How Data Exchange Products can Help Your Company Grow: Benefit 1 - Saving Time

Hi everyone, my name is Anna Vasileva, and today I will tell you how innovative data exchange products can help you save even more time.

When we sum up the results of the year or quarter, we think about the parts of our plans that  did not materialize. We may attend training and read a lot of literature on time management, personal development, productivity and efficiency etc., but many of us have never thought about how many of our daily tasks can be entrusted to automated assistants created for this purpose, and today I will provide you with four ways to significantly reduce the time taken by data exchange processes with the use of the latest systems.

First is master data management. With this solution, all data are updated in real time, so you don’t have to wait for any system updates. The process of launching products is accelerated by internal workflows that allow you to customize and automate any information you would usually process manually during product enrichment. Once you have created product information, you are able to publish it to a various sales channels, which again brings time optimization.

You can also significantly reduce the time spent on communication with your business partners by using EDI. How? Let me give you an example from the logistics area. Using EDI enables the automation of barcode transmission for logistics units. This barcode, also called SSCC code, is transmitted in an electronic document called the dispatch advice. There is no need to waste time on phone calls or emails, as all information is encoded so the consignee knows exactly the quantity and logistics units in which all products will be delivered to the warehouse. It’s easy to imagine how much time you can save on automation of different processes like creation of logistics labels logistics labels, generation of logistics units, displaying cargo data and so on. In general, the whole process time of receiving goods in the warehouse can be reduced by an average of 15-20%.

Did you know that, according to research, it’s also possible to save around 70%¹ of time by switching from manual to automated invoice processing? This can be done easily. Fewer manual documents means fewer errors and corrections, and eliminates the need for manual invoice creation and printing. In addition, automation of the process means faster invoice delivery, processing and posting. And yes, you’re right – the probability that invoices will be paid faster increases too. What’s more, you do not need to spend time analyzing compliance of your invoices with local laws where your partners operate, as a trusted e-invoicing provider is a guarantor of the authenticity, integrity and storage of each document.

Additionally, an online distribution system for daily reporting of sell-out data from distributors and wholesalers can allow you to react immediately to changing market conditions and maintain sales dynamics. How does this work? The manufacturer no longer has to spend time ensuring the technical and business quality of the reported data, as this is done by the system. Thanks to automated reporting directly from distributors’ ERP systems, there is a noticeable saving in the time spent by business analysts and sales managers icompiling and analyzing data. To date, such information has been received from multiple partners in different formats and at different times. All the necessary information for important business decisions can be updated automatically and available at any time.

In summary, consider which processes at your own company could be entrusted to innovative automated assistants. Perhaps you have already planned to start automation? If so, you are welcome to provide me with details so we can select the best solution from our Comarch Data Exchange portfolio. Contact me at Anna.Vasilieva@comarch.com.

 
¹https://www.capgemini.com/consulting-de/wp-content/uploads/sites/32/2017/08/robotic-process-automation-study.pdf & http://blog.groupseres.com/en/8-benefits-of-the-electronic-invoice-seres-global