Automation opportunities: What business owners need to consider
Many business owners now recognize just how important it is to remain nimble and able to adjust their operations at any time.
Recent events have made clear that it’s critical to be able to quickly adapt your business in response to changing business conditions. But you may not have considered that the ‘rapid response’ strategies many businesses leveraged during the pandemic are becoming standard practice.
An essential tool
A study conducted by Zapier uncovered that 63% of surveyed small and medium-sized business owners credit automation with allowing their company to quickly pivot in response to the pandemic§. In addition, 88% of small and medium-sized businesses surveyed say automation allows them to compete with larger companies§.
Beyond the obvious benefits to the company, workers are also experiencing the benefits of automation, with nearly 70% of small and medium-sized business employees reporting that the use of automation software has helped them be more productive§.
66% of small and medium-sized businesses surveyed say automation is now essential for running their business§.
Far-reaching advantages
Businesses have turned to automation technologies to increase their production, enhance efficiency, reduce workplace injuries, address workforce shortages, and improve accuracy by reducing human error. Automation and artificial intelligence technologies today are being used nearly everywhere from warehouses to grocery stores, call centers, and manufacturing plants†.
70% of surveyed businesses are increasing their commitment to automate at least parts of what they do‡.
Not as simple as it sounds
Deploying automation is much more than simply attempting to automate what is already being done. It’s about rethinking how work gets done and re-engineering processes and procedures to integrate automation into the company’s overall operation. A key challenge is identifying upfront those processes that will yield the greatest returns.
Less than 5% of all occupations can be entirely automated, but about 60% of all occupations have at least 30% of related activities that could be automated¶.
Looking out for you and your business
Huntington can help you address many facets of your business by bringing forward key insights, new ideas and thoughtful solutions. Connect with the business banking team at Huntington to discover the many ways we can help you grow and strengthen your business.
Automation Opportunities Fact Sheet ›
† Lund, Susan, Anu Madgavkar, James Manyika, Kweilin Ellingrud, Mary Meaney, and Robinson Olivia.
2021. “The Future of Work After COVID-19.” McKinsey & Company. February 18. Accessed October
2021.
‡ Huber, Celia, and Kevin Sneader. 2021. “The eight trends that will define 2021 - and beyond.”
McKinsey & Company. June 21. Accessed August 2021.
§ Zapier. 2021. Zapier Report: The 2021 State of Business Automation. April 20. Accessed October
27, 2021.
¶ A Future That Works. McKinsey and Company, McKinsey Global Institute. Accessed March 31,
2022.
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