Business Automation And Productivity
As technology advances and business leaders continue to pursue competitive advantages, the minimization of human input through automation has risen to become a trending topic in the business world. Automation technology is more accessible to small businesses than ever before thanks to rapid developments in machine learning and hardware capabilities. Although these new tools may be intimidating at first, the benefits associated with their adoption undeniably outweigh any initial struggles. Additionally, extensive documentation and resources are available to support both novice users and information technology professionals alike.
So what automation tools are available for your business? And how can your team fully take advantage of these tools?
Finance
The most obvious benefit to automating financial processes is saving time. Common financial workflows are time-consuming and mindless, making them prime candidates to be automated. Precious time can be saved by utilizing automation and completing these tasks in bulk. Another benefit to automation in this department is the lessening of human error. Removing human input from a function eliminates typos and instances of missing data, which avoids wasted time and improves accuracy. Furthermore, automation ensures that workflows and processes are consistent. Predictable and pre-programmed processes phase out any discrepancies resulting from work done by different people at different times.
Quickbooks supports a number of automated functions to streamline many accounting processes. For example, schedules can be built to automatically send recurring invoices to customers and charge credit cards for recurring payments. Many financial functions are completed on a predictable schedule which further supports the case for them to be fully automated. Paying bills, managing payroll, and pulling financial reports are all ideal examples of tasks that can be made more efficient and accurate through automation.
Recruitment
Many human resource professionals can attest to the high costs of turnover and the subsequent hiring process. Studies have shown that U.S. employers typically spend about $4,000 and 24 days to hire a new worker. The recruiting process involves time-consuming tasks such as advertising the position, screening candidates, conducting interviews, and training the new hire. Additionally, while the position is vacant, productivity will obviously be affected. Clearly, since turnover is largely unavoidable, it is in the best interest of any business leader to streamline their company’s recruitment and hiring processes.
Fortunately for today’s hiring managers, there are many tools that exist to reduce hiring time by automating many tasks associated with the hiring process.
First, job sourcing becomes significantly easier when utilizing automation and AI technology. Job postings can be automatically circulated to various job boards, which saves a significant amount of time. Additionally, these automated job posting tools typically allow hiring managers to update job postings across all sites, increasing overall flexibility. Data analysis technology driven by AI can also tell managers which job boards deliver the best candidates.
Next, automated systems can assist in initial candidate screening. Assigning the task of evaluating candidates to screening software ensures that each resume is properly scrutinized. This is an especially important benefit in the case of high-volume roles; many hiring managers will not have sufficient time in their workday to pore over endless stacks of resumes. Furthermore, selection via hiring algorithms can result in higher quality hires without bias.
Lastly, as the hiring process progresses and candidates move through each key stage, messages to candidates can be fully automated. For example, reminders concerning interviews and start dates can be automatically sent to candidates when applicable. These automatic notifications also ensure that rejected applicants are not “ghosted”. Other opportunities that may be a better fit for the applicant can even be included in these messages.
Task Management
Collaboration within teams is easier than ever before thanks to modern task management software. Productivity applications such as Slack and Trello simplify project management and keep team members on the same page.
In the case of Trello, tasks are converted into cards which are then organized on workspace boards. These boards allow team members to easily keep track of tasks and the progress that has been made on these tasks. Trello is also capable of saving users’ time by automating repetitive tasks. For example, when a task is marked as urgent, users can build a rule to move it to the top of the list, notify members of the workspace, and set the due date as three days after initial creation. Managers can also be automatically notified once tasks are done to further simplify communication.
Security
In a business environment that has become so reliant on technology connected to the Internet, the widespread prevalence of cyber-crime should not be a surprise. Hackers are always on the lookout for vulnerable systems; unsecured databases have led to notable data leaks and ransomware incidents across all industries.
A number of powerful AI-powered security tools exist, but the automated service that is most easily applicable for typical users targets one of the most common vulnerabilities for any given system – passwords. Password reuse poses a serious risk to user accounts because of increasingly frequent password database leaks. Maintaining one password for all accounts means that only one leak is needed to compromise every single account. But how are users expected to memorize so many different and (hopefully) complex passwords?
Thankfully, password managers have emerged as a way to easily secure any current and future accounts. Instead of users having to memorize a password for each of their accounts, they create one high-quality password for their password manager. The manager will then automatically store current passwords so that the user will not need to remember each one themselves. Furthermore, whenever a new account is created or a password is updated, the password manager will offer to create a complex password that the user does not need to remember. As a result, users are able to protect their accounts with sophisticated passwords without fear of forgetting them.
Conclusion
It is impossible to avoid all challenges associated with managing a successful business, but adopting modern automation technology certainly makes it easier. Virtually all aspects of business management are encompassed by automation software; payroll, human resources, and security are just a few departments that can be supported by automation. Save time, money, and effort by staying up-to-date with current technology trends and developments.
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