In any forward-thinking business, efficiency is always kept in mind – or at least should be. For the year, one of the most important metrics to measure a company’s success is: How efficient was the work performed to achieve its goals? With so much information surrounding a company, data efficiency is becoming a more key aspect when affirming the title above.
Automation Supports Faster Growth
Business process automation (BPA) is a strategic process of integrating functions, building resource efficiencies, and implementing software systems to achieve an improved end result. In the Inc.com article, “How to Automate Your Business for Fast Growth”, Jeff Haden touches on this concept. It highlights that automation applied to process (data driven or not) will grow your business, as it allows employees to focus on tasks related to the output of the automations. Hence making inferential decisions as opposed to simply gathering the data. Furthermore, the article highlights that once ready, businesses need to select a technology partner that will scale with you. A practice that 9Gauge prides itself in with all clients.
Minimized Risk (of Error) in Decision-Making
Modern businesses today generate a vast amount of data around nearly all activities on a regular basis. Nearly any facet of any business contains information that can be captured and leveraged. Customer, invoice, tax, infrastructure, users, financial, utilization, and market share represent some examples of data that support leaders when making applied business decisions or delivering an end product. When businesses apply correct data automation techniques, you consequently minimize the human component of calculations, or potential human error. It also maximizes time available to make those decisions or produce a deliverable.
Reduced Operational Costs. Reach Your Goals Faster.
We see data automation in action in our everyday lives. Everything on the consumer market today plans on eliminating the mundane and automating where possible. Take any phone for example. Current technology allows us to tell the temperature outside, measure commute time in traffic, and use fingerprints to pay for online transactions. In the past, all of these examples required a manual process that took time to achieve. The process itself added little value. Now apply this same concept to a business. Many businesses improve exponentially by putting their data to work for them. In other words, reduce the wasted down time in manual processing. Optimize your employees’ time. Hone in on more strategic results. Thus, by adding an integrated system (e.g., NetSuite) and improved transactional applications (e.g., Bill.com, Expensify, etc.), your complete business ecosystem can streamline activities to help you reach your goals faster.
By year’s end, your company will have measurable metrics to compare a year with automation and one without it. Moving forward, all of your data automated process will scale alongside you. Your team can better focus on new market shifts, product releases, and much more.
At 9Gauge, we believe that in making the decision-making process simpler, easier, and more accurate, business leaders can better run their organizations. Our strategic financial advisory services regularly target these efficiencies. When you’re ready to talk through financial and systems automations for your company, we’ll be here to guide and support you through the process.