Executing a Real Plan
- April 16, 2019
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If you have been thinking about automation or performing small pilots, now is the time to get very serious about executing a real plan.
It is coming and we all know it, the “R” word. In a recent luncheon, Warren Buffet was interviewed and he was asked about the economy. He said “The recession is coming. We track 20 categories of volume at BNS (Burlington Northern), and they are all showing softness.” He also said recessions are a natural part of capitalism, and he hopes to see many more in his lifetime (haha…he’s 88).
Recessions are a good opportunity to grab market share if you are in a better position than your competitors when it comes to efficiencies.
Looking at cost savings and cost avoidance strategies are natural focal points but there is also a very real need to address revenue protection in order to continue growth. Customer retention is key because it is the platform that allows growth to continue in a down market and you will be surprised just how effective automation can be when viewed through that particular lens.
Intelligent automation technologies are on the scene and they all have a specific enabling theme on business process improvement with the name of the game being rapidly creating positive outcomes. Outcomes will happen one way or another but if they aren’t both successful and meaningful in terms of yield you will have wasted more than just precious time, you lose flexibility and options; you can have a successful project that met the requirements yet doesn’t move the needle on financial measures, it happens all the time.
Having a very experienced partner steeped in intelligent automation by your side increases success and yield exponentially. As an example of intelligent automation technology, Robotic Process Automation (RPA) is a wonderful tool in the right hands. I was just reading a very nice shout out from one of our clients in Austin who we worked with recently on a financial process automation using RPA. The subject line from them started with “While you were sleeping…we were processing!” and went on to describe the algorithm of touch points and systems this process encapsulated. This was one of those processes that was very manual, error-prone and impossible to mistake-proof and took a long time..aka, a ton of waste. But not any more! Freeing up people to do higher value work at no additional cost is a huge win. Any day, every day.
The recession is coming. You will dictate whether or not your business can grow and prosper through softer times. In the end, it is all driven by choice. So make the choice to get going. We are happy to discuss the art of the possible with you.