Only 4% of businesses track and monitor internal processes, which means they lack some crucial knowledge about what’s going on inside their systems. And if you’re one of them, questioning why your optimization initiatives keep failing, discover 3 important facts about business operations and find out for yourself the answer.
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Broken processes are lowering the employee retention rate.
A study by Nintex revealed that the employee retention rate at some US companies is declining due to broken business processes of different categories IT, onboarding, administration, and data management/ sales processes.
In specific, technology troubleshooting comes first in the top 5 most broken processes, according to 62% of participants, with 25% blaming IT staff for delays in technology-related issues handling.
55% of surveyed people have difficulty accessing tools and documents that enable good job performance, and 46% of surveyed people suffered from onboarding paperwork.
In the administration department, 57% agreed that the annual performance review system is among the most broken while another 49% thought locating documents is not streamlined.
Broken processes in technology troubleshooting, access to tools and documents that enable good job performance, annual performance reviews, promotions, and employee onboarding are causing US employees to seek new jobs. Source: coeusage.com
Not just US companies experience broken processes. As processes are everywhere, they can be broken anywhere, resulting in obstacles for businesses, such as increased operational costs, low productivity, loss of business opportunities, etc.
More than ever, we see the need to improve business processes to ensure efficiencies and employee satisfaction.
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75% of 2,800 interactions an average employee does per day are unstructured.
The “as-is” processes is not as streamlined as expected. Source: Forrester
The workforce conducts an average of 1.4 trillion interactions per day, which equates to 2,800 interactions/day/employee, as reported by Soroco. What’s worth mentioning is that 75% of those are undocumented, unnecessary in the pre-defined operating procedures but always present in the form of work done on chats, documents, emails, etc.
Now, shall we have a look at one of your employee’s work graphs? We can clearly see that the “as-is” process is not as streamlined as the planned one.
In fact, business leaders spend much time and effort developing efficient processes which only work in the ideal world. In the real world, employees need to perform more unstructured activities, accessing more than 10 applications just to complete one single process (Forrester).
Though enterprises are fully aware of the importance of optimizing processes, they seem to take the wrong actions. Forrester’s report reveals that up to 72% of businesses choose manual methods to discover their operations, which makes it hard to fix the broken processes. Parts of enterprises only focus on optimizing the processes in plans and simply ignore the “as-is” ones.
80% of useful business data remains unused.
According to IDC, businesses have not fully exploited 80% of their data. In fact, they don’t choose to limit themselves to only 20% of available information. The problem is that the remaining 80% is unstructured, comes in different forms, and is hard to be used by computer programs.
Unstructured data is a valuable source of information for process optimization. Source: qvalia.com
Enterprise data contains a treasure trove of unexplored insights. What businesses require is technology solutions to carefully study the available data and processes before implementing any optimization initiatives, including automation.
Conclusion
A study by Forrester showed that 44% of businesses improve their processes to enhance productivity and unlock real business value, instead of focusing on cost-saving. And technology becomes the key to achieving this goal.
akaBot, the pioneer Hyperautomation solution provider, has partnered up with Soroco, the leading SaaS organization specializing in digital transformation to introduce our operation optimization solutions with RPA and Process Mining integration.
Soroco’s Scout is involved in the discovery stage of automation as it reveals the real business processes on the ground with inefficiencies and bottlenecks. The power of Process Mining enables akaBot’s RPA robots to better perform their job – taking care of repetitive, labor-intensive, and time-consuming tasks.
Besides developing important platforms for automation, including RPA and IDP, akaBot chooses to collaborate with the leading technology vendors in the world to improve our technology capabilities and complete our Hyperautomation ecosystem.
Explore the combination of RPA x Process Mining and experience our solution here today!
Reference:
5 Business Process Management Statistics You Should Know
Definitive Guide to America’s Most Broken Processes
The Future Of Data Revolution Will Be Unstructured Data
Khai thác dữ liệu phi cấu trúc
Trends in Process Improvement and Data Execution
akaBot (FPT) is the operation optimization solution for enterprises based on RPA (Robotic Process Automation) platform combined with Process Mining, OCR, Intelligent Document Processing, Machine Learning, Conversational AI, etc. Serving clients in 20+ countries, across 08 domains such as Banking & Finances, Retails, IT Services, Manufacturing, Logistics…, akaBot is featured by Gartner Peer Insights, G2, and ranked as Top 6 Global RPA Platform by Software Reviews. akaBot also won the prestigious Stevie Award, The Asian Banker Award 2021, etc.
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