Business process automation (BPA) has infiltrated nearly every industry as innovative technologies combined with unprecedented operational challenges continue to reshape the workplace. The intelligent Process Automation Market is expected to grow to USD 51.35 billion by 2032 – a reflection of the increasing demand for efficient, streamlined, and agile business processes. From small businesses to global enterprises, the benefits of BPA are clear: increased efficiency, reduced costs, improved accuracy, and enhanced decision-making capabilities.
What exactly is business process automation?
Simply put, it is the use of technology to automate recurring tasks and workflows within a business. This can range from simple tasks such as data entry to complex processes like supply chain management and even to entire job functions. By automating these tasks, businesses can not only free up valuable time and resources but also reduce human error and improve overall productivity. [cta title="Read our comprehensive blog to learn all about business process automation." link_text="Read more" link="/blog/what-is-business-process-automation/"]
Impact of business process automation?
According to a2022 McKinsey survey, “For many, automated systems will account for 25 percent of capital spending over the next five years, results from the 2022 McKinsey Global Industrial Robotics Survey show. Industrial-company executives expect to see benefits in output quality, efficiency, and uptime.”To be sure, the age of automation is already well underway in most organizations. According to a recent McKinsey Global Survey of business leaders spanning a broad range of industries, approximately . Food and beverage industries, alongside retail, are expected to account for 15%, while automotive would average 8%. The McKinsey article continues, “Some aspects of productive activity are more amenable to automation than others are with routine tasks at the head of the line. Activities such as picking, packing, sorting, movement from point to point, and quality assurance are already automated to some extent, and these will continue to see heavy investment over the coming years.”There's a decrease in and an increase in productivity as more companies leverage BPA. People are able to focus on human-centered operations. According to the McKinsey survey, “Activities such as assembly, stamping, surface treatment, and welding, all of which require high levels of human input, are less likely to be automated in the short to medium terms.”
