company-wide through automation.
A key takeaway from Zoom’s success is that business processes in a remote-working climate must be simplified. Another is that tailor-made products, adapted for the specific needs of employees, are more successful than one-size-fits-all.
The benefits of process automation are simple
Automating processes that would otherwise require a paper or manual element is a more efficient way to complete that process. Process automation is a tool for people to:
- Cut out repetitive administration tasks
- Reduce bottlenecks created by broken processes
- Improve data accuracy
- Reduce—to a significant extent—the overheads in your organization
The process automation market, and those companies tapping into it, recognize that paper and manual processes are no longer a reliable way to do business. Companies that make the transition earlier will not only outrun but obliterate their competition, especially if multiple automated processes are leveraged company-wide. For organizations that automate processes across departments—HR, Finance, Marketing, Sales, Legal, etc.—the implications for the company, in terms of costs, employee satisfaction, employee retainment, agility, and efficiency, are so stark that enterprises would be foolish to retain paper-led or manual systems.
Specialist automation solutions are key
Process automation companies like Nintex recognize the need for automation across sectors. Our platform offers a range of process automation solutions, from document generation and workflow automation to robotic process automation. Our clients range from schools to banks, and each of their processes can be deployed quickly with minimal coding.
So far, over 10,000 public and private sector organizations, including more than 50% of the Fortune 500, have turned to the Nintex Process Platform to automate previously manual processes.
Some of our most popular use cases include:
- Platforms for remote education (online repository for student work; automated homework assignments)
- Loan processing
- Quote-to-cash processes
- Contract management
- Account receivable processes
- Help desk support
- Equipment services reminders
- Employee onboarding
- Policy underwriting
- Invoice management
- Chatbots for customer service
The need to act now
When the pandemic struck, it provided an opportunity for companies around the world to overhaul their processes. In order to remain competitive, and with a hybrid working model here to stay, companies must invest in further digital infrastructure, identifying labor-intensive processes in their business and providing streamlined alternatives. The stakes are high: adapt now or enter a post-pandemic landscape unprepared.
To learn what process automation companies like Nintex can do for your business, get in contact with the Nintex team today.