Interesting Business Automation Statistics You Should Know

Interesting Business Automation Statistics You Should Know

Automating repetitive tasks can do much good for you and your business. Automation technology can save you lots of time and energy. That means that you can achieve more in less time. Besides, because you don’t have these mind-numbing jobs, you can focus on more important things.

Almost every industry has benefited from business process automation solutions. Some popular forms include Twittering and online shopping. More and more activities are becoming automated.

Automation technology can also benefit your business, so it is important what this means. This summary of business automation statistics will be of great help to you. As you read, you will get some exciting insights into what it can do. You will notice that as of 2022, there are things that work and things that are less successful.

Automation Market Statistics

Revolutionary technologies help to automate business processes and result in higher efficiency. Because this frees up business resources, it has given an impulse to the digital transformation of many organizations.

This is a logical explanation for the global expenditures of digital process automation. The estimated global digital transformation budget is nearly 1.8 trillion US dollars. In three years time, this number will rise to a staggering 2.8 trillion US dollars.

A recent survey by McKinsey and Co. showed that two-thirds of businesses have an automation pilot program running. This applies to at least one aspect of their business processes. That is a huge leap compared to the 57% in 2018.

Mordor Intelligence has the following statistic for you. The compound annual growth rate (CAGR) of the marketing automation software market is 19%. That means an expenditure forecast of 16.87 million USD in 2025.

Data and analytics are the main focuses of the digital transformation era. Almost 90% of businesses see information technologies as key to their operations.

Business Process Automation Statistics

Business process automation is a modern tool to lower operation costs, process times, and human errors. These business automation statistics show why many companies invest in workflow automation.

  • The business process automation market had grown to 8 billion US dollars in 2020. By 2026, this number will have risen to 19.6 billion US dollars.
  • 94% of interviewed entrepreneurs say that they prefer to have one unified workflow system. That means a significant shift from the current situation where several systems work at the same time.
  • Almost a third of all companies have at least five automated departments. Any department can benefit from some workflow automation. The benefits of business process automation have become more relevant since the COVID-19 pandemic.
  • The departments that have the highest level of automation are engineering and IT. They account for 40% of business automation. That is not to say that other departments do not invest in automation. The finance and accounting departments come in third. Other departments that use automation technology are
  • Task-switching takes up a lot of productive time, some 40%
  • Office workers spend more than half their time searching for files
  • Robotic process automation (RPA) devices can mimic some human manual tasks. The RPA market value was $1.4 billion in 2019. Researchers forecast a CAGR of 6% for the period between 2020 and 2027.
  • In 2020, 24% of enterprises started using low-code process automation systems.

Automation in Sales

Automation technology is also taking over the sales departments. As a result of the current trend, 47% of sales teams want to put automation into place to make their work more efficient. The following business automation statistics support that shift:

  • Sales automation technology can boost productivity by 14.5%. On the other hand, it brings marketing costs down by 12.2%.
  • More than half of business professionals have definite plans for implementing automation technology. For many of them, the objective is to improve customer experience.
  • Other business process automation solutions focus on nurturing leads. This had led to a 200% increase in conversions for several companies.
  • 23% of all automation initiatives use Salesforce. This is to illustrate the power of this CRM that finds use in many business processes. Slack is a close second.
  • Many B2B marketers have benefited from automation technology integration in their work. It has led to an average of 10% increase in sales average.
  • Statistics from Sales Fusion showed the success of process automation technology. 77% of the interviewed business owners were able to increase conversions. Besides, increasing sales, automation decreases overhead costs by 12.2%. B2B marketers saw an increase of 10% in sales by implementing automation.
  • Another investigation, performed by Nucleus Research shows similar encouraging statistics. Automation increases sales productivity by 14.5% and reduces overhead costs by 12.2%
  • Sales automation software can use a browser. history to automate ad personalization. This can increase most sales by an additional 20%
  • By next year, 30% of sales and other customer experience activities will be in the hands of robotic process automation.
  • According to some estimates, the annual costs of service customer requests amount to $1.3 trillion. Companies that employ Chatbots have found a 30% decrease in customer service costs.

Automation in Marketing

Because of different forms of automation, it is now possible to interact and engage with customers in a personalized way. Others use marketing automation software to perform various repetitive tasks. This is of great help to marketers in automating and customizing campaigns. The software can now extract, process, and analyze the results of a marketing campaign.

  • Some 51% of companies use automation software in their marketing department. 58% of B2B companies are planning to implement marketing automation technologies soon.
  • Of the leading companies in marketing strategies, 67% use some form of automation software.
  • Marketing automation expenditure increases by 14% each year. This will result in spending of $25 billion in 2023.
  • 51% of companies use process automation software for part of their marketing process. Only 9% have a fully digitalized marketing department.
  • Most marketers (74%) agree that the main purpose of marketing automation is to save time. Not a very surprising statistic.
  • For most marketers (80%), automation leads to better lead generation and conversions (77%).
  • Almost all online marketers consider the automation of business processes to be critical to success.
  • Atomizy performed a survey among marketers. These are the top three challenges they face when it comes to using marketing automation systems:
    • Creating quality automation (16%)
    • Integrations (14%)
    • Content creation (10%)
  • Omnisend found that automated omnichannel marketing leads to a retention rate of 90%. The same team found that it leads to an increased purchase rate of 250%.
  • As mentioned above 80% of marketers saw an increase in lead generation. Most of them also noticed an increase in conversion rates. Venture Beat also found that out of 43 automation software platforms, 50% increased leads and conversions.
  • Some larger businesses have been able to save $130,000 a year in advertising costs.
  • Process automation finds application in ad display. In 2016, only a third of ads were automated. In 2019 that was more than 72%.
  • Using marketing automation in social media advertising can save more than six hours a week. Running a company’s social media page is a lot of work. So, leaving some of the work up to bots leaves you a lot of valuable time. Time is money, so using automation software will save you money in the end.
  • Automated marketing software is very effective. Using software instead of manual email blasts results in 58% higher conversions.
  • It is also very fruitful in lead nurturing. Automated emails improve revenues by 10%
  • 75% of B2B revenue is the result of triggered automated campaigns.

Workforce, HR, and Skill Automation Statistics

In recent years, HR software has taken over many manual tasks. A lot of the data storage and processing in HR departments has moved to the cloud. The software that processes this type of data is human capital management (HCM) software. It can model different statistics, such as salaries, benefits, and employee performance.

It is evident that HCM software is gaining popularity very fast. The following business automation statistics illustrate the reason for the popularity.

  • Statista surveyed business leaders in human resources. One of the survey’s findings is that business process management software generated $2.4 billion in 2019. That was an increase of $600 million compared to 2018.
  • Men have a higher chance to get laid off as a result of automation initiatives. McKinsey Insights shows that 24% of women could face unemployment by 2023 as a result of automation. That number is 28% for men.
  • Around the world, 74% feel that there will be an impact on their workforce as a result of automation. Workflow automation can result in a lowering of 11-50% in the workforce for some companies.
  • On the bright side, 80% of business leaders see an acceleration in their work processes. It enables them to upscale remote work.
  • Yet, 40 to 160 million women will need to change jobs as a result of automation.
  • Although there are serious results for many employees, there are also many benefits for them. There is an increasing need for skilled and trained people. 49% of companies have already started automation training programs. These enable their employees to deal with changing circumstances.
  • Almost half of businesses are planning to reduce their workforce as a result of process automation. Yet, 34% of companies will increase their workforce for the same reason.
  • Most employees feel that automation will help them in their work. The reasons mentioned are higher efficiency, growth, and improved productivity.
  • A survey by Gartner shows that business process management will also be subject to automation. By 2024, automation will take over 69% of the repetitive tasks will be taken over.
  • Most people are aware of what is coming. 70% say they are ready to compete with robotic process automation. They should not forget, however, that they will need to improve their skills and efficiency.
  • The purpose of most automation initiatives (51%) is to improve the efficiency of the employees.

AI and Machine Learning in Automation

Artificial intelligence and machine learning are key in enabling business process automation. Many think that artificial intelligence and machine learning are the same but that is incorrect.

Artificial intelligence refers to the science of making intelligent software, machines, and bots. These are able to make decisions and solve problems now done by humans.

  • Deloitte did a survey in 2020 that shows that 73% of business leaders have an AI or ML technology program.
  • A McKinsey survey shows that 60% of participants from the retail branch have implemented AI. That is an increase of 35% compared to the year before. It is one of the fastest-growing industries.
  • Since the rapid expansion of AI took off, 88% of finance and insurance business leaders have increased their AI efforts. That number is 76% for IT businesses. Even before the pandemic, these industries were leaders in digitalization and automation initiatives.
  • A well-defined AI is important for success. 43% have a clear understanding of what they are doing and what they want to achieve.
  • The reasons for implementing automation and AI are:
    • Decrease costs (38%)
    • Improve customer experience (34%)
  • AI has led to an increase in revenue for 66% of companies.
  • A survey among HR professionals showed that this number was 56% in this area.

 

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Conclusions on Business Automation Statistics

The statistics showed how much and how fast business process automation is growing. Many have experienced the benefits of business automation statistics. New automation ideas will appear as more companies transition into an automated environment.

Automation is something to look into if you want to expand your business. But don’t think that automation is a magical work that will make your business grow overnight.

If used in the right and with hard work it can make your business more efficient and productive.

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