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In today’s fast-paced business environment, time is one of the most valuable resources, yet one which many businesses are lacking.
From admin tasks to data entry, there are just some tasks which seem to take more time than others and before you know it, your days are bogged down by time-intensive and labour heavy tasks that take you away from innovating, strategizing and growing your business.
In fact, 60% of UK employees spend at least half a day each week undertaking low value tasks such as admin, managing IT issues, HR tasks, and answering emails.
Identifying these tasks and implementing effective strategies to save time can significantly boost productivity and efficiency. The good news is there is a lot of technology available to help you update your processes and eliminate some of these time-consuming tasks.
Accounts Payable (AP) is one of the most notorious time-consuming tasks within almost all businesses. A staggering 80% of finance leaders do not believe their current manual AP processes are fit for purpose and are not compatible with business growth, and when it takes on average almost an hour (50 minutes) to process a single invoice manually, it is not surprising they feel this way.
Leveraging technology to automate your AP process can save hours each week, reduce costs and reduce errors too.
Training employees to use tools and technologies effectively can lead to long-term time savings by increasing productivity and reducing the learning curve for new systems. Research has discovered that businesses with comprehensive training programmes can increase productivity by 37%. If employees feel they are learning new skills and progressing through the company there is likely to be increases in morale and retention too.
Every single year employees are wasting 360 hours alone searching for paper documents! That is a startling figure in an era that is becoming more digitised and paperless by the day. Introducing a digital document management system will streamline your filing processes and save significant time searching for relevant documents.
Decision making can take a long time, and rightly so, as it’s an essential and important part of any business. But what if you can get all the information you need but quicker? You could then make data-driven decisions in half the time! That is a reality with tools such as our Data Connector which integrates with third-party tools including Power BI, CoPilot, SharePoint and more, enabling you to make better quality decisions, with even more insight than previously possible, in a quicker time period.
Do your core business tools collaborate with each other or are you using multiple standalone products? Implementing a fully integrated solution that can manage all key business functions such as payroll, supply chain, financials and more, plus incorporate the latest technologies including AI, Automation and Machine Learning is vital to saving valuable time. You will spend less time communicating between departments and tools and eliminate bottlenecks.
Time-intensive tasks are inevitable in business and there will always be notorious tasks that just seem to take much longer than others, but these don’t have to hinder progress. By identifying areas of inefficiency and implementing smart strategies and tools, such as those outlined above, you can save valuable time and redirect efforts towards innovation and achieving your goals. Start small, prioritize high-impact changes, and watch your business transform into a more agile and productive entity.
We are here to help! We know the common challenges businesses face and have developed robust, award-winning tools to help. Take a look at our fully integrated Opera 3 SE ERP solution which incorporates AI, machine learning, robust reporting, AP Automation, Online Buying and much more. Please contact us today to receive a no obligation demo personalised for your business.
Posted On: January 16, 2025
