Technology can be a great enabler for processes. For example, Robotic Process Automation is very popular right now in financial functions. As mentioned in a previous FAQ, we utilize a team-based process approach to optimize the process. Once the process is optimized, technology can be applied to automate, create capacity, and free up critical human resources to focus on other important value-added tasks.
All companies need to balance the utilization of people, processes, and technology. Hire the right people, support them with optimized processes, and enable the processes with the technology. Unfortunately, a lot of companies get this upside down—they attempt to optimize performance by implementing technology on top of bad processes. This just doesn’t work.