Webinar: Process Productivity and Efficiency Through Process Automation and Intelligence 2024
Tuesday, October 29, 2024 at 2:00 pm ET
Meet the Authors
Key Takeaways
⇨ Process automation has evolved from a cost-reduction tool to a strategic enabler that enhances visibility and boosts employee productivity, allowing them to focus on higher-value tasks.
⇨ The importance of process automation in organizational strategies is increasing, with 54% of respondents in a recent survey considering it 'Extremely Important', up from 40% in 2023.
⇨ Finance-related processes, particularly 'Procure to Pay', are experiencing significant automation adoption, with rates rising from 40% in 2023 to 66% in 2024, indicating a focus on streamlining procurement through automation.
In recent years, process automation technologies have evolved from basic cost-reduction tools to strategic enablers that significantly enhance visibility and boost employee productivity. This transformation highlights a shift towards using automation to optimize operational workflows, improve data transparency, and empower employees to focus on higher-value tasks, rather than solely aiming for cost efficiency.
To track the evolving trends and gather in-depth community insights on this transformative technology, SAPinsider has been conducting comprehensive benchmark research reports since 2020. Continuing this initiative, SAPinsider conducted a survey of 118 community members between June and August 2024 to analyze the current landscape and forecast future advancements in process automation.
Process automation is gaining prominence in digital transformation roadmaps, reflecting its growing importance in organizational strategies. The percentage of respondents who consider process automation to be “Extremely Important” has surged from 40% in 2023 to 54% in 2024. Meanwhile, those who regard it as simply “Important” have decreased from 49% to 42% over the same period. This data shows a shift towards viewing process automation as a critical component rather than a supplementary tool, underscoring the need for robust strategies to effectively advance digital transformation initiatives.
Finance-related processes have been the primary focus of process automation initiatives, initially targeting the reduction of manual interventions and the optimization of workforce allocation. “Procure to Pay” demonstrates more advanced levels, indicating a significant push towards streamlining procurement processes through automation, with adoption rates rising sharply from 40% in 2023 to 66% in 2024. Components of procure-to-pay automation include automated purchase requisition, goods receipt and invoice processing, and automated supplier selection.
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