What is Business Process Automation?
Business Process Automation (BPA) is the use of technology to automate business processes and reduce human intervention. It basically automates the workflows of the enterprise to make it faster and more efficient. Automated business is the key digital transformation strategy for today’s businesses. A BPA solution can help businesses as:
- It automates repeatable tasks so that employees can focus on more productive tasks.
- It replaces manual tasks that are prone to human errors. Thus, it increases the accuracy of the tasks.
Types of BPA
It is upon the organization to decide the level of automation it wants to achieve. Following are the four different types of Business Process Automation that organizations can implement:
- Basic Automation: This involves automating simple and fundamental tasks using basic automation tools. Additionally, it requires little to no coding, eliminating errors and accelerating the process. Examples of basic automation include file transfer and order entry.
- Process Automation: Process automation involves automating business processes for bringing transparency and uniformity. This is handled by dedicated software that enhances productivity and efficiency while also providing valuable insights into the business. Automating the hiring process, employee onboarding, logistics and supply chain management etc. are examples of process automation.
- Advanced Automation: Advanced automation supports more complex processes within the organization. It further coordinates between humans and machines to handle complex tasks. It relies on machine learning, natural language processing and analysis, etc. for automating business processes. Safety monitoring, error detection and recovery, and repair diagnostics are some examples of advanced automation.
- Intelligent Automation: Powered by Artificial Intelligence, business intelligence automation enables the machine to learn and stimulate human intelligence and make decisions accordingly. Intelligent automation has use cases in several industries. It can pull data from the database, update records etc. Further, it can be used by insurance companies to extract data from claims form and port information to the CRM.
Benefits of Business Automation
Achieving automation with the best automation software for business can unlock the following benefits:
- Lower Operating Costs: As business automation automates manual and redundant tasks, consequently, it directly reduces the operating costs of businesses.
- Faster ROI: Automated business improves the speed of operations and processes. This provides a better and faster return on initial investment in automation.
- Being More Competitive: To remain competitive, businesses must enhance operational efficiency. In doing so, they should focus on core competencies and prioritize objectives. Automation is the key to achieving these goals.
- Reduced errors and increase in speed: Business process automation reduces errors due to reduced manual intervention. This further helps in speeding up the reconciliation exercise.
- Increased Profits: Profits tend to increase as the business moves from manual redundant tasks towards more productive tasks.
Business Automation with Firmway
Business automation software that allows you to automate accounting functions. This includes:
- Automating sending manual emails and documenting the response for balance confirmations
- Integrating with ERP for ledger reconciliations
- Unique algorithm enabling businesses to achieve 95% GST reconciliation between the purchase register and GSTR-2B
- Collection management by sending weekly outstanding and automating reminders
- Data collection with customized forms and follow-ups
- MSME confirmations to help you know whether an entity is an MSME or not
It is time for all our readers to accelerate processes in their respective companies through efficient automation. Click here if you wish to take help.
