Digital technology is convenient and fun. Apps that let us hail a cab, sensors in your shoes and shiny websites are all fun and remind us that “Software is indeed eating the world”.
Today, business takes place online and on mobile all around the globe, 24/7. Automating everyday business processes and workflows has become hugely important in 2018 as many companies realize that manual processes may not cut it in a world where they must act with unprecedented speed to meet customer needs, improve and innovate continuously to compete and analyze critical information.
Over the last 20 years, manufacturers had to learn to compete at the “Walmart price”. Service providers were largely unaffected. After all, you couldn’t manufacture a cab ride or a hotel room in China. How things have changed. No matter what you do, technology and automation are creeping into every area of your business and there are dozens of startups with the brains and funding to compete.
… or Amazoned or AirBnB’d? Think about it. When was the last time you went into a travel agency to book your flight? Printed out directions for your road trip? Walked into the bank to write a check for cash? We can’t remember either.
Are you wondering if you should automate your routine day-to-day approvals? You’d be amazed at the Return on Investment. Let’s do a quick analysis. Approval workflows are usually at least 3 steps long and, often quite a bit longer. For now, let’s consider a 3-step workflow:
In March 2017 APQC surveyed organizations with high transactional volumes to understand the impact of automating the sales order entry process on performance and practices. The resulting infographic (below) shows how organizations that have adopted sales order automation have improved customer satisfaction, data capture for analytics purposes, and operational efficiency.
We’ve seen this ourselves at frevvo as we’ve automated our own internal approvals. It’s far easier and more efficient than managing them through email.
Central Wyoming College saw significant value in streamlining their PO process which involves calculations, lookups and dynamic routing fixing a particularly error-prone procedure as a result. Instead of a paper-based process that required manual follow-up, delays and hours of wasted time, they now have a digital process that works on all devices, is easy-to-use and saves hours of staff time allowing them to focus on students rather than paperwork.
Watch this video recording and hear from their CIO John Wood as he demos their solution and how the college is benefiting from an automated workflow. A recording of the full webinar including Q&A is also available.
Central Wyoming College serves Fremont, Hot Springs and Teton Counties. CWC is committed to supporting students through their educational journey and helping them achieve success.
CWC wants to reduce their reliance on paper and sneaker-net processes. They saw significant value in streamlining their PO process which involves calculations, lookups and dynamic routing fixing a particularly error-procedure as a result.
“Our PO workflow was automated in record time. The forms look good and are
easy-to-use. frevvo’s system just works and meets our needs at reasonable cost.”
Chief Information Officer
CWC selected frevvo to automate their PO process because of its modern look & feel, speed of implementation, ease of use and dynamic routing.
As a result of the streamlined PO process, hours of staff time have been reduced and CWC staff can get back to focusing on students rather than administrative tasks.
Starting with one of our pre-built templates, you can easily customize it to create your own fully electronic, mobile-capable and business-ready PO in very little time. You won’t need expensive and hard-to-find skills like iOS/Android app development or HTML5/CSS3 expertise to create a beautiful, electronic app that just works on all devices.
At frevvo, we just digitized a completely customized Purchase Order approval workflow for a University customer in 45 man-hours.
Watch this short (7 min) video to quickly see how. We’ll show how to:
- Install a pre-built PO workflow template with a single click.
- Modify it to meet business requirements (we’ll add a Finance step).
- Run it in frevvo’s Cloud.
I came across this article yesterday and was amazed by the numbers. JP Morgan Chase uses software to perform a routine task in seconds instead of 360,000 hours. Imagine the ROI on this automation?
“The push to automate mundane tasks and create new tools for bankers and clients — a growing part of the firm’s $9.6 billion technology budget — is a core theme as the company hosts its annual investor day on Tuesday.”
Not everyone is as big as JP Morgan Chase. Automating your routine day-to-day tasks isn’t likely to save you that much but investing in technology, especially to automate routine tasks is an absolute must in today’s world. It’s amazing how much this waste actually costs you. Automation brings huge benefits and return on investment.
If your people are wasting their time on routine stuff like moving information from Point A to Point B, your company should be investing in automation. As we’ve said many times: is it better for your employees to focus on customers or chasing down an approval for that purchase order? Should teachers and faculty focus on students or on getting signatures for that conference travel authorization?
“People always talk about this stuff as displacement. I talk about it as freeing people to work on higher-value things, which is why it’s such a terrific opportunity for the firm.”
Like JP Morgan, which spends 9% of revenue on technology (double the industry average), you can’t sit around and wait to know what the endgame looks like. The environment is simply moving too fast.