12 Sep Ways In Which You Can Benefit From Business Process Automation
Running a business is challenging even for seasoned business people because they constantly need to balance aspects such as time, cost, and energy. Many tasks become repetitive and drab and wring the energy from your workforce. While managing time-consuming tasks, you are left with little energy to look at more important aspects of your business.
You can get rid of these different inefficiencies if you adopt Business Process Automation (BPA) in your organisation. With BPA, you eliminate manual, time-consuming, and costly tasks and replace them with faster working, automated processes. It also helps you reduce the redundancy of various tasks and lower operating costs in your business. There are also some indirect benefits, such as improving customer experience.
You gain a competitive advantage, can resolve billing and payment issues, reduce order errors, etc. BPA platforms make it possible to handle and automate different tasks at the same time. It helps you derive maximum value from your resources and workforce by streamlining different processes and making them transparent, and error-proof. Here are processes you should consider automating in your business.
Every business, small or big has a payroll system. In case of manual systems, payroll needs to be looked into every week or fortnight as per the frequency. The scope for human errors is ever-present. When you replace this manual process with an automated system, you reap benefits such as:
- Faster handling of repetitive tasks
- Elimination of human errors and making the system error-proof
- Improvement in workforce productivity, by freeing up their time to channel towards more productive work
- Saving time and money
Payroll software packages have useful features, such as payment scheduling and reporting. They are an excellent way to automate payroll functions cost-effectively. You can also outsource the payroll function to an accountant.
Automated Time Tracking Systems
For a business of any size, it is essential to keep track of how the workforce utilises its time. When you automate payroll processing, supplement it with automated time tracking to increase the efficiency of your workforce.
With automated time tracking, you get payroll tools that incorporate employee work time and time-sheets that provide data on workforce efficiency. If the package has the functionality to integrate it with the payroll systems, it helps ensure a seamless process. You can monitor aspects like employee cost, work during the day, time theft, etc.
Back office operations like bookkeeping are critical in any business. The more accurate and up-to-date your data, the better it is for your business. Automating bookkeeping helps minimise accounting errors. It gives you better and quicker access to reporting and data, and you can use the saved time for improved productivity. There are several automated bookkeeping systems and software, such as Xero that provide seamless operating solutions for your business.
Efficient invoicing can save a lot of money for businesses. Some studies estimate that the losses on account of inefficient invoicing can touch $ 12000 per month for small and medium-sized enterprises. Automated invoice processing systems can help in various ways, such as:
- Automating invoicing reduces double invoicing as well as processing costs by about 30 to 50 percent.
- Accounts payable is an accounting area highly prone to manual errors and higher processing costs per invoice. The gains from automating this function can prove significant for a business.
- Automated systems have the inbuilt flexibility to extract data from modules like received invoices. They can match it with purchase orders and receipts to detect errors or mismatches. The system can include functions like initiating payments and reporting.
Consumer communication plays a pivotal role in marketing strategies. In the world of the Internet of things, email marketing scores over other digital marketing channels. Businesses using emails as a marketing tool can benefit immensely by automating it in various ways.
- Automating email marketing is effective for one-to-one communication with consumers both through segmentation and targeted campaigning.
- For example, software like MailChimp enables targeted emails that provide result-oriented leads for sales and adding new consumers. Email blasts may fall short in serving this purpose.
Social Media Posts
There is no other medium that matches the reach and instant messaging feature of social media, making it a favourite marketing tool. But engaging with social media means a lot of things like writing captions, finding and sorting content, entering hashtags, etc. You can handle all these tasks easily by installing a social media programme with benefits such as:
- Timing the schedules for various posts according to your marketing plan in one go and for the time required.
- Study the results of your posts through previews
- Add new content to improve on your chosen theme.
For effective and sustainable cost reductions & efficiencies that will increase your bottom line, contact the experts at Benchmark Cost Solutions at this number – 1300 170 585. If you prefer, you can also request a call back or write to us at this email address.
Thanks for reading,
Benchmark Cost Solutions Team
1300 170 585