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The benefits of automating processes

By Cognizant

Billions of dollars’ worth of operating costs can be saved by automating rote processes, a report shows.

Beyond the silver screen, the most common robots in our world are the ones that make cars, unload ships, assemble products or vacuum floors. Now, the world is seeing a different kind of robot - astute software tools for knowledge work.

Automation can help to lower the need for humans to perform repetitive tasks, such as manual data entry. These humans are then freed up to do high-level work.

This makes excellent business sense in terms of cost savings: according to research by Cognizant, a consultancy, intelligent process automation is contributing at least 10% to the revenue growth of early adopters.

Consider that a decade ago, the non-interest operating expense of all federally-insured banks in the US was about $275 billion. If the findings in the Cognizant survey were applied, this expense could be reduced by 15%, or savings of about $40 billion.

To find out more from Cognizant, complete the below form with your contact details and download their research report.