Time is Money
Could your employees use an extra 960 hours of work annually?
A tech start-up was struggling with maintaining daily transactions and closing their books timely. They needed help optimizing their processes to keep staffing numbers low and to improve their financial data to maintain investor confidence. James Moore created automated workflows in Alteryx to help the company save on personnel time, reduce risk and improve employee morale.
Challenge
Due to continued growth and employee turnover, a small business funding company was struggling to keep up with the daily processing of transactions. They also had delays closing their books monthly and at the end of the year. Basically, they were either going to hire more employees or reimagine how to change operations to become more efficient based on current state and projected growth.
The company needed to reduce process cycle time, increase employee satisfaction, better integrate and align their systems, and reduce human error.
Solutions
James Moore’s data analytics professionals met with the company to fully map out their existing processes. Then we identified daily and monthly processes that were repetitive and almost entirely manual. After calculating the time they spent on them, we explained the return on investment they would have by automating these processes.
Leveraging Alteryx, we then created several automated workflows automating the daily, monthly and yearly processes that consumed so much of the team’s time. The automated workflows enabled the retrieval of, transformation, and ultimate upload of data into the organization's financial systems and provided the necessary reporting for validation and controls. The team estimated that these changes would save the company 960 hours of personnel time each year.
Results
The automations created by our team have saved our client roughly 960 hours of work annually — well exceeding the initial estimate. The company also experienced reduced risk and increased employee satisfaction. Employees were now able to spend more time on more urgent and significant tasks than manual data entry.
