November 25, 2024
It’s hard to overestimate the importance of efficiency! But businesses deal with a constant flow of paperwork that can slow down productivity. This is precisely where document automation comes in! So if you’re considering implementing it? It’s a great leap forward in terms of digital transformation.
That said, proper implementation requires some planning. In this blog, I’ll explore what to do and what not to do and provide some real-world examples of great use cases for automation.
Adding Automated Document Processing: What Not To Do
If you were to try to get the least amount of ROI possible from adding automated document processing, here’s a surefire way to go about it:
- Automate your existing inefficient processes as-is and all at once
- Assume everyone will just figure it out
- Don’t clean up your data first
- Choose a tool only based on price
- Ignore security and any regulatory requirements
- Go live without any testing
When you list it out like this, it seems ridiculous that any business would implement document automation this way. But you might be surprised. And if any part of you thought, “Well, what’s the worst that could happen?”, let’s go there next.
When Workflow Automation Goes Wrong
If your data isn’t clean, your processes are inefficient, and your employees don’t use your new software much, that’s a waste of time and money. But if your system isn’t properly tested or maintained, you could also see frequent crashes and disruptions to your core business operations. And if your system isn’t properly secured, your data could be vulnerable to cyberattacks.
So here’s how to get it right the first time.
Document Automation Best Practices
2 out of 3 knowledge workers say automation has helped them be more productive, and the average savings for organizations using workflow automation tools is $46,000. Document automation tools can be a game-changer. So here’s how to make the most of them.
1. Choose the Right Document Automation Software
You’ve got some great options with software, but you tend to get what you pay for.
Template-based systems are great if you only need to process basic, structured documents like contracts or invoices. Want to process physical documents in a variety of formats and use unstructured data? Then you might need software with optical character recognition (OCR) capabilities.
Either way, make sure your software will integrate with your existing CRP, ERP, or other document management systems.
You also might want to consider:
- What degree of customization do you need now and in the foreseeable future?
- What document types and formats do you need your system to handle?
- How many workflows and documents per month would you like to automate?
- Will your platform need to accommodate complex processes?
- Do you need to comply with any regulatory requirements?
- How important is user-friendliness?
- What happens to your data if you need to switch platforms later?
- What are your expectations regarding technical support?
2. Assess Your Data Accuracy and Quality
If your data contains errors and inconsistencies, so will the documents your software will produce. Make sure that the data you intend to use is standardized and up-to-date.
3. Change Management and Training
Implementing document automation will affect some departments more than others. Just like with any other big changes, careful and thorough communication about what’s changing and what isn’t, and the benefits it will bring can make a big difference with adoption.
Your team will also need to know how to use your new tools and troubleshoot issues. Ideally, they’d also help you find more ways to automate workflows over time. So provide plenty of time for engaging and thorough training.
4. Start Small and Smart
To get started, look for high-volume, predictable, repetitive processes involving standardized documents. Think contracts, reports, or invoices. Just don’t bite off more than you can chew. These new tools will take some getting used to.
5. Add Slowly and Keep Optimizing
As your teams get more comfortable with your tools and you start seeing clear benefits, it’s time to add more workflows. And remember, just because you’re putting some processes on autopilot doesn’t mean you should go there too. Remember to keep looking for ways to make your system more efficient over time.
Intelligent Document Processing in the Real World
Need inspiration? Here are some time-consuming tasks for a variety of different departments that can be automated:
- Your sales department could breeze through creating customized proposals with a system that integrates with your CRM
- Accounting could automatically generate statements, invoices, and more, thanks to another integration with their software
- HR could automate onboarding and performance review documents
- Marketing could make it easier to churn out brochures, flyers, case studies, and product sheets
What’s the ROI of Document Automation?
You can find free trials or free versions of some document automation software. But a free version won’t get you very far. Many subscriptions are priced per user, per month, and many will set limits on the number of documents you can generate or workflows you can automate.
Very small businesses or solo entrepreneurs may be able to get by with a free version. Small businesses should anticipate paying something like $10–$50 per user per month. A mid-range solution may cost up to $200 per user per month, and an enterprise system could cost over $1,000 per user per month.
That may sound expensive, but remember, not every employee has to be a user, and you’re probably paying far more than you think with the processes you’re using now.
Here are just a few examples of savings that help offset document automation costs:
- Reducing employee hours spent on manual processes
- Minimizing human errors that lead to do-overs
- Not having to hire as many additional staff as you grow
- A reduction in print costs
- Reduce onboarding time
Of course, there are gains that are harder to quantify, but you can probably fill in the blanks. Manual, repetitive tasks are boring. Boredom, in turn, leads to frustration, lethargy, and has a negative impact on mental health and job satisfaction — which ultimately leads to higher turnover rates.
Document Automation Software vs. Enterprise Content Management
If you intend to do a lot of automation, you’ll also need to upgrade your cloud storage, organization, and retrieval capabilities. That could add to your costs, or you could consider a more comprehensive solution, like an enterprise content management (ECM) platform.
Depending on the platform you choose, your cost per user is only marginally more, but your ROI is often significantly higher. If you’re on the fence, you’re welcome to contact one of our ECM experts to run some numbers.
Getting the Best Deal on an ECM Platform
At Marco, we’ve partnered with M-Files and OnBase by Hyland to make sure we can provide elite support and best-in-class pricing for our clients. Perhaps best of all, implementation and ongoing are included!
We’ve partnered with each of these platforms for a reason — we’ve found that they tend to provide the most value for our clients over time. However, they have their different strengths. Click the link below to explore these two in more detail!
