Since the Covid-19 pandemic came into existence, many businesses had to streamline their services to lower their expenditure. The companies had to innovate and do more with the little they have. Therefore, it’s high time for businesses to shift to AI and Automation into the workplace to achieve all these.
What can we expect in 2021?
According to the senior vice president for Japan, Asia, Pacific, and Greater China Andy Watson, he foresees most business organizations turning to Artificial Intelligence in 2021. Automation will be essential for every company soon. Automated machines and Artificial Intelligence will keep growing as many businesses still want to maintain their hybrid remote-working models. The innovation will facilitate communication between workers who are working from home. Automating invoices and expenses will enable payment of their partners on time and help to lower the budget.
Many businesses will adopt Artificial Intelligence algorithms to enable them to make quick decisions on time. The adoption will create financial transparency to meet business needs that were brought by the COVID-19 pandemic. The algorithms’ use will help manage the spend in real-time, improve budget and liquidity, eliminate errors, maximize profit, and increase compliance.
How are things changing?
Artificial Intelligence revenue has been increasing according to a report issued by IDC in August. The revenue has increased by 12.3% totaling $156.5 billion in 2020, for example. Therefore, the use of new technology in businesses keeps on advancing daily. For instance, it has changed the way customers buy goods, how suppliers deliver, and how companies compete. Above all, Artificial Intelligence is currently leading in digital transformation initiatives by bringing improvements and innovations to enable businesses to run their operations swiftly.
AI and machine learning remove manual processes and adds intelligence to the applications, boosting their competitiveness and improving productivity. A recent study reviewed that employees at the Asia Pacific submit their expenses manually by filling a form and enclosing physical receipts. The company can be in the best place if it introduces workplace automation in its administration and finance processes to make more profit and improve their staff’s satisfaction.
So what now?
When the pandemic emerged in early February and March, companies had no thoughts of such an occurrence. The organizations had to invest more in their digital transformation initiative to continue their operations. The pandemic made firms acknowledge their weaknesses which called for improvement in IT infrastructure.
It is now clear that businesses have to replace manual processes. Companies have to use AI-powered invoice management to purchase orders, capture invoices, and audit documents accurately automatically. With Covid-19 in place, the only option left is a shift to workplace automation. So, companies’ high time is to embrace the new technology since employees are currently working from home.
Businesses don’t have the time to do everything manually. As a business ourselves, we understand the need to automate. So, we created a system to make day to day procedures a little bit easier. Our solutions are easy to use and extremely efficient, with simplicity always at the core of what we do. To see how dita can help streamline your business workflow, please contact us today