A smarter digital future

For every business, working smarter and not harder is the ultimate goal. The obvious question, then, is how can small and medium businesses make digital decisions that lead to this outcome?

Optimising and automating key areas of your operations can improve efficiency, reduce errors, and free up valuable time, allowing you to focus on strategic activities that drive growth.

But as more businesses navigate digitising and automating their business, it’s critical to know the difference between good and bad process implementation.

And it’s just as important to understand the value of a business management platform approach to workflow automation.

How to implement workflow automation

It’s important to avoid a piecemeal approach to workflow automation so you don’t end up with a plethora of point solutions that don’t integrate well with each other. Disconnected systems cost businesses:

• Financially in software subscriptions and integration costs;

• Strategically in missed insights, with the systems not “talking” to each other; and

• In lost productivity, with too much time spent on manual workarounds.

The best way to implement workflow automation is to choose a business management platform that brings all your key workflows together in one place.

This way integration is seamless, user adoption is quick, and workflow automation across functions can give your business transformative efficiency and productivity gains.

Manage your key workflows in one place

Automation drives better business outcomes as it does exactly what it’s configured to do, without the risk of human error. For your business this may mean:

• Better customer service

Workflow automation software can track all customer interactions, helping agents better serve your customers. Customers won’t have to repeat information they’ve shared in previous interactions, and agents can refer to past conversations to demonstrate that they’re paying attention.

• Cost savings

Automating simple tasks saves time and money. Once you’ve set your “if this, then that” business rules, tasks can move forward with little to no human input. For example, you can auto-approve supplier invoices or employee time sheets if they meet certain criteria, or route them for approvals or exception management if they don’t.

• Greater visibility into operational performance

With workflow automation, you don’t have to ask team members about the status of tasks — you can just access your dashboard to see what’s happening across the business. You can also run reports to see how you’re performing in key areas, such as in managing your inventory, resolving support tickets or completing projects on time.

• Improved accountability

Your workflow can route tasks to individuals, send reminders and notify others if action items are not completed within a set time frame. This sets accountability for deliverables, making sure things get done so your business can continue to run smoothly.

The MYOB business management platform

Looking for seamless automation? The MYOB business management platform manages your key workflows together in one place and caters to the diverse needs of small and medium businesses.

1. Efficiency and productivity: Seamlessly integrate and automate key workflows across your business — from managing your customers and employees, to overseeing your supply chain and projects, to taking care of your finances, accounting and tax.

2. Real-time insights: Get real-time financial data, enabling informed decision-making. With analytics and reporting features, businesses can monitor their performance, identify trends, and make strategic adjustments.

3. Seamless integration: Create a central platform to manage your business, reducing complexity and boosting efficiency. Manage your key workflows all in one place, giving you a complete picture.

4. Scalability: As your business grows, MYOB grows with you. Scalable features can accommodate businesses at different growth stages.

5. Security: A reduced number of applications means fewer potential entry points for hackers and a smaller security risk profile. MYOB uses advanced encryption and multifactor authentication to keep your sensitive business information safe.

Automating and streamlining all these areas (and more) can improve your operational efficiency and help you achieve better results. Remember that the goal of automating key workflows is not to replace human involvement. Rather, it’s to free up time so you can focus on strategic activities that drive growth and customer satisfaction.

Not all automation is created equal

While automation provides numerous benefits such as cost reduction, improved efficiency, and greater accessibility, it’s also essential to tread wisely to ensure your business realises the potential payoff.

Your future success is not just about embracing the digital future. It’s about doing so to add value, improve efficiency, and create an experience for customers that keeps them coming back.

Automating your business is a marathon, not a sprint, and an ongoing piece of work as you grow and evolve.

Remember, digitising is not just about adopting apps and software. It’s just as important to do it well to drive efficiency, profitability and growth.

Talk to your accountant or financial advisor, or MYOB, to understand how to automate the right way.

Capricorn Members pay for one month and get six months of MYOB FREE*! Limited time only! Head to cap.coop/MYOB to learn more.

*Capricorn Members (including trial Members) only. Existing MYOB customers not eligible. Offer: Pay 1 month MYOB Business Pro or Lite base subscription and receive a further 6 months base subscription free (during which fees for Premium Features apply). Offer ends 1 May 2024 unless varied by us. Capricorn will earn a referral fee for any referrals of Capricorn Members taking up the Offer. Other exclusions and full terms and conditions visit cap.coop/MYOB