Survival of the Leanest?
Whether you are in the legal industry or mining and gas, the signs are clear. Customers want more for less, competition is at full saturation in many industries and employee tenure decreases with Gen Y and Millennials entering the workforce.
Offshoring to reduce costs, outsourcing to specialists and automating non-core business processes will become the competitive differentiator between companies of every industry and, in most circumstances, will determine if that company survives or not.
Will your business be one that survives in 10 years?
Age of Automation
If ever there was a trend impacting business today, it would be business process automation. Spawned during the Ages of SixSigma and Lean Manufacturing in the 80s and 90s, minimising waste and tightening up every element in a process has evolved parallel to immense advances in technology.
An open market has led to a deafening boom in the development of apps, software and enterprise systems which exist solely to automate manual processes in almost every department imaginable – from HR and Recruitment to marketing and social media and, of course, banking and finance.
eSmart Paper by ESP
As you probably know, Accounts Payable is one of the most labour intensive areas of any business. As part of their commitment to save their customers time and energy, ESP developed eSmart Paper; a technology which can capture invoices into digital formats, which:
- Reduces manual data entry and coding errors,
- Decreases processing times
- Increases security and mitigates risk of fraud or misconduct
- Improved cash flow management and forecasting
- Integrates seamlessly with your other business systems
- Automates audit trails
But how to choose?
With automation technology as far as the eye can see, how on earth do you compare them all? Where do you start? What do you look for?? Well…ESP always ensures their software incorporates these 5 things (and recommend you use them too):
- Customisable workflows – there’s no point in buying a piece of technology if you can’t make it work the way you want it to
- Multi-device responsivity – this day in age, if it doesn’t work on all types of devices, you should forget it.
- Quick to deploy – no one needs to endure downtime and excessive business disruption. Implement it and deploy it.
- Agile once in service – your needs as an organisation will change over time. That’s ok! Make sure your automation technology can move with you.
- Shows measurable value over time – real time dashboards and reports you can use to optimise the whole package.
Inefficiency, where for art thou?
All in all, the concept of automation has catapulted business into a situation where it’s impossible for inefficiency to hide. Which is great, right?
The short answer is “Yes” – making your business more cost-effective and streamlined by leveraging automation technology is mission critical because it will save you time and energy (and money in the medium to long term).
The long answer is “It Depends”. “On what?”, we hear you ask? Well, let’s put it this way. You are saving your employees’ time by automating what was a manual task… but what are you using the time you have gained to achieve?
For those that loved a pop quiz in school, you’re in luck. Here’s your chance to shine:
We say “it depends” because IF the time you have saved by automating a manual process is used for good and not evil, you have the potential to unlock true value.
Think efficiency. Call ESP TODAY for an obligation free consultation on how you can save your business time and money.