Developing a Framework for Cost Reduction Strategies through Process Automation in SMEs: A United States Perspective

Abstract

In the United States, where small and medium-sized enterprises (SMEs) swim in a competitive environment, an arduous task is that of resource optimization without sacrificing one's competitiveness. The automation process of activities has been a very promising opportunity to reduce costs and improve productivity. On the contrary, smaller businesses typically do not spend enough time creating clear roadmaps for how to appropriately take advantage of automation. The goal is to efficiently formulate a cost-reduction framework using process automation in small to medium-sized enterprises in America. The creation of the framework is firmly based on the use of the relevant literature and empirical data to pinpoint the most important themes, such as process identification, technology selection, implementation strategies, and performance measurement. Therefore, through weaving the key themes into a workable model, this paper acts as a pragmatic manual for SMEs who aspire to reap cost reduction and competitiveness gains through the implementation of process automation.