How much revenue is your company missing due to unavoidable human failure rates?

How much is 10% of your company’s revenue?

Human error is natural and sometimes even necessary to help us learn avoid making the same mistakes again. However in business, human errors can lead into high failure rates and poor working performance, which may have severe effects on company revenues and profits.

We typically discover around 10% of missing revenue for our customers, when digitalizing billing data accumulation and billing processes. The reason why there is about 10% revenue missing is not because anyone is intending to leave the billing out or doing their job badly even, but it can simply be a sign of a need to transform manual complexity into digitalized flexibility.

The human error aspect

The typical failure rates in businesses using common work practices range from 10 to 30 errors per hundred opportunities. The best performance possible in well managed workplaces using normal quality management methods are failure rates of 5 to 10 in every hundred opportunities. Even highly experienced people may suffer excessive rates of failure if you expect them to work simply based on their experience and knowledge, without pursuing to standardize the processes and methods to use.

Would you prefer 12 errors or 5000 errors?

There has been multiple surveys done from the early 1980’s to this day, which prove that by using various quality management techniques, designed work processes and standardized systems can lead into higher quality of work and steadier performance rate. A recent study conducted in Germany also shows how the digital automation made only 12 errors in 1 million opportunities, while in the same time humans make up to 5,000 errors.

Time to take action

Inevitable truth is that human error will never be a zero, but at least there are ways to reduce the rate of human errors by simple standardization activities and by introducing processes, which are digitalized, automated and orchestrated.

Is your company already using automated processes to reduce errors? If not, now is the time to take action. Visit our website to get more information about our solutions for service automation.