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Top 5 business processes you can optimize with Task Mining
In today’s fast-paced world, businesses want to be sure that their processes are well-orchestrated and manageable. Companies oftentimes acquire traditional manual process analytics to reach the positives. Unfortunately, it doesn't provide an objective and detailed visualization of processes, and what’s more - wastes time and money.
Task Mining offers the most detailed process visibility, and even the most efficient businesses find great economic potential through optimization or automation of manual tasks.
In this article, we collected the processes that you should pay attention to in the first place to unlock maximum business value for your company:
1. Finance management
The main goal of the Accounting and Finance Department is to ensure business accounting and working capital management go smoothly. However, inefficiencies can happen even in financial departments. Issues may come up because of manual repetitive actions like data entry and ticket sorting. The departments where such process issues are most widespread and frequent are Accounts Payable (AP) and Accounts Receivable (AR).
AP teams focus on ensuring that their company makes payments timely and accurately to maintain positive cash flow. The most common obstacles to productivity they come up against are late payments, missed cash discounts, and manual invoice data entry. These issues may not only complicate the business processes but also put relationships with creditors/suppliers at risk.
To avoid the worst-case scenario, AP-related departments opt for Task Mining, as the technology guarantees optimization potential that provides:
- timely payments,
- reduced duplicate invoice payments,
- better-managed Days Payable Outstanding (DPO)
In AR departments, in turn, the team ensures that clients make payments accurately and on time. In processes like this friction can be provoked by manual invoice creation, payment reconciliation, and repetitive steps in dispute handling and follow-ups. But by adopting Task Mining technology, tasks in ARs get more accurate, as:
- invoices become more error-free and get created timely,
- payment reminders are sent automatically
Though we only list issues in the processes of Accounts Payable (AP) and Accounts Receivable (AR), the range of financial processes is much wider and the types of issues that Task Mining can help you solve through optimization or automation are various.
2. Customer Service
When manual steps are optimized or automated, Customer Service processes will become more efficient and let your company unveil hidden optimization potential. The most productive task optimization is mostly conducted in contact centers, due to a large flow of tasks.
Contact centers handle customer service issues. They have a wide scope of functions and ways of communicating with customers: from emails to phone calls. However manual tasks in their processes may impede contact centers to achieve operational excellence.
With Task Mining adopted in contact centers, it is possible to see right through the problem, identifying automation points and achieving:
- reduced waiting times and delays in response times
- optimized case routing
- better task distribution across departments
Read the case study of Customer Service optimization and find out how Operavix Task Mining helped a telecom company get full visibility into the call processing tasks and save tens of thousands of hours through manual task automation.
3. Procurement
Procurement involves lots of actions within its processes, but one of the key areas for continuous improvement is Purchase Order Management. It allows companies to track purchase order from creation to acquisition. To make the core function of procurement work better, cutting-edge businesses go for Task Mining, finding potential for task automation and getting order processing and vendor communications optimized. As a result, procurement teams manage to achieve:
- automated routine tasks related to supplier interactions (e.g. payment reminders, manual data entry),
- reduced operational costs
Want to achieve more efficient procurement processes? Check out the Procurement optimization case study, in which a pharmaceutical business accelerated the procurement cycle by 17% and made substantial profits.
4. Supply chain management
The keystone of organized Supply Chain processes is Order Management, which goal is to monitor the whole logistic process from order creation to delivery. A well-coordinated order management provides correct and precise task execution across the department. However, repetitive manual workflows like order entry, inventory updates and low-stock alerts can complicate the process.
To make sure the Supply Chain function goes like clockwork, companies choose Task Mining that provides:
- errorless data entry,
- automated order processing and inventory tracking,
- more effective communication with suppliers.
Check out a case study on Supply Chain optimization with the help of Operavix Task Mining and see how task automation got supply chain processes accelerated by 20%.
5. Human resources
HR workload includes quite a number of strategic processes. Some of them still include a significant number of routine manual actions. Among these processes we can highlight Recruitment and Candidate Data Management as they have great automation potential. The processes include a wide range of actions spanning from talent search on job boards to application document collection. Within those processes, there are labor-intensive tasks with high automation potential like:
- copying and pasting data between job boards and HR-systems,
- uploading candidate documents to applicant tracking system (ATS).
With the help of Task Mining such time-consuming manual steps in HR processes can be identified and targeted for further automation. This approach to task analytics will help you achieve:
- reduced time-to-hire,
- enhanced candidate engagement,
- faster response times,
- lower operational costs.
Such results are achievable in your HR department with Task Mining. To see how mass recruitment process can become 19% faster, read a case study on Mass Recruitment optimization.
Found the process you’d like to optimize in your business now?
Visit our Solution page and discover more optimization potential for your business processes with Operavix Task Mining