A recent study commissioned by Epicor and conducted by Morar Consulting substantiates the notion that the firms best poised for global growth are those that invest in technology and systems/process improvement.
June 07, 2017
A recent study commissioned by Epicor and conducted by Morar Consulting substantiates the notion that the firms best poised for global growth are those that invest in technology and systems/process improvement. The 2017 survey of 2,450 business decision-makers across 12 countries, in industries including manufacturing, distribution, retail and lumber revealed the following eye-opening trends for companies looking to grow their business globally:
- Respondents rated Planning and Strategy as the highest-ranking influencer in achieving growth (40%)
- More respondents (47%) ranked better technology as the key factor to overcoming challenges to growth
- Among companies that experienced the most business growth, 69% said they planned to invest heavily in systems and processes
- A majority (52%) expected to see positive growth impact from IT investments within 12 months
From Artsyl Technologies’ perspective these statistics and trends are no surprise. Companies that partner with Artsyl and adopt smart process technology to automate their processes are typically looking to achieve more than cost-cutting to boost their bottom line. Their ultimate goal is usually more focused on achieving scalability and process transparency so that their operations don’t inhibit business growth.
One example is multi-tool manufacturer Leatherman tool group. To better position itself for growth, Leatherman® turned to Artsyl Technologies to deliver end-to-end process automation for their accounts payable processing, including integration with their new ERP system. The new system relied on Artsyl’s docAlpha smart process platform to automatically extract transaction data from scanned paper and electronic invoices, which was used to inform business rules for approval routing and PO matching.
While the resulting solution achieved a quick return on investment in terms of efficiency gains, the company’s real focus was on achieving greater process control and scalability as they expanded operations globally.
By relying on docAlpha, the AP team believes that they were able to handle business growth through automation, essentially eliminating the need to add another staff member to focus full time on accounts payable processing.
To learn more about how companies like Leatherman rely on automation to achieve greater process control and scalability, read the Leatherman case study.
For more information about the Epicor Global Growth Survey, go to: https://www.slideshare.net/Epicor/getting-growth-business-growth-trends-across-the-globe-75656413?trk=v-feed