In the past couple of years, robotic process automation (RPA) has become a hot topic. In 2021, companies worldwide continue to invest aggressively in RPA. With the focus on optimizing the hybrid workforce, companies across Finance, Insurance, Healthcare, Logistics, and more are increasingly adopting automation for new use cases.
RPA is all about unshackling knowledge workers from mundane, time-consuming, and repetitive tasks, saving them time to tackle challenges that actually require their attention. Automating core processes not only streamlines end-to-end tasks but also supports top-line revenue with data accuracy and timeliness.
Here are three business processes you need to automate today:
1. Sales contract management
A sales contract is an important agreement between a business and its clients. It outlines who’s buying what from whom, what’s the price and payment terms, and what measures will be taken if something goes wrong. Inefficient contract management can put undue stress on your sales and project management teams. Any mismanagement can lead to non-compliance, inaccurate information, and avoidable confusion. Automation, on the other hand, helps you to achieve data integrity, compliance, and productivity, without adding headcount.
Why should you automate: Automation eliminates manual errors and helps you achieve accurate data. Even a minor mistake in a sales contract can lead to costly consequences ranging from reduced revenue to lost client trust. Automation accelerates the contract creation and approval process with zero scopes for human-induced errors.
2. Employee onboarding management
Today, the workforce environment is hybrid. Remote work has allowed global organizations to hire talents from across the globe. While finding the right talent can be time-consuming in itself, onboarding new recruits can be another challenge. Without streamlined processes, your new hires could find themselves in confusion which hinders them from being productive from day one. Paper documents and manual processes create poor employee experience and affect overall efficiency. Businesses can leverage RPA to automate repetitive onboarding processes including form submissions, approvals, software licensing, equipment assignment, account creation, and more.
Why should you automate: Employee onboarding automation can be a huge time saver and enables new employees to hit the ground running on the joining day. Automation ensures all communication happens efficiently and new recruits are well informed about their goals. RPA accelerates the entire onboarding process and saves employees from cumbersome paperwork while allowing them to build relationships with colleagues.
3. Invoice processing
Getting paid on time is imperative for businesses to maintain a positive cash flow. Though enterprises have adopted digitization of several business processes, there is poor penetration into the accounting processes. According to the Association of Certified Accounts Payable Professionals (ACAPP) survey, only 5% of organizations have fully automated their account payable processes. And nearly one in five businesses followed completely manual, paper-based processes.
Why should you automate: RPA streamlines and expedites payment processes while reducing workload and saving time. Through automation, invoice data can be extracted with full accuracy and route for review. Automation ensures compliance with clear audit trails of who is approving or raising a dispute, when an invoice was modified, and why it was required.
Discover Highly Automatable Processes
SurfaceAI is a proven processes discovery tool that enables global enterprises to uncover hidden process variations and exceptions to identify the standard, high ROI processes for automation. Sign-up for a personalized demo to explore how you can get the most out of your RPA program.