Higher profit margins through back office automation with chris farrell and russ danford
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Transcript of Higher profit margins through back office automation with chris farrell and russ danford
![Page 1: Higher profit margins through back office automation with chris farrell and russ danford](https://reader036.fdocument.pub/reader036/viewer/2022081518/548338b6b079591a0c8b495b/html5/thumbnails/1.jpg)
HIGHER PROFIT MARGINS THROUGH BACK OFFICE AUTOMATIONRuss Danford, Chris Farrell and Rob Trail
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• About SpringAhead
• The back-office conundrum
• The golden rules of back-office savings
• Peering into the future
• Summary
AGENDA
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• Online time and expense report service
• Integrates with a wide array of software platforms
• 2,000+ customers
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• Core, repeatable processes represent a material cost
• Billing • Payroll• Reporting & Commissions
• Errors are costly• Financial• Cash flow • Client relations
THE BACK OFFICE CONUNDRUM
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1.Challenge every process you have
2.Never enter data twice
3.Never use paper
4.Build your strategy around “open” systems
THE GOLDEN RULES FOR BACK-OFFICE SAVINGS
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• Sharing data between systems is now a low-cost option
• Best-of-breed apps can focus intensively on narrow problem sets
• Monolithic software providers face a major challenge
PEERING INTO THE FUTURE: OPEN API’S
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PEERING INTO THE FUTURE: OPEN API’S
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• The bar for software is being raised daily
• Consumer software is leading the way
• Software companies that lag will fail
PEERING INTO THE FUTURE: USER EXPERIENCE
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PEERING INTO THE FUTURE: USER EXPERIENCE
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• Machine learning is a precursor to artificial intelligence
• People will become increasingly resistant to repetitive tasks
• Machine learning talent is already a strategic differentiator
PEERING INTO THE FUTURE: MACHINE LEARNING
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PEERING INTO THE FUTURE: MACHINE LEARNING
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• Quality back-office management is a strategic advantage
• Back-office costs will decline sharply this decade
• Adopt a flexible strategy
CONCLUSION
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