Picking a workflow management system isn’t as easy as many assume. It involves mapping existing business processes, identifying areas of inefficiency, and developing a clear understanding of a company’s existing technology suite with a view to integrating it with new platforms. And then there’s the issue of actually selecting from a pool of hundreds of providers.
This article breaks down the process of purchasing document workflow management software, one of the most useful, common and pervasive types of automation application.
What Is Workflow Automation Software?
Workflow automation software is used to carry out the following processes:
- Map routine business tasks: Most automation platforms include dashboards for creating visual representations of common business tasks. Often this will be via a drag-and-drop interface that makes it easy for users to set trigger-based sequences, initiated by customer action or pre-determined to recur at time-based intervals.
- Transfer data between platforms: Data transfer between platforms is one of the most time-consuming manual tasks. Modern automation platforms are built to sync with other apps, and typically provide users with integration libraries containing hundreds of connectors. Common data sets include customer details, purchase and financial information, and analytics.
- Track and analyze customer behavior: The business space has become increasingly reliant on data to inform promotional decisions. Automation software will collect data from different platforms, such as accounting, ecommerce, and document management, and collate it into a uniform data set. It will then generate actionable insights that businesses can use to drive higher levels of customer engagement.
Why Is Document Workflow Automation Important?
Why is document workflow automation so important? Here is an overview of the main reasons:
- Increases document conversions: Because digital documents are easier to approve with electronic signatures, they tend to have higher conversion rates. Equally, automation software makes it easy to schedule reminders to unresponsive prospects.
- Saves resources spent on routine tasks: Routine tasks like data entry, approval notifications, and document drafting consume significant amounts of resources. Workflow management systems largely eliminate the need for human input to complete these tasks.
- Makes it easy to track progress towards KPIs: The aggregated analytics engines of automation platforms make it easy to measure how well an organization is meeting key performance indicators (KPIs) like sales, conversions, repeat purchases and so on.
- Provides insight into customer behavior: Most automation platforms are able to track various aspects of customer behavior. For example, PandaDoc, one of the market leaders in the document management space, tells users when prospects have opened, read or signed a document.
- Integrates with existing apps: Automation platforms are typically built to slot into existing tech stacks with a minimum of effort. This allows for a fully integrated suite of apps across which the transfer of data and employee communication can happen seamlessly.