With the American labor market continuing to evolve, process automation offers companies a way to do more with less.
‘Work’ redefined
According to Jim Wanner, CEO and founding partner of KeyMark Inc. in Liberty, the technology and processes behind automation have advanced significantly since he founded the company in 1996.
The company specializes in automation across a range of industries including financial services, health care and manufacturing. Wanner explains that as more companies implement automation both to make employees more efficient and to adapt to a shrinking labor pool, the nature of the work those employees do is shifting.
“It’s going to come down to who’s trained and who’s not trained,” Wanner says.
He estimates these changes are already impacting about 30-35 million people whose jobs are being radically redefined or eliminated and says much of this shift is being driven by technologies like machine learning and artificial intelligence.
Many companies see traditionally repetitive tasks and processes as ripe for automation technologies, says Andy Kurtz, CEO and founder of Kopis in Greenville. The company offers software and technology solutions to businesses and government agencies to streamline processes like accounts payable, inventory tracking and workflow management.
“Accounts payable — AP — automation has become a really big topic,” Kurtz says.
Tracking invoices and matching them to purchase orders is a natural area where technology can help companies and their employees be more efficient, says Kurtz. Such “low-hanging fruit,” where the process is relatively straightforward and repetitive, is a logical place to start for a company looking to automate.
“You have to be able to do it efficiently,” Kurtz says.
Wanner says automation related to efficiency is easing the burden on employees and thus reducing the risk of burnout and costly mistakes.
He adds that in a tight labor market where employee retention is a high priority for companies, using technology to handle monotonous tasks can make a real difference in helping employees work smarter, not harder.
Shrinking labor pool
Kurtz says as the ’20s roll on, companies will face one inescapable fact: Fewer workers to fill more and more jobs.
It’s a reality brought into greater focus by the Great Resignation and is forcing companies across a range of sectors to reassess how they interact with employees.
As companies shifted to remote work settings, the need to shift data to the cloud came to the forefront, says Kurtz, creating opportunities to automate internal processes to support remote work.
Both Kurtz and Wanner say this is why education, particularly technical education, will grow in importance. As technology continues to improve and automation becomes more widespread, having employees capable of using that technology will be vital.
“There’s no doubt education and an educated workforce is key,” Kurtz says. “I think automation will certainly replace certain functions and rolls, but it will create new ones.”
Wanner says how American companies — and colleges — adapt will determine the nation’s standing in the global economy.
“I believe if the United States doesn’t do it, somebody else will.”
