At the rate technology is going we can envision a future like we saw as kids in the animated show, The Jetsons, where George Jetson merely had to push a single button now and then.
Is your business benefitting from automation tools as much as it can? You might be surprised to know what business processes you can automate.
Stocktaking is tedious and time-consuming, but it also doesn’t have to be done manually. There are several tools that can streamline the whole process, helping you keep track of your business in real time. For instance, an inventory system manager such as Wasp Barcode, which is especially useful for retailers, manages your inventory and syncs your online business.
Receiving and making payments
You can use debit order systems to not only make payments to your employees or suppliers, but to also collect payments from your customers. This saves you time on invoicing, paperwork, and helps avoid discrepancies or unpaids.
Nobody likes admin. Especially not admin that is as tedious as data entry. While data entry isn’t usually particularly difficult, the point is that it still takes up a lot of business resources, such as employee hours that could be better used elsewhere. Something like Shoeboxed however will scan and organise your receipts, invoices and documents securely online for you. You simply send in your paperwork to be automatically analysed and have the required data extracted. Not to worry though because the key fields for accounting and taxing purposes are still human-verified.
There are a number of IT processes that you can automate, like software testing, data transfers, generating and distributing reports, data backup, monitoring systems and rectifying system problems and outages.
We bet you didn’t know that you can automate your budget. A well-planned budget (that you actually stick to) is a very important component of running a business. You Need A Budget (YNAB) will help you manage your business’ money, letting you know how much money is going out and coming in at whatever point. There is therefore less chance of overspending, you always have a good idea about your business’ financial situation, and you can easily manage your cash flow.
Staying on top requires being as efficient as can be. Automating components of your business is one way to do this because you free up resources, streamline your processes and reduce human error.
It’s a brave new world. Welcome.