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With businesses losing a staggering 20-30% of revenue to inefficiencies annually, automating workflows could be a game-changer in battling these losses as findings by the Kosmos team show.
“Automating workflows doesn’t just save time, it unlocks superpowers within your organization,” asserts Vernon Southward, CEO of Kosmos. While the efficiency gains of automation are well-known, Southward highlights a range of lesser-known benefits that can propel your business forward.
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Let’s delve into five unexpected powers unlocked by streamlining your workflows:
1. Enhanced Creativity and Problem-Solving
Imagine dedicating less time to repetitive tasks and more time to strategic thinking. A study by McKinsey Global Institute found that automation can free up to 25% of a worker’s time. This translates to a significant boost in creative potential. Consider a marketing team spending less time manually sending email campaigns and more time brainstorming innovative content or analyzing customer data to personalize future campaigns.
2. Improved Customer Experience (CX)
Automating mundane tasks, such as generating automatic replies to customer inquiries or setting up email sequences for order confirmations, reduces response times and increases customer satisfaction. According to the Zendesk Customer Experience Trends Report 2023, more than half of customers will switch to a competitor after a single unsatisfactory experience. By streamlining your workflow, you demonstrate your commitment to efficient customer service.
3. Data-Driven Decision Making
Workflow automation tools often come equipped with data analytics capabilities. These insights can unveil hidden trends and patterns within your workflow, allowing you to make informed decisions based on real-time data. For example, a retail business could analyze purchase data captured in an automated checkout process to identify popular products and optimize inventory management.
4. Increased Employee Morale and Retention
Repetitive tasks can be monotonous and demotivating for employees. Automating these tasks allows them to focus on more engaging and challenging work, leading to increased job satisfaction and lower turnover rates. A study by Gallup found that employees who are engaged in their work are more profitable than those who are not. By automating tedious tasks, you empower your employees and foster a positive work environment.
5. Unforeseen Cost Savings
While the initial investment in automation tools may seem significant, the long-term cost savings are often substantial. Automating manual workflows reduces errors, eliminates the need for additional manpower, and streamlines resource allocation. According to Forbes, organizations can save an average of $4 million per year by automating repetitive tasks.
Vernon Southward aptly summarizes the true value of workflow automation: “It’s not just about doing things faster, it’s about doing things smarter.” By embracing automation, you unlock a range of unexpected powers that can significantly enhance your business performance, empower your workforce, and unlock new possibilities for success.
Credit: https://getkosmos.io/
