Financial impacts of technology: Automated systems

In an age marked by rapid technology development, companies have discovered prioritizing and embracing these advancements as a way to not only aid their workforce but also benefit from the efficiency of automated processes that impact financial solutions. Mostly reserved for repetitive processes, systems like payment automation have saved U.S. business finance teams approximately 500 hours per year.

“Businesses are looking for automation to improve operational efficiencies…you want to be focused on your end-customer experience solution that you’re delivering…the faster you can bring revenue in and make sales and operations more efficient, the better customer experience and that’s why platforms and integrative technologies are really important to us,” said Paul Hager, vice president of Services at Ingram Micro.

Increased efficiency: 74% of IT and engineering leaders say automation helps employees save between 11–30% of their time spent on manual tasks and is required for digital transformation. Using predictive analytics and regular maintenance leads to prolonged system life and quicker response times, reducing operational hurdles. This allows companies to allocate resources more efficiently.

“Organizations are increasingly using digitalization to automate and to remove the human from the equation so to speak, such that things can be done faster, more efficiently and around the clock,” said Karl Connolly, Ingram Micro technology consultant.

Improved accuracy: Automation can help validate data, check for duplicate data and ensure the data is correctly formatted and accurate, which helps finance solutions avoid errors and improves financial reporting. Though machine learning leans toward inherent accuracy, according to Connolly, the key lies in implementing robust governance mechanisms within highly compliant industries like healthcare or payment card sectors.

Enhanced data analysis: Automated systems help finance teams turn raw financial data into actionable insights like discovering market trends and risks and learning more about customer behavior. This helps maintain a clearer view of key performance indicators like payroll costs, revenue generated and more.

Ingram Micro’s Financial Solutions team helps companies of all sizes discover their potential by providing a unique and customized perspective on ways to grow business and capitalize on the latest technologies through Ingram Micro Xvantage™. Learn how to enhance business through automation services available on Xvantage.

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Jackie Connor is a writer with more than 15 years of experience contributing to news publications and marketing teams. Since joining Ingram Micro in 2022, she covers technology services, financial solutions and ESG.

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