Automated solutions deliver a range of efficiencies to businesses. Whether your business is looking to make financial reporting faster, eliminate tedious procurement processes, or make payments faster and easier, technology that automates business workflows is a must-have for every business. In this post, you will learn how to unlock business efficiencies with automation.
Automation should supercharge your team, not replace it
Replacing people is often mistakenly seen as the sole purpose for implementing automation technologies. However, leading companies understand that delivering a personal customer experience driven by the intelligence and collaboration of their people in conjunction with technology is key. It’s estimated that automation, artificial intelligence (AI), and other cognitive technologies will benefit 200 million knowledge works and deliver 600 to 800 per cent returns on certain tasks. Further with the productivity boost that automation brings through eliminating repetitive and time-consuming manual tasks, people will have more time for strategic and engaging work. Over time, this can help companies retain top talent and drive stronger performance.
What should a business automate for more efficiency?
With the wide selection of digital solutions available today, your business can automate almost any manual system or process. Ideally, when you’re identifying where to start, you should consider not only what will deliver the most efficiencies but how scalable the solution is across the business.
Some key systems and processes your business could automate to drive productivity and strong employee engagement, while delivering better customer experiences include:
With an automated warehouse management system, you may see other benefits across your business, such as:
- Real-time stock updates on your eCommerce channels
- Insightful warehouse data to identify trends and forecast stock needs
- Seamless integration between your warehouse and business locations through a smart point of sale system
- Return customers as they can trust that when an item is in stock, it’s actually available
With an automated service management system, you may see other benefits across your business, such as:
- Stronger cash flow as you can take payment as soon as a job is complete
- Happier customers through improved communication and a frictionless booking-to-payment process
- Time-saving efficiencies back at the ‘office’ with reduced errors
With an automated purchasing system, you may see other benefits across your business, such as:
- Faster and more accurate ordering, which means less capital locked up in stock and stronger cash flow
- Efficiencies through accessing multiple suppliers in one digital location
- Integration with other automated systems to make taking payments and keeping your business stocked simple and easy
With an accounts receivable management system, you may see other benefits across your business, such as:
- Stronger cash flow
- Reduced late payments by implementing the same technology for future transactions
- Faster and more accurate reporting and automated account reconciliation for suppliers and customers
With an accounts payable management system, you may see other benefits across your business, such as:
- Better cash flow visibility, so you always know when outflows will occur
- Time savings through being able to pay multiple suppliers in one place
- Stronger cash flow, so you can invest in other areas of business growth
Boost efficiencies and automate your business with Spenda
Spenda helps businesses to adapt, innovate and evolve so they can work smarter, not harder. Whether you’re looking to boost productivity, streamline your processes from order to delivery, or get paid faster, we’ll work with you to build a tech stack that will help you achieve your unique goals.
Keen to see Spenda in action? Book a free demo with one of our payment experts today.