ShortCut: Intelligent Automation - Page 2

Beyond the obvious potential of enabling more efficient processes and decisions, there are further benefits that intelligent automation brings to businesses. Firstly, it helps companies to cope with constantly growing compliance requirements. For instance, built-in documentation can establish a flawless audit trail, while automated compliance checks prevent and identify critical issues. Secondly, intelligent automation creates the basis for new business models, as it makes unique process data available and creates digitally steerable processes. A PATH TO OWN YOUR AUTOMATED FUTURE As discussed before, many companies are risking their future by not giving sufficient priority to building a new operating model centered around intelligent automation and enabling their employees to strive within that model. There are three key factors for business leaders who want to pave a path for their organizations toward a sustainable competitive advantage in the future (see below): AUTOMATION REQUIRES NEW SKILLS There are many indications pointing to the conclusion that automation will not result in a lower number of jobs overall. Rather, as has been the case in past industrialization waves, new opportunities will outweigh the redundancies. But of course, that is not necessarily true for any individual sector or organization. Nonetheless, the interests of companies and individuals align nicely when it comes to investing in enabling employees in the areas of automation and digitalization. While few jobs will be replaced completely, most will be augmented by machines. The skills required to work effectively with machines and harness their full power will be critical for most employees to succeed. Building the workforce of the future by hiring new talent and retraining existing staff will be a key challenge that companies automating their business should take on now. In order for automation to have the far-reaching impact that companies aspire to, automation technologies should be seen as a driver of new business models rather than just an enabler. CEOs can no longer treat intelligent automation as a side project. It not only lays the foundation of tomorrow‘s competitive advantage but also has a tremendous impact already today. BJÖRN RÖBER Partner, goetzpartners A PATH TO OWN YOUR AUTOMATED FUTURE STEP 01 CONCERTED PROGRAM To reap the full potential of intelligent automation, it is often required to tackle processes end-to-end or even to establish new operations within or outside the existing organization. Local optimization of functions or regions needs to be complemented with overarching answers to critical questions concerning data strategy, cybersecurity, impact measurement or algorithms. STEP 02 LEARNING JOURNEY Since digitalization affects nearly everyone, companies’ digital-enablement initiatives also have to address the entire workforce. This starts with easily accessible tools to send employees on a learning journey who are so far rather repelled by technology jargon. It then continuous with clearly defined pathways that enable employees to acquire essential skills about how to apply advanced technologies and how to benefit from new ways of working. STEP 03 PARTNERING APPROACH More than ever, make-buy-partner decisions are a critical success factor for businesses. Concepts that have been pioneered in agile software development, such as micro services and APIs, make collaboration a promising proposition where high transaction costs rendered it inefficient in the past. Companies that want to take a leading role in intelligent automation have to make clever choices about where to join established platforms and how to create a dynamic network of start-ups operating at the edge of the industry, as well as which alliances to form. © goetzpartners, July 2019 · All rights reserved, including text, images, graphics and other content of this publication.