The benefits of business process automation
Companies are adopting automation technology in an attempt to become more efficient. But when you select a new technology you need to know exactly how it can help your business succeed. Understanding what automation is, what its benefits are, and identifying tasks that can be automated is very important in evaluating automation technology and solutions.
What is a business process automation solution?
Business process automation solutions are technological tools that automate those parts of the business that operate guided by rules or processes based on logic and recurrence. These are usually repetitive tasks and include actions such as approvals, purchase orders or data flows. Transferring such tasks from humans to technology has multiple benefits.
What are the benefits of a business process automation solution?
1) Frees time for value-added work
Manual, repetitive and time-consuming processes are best suited for business process automation. It’s not that employees can’t handle them, it’s just that they absorb a lot of time from their workday, holding them back from value-adding activities that actually require real thought and human intelligence. By automating all these daily tasks, people on teams have more time to spend on the things that matter, making them more engaged and increasing productivity at the same time.
2) Makes processes run smoothly
Once the automation platform is up and running, it runs seamlessly and, unlike employees, never needs to take a break or go on vacation. By automating tasks, they never have to wait for someone to return to the office or take time out of their schedule to complete the necessary paperwork. Automating business processes means removing such bottlenecks and delays so that the business can run sustainably and efficiently.
3) Standardizes systems
One of the great advantages of business process automation is that it removes any exceptions from business processes. There are no two ways of doing something and the instructions are followed to the last detail. So there is no need for anyone to worry about someone’s illegible handwriting or “interpreting” the process. There is a set of rules that are strictly followed every time.
4) Reduces errors and ensures compliance
Everyone makes mistakes. We’ve all written down the wrong number, misheard a zip code or misplaced a document at some point. But in business each of these errors has a knock-on effect: a delay in production, a wrong delivery or, in the worst case, a mistake that means that industry-specific regulations or even existing legislation are not followed. A business process automation solution minimizes the possibility of these errors occurring. Everything is solved by digitizing processes and reducing human involvement in data processing or document management. Additionally, compliance visibility across all systems is increased so teams can be sure they are always in compliance.
5) Connects all data
Separing every activity is the enemy of efficiency. And nowhere is this more true than when it comes to data. Business process automation connects all data sources, from legacy systems to the latest, so that gaps between systems are eliminated. This way there will be a single source of truth for data across the organization and deeper insights into how the business is working can be obtained to make informed decisions. A reporting platform provides visibility into bottlenecks and inefficiencies in processes so that they can be addressed and continuously improve the way the company works. It can also use predictive analytics based on past performance to create self-optimizing processes.
In conclusion
The benefits of business process automation can be achieved in almost all companies, regardless of size or industry. In this way teams manage to halve the time required to complete an approval, order or data flow. Automation is no longer an option, but the relevant answer to the competitiveness requirement.
Alina Făniță este CEO și Partener al PKF Finconta. A lucrat cu companii multinaționale sau firme antreprenoriale din domenii diverse de activitate, pentru a le oferi servicii de audit financiar, due diligence, restructurări de grupuri, audit intern și alte servicii conexe activității de control intern. Este membră a celor mai prestigioase asociații profesionale din domeniu: ACCA (Association of Chartered Certified Accountants), CECCAR (Corpul Experților Contabili și Contabililior Autorizați din România), CAFR (Camera Auditorilor Financiari) și IIA (Institute of Internal Auditors). A absolvit EMBA Asebuss la Kennesaw State University, a fost trainer pentru cursuri IFRS și este invitată ca expert la numeroase conferințe de business. alina.fanita@pkffinconta.ro
