Laiye previews global research findings revealing the critical benefits of AI at Europe’s top Shared Services event
Laiye, a global leader of Intelligent Automation announced initial data from a global study of 1,300 business decision-makers as part of its ‘Make Work Better’ global tour. The findings are timely for the attendees of the sixteenth annual Shared Services and Outsourcing Week gathering in London’s Hurlingham Club this week.
Shared Services and Outsourcers are under increasing pressure to provide agile solutions, which allow their clients to cope with digitally-demanding customers, distributed and flexible workforces and disrupted supply chains.
Manifestations of this impact on the shared services operating model include high staff turnover and burnout, employee attitudes which negatively affect productivity, and a preference among employees for gig-based employment.
Ronen Lamdan, CEO International at Laiye said: “The appetite for enterprises to develop and make use of Shared Services is greater than ever. However, recent global disruptions mean those Shared Services face a newer and more complex challenge. Keeping Shared Services optimized and turning them into a value creator means motivating and equipping talented teams with the latest technologies. Ultimately, to do this cost-effectively means creating a blended digital workforce where the best of human ingenuity meets the most capable tech.”
The global top worker-related issues and impacts of the Great Resignation and Quiet Quitting included:
1-Reduced overall Business Productivity (62%)
2-Slower Company Growth (55%)
3-Poorer employee morale (46%)
1-Slower Company Growth (53%)
2-Reduced Business Productivity in specific roles (46%)
3-Poorer employee morale (37%)
The global research shows that adoption of new work execution models, supported by AI and automation, is increasingly attractive and a major area of focus. Respondents are now more likely to augment human work by giving ‘digital assistants’ to employees, as cited by some 45% of respondents, and 30% have plans to deploy a digital workforce to boost innovation.
For shared services and outsourcing companies offering IT services, supplier management was cited as the most time-intensive process, followed by Know Your Customer (KYC) compliance and general administration tasks or ‘paperwork’.
For those looking at future Shared Services revenue streams, the top five workforce productivity capabilities and technologies seeing investment from IT decision-makers are: Intelligent Automation Dashboard and Benchmarking, cited by 60%, Intelligent document processing (IDP), 56%, Integration Platform, 51%, User Interface (UI) Automation, User Interface (UI) Automation, 48%, and Machine Learning Algorithms, 42%. Industry verticals most aggressively looking at these investments were the Utilities, including Power, Travel & Logistics, and Retail sectors.