This is the second post in a PaymentSource Premium series, exploring the business case for automating your accounts payable (AP) to manage all invoices, not just the alcohol ones, in one place.
How does automation impact your life at work? Does it make your life easier or give you anxiety? If automation worries you, you are not alone. A 2023 study found that 22% of U.S workers are worried about being replaced by automated tools (say robots or computer-based systems), which is a big jump from the 13% reported back in 2017.
But there’s no need to worry. Automation at work brings more joy than pain. In fact, this technology can handle 50% of all tasks, saving you – on average – six or more hours per week. Thus, automation isn’t about replacing humans for machines. It is about giving you the freedom to focus on adding even more value to your work.
Let’s dig even deeper into the past to see how automation has revolutionized life at work across various industries.
Revolutionizing Efficiency Through Centuries of Automation
Automation in the medieval world
Automation shook the medieval world with new ways to consume content. Have you heard about the Printing Revolution? Throughout Europe, vital knowledge and ideas spread like wildfire thanks to Johannes Gutenberg and his groundbreaking printing press.
This innovation not only improved access to valuable content for ordinary citizens but also simplified tasks like tracking business transactions. A true game-changer in the history of mankind.
Automation and the first steam engine
Later in the late 17th century, Thomas Savery truly sparked a revolution with the creation of the first steam engine. James Watt then took it to the next level almost a century later with a more advanced version that powered rotary machines in factories like cotton mills and mines.
This innovation not only boosted efficiency across various industries and transportation sectors but also sparked a widespread need for optimized entrepreneurial efficiency in society.
Automation and business communications
Innovations like the telegraph revolutionized communications in the 19th century. This new device helped:
- Newly-built railway systems stay on track with coordinated schedules
- The White House craft Civil War strategies based on crucial troop information
The invention of the telephone further accelerated progress by enabling real-time communication, improving timely decisions, and eliminating distance barriers.
Automation and electrification
The widespread adoption of electricity also sparked a revolution in manufacturing, boosting productivity and efficiency in the workplace. This groundbreaking advancement enabled factories to operate 24/7, leading to record-high production levels during the 19th and 20th centuries.
Automation in today’s in-office work
In more recent times, automation has totally revolutionized the way we work, from the 20th century right up to today. Computers now help us tackle all sorts of tricky tasks, like:
- Entering invoice data
- Crunching numbers in spreadsheets
- Working virtually from anywhere
- Working collaboratively with project management tools
Just to name a few. It seems like automation has taken over every aspect of our work lives!
What Does Automation Bring to Our Life at Work?
Automation is becoming an integral part of our daily lives, with its undeniable impact felt across various sectors. As highlighted in a Microsoft study, people are turning to automation to streamline repetitive tasks, foster internal and external collaboration, and drive informed decisions with customized insights tailored to their unique business needs.
By automating more tasks, you can free up valuable time to focus on high-impact priorities and generate more business value.
Benefits of Automation at Work
More engaged employees
Spending an eternity on mind-numbing tasks like manually entering invoice data or chasing down paper-based receipts can really zap motivation at work.
A Zapier’s study found that 90% of knowledge workers feel automation has improved their work lives, with 65% experiencing a sense of relief from automating manual tasks.
Consistent outcomes
Automating tasks like vendor communications and inventory tracking shields businesses from human delays and disruptions. This ensures consistent output delivery despite unexpected sick days, emergencies, or heavy workloads commonly found in traditional processes.
Plus, you are also free to engage in strategic planning, stay ahead of potential risks affecting your bottom line, and tackle business challenges and opportunities with greater confidence.
Avoiding costly inaccuracies
A properly configured automation tool lets you mitigate potential errors that can negatively impact your bottom line. Just picture it: Humans caught up in mundane admin tasks can easily lose focus or tire out, leading to a higher chance of slip-ups or mistakes affecting your profits.
It also lets you surface insights from a centralized source of information to overcome miscommunications and unnecessary duplication of efforts that may contribute to costly confusion.
Efficiency at scale
Modern automation solutions offer functionalities that allow you to expand your operations without compromising resources or quality. As you tackle one task at a time, automation steps in as a reliable assistant, taking care of mundane and time-consuming responsibilities such as processing invoices and tracking expenses for you.
This frees up more time for peak productivity, meeting demand faster, focusing on business objectives, and growing efficiently.
Automated Invoice Processing is a Case in Point
Traditional Invoice Processing
The conventional way of processing invoices relies heavily on paper-based touchpoints and constant human involvement. Upon receiving an invoice, you’re stuck with manual data entry, generating paper invoices, matching purchase orders, and endless filing. This whole process is not just time-consuming but also a breeding ground for errors and delays, making it a total productivity killer.
Automated Invoice Processing
Automated invoice processing relies on advanced technology and software to streamline the handling, processing, and management of incoming invoices from arrival to payment. It simplifies every step of the invoice management procedure, from extracting line-item invoice data, to reconciling accounts, to approving payments, ensuring vendors get paid on time.
Automation Unlocks Your True Business Potential
Automation at work brings more joy than pain. For centuries, this technology has enabled us to change the rules of the game across all industries and sectors, giving us more time to boost productivity, lead efficiency, and focus on the things that truly matter.
From automating repetitive tasks like manual data entry to setting invoice payments on autopilot, automation is never a threat. It’s all about inspiring change and empowering yourself to unlock your true business potential.
