Every day, people throughout the organization perform tasks, route information, and make decisions as they perform business activities. Many, if not most of these fiscal activities are performed manually utilizing paper-based forms and excel spreadsheets. All these take more time and may lead to operational risks and inefficiencies.
Fiscal responsibility has become very integral to any business today. Over the last few years, we have seen financial controllers and finance managers invest significant time, effort, and resources in looking for tools that can improve their handling of fiscal processes in an attempt to ensure compliance and a consistent, predictable return of investment for the business.
Therefore, it comes as no surprise that companies of all sizes continue to rank workflow automation as the top business and technology priority. Optimizing processes across all departments within the company – with a sound workflow solution at the core – will progressively lead companies to performing at peak efficiency, conserve resources and ultimately increase profitability as the business grows.
Workflow automation is a concept that transforms existing business activities, roles, and tasks from legacy and manual systems into a centralized, automated structure. Data is stored in secure places where it can’t be lost or accidentally destroyed. When information is transferred and shared through a competent software, elements of human error are kept marginally low.
Automating a company’s workflow offers many benefits. We have listed the 4 most common reasons to adopt to workflow automation.
- Faster and Error-Free Work
Human as we are, we can only produce so much output of work in a given amount of time and that work we produce will inevitably be prone to error (after we factor in the number of hours we have worked or our personal issues on the side that may lead to distraction).
Workflow automation can streamline the entire process which allows workers to process work at a much faster rate and also eliminates the risk of costly human mistakes. Streamlined, error-free work is a definite advantage.
- Empower employees for greater efficiency
Workflow automation improves employee accountability because there is a built-in oversight mechanism. Management can see what is taking place and determine if any bottlenecks exist without having to interrupt employees and pull them away from their work. Employees become more efficient and effective in completing their task.
- Increased Productivity
Workflow automation helps to reduce the number of tasks employees would otherwise do manually, freeing time from their hands to work on other important and business impacting tasks. This essentially allows more things to get done in the same amount of time.
In addition, this reduction of repetitious work in an employee’s day can help to increase employee motivation and productivity by making their job more interesting and stimulating.
- Improved communication and visibility
Many workflow and processes involve more than one component. Some even require input from departments altogether. When workflow automation is adopted, it brings everyone together to communicate what needs to be done and how. Because processes are being held electronically, with the right tool – visibility and accountability also significantly improve.
While there is a multitude of other reasons workflow automation is becoming more popular, these benefits outline why every growing business needs to invest in a solution to be able to scale strategically.
DSPanel offers cutting edge technology platform for business analytics, planning, and visualization. DSPanel designs, builds, and operates with the end users in mind. Performance Canvas was created by DSPanel to answer the unarticulated needs of the market not addressed by previous available solutions. With Performance Canvas, information is transformed into valuable business insights for the business executives to utilize in their decision-making process. DSPanel currently has over 2500 organizations deploying their solutions.
