For some, the word 'automation' resonates with major staff cuts or a world taken over by robots. Though the reality is in fact, a whole new workforce evolution.
Automation is gradually inspiring innovation-led developments, greater productivity gains, work-life balance, career development opportunities and of course, increased profit margins.
Here, we provide a lowdown on the future of automation, including how businesses are utilising automated platforms to scale their business for long-term success.
Skip the Lower-Level Tasks and Up-Skill Talent
Imagine this: You've just hired a highly experienced employee to run operations within your business, a senior role with a competitive salary, yet they're spending hours on end fulfilling monotonous tasks, feeling stressed and without sufficient support - this is where automation comes in.
"Demand for tech and digital skills is growing across all functions yet employers place increasing value on human skills as automation scales and machines prove better at routine tasks."
- Skills Evolution 4.0, ManpowerGroup Solutions, 2019
Here, it's imperative to not confuse automating employees with automating job tasks. The automation of lower-level tasks means refocusing your energy on upskilling your company's talent and thus, enabling employees to better use their advanced skills to prioritise building your business.
Automation Will Create More Jobs Than It Costs
Despite the popular belief that automation will cost people their jobs, it's actually anticipated to create a whole lot more.
In a recent report, Skills Evolution 4.0, ManpowerGroup conducted a survey of 19,000 employees across 44 countries worldwide, which revealed that a phenomenal 87% of employers "plan to increase or maintain headcount as a result of automation for the third consecutive year."
"Robots are helping to boost productivity and proving to be critical to economic growth. Failure to invest in automation risks missing out on creating wealth and jobs."
Further aligning with the 'The Future of Jobs', the World Economic Forum anticipates artificial intelligence will create 58 million new jobs by the year 2022.
Scale Your Business for Long-Term Success
Photo Courtesy: Mangano IT
Leading by example comes Mangano IT, an industry-leading provider of IT services and solutions, based in Queensland, Australia. While dedicated to equipping organisations with the optimal tech tools they need to operate with greater efficiency, their very own financial department needed to end what they described as a manual "nightmare."
Prior to automating their accounting processes, Mangano IT's former Head of Finance was spending more than 40 hours a week correcting manual input errors and double entry, maneuvering between systems to chase money and inevitably, feeling immense pressure.
Now, Mangano IT uses a leading business management platform together with industry-renowned integration tools to balance their books. Mangano IT also utilises a single system that syncs across all platforms with zero accounts receivable stress "at the click of a button."
By completely automating their accounting process, their Finance Administration Manager now spends a mere half-an-hour on accounting each week.
If you would like to learn more about payroll automation software, specifically integrating between ConnectWise Manage or Datto Autotask PSA to Xero or QuickBooks Online, get in touch with our friendly team today, and we'll get back to you as soon as possible. In the meantime, discover 4 Reasons Why You Should Make the Shift to Cloud Accounting here.