The automation of processes allows your most valuable resource – your employees – to dedicate more time to improving customer service and other long-term business objectives.
Furthermore, it can alleviate the skills deficit and businesses that embrace it will be better placed to compete.
Looking forward
The recovery from the Covid pandemic and Brexit have placed new pressure on businesses in various sectors. This has been compounded by soaring inflation and the potential for the economy to fall into a recession, making it essential for businesses to think strategically using technology to keep a competitive edge.
Consequently, businesses that do not have a technology advocate within their teams will find it difficult to manage costs and compete using technology.
Financial advisers are often content relying on more traditional methods of working, which have the potential to become outdated as operating models evolve.
Practitioners should follow the trend of automation as a tool to reduce costs and improve efficiency, as advice businesses that are reluctant to do so face the risk of being left behind their competitors.
Tarek Meliti is chief executive of TDM Group
