Benefits of Back Office Transformation
Unlock the true potential of your operations with back office transformation using artificial intelligence.
Add value to your operations today with workflow automation, business intelligence, searchable enterprise knowledge, virtual personal assistance to further streamlining your process and increase the profitability of your enterprise.
The cost of back office is often overlooked, and as a result, companies are losing money in one of their most utilized areas. Manual back office management comes with its own set of costs, most notably the cost for people. Automating back office duties creates an opportunity to save money on labor costs.
Digitizing, automating and optimizing document workflows reduce costs by more than 35%, say respondents to IDC’s Content Intelligence: For the Future of Work report. They reduced the time spent on document-related tasks by 17% and reduced errors by almost 52%.
This also allows for fewer errors associated with manual data entry and other administrative tasks within back office management. It will also save money lost from customer dissatisfaction due to back office discrepancies. The costs add up between labor and error, creating a financial deficit for companies.
While most productivity improvement initiatives are focused on the front lines, such as increasing top line revenue or compressing expense to your vendors and transporters, there is a huge opportunity missed when all new innovation is centered around back office transformation to significant cost saving. Here are some technologies available to be implemented in logistics companies and departments to immediately make an impact on operating costs of the back office.
Workflow Automation
Workflow automation is a process that increases the efficiency and productivity of manual work by automating as much of the manual process as possible. Since it is impossible with today’s technology to completely automate business processes, the smart businesses of today are focusing on workflow automation to:
Increases competitive advantage by removing redundant tasks and speeding up to results
Guarantees more reliable information throughout the business process
Ensures the right information gets to the right people at the right time
Provides detailed and step by step visibility into current status of workflows and tasks
Workflow automation transforms procedural inefficiency into optimized operations and allowing business leaders to focus on key business goals and strategies.
Business Intelligence
While data is the lifeblood for many successful organizations, others are still in a journey of digital transformation. In today’s world – where data is constantly generated, sent, and received – harnessing and leveraging it in ways that drive business forward can be a massive undertaking, but extremely beneficial when the reports and dashboards are well done. Operational managers and decision makers can get the information they need quickly, empowering them to make data-driven decisions. Other benefits of adopting the use of business intelligence can be:
It removes all guesswork or gut-feel decisions
Gives you quicker responses to your business-related queries
Gain valuable insight into your customer’s, vendor’s or even internal team behavior
Find out what your real costs are and where you are spending them
Gain a better understanding of your business’ past, present and future.
Many organizations find success by adopting the use of business intelligence to improve profits, reduce operating costs, and pledging a commitment to creating a data culture.
Searchable Enterprise Knowledge
Making Enterprise Knowledge searchable like Google is a common requests but difficult to achieve. No matter how great your enterprise search solution, search only “works” if the content is well-structured and your metadata is accurate.
SearchYourCloud’s survey reveals that “It takes workers up to eight searches to find the right document and information, according to 80 percent of respondents.” Another study from McKinsey shows that “The average interaction worker spends an estimated 28 percent of the work week managing email and nearly 20 percent looking for internal information or tracking down colleagues who can help with specific tasks.”. That means an average employee spends nearly 1.8 hours every day for searching information.
AI can be leveraged to more efficiently structure that unstructured content and to improve metadata accuracy – thereby making your content more searchable.
AI-Powered Virtual Personal Assistance
Virtual Personal Assistants (VPA) are software program meant to interact with an end user in a natural way, to answer questions, follow a conversation and accomplish different tasks. Two kinds of inputs are usually possible for a VPA: a voice interface (such as Apple Siri) or a text interface (Google Assistant). The key point is that the end user is supposed to be able to talk to the VPA using his natural language, that is, as he or she would do to another human being rather than having to use specific sets of commands or a computer language.
The benefits of implementing VPA to support business operations are many:
Capability to perform tons of routine tasks simultaneously and more efficiently than their human counterparts
Available 24/7, never tired or take a vacation day
By integrating with workflow automation, this become a powerful support tool to accelerate operational efficiencies
While VPA is rapidly gaining popularity since the launch of Siri by Apple in 2011, these features and benefits of using a VPA in enterprise translate directly into cost savings and enhanced performance.
Unlock your full back office potential with Mely.ai for Logistics
Mely.ai for Logistics automatically and accurately extracts information from Commercial Invoice, Bill of Lading and other freight documents. With the structured data, it activates workflow automation including virtual personal assistance, provides searchability to past shipment details and can be used for analytics to provide business intelligence. With its hyperautomation technology, 80% cost saving and time saving can be expected by removing the manual data extraction and by optimizing logistics operations.
No time for new tech? Leave everything to us! Our experts will always be available to complement your in-house knowledge and build out turn key solutions you need to further optimize your operational efficiencies.
Click here to see a product demonstration with one of our Customer Success Representative.