How Effective Document Workflow Automation Saves You Time and Money

Document workflow automation can save businesses a world of pain. And by that, I mean saving wasted time and money.

But besides this, organizations don’t really have a choice anymore. They need effective document workflow automation to remain competitive.

But why? To answer that question, let’s take a look at what document workflow automation is, its benefits, and how to implement it.

What is document workflow automation?

Document workflow automation is the process of using software to automate the flow of documents through a business process. 

This involves automating the capture, storage, routing, processing, and retrieval of documents. By automating these processes, businesses can reduce the time and effort required to manage documents, minimize errors, and improve data accuracy.

Document workflow automation benefits

There are several key benefits of document workflow automation. Here are some of the most important:

Increased efficiency

The most significant advantage of document workflow automation is the increased efficiency it provides. 

By automating the document handling process, businesses can reduce the time and effort required to manage documents significantly. 

This means that employees can spend more time on other critical tasks, such as customer service or product development, rather than on document management.

Improved accuracy

Manual document workflows are prone to errors. Documents can be misplaced, misfiled, or lost altogether. Additionally, data entry errors can occur, leading to inaccurate information and potential business risks. 

With document workflow automation, these errors can be minimized, if not eliminated entirely. By automating the capture, processing, and retrieval of documents, data accuracy is greatly improved.

Better collaboration

In many businesses, documents must be passed between multiple departments or individuals before they can be finalized or processed. This can result in delays and errors as documents are passed back and forth manually. 

Document workflow automation makes that unnecessary by automatically routing documents to the appropriate individuals or departments, allowing for better collaboration and faster processing times.

Enhanced security

Document workflow automation also offers enhanced security features. Documents can be stored in a secure, centralized place, making it easier to manage access and permissions. 

Not only that, automated workflows include security measures such as encryption, digital signatures, and user authentication, ensuring that documents are only accessed by authorized personnel.

Compliance has literally never been easier. 

Cost savings

Last but not least, document workflow automation results in significant cost savings for businesses. 

By reducing the time and effort required to manage documents, businesses can reduce labor costs. 

Additionally, the improved accuracy and collaboration provided by document workflow automation leads to reduced errors and faster processing times. That results in lower costs and increased profitability.

How to implement document workflow automation

Implementing document workflow automation can seem like a daunting task, but there are several steps businesses can take to ensure a successful implementation.

Identify key processes

The first step is to identify automation opportunities within the key processes. These may include:

• Document capture 
• Storage 
• Retrieval 
• Routing 
• Processing
• Archiving 

By identifying these processes, businesses can begin to develop a plan for implementing automation.

Choose the right software

Choosing the right document workflow automation software is crucial for a successful implementation. Businesses should look for software that is easy to use, flexible, and scalable. 

But it’s important to keep in mind that not every document workflow automation is created equal and you need to figure out what features your business needs. 

If you don’t get the right one for your organization, you risk wasting time and money on a tool that can’t perform the functions you need.

Additionally, the software should integrate with existing systems, such as document management systems or enterprise resource planning systems.

Plan for integration

Document workflow automation software should be integrated into existing systems to ensure a smooth transition. 

This may involve integrating with existing document management systems, enterprise resource planning systems, or other business software.

Businesses should also make sure that the new automation software is compatible with their existing hardware and infrastructure to avoid problems.

Train employees

Training employees on the new document workflow automation system is critical for a successful implementation. 

Employees should be trained on how to use the new software, as well as any new processes or procedures that are associated with the automation system. 

This will ensure that employees are comfortable with the software and are able to identify and fix problems when they arise. 

Document workflow automation use cases

The use cases for document workflow automation are as numerous as the number of documents businesses deal with. Here are just a few of the most useful:

Invoice processing

Invoice processing is a tedious and time-consuming task that involves a lot of manual work. However, with document workflow automation, the entire process can be automated. 

The system can automatically extract invoice data from PDF or paper invoices, match the data with the corresponding purchase order or receipt, and send the invoice for approval. This saves a lot of time and reduces errors in the process.

Contract management

Contract management is another area where document workflow automation can be extremely useful. Contracts involve a lot of paperwork and require multiple approvals, which can be time-consuming and prone to errors. 

With document workflow automation, the entire contract management process can be streamlined. The system can automatically:

• Generate contracts 
• Route them for approval
• Track their progress

This saves time and ensures that all contracts are properly managed.

HR processes

Human resources (HR) processes involve a lot of paperwork, from onboarding documents to employee performance reviews. These processes can be time-consuming and prone to errors.

Document workflow automation can streamline HR processes by automating the collection and processing of employee information. This includes automating the collection of resumes, sending out offer letters, and tracking employee performance.

That makes it the best possible system for HR teams to manage their documents in the most efficient way possible.

Legal document management

Legal documents are critical for any organization, but they are also complex and time-consuming to manage. Document workflow automation can help to simplify legal document management by automating the process of creating, reviewing, and approving legal documents. 

This includes contracts, NDAs, and other legal documents. The system can also track changes and revisions to documents, ensuring that all parties have access to the latest version.

Customer service

Customer service teams deal with a lot of documentation, from support tickets to customer inquiries. Document workflow automation can help to streamline the customer service process by automating the handling of customer inquiries and support tickets. 

The system can automatically route tickets to the appropriate team members, track progress, and escalate issues as needed. This saves tons of time and ensures that customers receive prompt and efficient service, making them a lot happier.

Before you go 

If you want to see what a document workflow automation tool can offer and have your questions answered in real time, book a demo with Process Street! Our sales representatives can walk you through the whole process of building a workflow and how the platform can work for entire companies.