4 Key Business Uses & Drivers for Adopting Automation – ActiveWorx Financial Transformation Platform

4 Key Business Uses & Drivers for Adopting Automation

Marty Michael Blog Recent Blog Posts October 24, 2019 | 0

When you hear the word, “automation,” what does that mean to you? Most organizations probably do not believe automation is relevant to their field or business – which is why many are falling behind in necessary efficiencies of business processing that result in significant cost savings.

The reason for this? Simply a lack of knowledge on the subject!

Intelligent Automation can be applied in many ways, across any industry, with multiple objectives in mind. Most corporate users of Intelligent Automation are utilizing Business Process Automation Solutions. These solutions enhance and streamline your processes, reducing errors that come along with manual data entry, increasing the overall efficiency of your business.

Here are the most common use cases and drivers for adopting automation:

(1) Documents and Record Management: Nothing is more frustrating than an office filled of unorganized documents! Most businesses utilize automation solutions to digitally capture and manage all invoices and documents in one, secure place and utilize the solution to perform audits and easily search documents when needed.

(2) Claims/Booking/Invoice Management: Many organizations struggle with manual processing of documents and data such as claims, bookings and invoices Automation Solutions exponentially improve methods of collecting and processing such data without the need for manual entry.

(3) Customer/Vendor Relation Management: Automation solutions can greatly improve customer and vendor relations. It provides an organization more readily available and accurate information for responding to their inquiries.

(4) B2B Payments: Many organizations are familiar with the benefits of automating their invoices, but did you know you can automate the execution and optimization of B2B payments as well?

Given the high volumes of B2B payments and suppliers, as well as varying payment methods and banking information, automating payments can be a game-changer. Automating who gets paid what and when while ensuring the lowest cost payment method, your cash flow can be dramatically improved.

In addition to these use cases, many businesses have niche elements and processes that also can be automated. It is important to find a solution that can automate the bulk of your processing needs up front, while having additional configuration options able to support your business’ growth and change.

Now that you have the background knowledge to know why intelligent automation belongs in your business what’s the next step? Educate the rest of your team, so you can all work together to find the optimal solution for your business and start enjoying the benefits of seamless process efficiency.