Expert Advice for Medium and Midsize Businesses

12 Amazing Workflow Automation Benefits for Growing Companies

Guest Author

Nearly every task that a small-to-medium business (SMB) undertakes has a system of processes to support it. This system of processes is the basis of workflow automation. Automating your company’s workflow provides the one thing a growing company needs—flexibility. SMBs have the flexibility to take manual (even paper-based) processes and automate them, with little to no changes. As a bonus, a series of checks and balances can be mixed throughout the workflows to eliminate mistakes, speed processes up, and provide built-in contingency plans.

So the question is “how does workflow automation support your company’s enterprise resource planning (ERP) solution and even provide a competitive advantage?”

Well, ERP systems house the data needed to drive a company’s financials, and workflow automation deals with the processes that a company uses to conduct transactions to add additional information to the ERP system.

Let’s take this train of thought one step further. Most processes are based on solutions within an ERP Cloud system. Purchasing, inventory management, logistics, sales quotes are just a few that rely on data (or even transactions) within ERP.

Having the ability to automate steps in increases both speed and accuracy, and eliminates knowledge/data siloes, mistakes, and the need to rework. It also provides the scalability and repeatability that growing companies need as they enter new markets, hire new employees, and iterate new products.

But what are the tangible benefits?  The list could be miles long, but here are 12 of the most common:

  1. Streamline (and therefore speed up) processes by reducing manual entry and request handling
  2. Reduce errors and re-work by automating data collection
  3. Lower the chance of erroneously approving requests, contracts, quotes, new hires, etc.
  4. Improve the compliance function through consistent processes and built-in audit trails.
  5. Increase output and increase productivity by eliminating bottlenecks and tribal knowledge siloes.
  6. Provide an efficient, personalized experience for employees through 24/7 self-service functionality
  7. Status tracking in real time
  8. Improve employee engagement through the better alignment of tasks to skillsets and allowing staff and management to focus on value-added projects and tasks.
  9. Drastically reduce paperwork and associated costs and waste.
  10. Speed decision making process by getting needed information in front of those who need it.
  11. Halt the circumvention of organizational business rules.
  12. Eliminate bottlenecks by providing reminders and alerts when tasks age.

Many ERP Cloud solutions offer a form of workflow automation, but typically there are a set number of predefined named steps, which doesn’t provide much flexibility.

Oracle ERP Cloud, on the other hand, connects with a full suite of business-critical Oracle Cloud applications. Automate finance processes across every function of the business without relying on third-party integrations or half-optimized processes.

If you want to know more about how Oracle can help your growing business transform through new enterprise resource planning software, check out Oracle’s ERP solutions for small-to-medium businesses (SMBs).

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