There are a myriad of things that keep business Data Room Technology leaders awake at the night: competition, regulatory risks, client demands, etc. But one thing many aren’t taking into account is the potential to automate firm processes – a way to reduce the amount of time needed to turn around, eliminate mistakes and increase overall efficiency and profit.

The aim of automating a process is to move a task from a lengthy manual process that requires step-by-step instructions to a simple, simplified digital format or function that is triggered by the entry of data or some other event. This allows employees to concentrate on more important tasks that improve employee satisfaction, build stronger relationships with customers and establish your company as a trustworthy and dependable business.

For example, a law firm may have a long-running workflow that requires the assembly and review of numerous documents like engagement letters, court pleadings, agreements and contracts. Automating workflows to send these items at the right time to the right person can help you complete more work in one day while making compliance easier and offering clients a more personal and efficient experience.

Understanding the existing workflow is the key to automating processes. A method that is thorough and practical helps businesses avoid wasting time on a complex and ineffective procedure, while also establishing confidence in automation technology. The first step is to determine whether a process has value and assessing the ease it would be converted to an automated workflow.