Serving as Managing Director of Unistanz Software Private Limited for 18 years now, Mr. Jayendra Desai specializes in providing software products and IT Services across numerous domains and technology platforms. Mr. Desai has also been a crucial part of launching QuickReco Tool, an efficient and user-friendly Tool that can automate manual Excel Operations by a 100%. Now in his new role as an advisory, a new period of deep learning has started as stated by Mr. Desai. In his previous experience, he has worked with eminent organizations like Mutual Industries Limited, Reliance Industries Limited and Lauren Information Technologies Pvt Ltd.
Digital workforce and the emerging market trend
Digital workforce, the emerging concept, primarily refers to the virtual workforce or the technological advancements that manage to reduce and replace manual work. But, it is more than just a tool to increase business growth. It also helps to eliminate the machine-like working tendency of humans.
It has been indicated in studies that the digital workforce has boosted employee morale at workplaces. Humans are not usually comfortable performing monotonous chores that need minimal cognitive talents. Therefore, when humans assign such tasks to their digital counterparts or this so-called virtual workforce, they free up their time to focus on more critical and cognitive activities such as dealing with client needs, negotiating, making connections with coworkers, and so on.
The boosted employee morale will ultimately anyway lead to better operations within a firm. So, it’s best to let bots do what bots must while allowing the businesses to reap human potential for what humans can. The Global Digital Process Automation Market is predicted to increase by $8.08 billion between 2022 and 2026, at a CAGR of 15.46 percent. Bot-driven digital transformation has been adopted by organisations of all sizes across divisions to reduce operational expenses and boost growth.
Even the government of the Philippines introduced a digital workforce bill. The governments of countries are taking such measures to keep up with digital and 21st-century skills. And, with the participation of governments in it, the mix of the human digital workforce is likely to become more significant in the future.
Why enterprises are eyeing the digital workforce
Enterprises are eyeing the digital workforce to keep up with the market trends because of the wide variety of benefits that can be accessed with the use of it. Intelligent automation begins with digital workers. By incorporating transactional, cognitive, and analytical skills in specific software robots (digital workforce), workplace tasks can be executed better than or equivalent to humans. It also helps in establishing effective communication between software and human personnel. The digital workforce allows to connect between various tasks, automate background processes, automate finance processes and automate various backend processes.
It can help the businesses keep up with trends in following ways-
Efficiency through minimising human errors and timely completion of work
The digital workforce enhances the business processes by carrying out multiple tasks in sequential order. Avoiding human errors through its use minimises the risk and makes it very hard to deviate from the predefined best course of action. Timely completion of work is made possible through bots that work indefinitely to complete a given task without taking breaks. There are functions like account payable and IT operations that can be completely overtaken by the digital workforce. The efficiency thus achieved allows to lower the operating cost and reap ROI within a short period.
Data tracking for better visibility
Employing the virtual workforce helps in better data tracking which improves the visibility of the business. Data analysis gives further insights into the strategic and risk assessment of a company, helping the company to stay ahead in the market. Proactive measures can be undertaken with its use to allow for timely fixation of issues.
Growth through employee motivation
The optimization of repetitive tasks and sometimes the entire operation, allows the human workers to focus on high-value and cognitive work that requires innovation. The boosted employee motivation thus allows for more precise and faster customer interaction.
It also allows for procuring the required numbers of employees at an appropriate time which allows for flexibility in business scaling.
Cross functional cooperation
It allows for the integration of unified digital technologies across a business to automate tasks associated with a wide range of business operations that frequently need some amount of human participation. Integrated automated processes, in turn, fill gaps and bridge the divide to enhance communication across various teams of the company, thus promoting cross-functional cooperation.
The digital workforce has evolved from robotic process automation to cognitive computing to artificial intelligence and machine learning to digital process automation. The Digital Process Automation technology employs software to execute processes and automate operations to finish and optimise workflows. Areas such as sales, marketing, management, information technology, and manufacturing can be significantly improved with the use of this technology. Automation, alerts, and application development tools are a few features included in this technology.
In the future workplace, the digital workforce will rise substantially. Use of automated solutions like QuickReco Tool can be used to automate reconciliation of accounts, calculations using complex algorithms and reports & dashboard for tracking performance analysis, trends & exceptions. Automation will be crucial in enhancing corporate processes, decision-making, customer service, and reducing security concerns. This will allow organisations to function seamlessly around the clock.
The future workforce will be a cohesive fusion of real and virtual workforce, with one augmenting the strengths and skills of the other. And, this will allow human employees to prioritise innovation, value addition, and learning new skills. Humans and machines are incapable of navigating future enterprises single-handedly. A blend of both will be needed in the coming time and the most successful businesses will be those who will successfully integrate both.