The benefits of automation for businesses are numerous and far-reaching. Automation can help businesses of all sizes save money, improve efficiency, and grow their business. The world is on the brink of the fourth industrial revolution – a technological revolution that will fundamentally change the way we work, live, and interact with one another. This transformation is illustrated by a fusion of technologies into everyday processes, as seen in the substantial increase in AI solutions, virtual reality, big data, and blockchain technologies worldwide.
In the business sector, staying competitive hinges on replacing cumbersome manual processes with the efficiency of business process automation (BPA). This blog delves into the transformative power of BPA, exploring how it’s reshaping the professional landscape in the 21st century. We’ll unravel the advantages of automation and highlight the numerous pros of automation, demonstrating how technological innovation is the key to surmounting common business challenges through streamlined workflows and the utilization of business process automation software. Discover how automation benefits businesses, driving success and efficiency in today’s dynamic corporate world.
Advantages of Using Cloud-based EDI Software
One of the ways automation is being used to streamline business processes is with the integration of cloud-based EDI solutions into business processes. Electronic Data Interchange (EDI), sometimes referred to as electronic data exchange, is the secure, automated exchange of electronic business documents from computer to computer. Computer-to-computer EDI follows a standardized format that enables computer systems to communicate with each other and replaces postal mail, fax, and email.
These systems were designed to simplify supply chain management through greater efficiency, streamlined workflows, the automation of information exchange, and better visibility into business processes.
A few of the benefits of using cloud-based EDI software, especially for an eCommerce store, include:
- Increased efficiency, accuracy, and speed: EDI Software has a measurable benefit on business cycles – waiting times and reliance on postal services are substantially reduced, and the room for human error in supply chain management is minimized through the mitigation of paper documents. All these factors, and more, save time and enable professionals to focus more on other, more important areas of their business.
- Staff time-saving: Reducing manual processes will free up time and capacity for staff to focus on tasks that are more valuable to the business.
- Cost savings: The scaling back of manual processes means that money is saved on paper, postage, the physical storage of documents, and the time necessary to rekey data or handle physical documents. In addition, EDI allows businesses to save money that would potentially be spent on hiring IT experts to address in-house connectivity issues or the staff that would be needed to monitor your system on a full-time basis.
- With integrated EDI, documents flow directly into and out of your accounting or ERP solution without having to go through a manual process. This can accelerate your order processing, packing, shipping, invoicing, tracking, and more.
Automation Software for Your Business
Automation is a top business solution that can help companies save time and money by automating repetitive tasks and manual business processes. There are two primary types of software used in automation: Robotic Process Automation (RPA) and Business Process Automation (BPA).
Robotic Process Automation (RPA) software is designed to automate tasks that are done in the exact same way but need to be completed repeatedly, such as data entry and form processes. These highly structured tasks can be completed quickly and efficiently with the use of RPA software, which reduces costs and increases productivity across different business departments.
On the other hand, the Business Process Automation (BPA) software is designed for complex tasks that typically require human judgment, such as problem-solving skills or decision-making. BPA software takes longer than RPA but offers more flexibility in terms of implementing customized solutions for each use case scenario. This is because it supports various forms of user interaction, including voice recognition technology and natural language processing capabilities.
The benefits of automation software in business are numerous, including the mitigation of time-consuming, costly manual processes. By automating repetitive tasks, businesses can free up their employees to focus on more important tasks that require human judgment and creativity. Automation can also help businesses reduce errors and improve efficiency, leading to increased productivity and profitability. Some of the primary reasons that BPA software is being used more and more throughout the professional landscape include:
- Manual processes increase the risk of error exponentially, but automating these has been shown to reduce errors and save money, especially when it comes to automating financial processes.
- The management and evaluation of manual processes are time-consuming
- Redundancy can be expensive and wasteful
- BPA can be used to consolidate operations as businesses grow through franchising or mergers
Some examples of BPA Software are:
- Warehouse management software for inventory management, order fulfillment, and supply chain management.
- Customer Relationship Management software (CRM) for managing customer interactions and improving the customer experience.
- Point of Sale systems (PoS) for automating retail transactions
- Electronic Data Interchange (EDI) for automating information sharing and increasing supply chain visibility.
- eCommerce software solutions, which are used to improve customer experience and operational efficiency for tasks such as inventory management, customer behavior tracking, order processing, product delivery, and payment processing.
Several businesses have gained efficiency, reduced costs, and improved customer service through business process automation. These benefits are further leveraged by combining different software options to create a powerhouse problem-solving solution. For example, integrating your customer relationship management software with your accounting software can help you keep up with client information, organize payments, and make better-informed decisions.
Five Reasons to Integrate Your CRM and Accounting Software
Software solutions are designed with a specific problem in mind, and their individual features are ways to solve that problem. So, by integrating multiple software solutions that were each designed to address a particular business function, numerous processes can be optimized in one clean sweep.
Looking at this from another perspective, if your business is using multiple software solutions to address individual business functions, the possibility of process bottlenecks increases because it can be a challenge to keep up with changes when running multiple systems.
One might not think to combine CRM software with accounting software because the functions, at first glance, seem disconnected. Your CRM software is there to help you manage front-end business processes, like customer interactions, marketing campaigns, and sales management. Your accounting software, however, is on the other end of the spectrum and helps you manage back-end processes like customer purchase information, billing, and shipping (among other things).
However, integrating these two business systems into one well-rounded software solution will free you from the complexities and make your automation processes easier to navigate and maintain. Here are 5 reasons integration between your accounting software and CRM software is recommended:
- A 360 view of customer information: All of your customer information will be in one place, so you get a fully comprehensive view of your business, from sales support to accounting. This will streamline your business processes and save you time that may have been wasted looking for relevant data on multiple platforms.
- Centralized information systems improve accuracy, visibility, and communication: In order to function at their full potential, both your CRM and accounting software will require much of the same information, including your customers’ personal information, their purchase histories, etc. Integrating your accounting and CRM software solutions will mean that all the information is available to both departments without wasting time inputting the data twice into two separate systems. This will also reduce the chance of data input errors and the chances of lost sales due to inaccurate or incomplete data.
- Less chance for costly data errors: The manual entry of data is tedious, repetitive, and time-consuming, which means it is highly susceptible to human error, especially if you have to input the information into separate systems. Data quality and data duplication issues can be highly detrimental to your operating expenses and business revenue as a whole.
- Real-time tracking improves reporting and saves you money and time. Tracking revenue must be easy and immediate so that nothing is unaccounted for and your budget can be stretched. This is simply not possible with manual data swapping. Logging in, downloading the data, formatting it, uploading it, then generating the report is too time-consuming. However, the integration will enable you to find all the necessary data on one system, which is critical in staying on top of your cash flow management.
- Complex processes are simplified through automation. This will streamline workflows, increase productivity, reduce costs, improve customer satisfaction, and free up time for other important business activities such as growth or innovation.
Simplify Your Online Business with eCommerce Integration
The demand for digital trading is increasing steadily on both a B2B and B2C level. Successful eCommerce entails the back-and-forth movement of all the necessary data to complete online transactions successfully. It typically includes everything from customer and pricing information to the specifics of inventory and shipping management. In order to grow your business without scaling resources, you must consolidate your business operations into one manageable platform. This can be done with eCommerce system integrations.
An eCommerce integration may be defined as the relationship between the front-end component of a business, such as a website, and the back-end systems that support it, such as Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems.
The coordination between these two components (front and back end) is crucial in ensuring the constant inflows and outflows of business information to keep processes running smoothly. eCommerce integration achieves this goal by storing all business data on a centralized system that is easily accessible to anyone who may need to use it.
Bring it all Together with ERP Automation
Enterprise Resource Planning software (ERP) is a system that companies use to manage their daily operations. Companies use ERP software to automate business activities like risk assessment and management, project management, supply chain processes, accounting, warehouse management, inventory management, human resource management, and procurement.
By automating these processes, which are complex in their own right, the necessary manual labor to carry them out continuously and successfully will reduce substantially.
ERP is the all-in-one business solution for improving business operations and allowing personnel to perform more specialized tasks. ERP solutions allow eCommerce platforms to seamlessly integrate various software programs and applications into one centralized system to avoid the common pitfalls covered in this article (such as redundancy, duplicate information, accuracy errors, communication barriers, etc.).
Data sources and applications must be connected for ERP to function efficiently. It allows multiple systems to be managed once connected, and can handle many business processes. Some common functions ERP software assists with include:
- Fast-tracking order placement
- Keeping customers updated throughout all stages of the business transaction (order confirmations, shipping progress updates, notifications into any delays).
- Considering procurement information to automatically adjust or propose changes to selling prices to ensure a company maintains profitability.
- Automatically adjusting the inventory and informing customers of the number of available products.
- Customized reporting to customers, stakeholders, and staff.
A Guide to Implementing Business Process Automation
With so many factors to consider when it comes to Business Process Automation, it can be confusing and overwhelming for businesses. Finding a starting point and working from there is easier said than done when you don’t understand the automation solutions available or you haven’t properly considered what functions you would like your software to perform. However, to stay competitive in a technologically-centered business landscape, familiarizing yourself with BPA and integrating it into your business processes is essential.
There are a few key factors to keep in mind when considering BPA and ERP systems for your business.
- Identify your business goals (long-term and short-term) and thoroughly investigate what software solutions align with them and can help you reach them.
- Review your business processes and look into what tasks you need to simplify or what tasks need to be automated the most. Thereafter, it will be easier to find a solution that will save you time and money.
- When selecting your BPA tools, make sure they align with your needs and goals. For example, an ERP system is beneficial for monitoring warehouse activities, while a CRM system can help you achieve your marketing goals.
- Make sure that the data you input into your systems is accurate, complete, and relevant. The accuracy of the data is pivotal in the success of the BPA system, so ensure you standardize fields and data forms and make sure you are not using any duplicate or unnecessary data.
- Cross-departmental communication is vital in ensuring the switch to automation goes over smoothly. Get feedback from different departments to measure the benefits or fallbacks of the automation, and you can adjust your strategy accordingly.
- Don’t dive in head-first. It is always better to start small when implementing new business processes. If you take small steps when setting up your BPA system, you will see big results over time.
Business Process Automation can help overcome many business challenges, but it is important to remember that automation does not mean that there is no room for complacency in your business. Although BPA reduces the amount of human intervention necessary, it is not meant to mitigate it completely. It requires constant reviews to ensure it is running smoothly and to help identify areas for improvement.
If you have any questions about how BPA may help your business, what solutions your company could benefit from most, or if you’re ready to get started with process automation, Terracor can help.
At Terracor, we understand the benefits of automation, including increased efficiency, reduced costs, and improved customer service. That’s why we provide various e-commerce business solutions to improve and automate your day-to-day work processes, from expert consulting regarding your resource management software to developing customized web applications. Contact us today to find out how we can help you achieve greatness with the benefits of automation.
