According to the Asia-Pacific Economic Corporation (APEC), small and medium-sized businesses account for nearly 97 percent of all businesses. These SMEs employ the majority of the workforce in APEC economies. Suffice it to say that SMEs are the engines of growth, and we cannot deny their immense contribution to GDP. However, it seems that the increasing digitization has eluded most. A large part still relies on outdated workflows and business processes. Imagine the level of productivity and growth they can achieve with workflow automation and streamlined processes!
Small business owners are under constant pressure from low revenue streams, rigid budgets, and finite resources. Regardless of the fact that the main objective of these companies is to reduce expenses and labor costs, they still find it incredibly difficult to deal with the initial cost of investing in this same result.
Workflow Automation areas for SMEs
Small businesses today face the threat of falling behind their competitors if they fail to automate routine processes. Today, technologies such as enhanced computing power and robust networks are being developed on a massive scale. Now it has become more than easy for SMEs to implement automation solutions for their daily processes and manage numerous tasks among their workers.
Simply put, workflow automation solutions are no longer a luxury that only large organizations can take advantage of. Below are some of the most effective areas of automation that SMEs should consider as an investment for their future expansion and growth.
payroll solutions
Many small business payroll solutions simplify the process of automating payroll from scratch or automate the transition from another system. Employee payroll management is necessary for success. A payroll software solution from a trusted workflow management company will automate activities in areas such as:
• Payroll execution
• Payroll tax management
• Compliance with existing payroll laws and guidelines
Staying away from such a solution will only lead to more expense and a waste of time and resources that you can implement elsewhere. It’s no wonder that nearly 40 percent of SMBs find tax and bookkeeping to be the most frustrating and time-consuming parts of owning a business.
Benefits of Payroll Automation
Many small business owners spend endless time managing employee scheduling to ensure they have sufficient coverage. Payroll systems offer features that make it easy to automate scheduling based on individual employee data. You can also integrate the software with systems that monitor workers’ paid time off, sick leave, and vacation days. Its effectiveness lies in the fact that the reporting functions are filtered to each user.
The importance of reliable payroll software becomes more pronounced in certain scenarios. For example, you may be completely comfortable with viewing data from employee reports, but still find workers with inquiries on payday.
Payroll automation is a comprehensive solution for SMEs, manageable from a mobile device. Allows homeowners to monitor things when they’re on the go.
Automation to improve team collaboration
Teamwork is at the heart of any business. Smooth interaction between team members is critical to sustained success. Workflow automation solutions like the project management dashboard allow teams to monitor the progress of their work together. Many cloud-based solutions also work well with remote team members.
There is also room to engage in more confidential activities such as signing contracts, discussing acquisitions, investments and negotiations. Many software solutions can create “virtual data rooms” that protect sensitive information. Collaboration tools with such a feature can manage features such as access control and print permissions and impart granularity that lets you decide who can make changes.
marketing automation
Automating your workflow is perhaps the technology best practice you can implement to improve productivity. Following recent trends, automation could be just what your organization needs to overcome the decline in productivity across the market.
With the prevalence of online marketing, SMEs find themselves in no shortage of marketing options. Fortunately, the trend is being complemented by an equal, if not greater, increase in the number of marketing automation options. Marketing automation gives marketers the ability to build one-to-one cross-channel journeys that deliver consistent, connected customer experiences. It involves providing the right content to the right customers at the right time, thereby building their trust.
Customer Service Automation
Today, the customer is king. Fostering a bond with customers is a crucial priority for managers and their staff. At the same time, there is no escaping the fact that providing excellent customer service can be quite taxing on the limited resources of an SME.
The best way to achieve quality service is to simplify this function through a customer relationship management (CRM) solution. They collect and manage customer-related information and interaction. By leveraging such a solution for themselves, SMBs better align with customer needs and provide personalized recommendations based on the customer’s history with your organization.
As you can see, the benefits that SMBs can reap by leveraging workflow automation are endless. Improve collaboration, reduce overhead, increase productivity, and free your team to focus on innovation and creativity. However, it’s wise not to view workflow automation as a silver bullet for all business concerns. You should think carefully every time you implement such a solution. Go back and take a moment to analyze your workflow and then find the solution that helps you manage it in the best possible way. Contact Ezofis to get all the benefits of workflow automation.
