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How does data analytics help improve business processes?
Business processes in every sphere and industry are closely connected with document workflows. Some statistics suggest that they take up to 75% of HR’s time. Smooth and consistent workflows free up time and money for companies to focus on important tasks. If you find yourself smothered in bottlenecks, delays and hundreds of notifications, it’s a clear sign to start optimizing your business processes.
Successful optimization requires preliminary analysis in order to identify the strengths and weaknesses of your processes. Once you know where your workflow’s weaknesses are, you can experiment with solutions until you’re completely satisfied with the result. But how do you go about measuring strengths and weaknesses? There are a lot of analytics widgets (tools) out there built for doing exactly that. They help trace processes from start to finish and provide clear statistical data that allows you to pinpoint inefficiencies.
How to analyze business processes
With the help of workflow analysis, businesses can scan their performance and look for areas to boost efficiency, productivity and promote growth. To understand the ups and downs of workflow processes, businesses employ three basic methods:
- Interview employees — Nobody knows an organization’s routine processes better than the employees performing them daily. They can provide important information on the consistency of the process, participants and their responsibilities.
- Analyze process models — In order to assess a process’s model, its goal, value and KPI should be established.
- Record metrics — The process becomes clear when it’s displayed in figures or graphs where the required managers can easily trace ups and downs, growth and inconsistencies. Visual documentation is essential for effective management and analysis.
To further improve the above methods, the most successful companies deploy robotic process automation (RPA) for more automated analyses. A great example of effective RPA is an audit trail or analytics widgets. These built-in tools enable businesses to generate performance results in real time, introduce changes and assess their impact.
Workflow analysis in airSlate: the unique features that make it a future-forward platform revolutionizing the way business processes are handled
airSlate is a holistic RPA platform with a goal of automating business processes of any complexity; forms generation, contract negotiation and management, e-signing, e-payments, etc. With the help of airSlate, businesses can speed up and streamline workflows while saving money. It features configurable tools for optimizing and building a smooth working process using analytical tools for generating statistical data.
airSlate’s data metrics enable users to see:- Slates, that have been drafted
- Slates, that have been sent
- Teammates involved
- Flows created
airSlate’s workflow analytics enables users to access statistics for a certain period, filtering it by date and time. The data can be displayed visually and downloaded in PDF and XLS format. Analytics in airSlate is performed with the help of analytics widgets. The most commonly used widgets are the New Slates for calculating created Slates, and Field trigger for calculating how many times a specific event was triggered. Some analytics widgets are applied by default, while others need to be set up and configured.
Over 20 million customers, including XEROX, AMGEN, and FirstData employ airSlate for automating their workflows. Its easy-to-use interface, top-notch security and versatile feature pane are among the top criteria that attract big businesses. Sign up for a free trial and enhance your business’s performance.
Conclusion
Times change, although the formula «Plan-Act-Reflect» remains king. Proper workflow data analytics help reveal gaps and bottlenecks and even eliminate them. If used properly, analytics tools will eventually unleash huge growth within your organization. Deploy airSlate RPA into your workflow and see amazing results fast.