Companies Lose 20-30% of Potential Revenue Due to Poor Business Process Automation
Here’s How to Change That
Companies lose 20-30% of their potential revenue due to poor business process automation. It’s an astonishing figure given that business process automation can be a reasonably easy fix. Yet, companies are leaving thousands, if not millions, of dollars on the table due to poor processes.
There’s a direct link, too, between business process automation and customer satisfaction. When processes are automated and streamlined, orders are filled faster. Customers receive better service. Faster shipping and better service are two areas that are known to improve customer satisfaction. The result is increased customer loyalty and repeat sales that enhance the bottom line.
Where do you begin to automate your business processes? This step-by-step guide will help you narrow down the areas to begin.
Questions to Ask Before Starting Business Process Automation
- What do customers complain about the most? Look over the call history in your customer service department and determine what customers call to complain about the most. That gives you insight into a problematic area. Often, processes make sense to your business but not to your customers. And, it’s often the case that methods get “written in stone” and followed to the letter long after they cease to make sense. Examine your processes around customer needs, and that gives you the best insight into where to begin business process automation.
- What are your company’s most significant pain points? After beginning with your customers’ biggest pain points, look to your company’s main stumbling blocks. What do you struggle with? If your inventory is dragging your company’s profits down due to overstocks or shrinkage, then it makes sense to automate inventory and warehouse management. Likewise, if your accounting department complains they can’t keep track of the bills, then focus on accounting system upgrades.
- What is your budget? Consider your budget and how much you have to invest in business process automation. Then, use your budget considerations to prioritize which process to invest in first. Customer satisfaction should come first, followed by enhanced internal company efficiency.
- Does the new system require maintenance? Some systems, such as cloud-based systems, are maintained by the software provider. Upgrades and updates occur automatically on the cloud, and there’s minimal impact on your business. Other systems may require on-site upgrades and other maintenance by professionals trained by the software vendor. Consider any additional costs, such as upgrades, support, and custom programming that may be needed to implement and maintain the initial business process automation software.
ERP Systems Offer Excellent Business Process Automation
ERP systems such as Acumatica Cloud ERP and Sage 300cloud offer excellent business process automation. From your first day using them, you’ll notice a change in how your business conducts typical daily tasks. Many tasks, such as reminders and reports, are automated and can be programmed to run at predetermined dates. You won’t struggle anymore to export data into spreadsheets and make graphs and charts for reports.
When you choose new software, be sure to document any new processes so employees can be trained on the changes. Be prepared: once you automate one area of your company, you’re likely to see ripple effects throughout other departments, too. More departments may request updates to processes and automation. Fortunately, ERP systems are ready for the challenge, and a sound base system and additional modules can provide you with what you need to automate your entire company.
Mindover Software Delivers Real Results
We have delivered real results for our clients when they automate their systems. Check out these success stories:
- Payroll automation: After automating their payroll systems, Bethany Home Healthcare cut payroll costs by almost 200%. What used to take 5 people four days, now takes three people one and half days.
- Accounts payable automation: Bethany automated their process for sorting. Batching. and posting invoices. In the old system they spent 1.5 days sorting and manually entering invoices. This was reduced to a 15-minute process.
- Cash transaction and reconciliation: For Mays Housecall Home Health Group, cash transaction processing and reconciliations used to take 40 hours per week. With the new system in place, the time was reduced to just 6 hours. Using Sage 300, Mays gained seamless and consistent data throughout the entire organization.
- Credit card processing and order entry automation: The Mindover Software team evaluated the procedures and manual processes for a distribution company, RJ Star, and then developed a comprehensive plan to streamline workflow and automate processes. No longer manually keying invoices saves several days of time every month.
- Commission tracking: RJ Star also saved thousands of labor hours each year, eliminated the need to hire and train additional staff, and minimized costly human errors. The new commission tracking system had a rapid ROI as tracking decreased from 20 hours to 2 hours per pay period. (RJ Star recently moved to Acumatica to enable growth. Read more about it.)
- Mobile Order Entry: When Nebraska Vet wanted more accurate information, Mindover Software implemented Acumatica with a Customer Management System. This automated order entry with mobile access, offering real-time visibility of inventory regardless of location.
For a consultation about your business automation needs, please contact us or call 512-990-3994.