5 Business Processes You Should Automate with Software

5 Business Processes You Should Automate with Software

Automation is one of the more exciting results of technological advancements available to businesses in 2020. The massive improvements in reducing mundane and monotonous work tasks will surely lead to an increase in key employee retention. Simultaneously it will also allow companies to be efficient with their hiring process while enabling their new hires to deliver the most value possible.

It’s an exciting time to scale small and medium-sized businesses with the explosion of options for Process Automation. Easy to use templates available from new software tools simplify tasks in your reporting and sales functions, while improving the quality of data necessary for you to understand the strengths and weaknesses in your organization. Repetitive tasks with common mistakes are being automated away, leaving your employees to focus on critical and strategic planning and customer service.

Enterprise systems bring their financial, sales, and talent acquisition data together to power long-term strategic decisions. From purchase and supplier data to compensation and business forecasting reporting, automation is a competitive advantage for these size companies.

Small and mid-sized companies can now gain that same advantage with custom solutions that cut expenses, improve profit margins, and provide accurate data for growth and expansion plans. The larger your operation, the more outsized the potential gain. One of the primary benefits of this type of automated reporting is that many insights that are clearly visible, but unseen to the naked eye can become easily organized. Think of the human rounding errors, constant over-ordering, and even long reporting collection time.

With an increase in application of Automation tools, your business will be running like a well-oiled machine.

Here are the five most common business processes you should look at automating

Financial Operations

Financial automation can save your department Banking and accounting services can be built to monitor cash flow, collect purchase data, and project PNLs across multiple financial institutions. Owners can link their business bank accounts and accounting software to generate reports instead of simply printing them out for their CPA at tax time, while a larger organization can predict when loans need to be prepared or paid off based on quarterly business receipts. If cash flow is king, financial automation is the power behind the throne. Time costs money in the industry and decreasing the time it takes for your money to move within your organization is a massive cost savings over the course of the year.

Job Applicants

New screening software available from HR Tech companies actively encourages and informs job seekers to apply while applying filters to the kinds of the employees you want to interview first. Human Resources data collection also has legal implications as you grow - automation of the hiring process gathers data you can use for hiring while protecting you from employment mistakes overlooked with manual resume screening. You should be evaluating the best options and working with your companies HR team to figure out what improvements your own team can make from utilizing cutting edge software automation.

Surveys for Customer Satisfaction

Survey form creation and automatic survey replies for customers are easy to implement. Using Google Forms, SurveyMonkey, or a custom solution with your sales and marketing database, your ability to monitor customer satisfaction as a normal business process identifies successes as they occur and spots problems before they multiply. Surveys are an excellent first line of defense in gathering performance data on your company’s interactions with your customers.

Often before losing a customer, the customer will make an attempt to reach out and voice their complaints. If that is lost in an email inbox or left to a phone call, it is possible that your management team can’t get an accurate picture of the customer service landscape. Surveys allow for accurate reporting and instant aggregation of how your company’s performance is going. What is measured can be improved, and with a measured and automated customer service process, you can bet you will see an uptick in retention.

Custom Invoicing

Custom invoicing streamline the process Invoicing data is a very important data collection activity that is often forgotten in the excitement of a sale. Manual invoices often lack legal language needed for collection, fail to list terms, and often don’t even go to the right people. Custom invoicing software makes it easy for your salespeople and Accounts Payable department to work from the same document - and get paid. Custom invoicing also makes tax preparation and commission payout simpler, all while feeding data to your accounting software.

Business Data Analytics

Business Data Analytics Queries for data like past invoices, pricing, promotions, or sales sheets are common processes that your employees often need to effectively communicate. Centralizing the most common searches not only saves labor, it allows your employees to standardize the way they run your business.

Companies often use different databases and different methods for saving data that is department or employee-specific. If automated, owners and managers create a simple set of templates that improves employee communication while enabling reporting functions that can provide monthly, daily, or even hourly updates. Customized cloud solutions also allow the integration of reporting across multiple locations, leveling the performance of disparate offices with and allowing for better forecasting of sales and inventory

Where to Start?

Companies interested in RPA software should first begin looking for manually intensive and error-prone data collection. Simple and repetitive tasks that require low customer input are good areas to start, and give the company the time, costs savings, and ultimately the confidence to automate processes with a larger ROI. From there, working with experts or consultants to outline the best available solutions, whether out of the box or custom is part of figuring out the implementation steps.

If you want to talk to a reputable firm that has a history of helping businesses automate their processes, consider the software development team at Code Authority. We will work with you to establish best practices for your business’s unique needs.