We all know that time is money, and we are always looking for ways to save time so that we can also cut back on expenses. With the rise of automation software, it is more possible than ever to reduce time spent on unnecessary or repetitive tasks. Automation not only makes your work more efficient, but it also saves money by cutting back on the time your staff spends doing certain actions. In fact, it can actually save you millions.
The cost of inefficiency vs the savings with automation software
Inefficient workforces cost the economy unbelievable amounts of money. Intrinsically, both employees and organizations recognize that automation can help to reduce those costs. According to a report that dates back to 2020, 53% of employees believe that they could save up to two work hours per day (240 hours per year) through automation. While 78% of business leaders are convinced that automation can free up to three work hours a day (360 hours annually). Moreover, if you translate these numbers into monetary terms, you soon realize just how significant they are.
An article from Forbes makes it clear how these hourly savings can amount to sizeable cost reductions. Consider that your average employee in a Fortune 500 company might earn $40 per hour. Their leaders earn $77 per hour. Now, you can see how these wasted hours soon add up. If there are 500 employees at such a company, with three business leaders, automation could save the organization $9,240 annually on behalf of each employee. And can save $27,720 where each of the business leaders is concerned. Now, if you add all of this up and you get a total of $4,700,000 per year. There are a few better motivations for implementing automation in your organization as soon as possible.
Consec Solutions is a provider of information technology consulting and project management services. We can help your organization implement customized, effective automation software to help you ease and streamline your operations, and enjoy the savings they provide. Contact us for more information on these and other solutions.
Leave a Reply