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.
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.