The Upsides of Automation
Doing more with less – that’s what automation has enabled. It is also the key to putting your business's vision into action with minimal monitoring and maximum effectiveness. In an ever-saturated market, every competitive advantage matters, regardless of the size or nature of your company.
With industries around the world constantly innovating to perform faster, the reasons for automation are manifold – here are five key aspects to consider:
1. Improving efficiency
Organisations need to consider automation as a long-term strategic investment. Once the initial implementation expenses are covered, automating activities regularly results in fewer work hours, less paperwork, and improved customer satisfaction. As a result, you'll be able to increase your profit margins and reallocate finances to produce more value.
According to a study by Accenture, AI-driven automation has the potential to increase profitability by an average of 38 per cent by 2035, resulting in $14 trillion in economic benefit across 16 industries in 12 economies.
By migrating from On-prem SQL server to the Azure Synapse, DAMAC has been able to reduce internal data requests from its data users to 1/3 of the original time. This has ensured the data architecture is scalable and is able to handle the ever-growing volume of our data and new data sources. Furthermore, they have managed to achieve zero downtime in data processing capabilities, which has allowed updates without having the system go offline.
2. Liberating human capital
Human capital is an essential part of any organisation, and one that is increasingly strained. By relieving employees of tiresome tasks, automation can be a wonderful liberator of human capital in your firm. As a result, managers will be able to better manage their resources and allocate high-value projects to their personnel.
According to a report by WorkMarket, 53% of employees believe automation can save them up to two hours per day, while 78 per cent of corporate leaders believe automation can free up to three hours per day.
3. Enhancing employee retention
Employee turnover has also decreased as a result of the adoption of automation. High turnover is common in jobs that need individuals to execute repetitive and mundane tasks.
Employee happiness rises when you free up your staff from mundane routines and assign them creative and exciting activities. Employees that are happy with their jobs perform better and are more devoted to rallying around your company's goals for longer periods of time.
4. Reducing human error
Human errors can have a wide range of consequences, from unpleasant email typos to costly data breaches. Human errors in data handling and processing cost the average multinational corporation $62.4 million per year, according to market research firm IDC.
Humans make mistakes. Even if we have the necessary abilities, expertise, and determination to complete a typical task, we are bound to make a mistake at some point. Human error is also reduced when your workflows are automated.
DAMAC is among the early adopters of cognitive machine learning solutions within the industry and has adopted Robotic Process Automation (RPA) technology across core areas, including finance, sales and IT.
This has allowed the company to successfully reduce operational costs over the last few years, while simultaneously improving customer service and employee engagement, along with efficiency of its core business functions.
5. Improved customer satisfaction
According to a recent Capgemini poll, 730 out of 1,000 organisations believe automation may help enhance customer satisfaction. Over a five-year period, early adopters who began employing automation technologies to optimise their client services reported a 19 per cent boost in operating margins.
What does this tell us? You might already be gathering a lot of data on your consumers and putting it to good use. Machine learning can also be used to work with data that is not already stored in a standardised way. Whether it's email inquiries or product usage, all of these data points can be efficiently collected and, more crucially, automatically evaluated and understood.
DAMAC recently introduced the DAMAC Central app, a one-stop shop for centralising all communications, collaborations, decision making, self-services for management, all departments and all staff in the organisation. The DAMAC Living app, which has already won multiple awards, has been recently launched for community-related services for residents and tenants — which seeks to make a number of services and processes easier and more seamless for homeowners — from settling payments, to uploading documents for property handover, making amenity bookings and getting special discounts on services, among others.