Cost cutting with process automation is a common topic, but it can be difficult to identify whether or not a specific process will benefit from automation. The concepts discussed in this article can be applied to any organization to help you determine where your process automation needs are.
Why is process automation so critical when cost cutting at your organization? There are several reasons, and we have outlined 3 very important ones below:
Reduces repetitive tasks – Do you have a large number of repetitive tasks? For instance, are you ever finding yourself taking a paper form and manually entering the data into a computer? This repetitive task can easily be automated by replacing the paper version with an electronic form, thus freeing up time for more revenue generating tasks.
Virtually eliminates time spent correcting human error - In the example above, imagine if these paper forms are employee timesheets. If the data is entered incorrectly, employees will not be paid the proper amount and additional time will be spent on several activities, including: updating incorrectly entered data, correcting affected utilization reports, revising accounting records, and appeasing unhappy employees.
Removes delays due to over-extended users - Now imagine the employee that processes these timesheets is on vacation, becomes ill, or even leaves the company. How would this affect timesheet processing? This would certainly cause a delay in payment processing and employees would need to wait longer than expected for their payment. Thus, resulting in more time spent on human resources and accounting activity in the long run.
A simple self-assessment is a great first step towards understanding how process automation may benefit your company:
- Understand your processes – This is the first step to determining whether or not this process will benefit from automation.
- Communicate with the people “in the trenches” – This will uncover areas for improvement you may not have seen otherwise since it involves the employees performing these day-to-day tasks.
- Evaluate the information you’ve collected – Check for any signs that this process may benefit from automation.
- Act! - Talk to a solution provider that will help you to understand how you can leverage technology to automate your processes and save you money.
Solution providers like DragonSpears can utilize their expertise to assist with your evaluation and implementation. Contact us below to start saving money with process automation!