The Joy of Finance: Summary

Unlocking the Hidden Potential of Automation (Capgemini)

The Joy of Finance curates and summarizes the best finance and operations content for busy folks.

 

How do companies automate successfully?

Source

It’s no secret that automation is reshaping the way organizations function. Capgemini looked at the factors driving leading companies to aggressively push for automation technologies. The firm released a report on the subject and explained some of the insights they uncovered as part of their “Beyond the Buzz” podcast series.

Substantial improvements in operational efficiency, productivity, and convenience all result from incorporating automation into your business model. This of course, leads to reductions in errors and profit loss, as well as improved strategic vision.

Scoring quick wins

During the study, Capgemini researchers analyzed 64 use cases of automation across seven different sectors to discover which factors produced the most benefits. The main two aspects they measured were the complexity of implementation and the actual benefits realized in terms of savings and revenue.

Based on this data, the researchers characterized the combination of low complexity and a high return on investment as a quick win. Somewhat surprisingly, only one in three use cases demonstrated quick wins for their organizations. One of the main reasons for this resulted from a common misconception that more complex equals more benefits.

Report Download:

How 6 Companies Went From VC Funding to Profitability