Many leaders at financial companies, including investment managers and fund administrators, are struggling to find qualified staff for financial operations. This is partially because, in today’s market, administrative roles are no longer as appealing as they used to be, and employees frequently switch jobs in pursuit of better salaries.
As a result, many companies are considering relocating work to emerging markets like India. However, there is an alternative that can help improve your company: automation.
How Automation Can Improve Your Operations
When speaking to clients, we often encounter common issues faced by SMEs in the financial sector. This includes that management frequently expresses concerns about finding and retaining qualified staff for financial operations, while employees voice frustration over repetitive tasks and inadequate IT infrastructure.
Our experience with AUTOMAN has demonstrated that automation can reduce repetitive manual work by up to 93%. This reduction brings numerous benefits to companies, which include:
1 - Increased Productivity Without Expanding Staff
Imagine saving 80% of employee time through automation. This enables the same staff member to complete five times more work without the need to hire additional employees, or indeed burdening them with more work. In turn, this allows your business to grow more efficiently.
2 - Boosted Profit Margins
When your current clients are paying a specific rate, improving internal efficiency can significantly lower operational costs, leading to increased profits. Furthermore, many companies hesitate to onboard high-volume businesses due to the extensive manual work involved. Through automation, however, you can confidently accept clients and projects that once seemed impossible to manage.
3 - Better-Mitigated Employee Turnover Impact
Some employees become essential to SMEs due to their experience and ability to quickly perform specific tasks. When these key staff members leave, the transition can be disruptive, making it challenging to onboard new hires. By automating your work processes and establishing well-structured procedures, you add an extra layer of safety to your procedures and reduce the impact of employee turnover on both your business and your team.
Why Automation Is Your Best HR Solution
Reevaluating the staffing challenge from a different perspective can uncover new possibilities for your company. So, instead of solely focusing on the search for qualified staff for financial operations, why not invest in automation software that represents a smart long-term strategy?
Contact us today to discover how our operations automation solutions can enhance your productivity and help reduce costs. Together, we can create a more efficient and profitable financial operation!