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How Automating Processes Saves Companies Time and Money

By Jake Stevens

Daily tasks and processes are usually seen as something to not change or adjust. The thought process on this is similar to the old saying, “If it ain’t broke, don’t fix it.” Falling into this complacency can cost companies time and effort that could be saved if processes were improved and updated. For example, if a daily process can be reduced by 10 minutes, it can save a company 43 hours in costs over a year. This is similar to an employee working an 8-hour day for a week. Imagine what could be completed with an additional 40 hours; that is all because the time it takes to complete a daily process was reduced by 10 minutes.

Having tasks/processes that need to be completed daily can be daunting and time-consuming. Though improving internal processes can be difficult, it’s the first step in saving time and money. Not only can it save time and money but also make the lives of employees easier. Being able to spend more time on other tasks can make employees feel more productive. With improved and clear processes, it can change employees’ perceptions and attitudes towards these jobs.

Transition

In our example, we’ll look at a process that can’t be automated, so we’ll look at improving the efficiency of this task. Successfully implementing this new process starts with preparing for what needs to be done and how to accomplish this. Mapping out a breakdown of tasks is key. This doesn’t need to be a lengthy breakdown, but it does need to define each component of what will be improved and how. Members of the company should be updated on the goal of the new process to collectively work together to improve the overall company performance.

Execution

After planning the new process, the execution can be fairly straightforward if adequate time was spent in the transition phase. The entire team must be notified of the execution launch. As we are all aware, multitasking is a myth, and all effort should be focused on this new process to determine its efficiency. The next step in the execution process is detailing the new process in time, skills, and steps needed to complete. Unlike the planning process, it is important you accurately record the time it takes, as this might be different than originally planned. Repeating this process multiple times over multiple days will allow for better accuracy in understanding the overall completion time. Understanding that daily tasks can vary in time day-by-day is why it is important to track over multiple days. After the execution of the new process and documentation, it’s time to analyze this new process.

"Only 4% of companies measure and manage their documented processes."
Lukasz Tartanus Procesowcy.PL

Analysis

Analyzing the new process can be done in multiple ways. One simple way is to determine the average amount of time it takes to complete the task. Comparing the completion time before and after the new process is a great way to see the time and effort that is saved. The amount saved can be analyzed now as the time that can be spent on new projects. However, this new implementation is only beneficial if we can show improvement and progress towards a company’s goals.

Improving a process by 10 minutes can seem like a small amount of time, but this can have a meaningful impact over a span of a year. This can also lead to saving effort as well; the effort that can now be used to focus on other tasks and projects. Reducing repetitive tasks and unnecessary motions can lead to happier and more satisfied employees. Employees can receive internal satisfaction knowing their daily tasks will take less time while producing the same quality of work.

"Only 2% of companies surveyed said they always documented business processes."
BPTrends

Howard Bank Case Study

Looking at a real-world example, Howard Bank, a bank that serves the financial needs of people in Baltimore City and surrounding counties, was looking to improve its account opening processes. The end goal for this was to reduce the account opening time so they can spend more time discussing financial needs with their customers. Analyzing processes and understanding that there was room for improvement was the first step Howard took in reaching their end goal. Howard reached out to Fiserv, an organization that helps find ways to improve operational effectiveness. The result yielded three outcomes; it created an entirely paperless account opening process, streamlined the entire process from the front line to the back office, and automated account opening procedures. Howard Bank cut the time spent on account opening procedures from 90 to 20 minutes, saving over an hour. These improved processes allowed Howard to meet their goals and spend more time interacting with customers and helping them with their financial needs.

Learn More About How We Automate Processes

At White Lion, we know how important saving time can be. We strive to be as efficient as possible to give our clients the best experience and service we have to offer. Saving time allows our team to focus more of our efforts and time on our clients, ultimately leading to higher client satisfaction. During the execution phase, we mentioned that it is necessary to detail the new process in time, skill, and steps. By comparing newly documented processes to old ones, we can analyze improvements and determine best practices. Onboarding new clients becomes easier with documented processes and even makes communication more efficient and accurate. In turn, we are always looking to improve our processes and work. With these steps, we are consistently analyzing ourselves. Complacency can be a company’s biggest weakness, and it’s important to continue to look for improvements.

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