Defining workflow automation
Implementing automation in the workplace is challenging. CFOs first need to understand the basics of workflow automation and identify which areas need optimizing in their finance department.
Workflow automation is an approach that embraces technology as a means of executing business processes autonomously.
The aim is to reduce human involvement in specific and repetitive manual processes. Removing the need for manual data entry and tasks minimizes errors and waiting time, which encourages faster processing times..
Workflows to automate
The first step in moving towards workflow automation in your finance department is identifying which tasks slow down your operations and which would benefit most from automation. These tasks involve manual data entry, corrections, document approvals, and payments.
Below we'll talk about which workflow automation processes are popular among finance teams and which functions can be automated.