4 Key Areas to Automate Data Processes in Your Back Office

Jul 11, 2024

The amount of data available to organizations is growing at an unprecedented rate. While companies are adapting with essential moves to the cloud and updating their data infrastructure, there is still so much either uncaptured data, or data that is available but not being transformed in a way that can support decision making. It is more critical than ever that businesses are able to automate key functions in their back office that will enable the ingestion, transformation, and actionability of this data. This article outlines four key areas where businesses, across industries, can automate their data processes in the back office.

Data Ingestion

Data ingestion is the process of collecting data from various sources into a data bank or other type of system.

  • Data is everywhere in hundreds of different formats and types, and the ability to gather that data efficiently and most importantly, accurately is critical.
  • Systems that work to automate data ingestion, generally automate the collection of data, extraction of desired components, validation and transformation of those components, and ultimately the delivery to the next system repository.
  • Tools that allow for data ingestion commonly are API capable (or connect to multiple systems), leverage OCR or machine learning to read data, then compute and validate that data against another data set, and ultimately host and/or deliver the transformed data to the system of your choice.

System Integration

System integration is bringing together different subsystems’ data to a larger more comprehensive data system.

  • Your business may require data from a CRM, a general ledger, and multiple other sources for a particular report. Data integration allows you to pull data from these systems to a larger data set to produce the report.
  • Products that offer system integration need to be able to handle very diverse data sets from documents to databases to APIs. Being able to access, understand and send data from/to these sources is paramount.

Standardized Outputs

When referring to ‘standardized outputs’, we are alluding to the reporting or deliverables that come from a back office.

  • When automating these outputs, it is important that the data comes from a single source of truth. Standardized inputs are critical to standardized outputs.
  • Automation tools in this area often can produce custom outputs (reports, excel files, etc.) by pulling previously collected, validated, and transformed data from a main data source.

Master Data Normalization

Master Data is the main data that connects all systems in an organization, providing the main source of truth across the business.

  • To automate from the master data, it is critical to automate the processes around creating and collecting the data, as well as automating the management of data once it is part of the master data source.
  • Investing in products that help automate the master data processes in your organization have several benefits including, but not limited to:
    1. Efficiency gains
    2. Improved data accuracy
    3. Scalability
    4. Improved data governance and compliance

Harmonate is a SaaS workflow product that automates the movement, transformation, validation and delivery of data. We work with organizations across industries such as financial services and supply chain to help automate highly manual processes around their key business deliverables. If you are looking to incorporate automation to your organization, we would welcome a conversation.

 

 

 

 

 

 

 

 

 

 

 

 

 

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