In competitive environments, speed is crucial to success. For mid-sized businesses (MSBs) digital technology allows them to automate repeatable movements and focus on more complex tasks and decision-making. This is according to David Mills, CEO, Ricoh Europe.
New Ricoh research reveals Europe’s MSBs aren’t lacking in ambition as 38 per cent plan to go public, but in reality, few MSBs actually step up and become large enterprises. In fact, 93 per cent report that they encounter barriers that prevent them from reaching their full potential.
Here’s why office automation is the answer:
- The ability to accelerate the speed at which you do business. Financial services is an industry where the need for speed is patently clear. Automation can cut the time spent on tasks which previously proved extremely time intensive. This puts businesses not only in a position to be more agile, but it frees up one of their most important resources, their employee’s time, for use on more business critical tasks.
- Gain more control over invoicing and finances. By automating cash flow and replacing paper invoices with electronic invoicing, businesses can almost immediately speed up receipts and payments all without incurring significant capital expenditure. Ricoh research into the cost of traditional paper invoicing found that electronic invoices could potentially save the European public sector €40billion annually alone.
- Being able to reduce waste by managing the entire lifecycle of a document. Advanced copying, scanning and printing processes that integrate front office and back office systems and processes are all increasingly seen as fundamental by modern businesses. Automation not only simplifies these processes, but has the added benefit of cutting down on waste, too.
- Improve access to your archives. By automating scanning and archiving services, employees can access the right information when they need it. This efficient system saves time and money. It also cuts down on the time spent building and maintaining business records. An electronic repository not only simplifies searching for and extracting data but allows for secure shredding and end-of-life management. Document flows can also be simplified for easy management, for example, when a document needs to be signed to authorise the next stage of a process.
Ricoh’s research shows Europe’s mid-market could be missing out on €433 billion each year due to the obstacles in their path. In the race to win, MSBs need to take a critical look at the engine fueling their business. If it’s not sleek, the chances are the competition will pull ahead. Now is the time to redesign operations with a winning and streamlined mentality.