Businesses Benefits From Process Automation with MYOB Advanced
Business Process Automation (BPA) allows companies to automate daily, time-consuming tasks through software systems. It allows employees to spend more time adding value through creative tasks and innovation. By investing in a Enterprise Resource Planning software (ERP) with inbuilt BPA, it will reduce the overall cost of running your company.
MYOB Advanced is a “born in the cloud” ERP software solution with inbuilt BPA. The benefits from having an ERP solution far outway having multiple systems to handle the core business processes.
Consolidated data for easier reporting and sharing of information between departments, increased efficiencies, decreased costs and streamlining of business processes are all benefits that come to mind for having an ERP solution.
What benefits can I expect?
With BPA, companies can expect rather noticeable time savings, which naturally leads to lower operating costs. This is achieved primarily through reduction in handling multiple sets of data (as there is just one database with an ERP solution). An obvious by-product of having one database is the elimination of processing errors and having trustworthy data!
Through the MYOB Advanced core automated processes, the system encourages interaction between departments and provides enhanced data analytics in real time. This allows the business to improve their business decision making. Making more educated decisions faster and not going by “gut-feeling”.
Some Benefits from Process Automation with MYOB Advanced.
Through process automation within MYOB Advanced, business productivity will increase. The software introduces structure and best practice rules that help transitions a business to be more efficient and streamlined.
MYOB Advanced automation processes reduce an employees requirements to handle data across multiple system as all the data is within a central software solution. Data only needs to be entered once. The software then handles the appropriate workflow of that data across relevant areas of the system. Workflow can be “out of the box” or, can be customised via its highly configurable workflow engine. An example of customised workflow, a sales order on creation can be setup to automatically generate multiple purchase orders, by supplier, for the items that need to be purchased to enable the sales order to be fulfilled. Pretty neat!
The automation process also allows communication with ease across roles and departments, thus increasing productivity and visibility within the business. One example is an employee portal, which manages employee leave applications. If the Human Resource department were to manage leave manually, it would be time consuming on all departments. Whereas, having an automated process around leave applications will allow ease of communication between the employee, management and the Human Resource department, whilst also reducing the time spent around in a paper/email/spreadsheet-based leave application process.
Another area in which BPA helps to increase productivity and collaboration between team members is around projects. Visibility of the project progress (income vs costs , tasks etc) ensures the project teams are up to date on its progress at all times.
Real Time Visibility
Automation processes within an ERP solution, like MYOB Advanced, provides a data set that is live and in real time. This means a single source of truth. Allowing a business to improve its reporting capabilities and data accuracy. Through MYOB Advanced customizable reporting features, a business can tailor reports to meet their specific reporting requirements. Because the reports are run directly from the system in real time, it provides fast and accurate insights to relevant stakeholders.
Another benefit of real-time visibility is that it allows deeper analytics. Imagine identifying a problem before it becomes a problem! Forecasting sales trends and pivoting on products and or services based on economic movements. It sounds like sorcery, but it’s not. It just comes down to data and the way you interrogate it. All businesses are sitting on a wealth of knowledge in the data that they collect (they should be), and deep analytics is available to everyone.
As MYOB Advanced has all the core business processes managed within one system, businesses will find that they can decommission or unsubscribe to many of their other software products that they are using. Data migration is possible via imports, and for the more complex data migrations – MYOB Advanced offers a robust API allowing software developers to build highly custom and advanced migration tools.
For the cases where not all systems can be decommissioned, building unattended and scheduled integration tools is possible (we should know, we’ve built many!).
A modern ERP system can eliminate repetitive processes. Take a simple task like entering a sales order. When it becomes time to invoice that sales order, the ERP system will automatically transfer the data from the sales order directly to the new invoice record at the click of a button. This process also reduces the multiple manual data entry requirements where users can miss key information, which can lead to incorrect reporting. While this is a very simple example of eliminating a repetitive process, the sky’s the limit really. We’ve saved businesses weeks per month by building clever workflows and integration services to automate repetitive tasks!
Investing in an ERP solution such as MYOB Advanced helps a company pave the way to become a more automated, streamlined and competitive business. The return on investment through increased productivity, accuracy, communication and real-time visibility will be a game changer to any business making that leap.