Companies around the world are struggling with rising work volumes, so much so that firms are on track to hit breaking point by 2020 if they do not tap automation to handle the volume of tasks being generated. A huge eight out of 10 UK companies (81%) are set to hit that breaking point in just three years, according to research by ServiceNow.
According to the ServiceNow survey, more than a third indicated that they will need automation to handle the volume of tasks being generated in just one year’s time. Two-thirds of UK companies said that data from mobile devices and the Internet of Things is contributing to the ever increasing work overload.
The report findings also prove that business will not only benefit from automation in regard to rising work volumes, but will also benefit from productivity, revenue and job benefits.
91% of respondents agree that intelligent automation will increase productivity in the business and already, four out of 10 business leaders have already begun deploying intelligent automation in one or more business processes.
Looking at the bottom line, the report found that highly automated companies are 6x more likely to experience revenue growth of more than 15% versus companies with low automation. For example, those companies with more than 20% revenue growth are 61% automated on average, whereas those with flat or negative growth are only 35% automated.
Chris Pope, Office of the CSO, ServiceNow said: “In a world of smarter homes, cars and commerce, the workplace has been a holdout—but not for long.
“The shift to greater automation is coming now to transform everyday work across the UK. The financial payoff for automation is one companies can’t ignore.”
Automation was also found to provide job opportunities, while also connecting employees back to original career interests. Although, many employees fear job losses due to the evolution of automation (88%), UK execs believe automation could even pave the way for new jobs (66%).
One of the main obstacles UK execs cite for a lack of automation adoption is the resistance of employees to change. A vast 93% of execs say their employees spend too long on admin tasks with up to 15 hours a week spent on manual tasks.
The addition of automation will increase the demand for skills such as collaboration and creative problem solving. “UK companies need to develop and evolve their teams’ skills to help them thrive in an automated world,” said Pope.
The top sectors cited to benefit the most from an automated “reboot” are HR, Customer service and IT.