During a recession, many companies face the challenge of doing more with less. Costs need to be reduced, while efficiency and profitability within core operations must also increase. However, for CEOs and management teams, AI and intelligent automation offer unique opportunities to navigate through these tougher times.

Both Accelerating and Braking at the Same Time

With automation, companies can maximize both efficiency and cost savings in support functions, while also increasing revenue and efficiency within core operations. This is always urgent, but even more so in a recession than otherwise.

Automation – A Prerequisite for Competitiveness

Artificial intelligence and automation, for example with RPA, are much more than just technology; they are a business-critical factor in all companies to maintain competitiveness and prepare for future growth when the economy recovers.

Concrete Effects of Automation

Automation in businesses leads to increased productivity and profitability across many different corporate functions and industries.

For example:

• Saved costs averaging $46,000.
• About 30 percent fewer errors.
• 70 percent higher security.
• 34 percent improved customer service.
  64 percent of employees experience less stress.
• More time for strategy and innovation.
• Increased control and more qualitative and consistent data and also increased creativity.

Which tasks are most suitable to automate?

Automation can be used to both save costs and increase revenues. Particularly beneficial processes and tasks to automate are those that involve a lot of data, repetitive tasks, and clear rules.

To save costs, consider automating:

• Reporting and analysis.
• Invoice management and payments.
• Bookkeeping.
• Customer support.
• Recruitment and HR processes.
• Order management and inventory control.

To increase revenues, consider automating:

• Marketing activities.
• Lead generation.
• Sales forecasting.
• Customer feedback.
• Data processing and report generation.

The Most Common Methods of Automation

Choosing a method and tools for automation can be challenging.

The most common are:

In-house Expertise

Advantages: Full control over the development process, a deeper understanding of the business's specific processes and needs.

Disadvantages: Costly, long development time, focus may shift from core business, dependent on internal resources, high vulnerability due to personnel dependence.

No-Code/Low-Code Tools

Advantages: Potential cost savings, suitable for smaller businesses with simpler processes.

Disadvantages: Limited expertise can lead to missed opportunities, long development time, limited features in the platform.

Consulting Services

Advantages: Access to external expertise, professional preliminary study to identify automation potential.

Disadvantages: Unclear costs for preliminary study and additional external services, lack of overall responsibility and ongoing management.

Pre-built Solutions in Existing Systems

Advantages: Quick implementation, cost-effective, integrated into existing systems.

Disadvantages: Limited customization to company-specific needs, dependency on the system, challenges with technical complexity.

AI as a Service (AIaaS)

Advantages: Rapid implementation of updated AI technology, scalable solution, known costs from the start, reduced need for internal AI infrastructure.

Disadvantages: Dependence on the provider for access and maintenance, which requires careful choice of AI partner.

Zimply Offers AI as a Service with AI Assistant

The analysis above particularly confirms the advantages of AIaaS - AI as a Service - especially through AI assistants.

Zimply offers:

• Fixed monthly price without index increases during the contract period.
• Operation, management, and support as well as preliminary studies are included in the service.
• No startup fees, license costs, or consulting fees.
• Scalable and secure solution without lock-in to a specific system.
• Access to ongoing change management, updates, and customizations.
• No internal expertise required.
• No system integrations necessary.
• Three-month trial period.

Contact Zimply to learn more about how AIaaS with an AI assistant can free up time in your business and how you can lead your company through the recession with automation. How you can simply do more with less.

Sources

• McKinsey.
• Zapier.
• Paperform.
• Formstack.
• Windward studios.