Digital and analytics in finance, HR, and IT
Business support functions such as finance, HR, and IT are the keys to ensuring effective business operation. The next wave of digitization will enable companies to use analytics such as machine learning algorithms and automation like robotic process automation (RPA) to raise efficiency and process quality. Companies that implement digital use cases generally enjoy greater accuracy and consistency, increased scalability and speed, and good results traceability. At the same time, top-quartile leaders in these areas operate at nearly half the cost of their bottom-quartile counterparts in the same sector.
The potential for automation is particularly high. For example, companies can fully automate about 20% of the tasks in a typical finance unit’s record-to-report process and significantly automate another 50% (with technology undertaking most of the work). Similarly, HR departments can fully automated about 30% of all tasks in the hire-to-retire process, and significantly automate another 30%, while IT service desk automation rates can reach 90%.
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top-quartile companies operate at half the cost of their bottom-quartile counterparts
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