March 8th 2023 11:00:00 AM
5 Reasons You Need Data Automation to Grow Your Business
August 3rd 2021 11:00:00 AM
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
- 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.
- 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.
- 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.
- 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.
- 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.