Improving the efficiency of business processes through digital transformation
How to improve business processes
It is widely known that digital transformation is not something that can be successfully achieved with one big global reorganization project, and a paperless office cannot occur in one day. Companies that make the transition in the form of managed steps, defining and prioritizing the digitization processes, get more effective results.
Today, most organizations successfully operate in a hybrid environment, creating a unique balance of digital and analog business processes. Therefore, before investing it is important to pay attention to which processes are the most critical, complex and time consuming. Many of these processes take place in the personnel and finance departments.
Financial department transformation
The finance department has a reputation as an adherent of analog processes and systems of previous generations. 88 percent of professionals in the field of finance fully recognize that it is difficult for them to fulfill their business digitization goals. In a recent Canon survey, every third of respondents reported that they digitized or automated invoices for payment, receivables or supplier management.
How to start when planning a digital transformation in the financial department? The first step should be to verify the processing of invoices. Manual invoice processing is relatively common, but can lead to serious cash flow problems. Studies show that the error rate when filling out accounts manually ranges from 12 to 15 percent, regardless of seniority or work experience of employees. The best tool is to implement automated invoice processing to optimize workflows and automatically collect, verify, and compare invoice data.
Another way to improve work efficiency is the introduction of an automated integrated solution for payment orders (P2P). In cases where unproductive and outdated workflows limit growth potential and adversely affect profitability, an automated P2P solution reduces time, money, and administration.
Digital evolution and the transition to a paperless office are still among the top items on the corporate agenda, as they promote employee development and accelerate innovation. At the same time, although staff of the personnel department are increasingly faced with the need to improve the level of literacy and skills of existing and new employees, 2 of 3 companies continue to maintain personnel documentation on paper.
Digitization of personnel department begins with the study of administrative processes that are still manually processed. Digital document management and archiving reduces the time and cost of managing employees.
Automating processes such as reimbursement requests, annual leave requests, and feedback from employees can increase available time for staff planning, recruitment advice, and developing training programs.
Transferring documentation to a finance department (such as invoice processing) and a personnel department (such as job applications), and ultimately creating a solid foundation for improving the efficiency of business processes in an organization, is a way to manage internal mailing and archiving. Without the use of special tools, mail processing takes a lot of time, and employees are not immune from errors and cannot track senders and time of departure. The implementation of the Digital Mailroom system allows you to automatically digitize, recognize and check all internal mail, as well as send the necessary data to the correct recipients in a matter of hours. Through these processes, Digital Mailroom reduces operating costs and improves customer service.
Companies may find that different departments or functional units are at different stages of readiness for working with a digital system, and the processes in them also differ depending on the degree of digitization. The key to improving the organization’s business processes is not the final destination of a paperless office, but the development of an intelligent hybrid solution that balances manual, digital, and automated processes and is ideal for use in a company’s digital transformation process.