Bill Gates on Process Automation

 “The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.”

Robotic Process Automation (RPA) will benefiit your organization, as long as the process being automated is efficient.

Computers assume that humans are perfect, so it is important to address all the exceptions within a certain process to get the maximum benefit of the automation, otherwise, you will be deceived of the outcome.

Assuming that Accounts Payable is the process to be automated, the expectation is that the invoice should include key information, including a reference to the PO number.

PO compliance must be paramount, not just for purposes of automating a process, but to ensure your internal control environment is strong. Quite often, organizations tend to request a service and issue POs afterwards.

Each time an invoice received from vendors lacks a PO number, it will require further investigation that will not allow the bots to do their part.

Processing an invoice involves a lot more. The reference to the PO is only to illustrate a portion of the overall process to automate. Each step in the process requires similar attention.

All the efforts invested on streamlining your processes will reap a great benefit of a process automation.

You do not need to be a large corporation to adopt digital transformation

At a recent conference I attended about digital transformation, a question was asked about what size a company should be to enroll on a digital transformation journey. The response confirmed what my experience has been. You do not need to be a large corporation to adopt digital transformation. A company of any size can adopt it.

We have heard more cases of companies going digital, forced by the pandemic, forced by the pandemic, and managing to survive while some competitors remained as observers. While the first ones managed to survive, the latest ones are going through difficult times, even some of them going out of business.

Several examples can be found across different industries. A Toronto restaurant that decided to go digital and developed an app to take on-line orders for curbeside pick-up, using nice bags to deliver the meal with accompanying instructions to listen to a Spotify playlist created to resemble the restaurant’s ambiance at the comfort of your home. So far, they have managed to stay in business.

Diigital transformation does have a high impact on a business’ performance

A BCG perspective published in 2016, found that “across a range of industries, companies with high technology intensity have higher gross margins than those of the average performers”.

You may have initiated the journey to digital transformation.

You might have enrolled on a digital transformation process without consciously realizing it, by making the decision to implement an integrated ERP system. Such a first step builds the foundation for what could be a series of initiatives leading to serving your customers’ needs in a better way, giving you an advantage in relationship with your competitors. You just need to continue with the journey.

As Bob Iger said in his book The Ride of a Lifetime:

“Now more than ever: Innovate or die. There can be no innovation if you operate out of fear of the new.”

Bob Iger

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