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While roboticprocessautomation (RPA) has made significant strides by streamlining repetitive tasks, it’s safe to say it’s not perfect and often falls short when dealing with more complex and dynamic processes. And the technology will only further improve cost efficiency as advancements continue to be made.
For example, Mark is the CFO of Woodworks; a multi-million dollar business that manufactures wood flooring. What those numbers don’t reflect is that pricing for the wood planks necessary for manufacturing their products has gone up in price in the last month. Institute some real-time spending insights.
Another survey , CGS’ 2020 Business Process Outsourcing Trends (which covers IT/software projects, including accounting or manufacturing and beyond), found that 45% of executive respondents cited improving the customer experience as their primary motivation for outsourcing, while 36% said it was cost-cutting.
From healthcare and finance to retail and manufacturing, AI’s influence is far-reaching, offering unprecedented efficiencies, insights, and capabilities. This technological leap has ignited a global conversation about the future of work, particularly in sectors heavily reliant on human labor, like the outsourcing industry.
A part of the cost of doing business, they can be substantial for lengthy negotiations (which also require consultation with legal team members) so it’s important to balance the benefits gained from securing optimal payment terms and pricing against the laborcosts of obtaining them.
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