One of the biggest challenges that businesses grapple with today is a talent shortage. A recent report from ManpowerGroup reveals talent shortages in the US have more than tripled, with 69% of employers struggling to fill positions in 2020, up from just 14% in 2010. Faced with massive workforce attrition, dwindling numbers of talented candidates, and increasingly volatile business environments, busy executives are now turning to automation to fill the skill gap and excel in their roles. Automating work processes does not only save time but also reduces costs while enhancing work process efficiencies.
Why Automate Your Business Processes?
Organizations across the globe are adopting process automation to solve typical issues that they face daily, including lack of talent, downtimes, losses, rising costs, and more. Automation is a great way to improve performance and gain an edge over your competition. Some of the immediate benefits that come with automated business processes include:
Cost cost-effectiveness: Automating repetitive, mundane tasks reduces your need for extensive and costly labor. It also reduces paperwork expenses by eliminating the need to create, manage, store and protect physical documents.
Increased accuracy: Machines and bots are typically better at crunching numbers than your human workforce. This means tasks that contain calculations can be performed more accurately and with minimal errors if automated. Some of the typical tasks most businesses automate are data entry tasks handled via spreadsheets like Microsoft Excel or Google sheets.
Reduced employee turnover: Contrary to popular myths, automation is a great way to increase employee job satisfaction. Studies reveal companies that have introduced automation have experienced a reduction in employee turnover. Executing recurring activities each day is not only monotonous for employees but also demotivating. Automation frees your employees to focus on more high-value tasks they enjoy doing, ultimately making them happier and more productive.
Data-driven decision making: In the current high-paced business environments, busy executives often need to make split-second decisions on a range of business issues. Decisions can’t be made without information. Automation undeniably reduces the time it takes to process data manually. With automation, you can collect, analyze, and retrieve crucial data for informed decision-making.
Promotes employee development: There is no doubt your employees are your biggest asset. Providing them with opportunities to acquire new skills and grow their knowledge base is crucial for the success of your business. Automation tools provide myriads of opportunities for employees to learn new trends and develop top-notch skills.
Business Processes That Can Be Automated
Business process automation leverages innovative technologies such as RPA, IoT, Machine Learning, and AI to automate recurring tasks. Essentially, most businesses only automate a portion of a specific process and then connect it to human-led processes. However, there are scenarios when innovative businesses completely automate some tasks from start to finish. Some examples of business processes often automated include:
Automated Order Processing
Automated order processing is an integrated technology and system to eliminate manual work and process orders quickly. With automated order processing, a business can improve efficiencies, speed up fulfillment and shipping processes and reduce human errors. A fully automated order processing system can integrate with an online store and other sales channels to automatically process and verify orders that customers place online.
Automated Purchasing of Goods and Services
Automated purchasing involves the management of the procure-to-pay cycle using technology instead of typical manual processes. Most purchasing procurement tasks are repetitive, meaning they are ideal for automation. Automated purchasing brings considerable benefits to your organization, including greater cost savings, less non-catalog spending, greater visibility into your spending, maximized efficiency and resources. With an automated system, managers mandated with approving purchases ensure the proposed expenditure is absolutely beneficial to the company.
Operational Reporting and Analysis
Businesses are also automating their operational reporting and analysis. Professionals use automated reporting tools to create, analyze and share business reports at a given time and in real-time. Automated reports eliminate the traditional way of communicating data since automation tools come with intelligent features that improve collaboration, such as interactivity, a drag-and-drop interface, and predictive analytics. Report automation offers several benefits to your business, including real-time decision making, increased accessibility and transparency, enhanced communication and productivity, and more.
There is no doubt the manual reconciliation processes are the least efficient and most cost-demanding process in a company. Automation can help simplify and speed up accounts reconciliation while guaranteeing accuracy and freeing up time for your employees. Automation tools designed for reconciliation can handle mundane, repetitive tasks such as transaction matching quickly and efficiently, thus allowing your accounting teams to focus more on complex accounting tasks.
Forecasting and Budgeting
Today, more businesses are leveraging automation tools to complete mundane and repetitive forecasting and budgeting tasks, including data gathering, file imports, formulas, and other manual and time-consuming tasks. By automating these tasks, you will reduce risks, errors and save time on manual and disjointed processes.
Automating data flow during forecasting and budgeting allows your employees to spend more time understanding and analyzing data instead of juggling between one tedious and manual budgeting process to another. Automated systems help improve budget accuracy by eliminating chances of errors. This means your budgets and forecasts will be more reliable.
Automating Business Processes with the Help of Power BI
Power BI Reports Scheduler (PBRS) is a Windows server-based application by third-party vendor ChristianSteven Software that helps busy professionals to automate the scheduling, exporting, and distribution of Power BI reports, SSRS reports, and dashboards.
PBRS is designed to transform your business’ data into actionable information while providing practical ways to share that data with relevant decision-makers within your organization. The Power BI dashboard offers unmatched visibility into your business operations by pulling together reports, excel workbooks, images, and more.
With the Power BI email scheduling feature, you can set a dashboard subscription that enables you to achieve a 360-degree view of your entire process promptly delivered to your email. Ideally, the Power BI Reports Scheduler allows you to schedule daily, weekly, or monthly reports and automate them to run based on preferred event triggers such as unread emails, database modifications, and database value. It also comes with other functionalities, including remote administration, multi-threading, report history snapshot, schedule system backup, and more.
Optimize Your Business Operations with Power BI Automation
If you need a reliable automation tool to deliver data into the right hands efficiently, quickly, and consistently, then Power BI Scheduler (PBRS) is your best bet. The Power BI Reports scheduler is designed to help businesses access the data they need quickly and in the proper format. It is the ideal tool for automating your reports’ filtering, distribution, and delivery on the cloud and on-premise.