Long gone are the days of backlogged accounts receivable and accounts payable departments, cluttered with paperwork. Financial process automation removes the clutter, disorganization, and confusion of traditional finance and accounting paperwork.
Startups do things digitally. But companies that have been around for decades largely don’t. It seems impossible to believe, but 82% of companies are still paper-based.
“With all the lip service paid to innovation, it’s astounding that most businesses still use technology invented more than 2,000 years ago. We’ve entered the era of 3D printing, artificial intelligence, and missions to Mars — yet only 18 percent of companies consider themselves paperless.”
With cloud servers and apps like Monday, Trello, and Evernote replacing paper calendars, notebooks, and whiteboards, it seems crazy to think that less than 20% of all companies in 2020 operate digitally. Not so crazy, though, when you consider that computers weren’t even part of the office environment 40 years ago.
Let’s take a look at the brief history of paper to digital documentation and nail down when paper processes will finally go digital.
Getting time back due to improvements in a business process translates directly to higher profits, according to recent reports from Forbes. If your staff implements document and workflow automation, it ensures that you're able to expand your business globally.
Topics: business process automation
Companies across the marketplaces are now using business process automation software in order to maximize efficiency and improve productivity across their organization. Within the manufacturing sector, the software has become commonplace and is now helping organizations reach new standards of performance. Our team at MESHDS has decades of experience in supplying business process automation software and in this latest post, we’ll explain more about how the software is used in the manufacturing sector.
Office automation can be something that a lot of businesses are reluctant to implement. This is because they assume that they are going to need to replace staff members. Then, employees worry because they fear that they are going to be out of work because of all these changes that are coming into play because of tech developments. However, automation is not about replacing staff with software. Instead, it is about streamlining daily tasks so that your team is able to focus on those problems that technology is not able to solve. With that being said, in this blog post, we are going to take a look at how automation is going to change employee roles.
Accounts receivable automation is changing the way companies do business. It’s freeing accountants from their need to chase customers and source invoicing data and allowing them to support the company in more profitable areas.
Days sales outstanding (DSO) is a calculation designed to estimate the average length of a company’s collection process. Reducing this timeframe and shortening the amount of time it takes your company to be paid can help benefit your organization in a number of ways. This blog will focus on DSO elements that you might not have considered and explain ways to reduce DSO for your organization.
According to a recent study, over 80 percent of organizations feel that a digital transformation is necessary to prevent upcoming disruptions to their business models. One of the main keys to digital transformation is adopting business process automation, but not everybody knows how to get started with this. Today you'll learn how enterprise content management (ECM) software can help you tackle business process automation and help you safeguard your organization against future disruptions.