Technology continues to evolve at a rapid pace, capturing the attention of various industries in its wake. With the drive to make operations more efficient, reduce costs, and stay ahead of the competition, companies are embracing the use of automated systems and processes with open arms.
The growth of automation didn’t happen overnight. Transformative trends have made automation less of an option and more of a need in today’s landscape.
The better software vendors can understand the reasons and context of automation’s growth, the better they can understand the need to invest in modern onboarding to support what’s coming down the pipeline: higher client volumes with bigger demands and higher expectations. After all, no software vendor wants to be the one competitor left off the bus, with an ocean of manual client onboarding tasks to tackle and overworked onboarding reps that have their own way of doing things.
Here are powerful industry trends that underpin the shift toward a more automated world — and, subsequently, the need for a modern onboarding process to support the burgeoning SaaS market.
91% of employees reported a better work-life balance since using automation tools
Employees are happier when they have the time to focus on more meaningful and value-added work. Automation tools support this need by freeing up time that would otherwise be spent on mundane manual tasks — and relieve them of that added stress. At the same time, these tools give employees the flexibility to access data and perform tasks from any place at any time, which makes it easier for employees to balance their work commitments with personal commitments.
78% of businesses plan to invest in or scale investments in automation to combat the labor shortage
The dynamics of the current job market are less than desirable for companies trying to recruit new employees. A prevailing labor shortage has made it difficult for businesses to find experienced, knowledgeable workers to fill job vacancies. Investing in automation technologies has enabled companies to augment their workforce capabilities. In spite of a shrinking workforce, automation lets them meet customer demands and drive growth.
70% of compliance teams are considering increasing automation due to regulatory changes
Regulatory frameworks and requirements related to payroll, benefits, taxes, and other company dynamics are constantly changing. Keeping up with these evolving standards to prevent penalties and ensure stakeholder trust is no easy feat for compliance teams. Automation helps take some pressure off compliance teams by streamlining compliance processes as they relate to data collection, report generation, and monitoring violations.
48% of organizations are installing automation solutions to automate manual tasks
Manual tasks have long been a source of frustration for employees and companies alike, from their repetitive and time-consuming nature to the fact that they are more prone to error. In an age of digital transformation, there’s a growing recognition that these dynamics need to change. Supplementing reliance on manual labor with automated solutions allows companies to perform tasks in a fraction of time, with higher accuracy.
Now Is the Time to Invest in a Modern Onboarding Process
In 2023, it’s estimated that 50% of companies will invest in automation. As software vendors deal with an unprecedented surge in new business, they’re having to onboard more clients than ever before. How they handle the onboard process will undoubtedly shape their success.
That’s where Setuply comes in. Our cutting-edge client onboarding automation platform supports software vendors on this path to modern onboarding. Equipped with tools that automate manual tasks and client communications, our solution transforms client onboarding into a repetitive, scalable process that turns early adopters into enthusiastic brand champions.
Are you ready to embark on the path to modern onboarding? Request a Setuply demo!