Turn paperwork into data – automatically

Converting paperwork into data is where automation comes into its own as a business solution. Scanning invoices leads to them immediately being routed to the correct destination, and also automatically tagged with useful metadata like purchase order IDs that enhance your search capabilities.

Improve analysis and insight from your existing data

Businesses run on data: sales, acquisitions, overheads, stock, payroll. The more you can do with that data, the better. Automated data entry and capture gives you the ability to draw more insights from your existing data pool. By compiling disparate sources of information into one integrated workflow solution, you create a single reliable destination that can be easily accessed, managed and analyzed from any location. This in turn empowers you to make smarter, better-informed decisions and eradicate inefficiencies.

Improve customer service and vendor/supplier satisfaction

The benefits of having optimized workflow automation extends way beyond the four walls of your business. This is the best possible way to ensure exceptionally smooth relationships with your clients, customers, vendors and suppliers. For example, invoice processing can be expedited – Global Banking and Finance estimate that AP automation can reduce the duration of the invoice processing cycle by a factor of between 2 to 5 times. This means invoices are paid on time and allows you to take advantage of early payment discounts. You’ll also avoid late payment penalties. Automating processes like contracts, supply chains and your accounts payable workflow doesn’t just improve your business’ bottom line. It enhances your reputation and builds trust, which in turn may open up future opportunities via word of mouth, or repeat business with an impressed client. 

Greater job satisfaction leads to more engaged employees

Workflow automation can also improve job satisfaction among employees – yourself included. New technologies bring greater speed and flexibility, as well as faster access to data. Reducing repetitive administrative tasks via workflow automation tools can make a big difference to employee morale. Freeing up time and resources allows staff to focus on more creative, productive projects. It also gives employees the opportunity to branch out into other areas of responsibility within your business, and boost their professional development – all of which can make a big difference to morale as well as your bottom line

Ease the process of regulatory/GDPR compliance

When it comes to meeting regulatory compliance such as GDPR, you don’t want to be cutting corners or making errors. IBM estimates that the average cost of a data breach has risen to almost $4m – and the USA has the highest cost in the world, at over $8m. Automation means you have total oversight of how you capture, manage and export your data, every step of the way. This means that you can incorporate any regulatory requirements or guidelines quickly and easily, and run your business with the confidence that your processes are compliant. It also greatly helps reduce human error in data entry. The last thing any business wants is to be hit with fines and penalties. Regulation can be a constantly shifting feature of running a business – automation helps you stay up to speed.