5 Reasons You Need Data Automation to Grow Your Business

August 3rd 2021 11:00:00 AM

You deal with all types of data in business. It is not a bad thing; the same situation applies to all business owners and managers. Data is a valuable tool. To make it work to your advantage, you need to be able to manage it through data automation.

When we are discussing data automation, it means uploading the data to your system. When data is input manually, there is a risk of it being out of date. Humans can only input data at a set rate. Data entry is usually one of several tasks an employee must complete as part of their duties.

Elements of Data Automation

The three elements of data automation are as follows:

• Extract

In this process, the data is pulled from one or more sources.

• Transform

During this procedure, the data is converted into the desired format, such as a CSV file. It includes functions such as changing abbreviations into full versions of a term within a file, sorting and filtering the data while preparing a report, etc.

• Load

In this part of the process, the data is loaded into the open data portal (the database).

Automation of your data sourcing gives your business several benefits to keep it moving in the right direction. Would you like to discuss Scanco’s data automation options for helping you grow your business right now? Contact us online or call (330) 645-9959 to make an appointment with a Scanco Solutions Expert.

Examples of Data Automation

Source data automation uses automated methods for data entry as opposed to traditional methods. It relies on digital forms of data collection instead of manual ones. As a result, most of the effort, delay, and potential for human error associated with traditional data entry methods are eliminated.

Collect your company data on an electronic device, which will process the transaction. At this point, it will check the data for accuracy.

Some examples of data automation include the following:

• Bar code scanners
• The magnetic stripe on debit and credit cards
• Touch screens
• Voice recognition systems

5 Reasons Why you Need Data Automation to Grow Your Business

1. Saves Time

Processing data can be very time-consuming for your team, especially if you have large quantities from several sources. The data has to be standardized and validated before uploading it into your computer system. These steps take time. In the meantime, there is a lapse where other employees and managers do not have updated data when making decisions.

Automating the data saves a lot of time while increasing the reliability of the uploaded data.

2. Improved Scalability

Data automation means your team has the option of making changes to the data at the source level to be reflected throughout the entire system. Manually making updates to a database would take a considerable amount of time and expertise. You would also need to contend with the probability of human errors in the process. Automating the process using a drag-and-drop option to make changes reduces this possibility.

3. Greater Data Visibility

Many businesses struggle with how to handle all their data. They may store their data in multiple places, such as:

• In silos
• In the cloud
• On their premises
• In systems owned by their business partners

The issue may be further complicated because there isn’t a specific person in the company who supervises organizing and uploading company data.

Data visibility is about making data available to the right users at the right time. Companies with poor data visibility may be exposing their data to their competitors. They may also be unknowingly making their business non-compliant with regulations.

4. Supports Supply Chain Management

Once a company becomes comfortable with automating its CRM (Customer Relationship Management) and SCM (Supply Chain Management), it can deploy the capture capabilities in these software programs. At this point, the software will locate relevant data from invoices, emails, and contracts.

This function ensures the company can track everything from raw material levels to labor for different projects. The company will have records of the orders placed. Data automation makes it much easier to determine the company’s production requirements quickly.

5. Better Forecasting

Accurate forecasting is crucial to driving business growth and profitability. These predictions are used to guide managers when making informed decisions for the company. From a management point of view, the forecasts can often bring potential issues to light before they happen. They can also point out opportunities to boost sales.

Data automation means data collection times will be shorter and more efficient. Once collected, the data should be stored in a centralized location that is accessible to everyone. Planning and forecasting are functions that should be performed automatically. It is not recommended that this function be performed manually due to the potential risk of inaccuracies. Managers can monitor and measure sales with ease when they have access to real-time data. They can make changes to the quarterly plan as necessary to meet the company’s stated goals.

Scanco OPS for Sage Intacct Lets You Track Anything

Scanco OPS for Sage Intacct gives your business the capability to track the data you specify. Choose specific data from your accounting, finished goods, inventory, or time and materials systems. Scanco OPS seamlessly integrates into Sage Intacct to gather data from your work orders, labor schedules, production schedules, and more.

With Scanco OPS for Sage Intacct, your team never has to enter data twice. The process is automated, which saves time and money. The risk of errors is greatly reduced. Your team can access the data immediately, in real-time. The best part about this solution is that it is completely customizable to suit your business’ needs.

Would you like to discover more about Scanco’s data automation options for helping you grow your business? Contact us online or call (330) 645-9959 to make an appointment with a Scanco Solutions Expert.