What is Workflow Automation?
Workflow automation is the process of automating manual tasks through software based on rule-based logic that enables enterprises to save time, reduce errors, scale efficiency, productivity, and accuracy. Enterprises with manually intensive processes can cut costs and enhance employee well-being through workflow automation.
The demand for workflow automation continues to grow as CXOs seek to streamline their workflows, increase efficiency, and reduce errors. Per Acumen Research, the workflow automation market is on a steady rise and will reach $78.81 billion by 2030.
Let’s take a closer look at workflow automation and explore how it can help businesses.
Workflow Automation: Definition
The use of software to automate repetitive or routine tasks is referred to as workflow automation. Automation tools include a wide range of technologies, such as artificial intelligence (AI), machine learning (ML) and robotic process automation (RPA).
These tools can be used to automate tasks such as data entry, file transfers, data processing, and report generation. They can also be used to automate more complex tasks, such as customer service, human resources, and supply chain management.
Workflow Automation: Benefits
- Increased Productivity
A significant advantage of enabling automation is increasing productivity by eliminating repetitive manual tasks. When employees are freed from these mundane tasks, they can focus on higher-value work that requires critical thinking and creativity. As a result, businesses can see an improvement in overall efficiency and output.
- Reduced Errors
Workflow automation helps reduce errors during tasks, for example, manual data entry into a system such as CRM, HRIS, ERP, or importing data from Excel files. By automating these processes, tasks can be completed with greater accuracy, reducing the risk of errors and improving data quality. This can result in better decision-making and helps continuous process optimization.
- Improved Compliance
Compliance is essential to any business, and non-compliance can result in costly fines and legal action. Workflow automating compliance-related tasks, such as data entry or reporting, helps to ensure that all regulatory requirements are met.
Automation plays a crucial role in digital transformation and reduces human error risk, ensuring compliant workflows.
Workflow Automation: Use Cases
Workflow automation is used widely across a range of functions such as finance, IT operations, sales, marketing and HR to automate tasks or set and automate workflows for teams.
Here’s a look at some of the use cases.
Automating data entry and processing tasks can save time and reduce the risk of errors in the finance function. For example, enterprises can leverage workflow automation to extract data from documents, such as invoices or receipts, and automatically input that data into a database or accounting system.
- Human Resources
Workflow automation also streamlines human resources tasks, such as employee onboarding, time and attendance tracking, and performance management. By automating these processes, enterprises can reduce the time and resources required to complete these tasks, enabling HR teams to focus on more strategic initiatives.
For example, workflow automation software streamlines employee onboarding by automating the collection and processing of new hire paperwork, assigning required training courses, and setting up new employee accounts. Workflow automation software can also simplify time and attendance tracking, ensuring that payroll and benefits processing is accurate and efficient.
- Supply Chain Management
Workflow automation is an effective solution for optimizing supply chain management tasks, which can be complex and time-consuming. Businesses can speed up their order fulfillment process and reduce errors by making processes intelligent. Automation can also help optimize inventory management by providing real-time insights into stock levels and automating reorder processes when inventory levels reach a certain threshold.
In addition, automation can help streamline shipping processes by automating shipping labels, tracking information, and other documentation. This can help businesses save time and reduce errors associated with manual shipping processes.
Scale Workflow Automation through Scout® work graph
Today, more than 60% of the workday is spent on unstructured interactions in documents, emails, communications, custom applications – outside of ERP, CRM, and other systems of record.
This massive unstructured and undocumented interaction dataset between people and software is untapped and contains a goldmine of insights that could give a significant competitive edge to enterprises.
Organizations can unlock this data source through Scout®, powered by the world’s first work graph platform, and unlock multiple opportunities to automate their workflows and streamline unnecessary variations of work.
To get started with Scout®, click here.