The facts speak for themselves more than anything else. Irregularities in leads management cost companies approximately 1 trillion dollars every year. And bad data invites losses of over 3 trillion yearly. 75 billion dollars are lost due to poor customer service. All of these things can be avoided by using a Business Process Management System.
All of these things can easily be managed with automation, here are some of your business operations, that can be handled accurately and efficiently using a Business Process Management System:
Recruitments are a fairly straightforward task, and yet they are prone to mismanagement more often than not. To avoid any distractions and ensure a thorough verification and approval process: you can set up standardized compliance automation.
This can be done right to the point of picking out lengthy forms before interviews or just to manage the flow of the recruitment process. Either way, it will save you time.
Compliance with legal issues and policies requires complete accuracy. Whether it is during onboarding, or initiating invoices, every business is subject to policies. No matter which industry you work for, the need for consistent processes is inevitable in order to ensure that your business complies with the rules and regulations of your industry with minimum cost and stress. Choosing the right business process management tool will make it effortless for you. Workflow for compliance comes with structured phases, pre-determined participants on each phase, a set of checklists on each phase and status for each task, which makes it easier to eliminate potential bottlenecks.
Although onboarding is a repetitive process, yet it can consume a lot of effort. Onboarding can be thoroughly automated and simplified with a process management tool.
Setting up introductory channels of communication, and a virtual guiding system for the first few months can be a huge burden lifted. Moreover, workflow automation can smooth out onboarding not just for your new recruits, but even for your new clients.
Most businesses like to keep track of their daily expenses, and this is an impossible job if done manually.
Tight Budgets + Excessive Spending = Perfect Recipe for Disaster With a simple expense management software, users can upload receipts and managers can approve them in one click, removing the need of back-and-forth email replies. Imagine how productive your managers’ day can be if they get notified of every expense and can keep a check on the budget- all this without stressing out.
Nothing is worse than filling out those timesheets as a hardworking employee. It’s one thing to reflect on the day, and totally another to give a minute-by-minute recount of what happened.
With a time tracking software, employees get automatically tracked for the work that they are doing. Not just based on time, but also because of productivity. A process management system lets you track time spent by your team on every task they take up and gives them a way to track their own progress. All in all, it makes everyone on the team accountable for the result, thereby furnishing effective cost control dashboards.
Automate Payments & Ease Accounting Services
Every business, no matter how big or small has some recurring payments or other monthly expenditures. With an invoicing software, businesses can easily automate such payments and avoid wasting resources on invoice generation.
Not just this, for each task, a workflow management tool can offer you a complete log report with timestamps. That’s the minimum to expect from an automated process. With this log you can review the actions taken on a particular task, like time spent by each collaborator and the respective cost. This will not only ease out the accounting process but also bring invoice transparency.
From budgets to payroll, accounting handles everything finance. And, they have to be accurate no matter what. When this is the case, setting up software or multiple tools for accounting is a must! From invoicing software to bookkeeping software, accounting can save you both time and money.
Manage Multiple Functions
Even if you are a one-person business, there are many functions that you need to handle. There is HR, IT, Accounts, Customer Service and many more caps that you’ll wear. Keeping a track of all of these with a management solution will keep you posted on everything that is happening. And a workflow management software takes charge of the flow and health of operations throughout departments.
When there are a multitude of tasks to be completed, prioritizing, and managing them becomes difficult. Given the fact that task management is the secret to task completion, doing all the management manually becomes laborious. On the other hand, a project management system makes task management easy and time saving. It helps you prioritize tasks and manage them all without breaking a sweat.
Resource Allocation Automated
The biggest challenge while allocating tasks is to ensure the deadlines are met and the team performs as per the schedule. With a good business process management solution you can define timelines clearly as per the scope of each project. This in turn would give your team a perspective of how much time to spend on each task and you can track, control each phase of a process. This is the ease of process management!
Ensure Thorough Analysis
No matter what you are doing, and how you are performing as an organization right now, you can do one better. And that is why most large businesses set up a culture of revaluation. With process management, you collect a lot of useful data about your business operations. Reports and analytics on this data can help you figure out where you are lacking and what you should focus on.
Make your clients happy
Customer support isn’t easy, in fact, it is one of the hardest aspects of business operations. The best way to earn satisfied clients through your work is to include them in the workflows. With a process management solution you can add your clients and let them review progress, be a part of the work process with minimum hassle. Nothing can make a client happier than being able to track day to day work. Not just the client’s trust, it earns more recommendation to a business.
Prime Customer Service Experience
Once you have a smooth workflow in place within departments and customer support and success teams, managing customer service is a cakewalk. The customer not only gets the basic solutions but can easily approach the experts within your business.
Regardless of your business sector, having a process management system brings immediate benefits.
In addition to saving time in the analysis of profitability, in the analysis of the performance of resources and allowing to see clearly the areas where the business is profitable, it also ensures the objectives are achieved as outlined initially.client onboardingcustomer serviceexpense managementtime trackingworkflow management system