Saving on costs and cutting process times are significant goals of business operations across industries. Solutions for the latter come in many forms. Where businesses once relied on cutting corners to save costs, such as not investing in practical systems or deciding to downsize staff, the newest (and more advantageous) solution is relying on technology to automate typically high-cost processes.
Especially in the world of consumer data requests and collection, where the cost is applied to the customer and the business, data automation is more important now than ever before. And technology is here to help. Saving time and money just got easier.
What is technology automation and why do you need it now?
In its simplest form, automation is the use of technology to minimize human effort and accelerate business processes. Automation can be used in various ways, depending on the use-case. Machine learning, for example, leans on artificial intelligence to learn current processes, trigger new ones, reroute running processes, and make active recommendations based on those current processes. Process automation, on the other hand, depends more on a dedicated software or app for specific tasks, like using an application programming interface (API) to gather or synthesize data from multiple sources.
Today, different technologies can help solve various process inefficiencies, depending on business needs. While one-type of automation might not fit all problems, there’s certainly enough variation in its ability to create solutions, which eliminates the need for manual processing in any field.
Manual vs automated processes
Typically, manual processes, specifically consumer data collection, rely on humans to gather information, synthesize and analyze the data collected, and then deliver those data points to the necessary audience to move forward with the business process at hand. For industries that rely on a variety of consumer data for their services (consumer reporting agencies, mortgage and auto lenders, credit unions, and more), this manual data collection can create bottlenecks that extend or delay processing times, and more significantly, cost those companies and their consumers time and money.
Automation keeps it simple, relying less on human processing speeds and eliminating the risk of human error.
The reason you shouldn’t wait to automate
So why automate today? The answer: Immediate cost savings through simplified processes. Using software or other technologies to automate business processes is estimated to increase productivity by 75% year-over-year. Depending on the cost of employee time, the return on investment is significant, allowing the ability to scale and grow your business. Neglecting to automate your data collection process in the short and long term will cost time and money. Time is of the essence when making this change, and fortunately there are tools and services that can help speed up your business’s ability to automate.
How to take advantage of automation for your business
Today, automation can be used effectively by digitizing work using tools to streamline and centralize routine tasks. Luckily, if building technology to digitize your processes isn’t in your budget or wheelhouse, companies like MeasureOne have it taken care of.
MeasureOne uses technology to sync directly with your consumers and their data. And we always operate with your business needs in mind, offering multiple integration options to make things simple:
- Hosted web portal: A portal allows you to consolidate your consumer information and access and share consumer-permissioned data as you need it
- Third party platforms: For companies that use third parties like TazWorks or Accio Data already, MeasureOne connects for you, simplifying integration and deployment using your existing operational workflow
- API: Integrate the consumer experience natively into your application. Results will automatically populate your platform
Partner with MeasureOne to streamline your services today
Taking advantage of automation isn’t complicated when you have a partner in MeasureOne. We simplify data collecting solutions with our many technology integration options, all while saving time, energy, and money for your business.
Searching for low-cost automation solutions or just interested in streamlining your consumer data collection? We’re here to help. Get started today.