Despite the widespread use of technology to make our everyday lives easier, many back-office tasks are still reliant on archaic manual methods.
Some enterprises in various sectors, for one reason or another, remained resilient to new technologies and seem to be operating in the dark ages. They still rely on spreadsheets and manual processes to fulfil their regulatory obligations.
On contrary, their C-suite and Operational Managers are probably quite happy to be using their phones to pay for online shopping, book flights and even access and control their home-based devices like lighting or central heating. So, if they are happy to simplify their personal lives, why aren’t decision makers embracing the readily available technologies to improve their back-office processes and automate some of its functions?
If it’s not broken, don’t fix it
Despite the many benefits of back-office automation (both in terms of financial return on investment and productivity gains), there seem to be an ongoing excuse: “If it’s not broken, don’t fix it.” Inexperience and a fear of change could also be listed as reasons for the C-suite withholding or is it perhaps the fact that the average COO stays in their job for around three years, which is often too short and discourages them from medium- and long-term planning needed for digital transformation.
Yet, if the enterprises don’t make effort to digitise and automate their functions, they will lag behind and miss out on growth opportunities. “Digital” is a new “normal” and the only way to build a smarter and more efficient business.
Gearing up for change
Pursuing innovation is not just about allocating resources, but also about changing attitudes within the company. The successful digital transformation has to start at the heart of business and not be restricted to the front-line staff. Technology may not drive change in its own right but act as an enabler.
By embracing technology, employees can be reassigned to perform more valuable work that requires a human touch. They can learn new technical skills and become more efficient and effective as a result. This would lead to growth in performance and an overall reduction in operating costs.
Strategic, not tactical
The ability to replace the tactical solutions with the long-term strategic one is crucial and allows businesses to take a more holistic approach to automating the back-office processes. This would enable enterprises not only to grow but also to embrace the inevitable ongoing challenges of financial control and regulatory requirements.
Our software OPX is a one-stop solution specifically developed to digitally transform back office operations. Highly modular and quick to implement, OPX supports the end to end processes of back-office operations from the digital capture of incoming work, back office workforce optimization, robotic process automation to the automated output of customer communications.