In a world where time is money, manual and repetitive tasks eventually become bottlenecks to your organization’s growth. Adding a Business Process Automation (BPA) service can redefine your efficiency, liberating your staff from tedious tasks to focus on innovation and strategy. The practice has become increasingly popular to address competitive pressure and market demands.

In fact, 80% of organizations will adopt intelligent automation by 2025. That said, just because others are hopping on the bandwagon does not mean the added budget line does not need proof of its return. Below, learn how to prove the return on investment (ROI) of BPA and how it will boost your business.

Indirect vs Direct ROI

It is important to note the different ways of calculating your return; both will require some judgment calls.

  • Direct ROI is straightforward to calculate but requires determining what can be directly attributed to a BPM project. Some examples include cost savings or increased profit.
  • Indirect ROI is much more difficult to quantify. Examples include an increase in quality or a decrease in risk.

Determining Direct ROI

First, calculate the project’s cost to determine your investment’s direct ROI. Be sure to include the initial and ongoing costs for the BPA software and service.

Other direct costs can include:

  • Internal resources spent on the project
  • Salary/wage time spent
  • BPA team costs
  • Subject matter expert’s time

Over the next six months to a year, make a great effort to record the costs saved and profits made by the new system. Start by identifying areas where the system is directly used. An example could be your bidding process or the data behind lead generation. Next, collect the data and determine your increase in profit. Compare your past numbers with the ones affected by and collected due to BPA.

Many BPA services will do this for you. At Forty8Fifty Labs, performance monitoring and optimization are continuously provided with our services going as far as to identify opportunities for improvement, ensuring your automated processes evolve with the changing dynamics of your business. We’ll also perform a comprehensive process analysis of your business process, identifying bottlenecks, redundancies and areas that will benefit most from automation while aligning with your organizational goals.

Utilizing a BPA service that collects and monitors your cost savings will efficiently simplify the process of calculating your direct ROI.

Indirect ROI

There are several areas that are much more difficult to quantify. Indirect ROI can come from areas such as:

  • Reduced Risk – Even when committed by accident, it could be said that brand protection from quality failure, compliance negligence and legal pursuits is priceless.
  • Industry Compliance – Without BPA, proactively meeting industry baselines can be daunting. With automation, you will receive new insights on where you land against industry standards, better informing your developers, sales, and marketing teams.
  • Improvements to Quality of Product/Service – When determining the ROI of improved quality, approach the equations as if set quality issues were to arise. Determine how this will impact your customers and overall numbers.

Indirect ROI requires some assumptions but is invaluable in determining the potential return from adding automation. Comparing these results will prove how BPA will improve everything from your workflow, data integration, and migration to document management and security compliance.

If you are ready to transform your operations with business process automation, Forty8Fifty Labs is ready to support your journey. Our BPA services offer a pathway to streamlined processes, reduced costs, and enhanced productivity.

Let’s collaborate to automate your business processes and propel your organization toward unparalleled success. Connect with us today to explore how our expertise can shape your business process automation for an organization that excels.

Related Posts:

The Unmatched Value of Infrastructure and Cloud Automation

Unlock Business Value: Leveraging Data with AI and Analytics