Automation as a factor in client-business relations
Companies spend vast amounts of money on technologies that will benefit their business operations. Nevertheless, many underestimate the importance of document processes automation including invoices and accounts payable. In many organizations, this aspect is still handled manually. The old fashion non-automated solution is error-prone, slower and less reliable. That causes more than its share of challenges. For example the risk of missed or backlogged payments increases, what has a direct impact on not only a business but most importantly, in i.e. the IP segment, a client. None of that helps an organization’s relationship with their customers, but the impact goes further. When a problem arises, the non-automated data management system is less effective in finding proper information what makes it more difficult to address the issue. This can make a client feel undervalued and underappreciated and lead to not only unfavorable for the business word of mouth but even losing existing clients.
Achieving business optimization through the use of automation
Automation of the business document processes can change all those inefficiencies. There are plenty advantages of this solution. To name some: cut down on overall costs of handling tasks, improvement of data accuracy, acceleration of the process and scale down of the number of people needed to get the innumerable tasks done. Technology implementation gives frontline agents time to focus on more impactful activities. Such as proactive interactions with clients and issues identification. Not to mention, their work can be of better quality because they would not need to waste their energy and potential on tedious activities such as repetitive administration tasks any longer. In terms of costs, if the organization decides to go for a cloud-based platform they are most likely going to save even more money. Some IT solutions, even though without a doubt are cost efficient, consist of continuous extra paid updates, troubleshooting, customisations, maintenance, integrations and security management requirements. The cloud-based systems are consistently updated and maintained by the provider at no extra cost.
In the IP segment, many organizations struggle to manage data, annuities etc. at their current business size what makes them reluctant to acquire more clients as they do not have the capacity to manage their portfolios. Significant benefit of automation is that it is scalable. It is easy to add new portfolios’ elements as and when the organization needs it. What is more, cross border solutions help a company to expand into new countries without having to worry about data collection on those markets- the system is up to date and will keep pace with firm’s needs automatically.
Learn how 42patents can automate your patent annuities by taking care of all your hassle with invoicing of customers as a patent agent, or dealing with many different cost centers as a company. At 42patents we take care of everything related to patent annuity payments.
This article is written by Lena Anna Janiszewska