Is automation a good choice for small businesses?

Although once the stuff of science-fiction, automation is no longer just a tool of the future. It's here right now — and it can have a big impact on your small business. Here's everything you need to know before you decide if automation is the right choice for your company.

What is automation?
According to IBM, automation is an umbrella term referring to technology that does repetitive tasks for you. It's  a lot like the robotic butlers you might see in science-fiction movies, but far simpler to implement, faster to use and cheaper to attain. Automation can be based on code, human input or artificial intelligence, depending on the way you want to utilize it — and, regardless of the source, its end goal is to be efficient and user-friendly.

Here are some parts of your small business that can be automated:

• Invoicing
• Workflows
• Digital marketing
• Customer service
• Software updates
• Document processing

Automation statistics
With the basics out of the way, the next step in analyzing business automation is to understand how it's being utilized in the current landscape. Here are a few statistics to shed light on the automation revolution.

• It impacts numerous professional positions.

Statistic: A 2017 study by McKinsey & Co. found that 6 out of 10 professions can be 30% automated. This means that most workers currently spend 30% of their time on tasks a machine could do.

What this means for small businesses: Don't worry — this statistic doesn't mean robots will be stealing your job. Instead, it's a testament to the fact that automation can save time and money on tasks that take up a significant portion of your workday, allowing you to focus on more important things.

• It's being adopted quickly.

Statistic: According to Entrepreneur Asia Pacific, business use of AI increased 270% in a single four-year period ending in 2019.

What this means for small businesses: To keep up with rapidly changing consumer culture, small businesses need to be aware of all the latest technology — and automation is a perfect example. Overlooking this promising solution could make your brand look like it's being "left behind" as competitors and other industries adapt.

• It's changing customer expectations.

Statistic: In a collaborative study conducted by LeadResponseManagement and InsideSales, researchers found that following up on a lead is 21 times more likely to be successful after 5 minutes than after 30.

What this means for small businesses: Today's tech-savvy customer is used to interacting with automated tasks and expects quick, precise service, which means that they rarely have patience for arduous manual processes. If they express interest in your product or service, they want to address and engage with that interest right away — otherwise, they'll find a new way to spend their time. Automation makes immediate responses not just possible, but powerful.

How small businesses can benefit
Now that you know what automation is and how it's impacting the professional world, it's time to start thinking about automation in your own business. Remember that even the most advanced technology has a human behind it — so your small business will still be yours, even when you're not responsible for every little detail.

Here are a few ways small businesses can benefit from automation:

• Simplifying processes

Automating processes makes them easier to deal with. From ideation to implementation, an automatic process requires far less work to maintain — and won't add any stress to your day. Simpler processes make it easier to manage larger, more complicated tasks and free up your staff to focus on work only a human can do.

• Saving time and money

Small businesses often feel they're running short on two things: time and money. By utilizing automation, you can address both of these concerns at once. Automation technology is affordable and can be scaled to meet the needs of any business — and, along the way, it will save even more money by eliminating the need to hire extra staff, reducing your reliance on other pricey solutions and more.

• Reducing the rate of human error

Humans make mistakes. Some of those mistakes can go unnoticed for weeks, while others cause immediate chaos — but either way, human error hurts small businesses. Automation reduces the rate of error by performing tasks the same way every time and eliminating human risk factors, which, in turn, means you can rest easy.

The final word on automation
From science-fiction novels to everyday technology, automation has come a long way — and, chances are, it's going even further. A wide range of statistics show that automation's popularity is soaring as it finds a home in most industries — and in the expectations of your customers. It's clear that automation is no temporary trend, which means your small business can benefit from getting an early start.

Plenty of tasks can be automated, but legal advice can't! To get some real human help protecting your small business, contact The Law Offices of Donald W Hudspeth, P.C.

Categorised in: Starting a Business in Arizona

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