Curious to know what kind of impact IT process automation is having on the IT sector as a whole? A recent report specifically studied 5 of the biggest IT companies in the world (TCS, Infosys, Wipro, HCL and Cognizant) to determine precisely how automation is being leveraged to improve productivity, cut costs and subsequently increase revenue year over year. Here’s what the report found.
Hiring Rates Fell
One of the most noteworthy outcomes uncovered by the report was the significant drop in new employee acquisition. This drop in net additions was led by Cognizant Technologies, who saw an incredible decrease in new employee hires of 74.6% between 2014 and 2015. HCL was close behind with a drop by 71% year over year. Collectively, the companies added 24% fewer employees in 2015 thanks to their more widespread adoption of IT process automation.
Efficiency Levels Rose
Despite the dwindling number of new hires, the five IT companies surveyed demonstrated a marked increase in overall operational efficiency. How can that be when there were fewer employees to complete the work? Simple. Manual tasks and even complex workflows are being shifted from human workers to IT process automation tools, eliminating the need for increased personnel numbers. Those who remain are able to focus their efforts on more business-critical tasks, such as improving service levels and achieving greater growth numbers.
Thanks to IT process automation, the subsequent boost in efficiency and productivity levels, and the need for fewer human workers, the five organizations listed in the report realized a combined increase in revenue of 9.8%. Essentially, automation has provided the opportunity to streamline operations and maximize output without having to increase the workforce. As a result, each company saw a nice boost to their bottom line.
What do all these highly respected IT companies have in common? More importantly, how have they been able to achieve such significant improvements in every important area and remain as competitive as ever, regardless of the economic state? Simple. Each one of them has made automation a priority. As a result, they will continue to achieve increasing success over time. In fact, as the report indicates, the benefits of IT process automation are projected to continue in this direction for several years to come.