The Role of AI in Convenience Store Maintenance

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Convenience stores are a cornerstone of modern life, providing us with quick access to essential items when we need them. But convenience stores face multiple challenges in order to keep their shelves stocked, their doors open, and customers happy – and luckily for them, artificial intelligence (AI) is up to the convenience store challenge!

AI-enabled technology can help convenience store owners create personalized experiences for shoppers while also automating routine maintenance tasks like restocking inventory and cleaning display cases. In this blog post, we’ll explore how utilizing AI in convenience store operations can boost efficiency and customer satisfaction.

The Current State of Convenience Store Maintenance

Convenience stores play an essential role in our daily lives, providing us with quick access to basic necessities. However, the maintenance and repair of these stores are crucial for their smooth functioning. The traditional maintenance process involved manual work, and it posed several drawbacks. The process used to be time-consuming and labor-intensive, posing many real challenges including slow response times, high costs, and a lack of integration between different systems. The maintenance workers had to schedule appointments manually, keep track of purchases, and communicate with the management. Handling all these tasks manually was not just inefficient but also prone to errors.

However, with new digital technologies, there has been a significant shift in these processes.

Businesses are now leveraging innovative maintenance management systems that can help streamline operations and reduce maintenance costs dramatically.

Companies like Mosaic are leading the way in revolutionizing maintenance processes through the use of advanced technologies. Our suite of services integrates seamlessly with existing platforms, streamlining everything from workflow automation to service maintenance. 

The benefits of AI-driven maintenance cannot be overstated, from cost reduction to increased efficiency. For any convenience store looking to stay ahead of the curve, partnering with a provider like Mosaic is an excellent way to ensure success in the industry.

Read more: What is Digital Transformation?

The Power of AI in Streamlining Maintenance

Artificial intelligence (AI) has revolutionized the field of maintenance, streamlining various processes and enabling smooth operations. With its advanced capabilities in process automation, AI has the potential to significantly reduce maintenance costs while improving efficiency. Convenience stores, in particular, stand to benefit from the numerous applications of AI in their maintenance operations.

Applegreen utilized Epicor ECM AP Automation to reduce the number of accounts payable staff by 50% - read more.

These real-life examples demonstrate the immense power of AI in streamlining maintenance and ensuring that businesses can run smoothly, efficiently, and cost-effectively.

Read more: Going Paperless At Your Convenience Store: The Benefits and How To Get Started.

Paperless Workflow Automation: The First Step to AI-Driven Maintenance

In today’s fast-paced world, time is of the essence, especially when it comes to managing your business. That’s why Mosaic is offering paperless workflow automation that can transform your maintenance operations. By implementing this innovative solution, you can streamline your business processes and ensure efficient communication among your team members.

Say goodbye to manual data entry and endless paperwork, which can be prone to errors and delays!

Our platform integrates seamlessly with PDI ERP and other enterprise resource planning (ERP) systems, which means greater visibility and control over your maintenance activities.

Now is the time to take the first step towards AI-driven maintenance by embracing paperless workflow automation. Your business will thank you for it!

Moving to Service Maintenance Automation: The Next Step

By utilizing software like Mosaic and integrating it with service management software such as ServiceNow, businesses can streamline the maintenance request process. With automation in place, purchase orders and approvals are processed seamlessly, allowing for maximum efficiency and minimal errors. These changes not only speed up the maintenance process but also lead to quicker issue resolution. Moving towards service maintenance automation is the next logical step for any convenience store looking to improve its maintenance process.

The Benefits of AI and Automation Technology in Convenience Store Maintenance

Technology has been advancing at an unprecedented pace, particularly in the field of Artificial Intelligence (AI) and Automation. Convenience store maintenance represents a significant area that has benefited from the utilization of these technologies. The primary benefits include cost reduction, quicker processes, and increased efficiency.

Implementing AI and automation in convenience store maintenance has proven to be a game changer, enabling organizations to better manage their maintenance budgets, quickly attend to issues, and minimize downtime.

Mosaic, a leading provider of AI and automation solutions, has been at the forefront of confronting the biggest challenges for convenience retailers, leveraging cutting-edge technology to provide reliable, efficient, and cost-effective solutions to their clients.

Overall, it is clear that the benefits of AI and automation in the convenience store maintenance industry will continue to see further improvements, making it a key technology in any business strategy moving forward.

Ultimately, embracing the technological advancements offered by Mosaic will revolutionize convenience store maintenance and create mutually beneficial partnerships that are beneficial for businesses, customers, and ultimately our planet.

Ready to bring the power of AI to your convenience store business? Contact Us today to start facing your retail challenges today!

Revolutionizing Accounts Payable: Unleashing Efficiency with AP Automation

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Is your accounts payable process a maze of complexities and stumbling blocks? It’s time for a paradigm shift with AP automation. This digital overhaul streamlines approvals, and payments, enabling businesses to experience a smoother, more accurate, and cost-effective approach to managing accounts payable. This is your chance to nip those potential errors in the bud before they cascade into full-blown issues.

This write-up walks you through the essential features and advantages of this disruptive accounting solution. Get ready to explore how this state-of-the-art technology can breathe new life into your business and elevate your financial management to unprecedented levels!

We’ll take a deep dive into:

  • The Nitty-Gritty of AP Automation
  • Why Companies Are Embracing AP Automation
  • Crucial KPIs to Track When Adopting AP Automation Software
  • Key Attributes to Seek in Accounts Payable Automation Software
  • Three Must-Remember Insights
  • Diving Into AP Automation

What does AP Automation entail?

At its core, AP automation (also known as AP invoice automation) employs software to optimize, manage, and automate your accounts payable process.

Conventional accounts payable operations can be slow and prone to errors, but AP automation turns this on its head, ushering in speed and accuracy. The system adroitly handles monotonous manual tasks, such as data entry for invoices, matching, and processing paper documents. This liberates your team to concentrate on strategic tasks that add more value to your operations.

With AP automation, human intervention in accounts payable invoice processing is either negligible or non-existent. The entire workflow for accounts payable is digitally managed, providing a unified, paperless source of truth for the AP process, granting you a panoramic view of accounts payable.

AP automation showcases some key features:

  • Invoice Automation: Transform paper invoices into digital form for straightforward storage, retrieval, AP processing, and analysis.
  • Digital Matching: Automate the matching of invoices to purchase orders and delivery receipts.
  • Approval Workflows: Establish rules to control the approval process with zero human input, or automate the approval process by guiding documents to the correct person for single-click approval.
  • Payment Processing: Integrate various payment methods and systems for quicker payment, offering customers more options and control.
  • Reporting: Supervise activities related to accounts payable in real-time via an intuitive dashboard, utilizing this information to make swift, informed decisions.
  • Fraud Detection: Utilize artificial intelligence and machine learning to detect patterns and irregularities that might suggest fraudulent activity.

The Rationale for AP Automation

No more towering piles of invoices, missing files, or chasing payment approvals; the benefits of AP automation are clear. Optimum AP automation software ensures round-the-clock access from any device, making the process as convenient as it is efficient.

Here are the key advantages of AP automation:

  • Superior Efficiency: By eliminating manual tasks, AP automation boosts the speed of invoice processing and enhances efficiency.
  • Improved Accuracy: Automation lessens the risk of human errors that can strain relationships and damage your reputation.
  • Greater Visibility: Digitizing the accounts payable process grants easier access to data for deeper analysis and continuous improvement.
  • Cost Savings: AP automation reduces labor costs and increases accuracy, avoiding penalties and unnecessary fees.
  • Stellar Customer Experience: AP automation makes your business nimble and responsive, resulting in improved customer experiences and stronger partnerships. Scalability: AP automation enables you to adapt to varying workload demands without overwhelming your staff.
  • Enhanced Security: AP automation leverages encryption technology and secure digital repositories to protect your information.
  • Compliance Management: Automated systems ensure compliance with internal standards and regulatory requirements.

Crucial KPIs for AP Automation Software Implementation.

All the above sound promising, but could this just be another technology that promises much but delivers little?

The starting point in any software implementation strategy is defining SMART goals and measuring results. Here are a few critical metrics businesses tend to monitor:

Average Cost of Invoice:

According to the Institute of Finance and Management (IOFM), the average cost to process a fully-loaded invoice can be as high as $21. This cost is influenced by numerous factors, including company size, industry, location, and product selection. The degree of automation in the accounts payable process, however, is perhaps the most influential factor. With DocStar ECM AP Automation, this cost can be reduced to under $3.

Average Invoices Per Full-Time Employee:

The average number of invoices processed by a full-time employee can vary due to factors such as the individual's skill, experience, and training, and the company size, internal policies, procedures, and workload distribution. However, accounts payable automation can significantly influence this metric, potentially tripling the average capacity for processing invoices from around 4800 to approximately 1400.

Average Invoice Cycle Time:

This is the time taken to process an invoice from receipt to payment. The average is slightly over 17 days. AP automation can reduce this to just under 4 days by simplifying procedures, spotting errors, and resolving disputes quickly. Faster cycle times improve cash flow management, increase early payment discounts, and lead to stronger customer relationships.

Essential Features in Accounts Payable Software

With a multitude of accounts payable solutions in the market, it’s crucial to establish well-defined criteria for selecting the perfect fit. You don’t want to overspend on features you won’t use, but there are some you simply can’t do without. If the following must-haves are missing, keep searching!

  • User-Friendly: Despite being a basic requirement, it's astonishing how often companies get distracted by flashy features and neglect usability. During your product demo, focus on the ease of implementation and the day-to-day functionality for various user groups. If the system is overly complex, it might hamper user adoption.
  • Intelligent Data Capture: This feature uses machine learning and OCR (Optical Character Recognition) technology to extract data from scanned paper documents, emails, images, and other sources. It converts unstructured data (commonly found in paper invoices) into structured data for easy analysis by humans and computers.
  • Efficient Search and Retrieve: Employees often waste valuable time searching through filing cabinets and stacks of paperwork for essential documents. AP software streamlines this process by ensuring quick, easy access to vital information, empowering the right individuals to retrieve the correct documents when they're most needed. This access boosts employee productivity, allowing them to focus on more valuable tasks.
  • Reporting and Intuitive Dashboards: AP automation should not only increase access to invoices and related data but also their utility. Data should be displayed in a clear, user-friendly format, allowing users to derive actionable insights that guide decision-making and strategic planning.
  • Integrations: For complete automation and optimization of AP workflow, your AP automation solution should smoothly integrate with other back-office systems, such as accounting, HR, and ERP. Seamless integration ensures synchronization across all systems, enabling every team to access consistent and current information, fostering improved collaboration and communication.

Three Key Takeaways

  • AP automation revolutionizes accounts payable by increasing efficiency and accuracy while reducing costs, leveraging advanced features like digital invoicing and fraud detection.
  • The implementation of AP and invoice processing automation offers numerous benefits such as streamlined operations, improved data visibility, enhanced security, leading to a better customer experience and easier scalability.
  • Focus on user-friendly AP automation solutions that offer intelligent data capture, efficient search functions, insightful reporting, and seamless integration with existing systems.

Discover the comprehensive capabilities of accounts payable automation software, from education to implementation, with Mosaic. We provide tools that empower your AP team to work smarter. Take a tour and get in touch with Mosaic to learn more.

Exploring the Advantages of Automating Sales Orders

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The world of business is witnessing a shift toward a more streamlined, efficient approach that liberates sales teams from the shackles of redundant tasks. This innovation comes in the form of sales order automation, a boon to businesses that allows them to highlight their team’s competence while doing away with the trivial.

As we plunge deeper into the age of automation, the advantages keep multiplying. In this piece, we delve into the often-overlooked merits of automating sales orders and how it could dramatically boost your business performance.

To start off, let’s decode what sales order automation is.

Decoding Sales Order Automation

This advanced tool helps orchestrate the creation and fulfillment of sales orders in a seamless manner, involving every stage from order capture and validation to approvals, processing, tracking, forecasting, and finally, insightful reporting.

The journey of sales order automation can be broken down into three integral phases:

1 Capture

At this stage, Intelligent Data Capture (IDC) technology is used by the software to collect and sift through structured and unstructured data like a customer’s order history and written communications. The order is indexed and the process moves to the next stage.

2 Validate

The software performs a thorough validation of customer information, POs, quotes, credit checks, part numbers, and more, pointing out any inconsistencies or missing data. If any discrepancy arises, the order is routed to the right individual to review, cancel, or approve.

3 Process

Upon satisfying all the required conditions, the order is accepted, reviewed, initiated, and dispatched for fulfillment.

Commonly Recognized Benefits of Sales Order Automation

Sales order automation has been praised for its manifold benefits which include saving time on monotonous tasks, cutting down costs, enhancing accuracy, and promoting productivity. At its core, it enables teams to channel their energy towards tasks that add value and generate revenue.

Before we navigate to the less-discussed benefits of sales order automation, let’s briefly go over the commonly recognized ones.

Sales order automation has the potential to:

  • Accelerate your order processing: It expedites the entire cycle, trimming down the time needed to process orders and deliver services or products to your customers. Swift order processing can greatly enhance your company's reputation for exceptional service.
  • Automate data checks: Automation in sales order processing allows you to cross-check data against different systems like your ERP, helping you identify inconsistencies and errors.
  • Improve customer experience: By freeing up your sales and customer service team from mundane tasks, sales order automation significantly enhances the customer experience. This, in turn, empowers employees to actively listen, build relationships, and make decisions that catalyze long-term growth of the company.

Undiscovered Benefits of Sales Order Automation

As automation in sales order continues to gain traction, a multitude of latent benefits are coming to the forefront. Let’s unpack these advantages in more detail.

Eradicating Inconsistencies and Establishing a Single Source of Truth

Achieving a single source of truth is crucial for any organization aiming to improve efficiency and productivity. Sales order automation serves as an effective way to achieve this by minimizing human errors like typos or data entry mistakes and eliminating inconsistencies that might hamper business operations.

Boosting Employee Satisfaction and Retention

Your sales team serves as a vital cog in the success machine of your organization. Thus, retaining the best members is often challenging but highly crucial. Incorporating sales order automation can morph tedious tasks into meaningful processes, thereby reducing stress, enhancing job satisfaction, and fostering a conducive work environment. This leads to more engaged employees who perform better and are more likely to stay.

Ingraining Continuous Improvement (Allowing Your System to Learn on Its Own)

Cutting-edge sales order automation systems leverage advanced technologies like artificial intelligence (AI) and machine learning (ML) to expedite order processing while eliminating the need for human intervention.

Accommodating Millennial Buyers

By 2025, it’s projected that Millennials will form 75% of the global workforce. This underscores the need to align with the preferences of this emerging generation of professionals. By incorporating automation into your sales operations, you can attract these tech-savvy customers and capitalize on their rapid decision-making and purchasing tendencies.

Validating and Enhancing Data

A steady inflow of accurate data is paramount to boost efficiency and automation in your company. Sales order automation software harnesses intelligent data capture to convert messy, unstructured data into organized information, ready for secure storage and analysis. This solution not only identifies but also fixes errors automatically, ensuring smooth operations for your company and its interconnected systems.

Integrating Additional Technology

Sales order automation systems can also integrate or enable other technologies, further optimizing the process and facilitating your business’s digital transformation. These technologies include:

Optical Character Recognition (OCR):

OCR allows you to extract text from scanned documents and images and convert them into digital data.

Electronic Data Interchange (EDI):

EDI technology enables companies to exchange documents in a seamless, secure, and automated manner.

Customer Relationship Management (CRM):

Integrating sales order automation with CRM can help you better manage customer relationships, track sales activities, and streamline communication with timely updates.

Enterprise Resource Planning (ERP):

Integration with ERP allows sales orders to trigger updates to inventory, production, and financial systems, keeping your business in harmony.

E-Commerce:

Sales order automation is essential for online sales, ensuring orders can be processed swiftly and accurately with a single click.

Business Intelligence (BI):

Information from sales orders can be routed to tools that provide data-driven insights and analytics for effective strategic decision-making.

In Conclusion: The Need for Sales Order Automation

The business landscape is more competitive than ever, and to thrive, you need the right tools at your disposal. A sales order automation system can streamline all the manual tasks associated with the sales process, enabling your team to work more effectively and unlock new potentials to elevate your business.

Sales order automation is more than a time and cost-saving tool. With the right vendor, you can significantly improve data quality, cater to modern buyers, elevate employee morale, and adopt new digital technologies to stay competitive.

Adding value to your business, enhancing productivity in your process, and contributing to your bottom line – Mosaic’s Sales Order Automation is here to take the excess work and worry out of sales order entry, eliminating manual errors. Download the fact sheet and request a personalized demo.

Overcoming Resistance to Going Paperless: Strategies for Successful Adoption

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For many businesses, the switch to a paperless office is easier said than done. Despite the obvious benefits of moving to digital documents, such as cost-savings, environmental friendliness, and taking advantage of powerful organizational tools like document scanning software or secure cloud storage solutions – it can still be difficult overcoming resistance from employees who are set in their paper ways.

This blog post will provide strategies for the successful adoption of a paperless approach so that you can reap its rewards while alleviating any worries your staff may have. Read on to learn how modern technology can help you make going ‘digital’ an easy process!

Understanding the Resistance to Paperless Adoption

As the world continues to transition to digital systems, it’s no surprise that more and more offices are going paperless. However, not everyone is eager to jump onto this bandwagon, be it individuals or businesses.

One of the biggest reasons the majority of people or businesses resist paperless systems is the fear of technology. For those who are not tech-savvy, the thought of navigating complex systems and software can be daunting.

Additionally, there are concerns about the transition costs involved. Many businesses struggle with the idea of investing in new software and hardware, particularly when there are cheaper alternatives available.

Data security is another major issue for those who are hesitant to go paperless. With so many stories of cyber-attacks and data breaches in the news, it’s easy to see why anyone would be nervous about implementing a paperless system. Finally, changing established habits and routines can be incredibly difficult, even when there are clear benefits to doing so.

Ultimately, it’s important to understand these factors in order to address your paperless strategy and make the transition as smooth as possible.

Read more: What Exactly Does Going Paperless Mean for My Business?

Strategies for Overcoming Resistance to Paperless Adoption

Let’s break down each of these above fears to get to the root of the problem and identify how going paperless is something to be excited about–not scared of! Here are some effective strategies for addressing each electronic adoption fear.

Addressing Fear of Technology

In today’s high-tech world, it’s not uncommon for some individuals to feel intimidated or fearful of technology. Fortunately, there are several strategies for addressing this fear and empowering people to become more confident and proficient with digital tools.

One effective approach is to provide training sessions, whether in-person or online, that can help individuals gain a better understanding of technology’s various features and functions. Another helpful tactic is to offer resources for self-learning, such as video tutorials, online courses, or user manuals.

Finally, showcasing success stories of other companies or individuals who have overcome their fear of technology can provide valuable inspiration and motivation for those who are still hesitant.

A digital transformation consultant can provide these resources and guidance to make the education process easier for your team.

Discussing Perceived High Transition Costs

Making the switch from paper-based operations to digital processes can seem like a daunting task, especially when it comes to the perceived high transition costs. When discussing this with your team, it’s important to highlight the long-term savings that can come from going paperless.

By eliminating the need for printing, storing, and distributing paper documents, your business can save time and money in the long run, while getting rid of bothersome paper clutter. Additionally, there are government incentives and tax breaks available for businesses that make the switch to digital processes. Sharing this information with your team can help alleviate concerns about the cost.

Lastly, it’s worth showcasing the many affordable and efficient digital solutions that are on the market today. With the right tools, the transition to a paperless workplace can be seamless and cost-effective.

Read more: ROI for Going Paperless

Handling Concerns About Data Security

As more and more businesses move towards paperless operations, concerns about data security have become a top priority. Luckily, advancements in technology have also led to increased capabilities for protecting sensitive information.

Secure storage solutions, such as cloud-based systems with strong encryption, provide peace of mind for businesses and their clients, as opposed to paper documents which are nearly impossible to keep secure.

Additionally, backup systems and two-factor authentication can further enhance security measures.

Though fears about data breaches are understandable, it’s important to stay informed about the latest advances in data security and to implement the best practices to keep your team and your client’s information safe.

Changing Established Habits and Routines

Change can be difficult, especially when it means altering established habits and routines. However, digital transformation can be crucial for the success of a company. So, how can you address your team’s fears and engage them in the process of going paperless?

The answer lies in change management techniques. By taking a gradual approach and establishing a clear transition plan, you can help your employees feel more comfortable about the change. It’s also crucial to involve them in the process and make sure they understand the benefits of going digital. With the right approach, you can make the transition to a paperless workplace smooth and successful.

Go Paperless Today with Mosaic

In conclusion, it is crucial for businesses to overcome resistance and embrace the transition to a paperless work environment. As we have discussed throughout this article, the benefits of going paperless are numerous and far-reaching. From cost savings to increased efficiency, and from improved data security to a reduced environmental footprint, there are so many reasons why making the switch makes sense.

That said, we understand that change can be difficult, and that’s where Mosaic comes in. Our team of experts is here to help guide you through every step of the process, from digitizing your documents to implementing new software and processes. So don’t let fear hold you back – take that first step today and join the paperless revolution. Let’s eliminate the burden of paper together!

Contact Us to meet with a paperless consultant today.

If your business is in the utility and energy sector, check out our blog post Benefits of Going Paperless for Utility and Energy Companies.

3 Steps for Successful Digital Transformation in Convenience Stores

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Are you looking to take your convenience store or grocery store into the digital age? As technology advances, customers are expecting more than ever from their shopping experience – and failure to deliver could mean a loss of loyalty. But don’t worry; the process doesn’t need to be complicated or expensive. With the right strategy in place, you can transform your convenience store quickly and effectively.

In this blog post, we’ll explore three steps for successful digital transformation in convenience stores. Read on to learn how modernizing your operations can translate into improved sales!

The Impact of the COVID-19 Pandemic on the Convenience Store Industry

The convenience store industry was not immune to the impact of the COVID-19 pandemic. As people stayed home and businesses struggled to adapt, the need to adopt digital transformation trends and strategies became even more apparent. Businesses that had already embraced data-driven decision-making were able to pivot quickly and optimize their operations in response to the changing market conditions. 

This blog outlines the key steps necessary for successful digital transformation, emphasizing the importance of selecting the right people, building efficient processes, and implementing the right systems. By doing so, convenience stores can leverage data for actionable analytics and stay competitive in the digital era.

It’s an exciting time of growth and evolution in the industry, and those who embrace digitization are poised to reap the benefits.

The Must-Dos in the Digital Transformation Journey

If you weren’t one of those businesses to quickly adopt digital transformation strategies in your convenience store since the onset of the pandemic, it’s not too late! Here are the 3 steps you must take to ensure successful digital transformation:

Step 1: People

The digital transformation journey is not one that can be navigated alone. Your team plays a critical role in its success. That’s why choosing the right people is step one in the process.

Not only must employees possess the right skillsets and experience, but they must also fully understand their roles and the goals of the transformation. After all, everyone must be aligned in order to effectively execute the strategy.

As a retailer, you may be wondering what questions you should ask yourself when selecting your team – and that’s a great place to start. Here are some questions to pose for your current or new team members and your digital transformation consultant:

  • What experience do my team members have in the retail sector?
  • How well do they understand the digital transformation process?
  • Are they capable of leading a team and helping them to reach their goals?
  • Do I need additional staff or resources to achieve our desired outcomes?

Taking the time to carefully consider who you want to join you on this journey can make all the difference in achieving a successful digital transformation.

Read more: How To Get Your Employees Excited About Digital Transformation.

Step 2: Process

As businesses embark on their digital transformation journey, understanding the importance of process is critical. One of the biggest challenges in this step is transitioning from manual processes to digital processes.

It takes time and resources to build new systems and incorporate technology into existing workflows. However, the potential benefits of doing so are vast. By embracing technology, businesses can capture valuable data points that can be used to inform decisions and drive growth.

To make the most of this step, retailers should ask themselves important questions about their processes:

By answering these questions, businesses can move closer to realizing their digital transformation goals.

Step 3: Systems

The final step in achieving a successful digital transformation for convenience stores is all about systems. It’s no secret that data plays a huge role in this process, and having the right systems in place to manage and analyze that data is crucial. But it’s not just about having systems – it’s about using them to their full potential.

Retailers need to be able to turn the data they capture into actionable insights that can inform business decisions and improve operations. That’s why it’s important to ask yourself the right questions when implementing these systems, such as:

  • What data do we really need to collect?
  • How can we make sure our analytics are actually driving growth and profitability?
  • What systems do we need to put in place to ensure data accuracy?

By taking a thoughtful, strategic approach to systems, convenience stores can unlock the full potential of their digital transformation journey.

The Importance of These Three Core Digital Transformation Elements

In any journey toward digital transformation, organizations need to have the right people, processes, and systems in place. These three core elements are crucial for any business looking to achieve success in the digital space. Without them, it is practically impossible to implement a digital transformation strategy that delivers on intended business outcomes.

The lack of these elements can have a serious impact on achieving a successful digital transformation. As organizations grow, the digital transformation journey must continue to evolve and redefine its objectives. Moving the goalposts helps ensure that the journey remains on track, providing the organization with a clear path to achieving its digital goals.

As the world is rapidly changing, convenience store operators must shift their strategies and embrace digitization in order to provide personalized shopping experiences for their customers. Implementing digital solutions such as mobile ordering and contactless payments would bring more convenience and efficiency to customers, which will result in increased profits from sales.

Furthermore, using advanced technologies such as artificial intelligence and machine learning can further improve the customer experience by providing convenience store operators with better insights into customer preferences and buying behaviors.

Going digital should be a priority for any convenience store that wants to stay competitive in today’s market. At Mosaic, we value helping our clients reach success! We provide solutions for digital transformation, so please don’t hesitate to contact us if you have any questions or need advice on taking steps toward going digital. Our team of professionals is here to help – let us show you what digital transformation can do for your business today!

For more information on how to jumpstart your digital transformation journey at your convenience store check out our offerings for maximizing your ERP investment.

What is Robotic Process Automation?

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It’s time to modernize your workflows and replace cumbersome paper processes, and Robotic Process Automation (RPA) is the solution for you.

In today’s digital landscape, businesses are turning to Robotic Process Automation (RPA) to optimize their operations and drive digital transformation. RPA is a rapidly growing technology set that eliminates manual labor associated with mundane tasks, streamlining daily operations and giving businesses an edge in data accuracy.

Read on to learn more about how Mosaic’s process automation software can help redefine how companies approach their business workflows and bring them into the 21st century!

Understanding Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is a term that has been gaining popularity in recent years, especially in the world of business.

RPA is essentially a technology that uses software robots to automate tasks that are traditionally done by humans. These robots mimic the actions of human workers and can be programmed with machine learning capabilities to perform a variety of complex tasks, ranging from data entry to customer service.

The benefits of RPA are numerous, including increased efficiency, accuracy, and cost savings. Companies that have implemented RPA have seen significant improvements in their operations and can redeploy their human resources to more strategic tasks.

Understanding RPA is essential for any business looking to stay competitive and efficient in today’s fast-paced environment.

Unparallelled Cost-Saving from RPA

Robotic Process Automation (RPA) has become a game-changer for businesses aiming to save costs without sacrificing efficiency and accuracy.

By automating repetitive, high-volume tasks with RPA, companies can drastically reduce the time and resources needed to complete them. This leads to a faster turnaround time and increased productivity, which in turn results in significant cost savings.

But it’s not just about efficiency. RPA is also known for its accuracy, eliminating the margin of error caused by human error. Moreover, RPA can help ensure compliance as it follows pre-determined rules and regulations. So, if your business is looking for a way to save costs while improving efficiency, accuracy, and compliance, RPA is the way to go.

Read More: ROI For Going Paperless

Robotic Process Automation Use Cases

From streamlining accounts payable processes to automating sales order processing and even HR processes, RPA has proved to be a game-changer for businesses across different industries. Freight process automation has also gained traction as businesses seek to optimize their supply chain and logistics operations.

RPA has also revolutionized enterprise content management (ECM) solutions, enabling businesses to capture, process, and manage huge volumes of data with ease. Other innovative RPA applications include Intelligent Document Capture (IDC) solutions and ERP integration services that help businesses unlock the full potential of their IT systems.

1 AP Automation

Accounts payable (AP) processes can be tedious and time-consuming, especially for companies that process a high volume of invoices. With RPA technology, businesses can automate the entire accounts payable process, reducing the risk of human error and drastically improving efficiency and lowering the cost per invoice processing dramatically.

2 Sales Order Automation

The sales process is vital for any business, and workflow automation can be used to streamline the entire process. RPA can automate tasks such as data entry, customer service inquiries, and order processing, saving time and resources.

3 HR Automation

The human resources (HR) department is often bogged down by repetitive tasks, making it difficult to focus on more pressing matters. HR automation and RPA can lighten the load by automating administrative tasks such as payroll and employee onboarding.

4 Freight Process Automation

The freight process is complex and requires a great deal of planning. With RPA, businesses can automate the entire freight process, making it faster and easier to manage. Automation can also help with billing, tracking shipments, and optimizing routes.

5 ECM Solutions

Enterprise content management (ECM) solutions are used to store and manage digital documents. RPA can help automate the entire process, from document capture to storage and retrieval. Automating ECM processes helps ensure compliance with industry regulations while also improving efficiency.

6 IDC Solutions

Identity and access management (IDC) solutions are necessary for any company that needs to protect its data. RPA automation can help with security audits and compliance, as well as user provisioning and verification processes.

7 ERP Integration Services

ERP integration services are essential for businesses that need to manage their data and ensure its accuracy. RPA can be used to automate the entire process, from data entry to report generation. This helps businesses stay organized and reduces the risk of errors.

In a nutshell, RPA use cases are endless, and the technology is set to continue transforming the way businesses operate.

Start Your Digital Transformation Journey Today!

In today’s rapidly evolving business landscape, there’s no denying that digital transformation is crucial for success. As we discussed, a key tool in this process is Robotic Process Automation (RPA), which can streamline repetitive manual tasks and free up employee time for higher-value work. By implementing RPA, businesses can become more efficient, reduce costs, and improve the overall customer experience.

If you’re interested in learning more about RPA and how it can benefit your organization, don’t hesitate to talk to the experts at Mosaic. We can help you assess your needs and develop a customized strategy to take your digital transformation to the next level. Contact Us Today to optimize your business operations and stay ahead of the competition!

Want to learn more? We wrote a comprehensive guide on Understanding Digital Transformation: Definition, Benefits, and Opportunities.

Leveraging Optical Character Recognition (OCR) and Robotic Process Automation (RPA) To Optimize Your Business Workflow

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Are you a business leader who’s tired of dealing with endless paperwork and growing piles of forms? Paper-based processes can be cumbersome, time-consuming, and costly. But there are technologies that are revolutionizing business workflows: Optical Character Recognition (OCR) and Robotic Process Automation (RPA). With OCR, your documents are quickly scanned and key data captured to eliminate manual data entry, streamline document processing and facilitate digital workflows.

Integrating OCR into your business workflow enables you to quickly capture, process, and store documents, whether paper-based or digital. Instead of manually entering data from forms, OCR can automatically identify and extract the text from each document for easy retrieval.

In this blog post, we’ll discuss how integrating OCR into your workflow could be the key to fully optimizing your business operations.

Understanding OCR and RPA Technologies

As digital technology continues to evolve, businesses are turning to automation solutions to help streamline their processes. One such technology that has gained significant attention in recent years is Optical Character Recognition. OCR plays a vital role in automating document management processing by scanning and converting it into digital data that can be easily edited and managed.

This technology has revolutionized the way businesses handle their paper documents, allowing for faster processing and improved accuracy with the transition to digital files.

However, OCR alone is not enough to achieve maximum efficiency. That’s where RPA, or Robotic Process Automation, comes into play. By integrating RPA with OCR technology, businesses can automate the entire document processing workflow, from document capture to data extraction and processing. Together, these technologies offer a powerful solution for businesses looking to streamline their operations and reduce errors from manual labor.

Traditional OCR vs. OCR Embedded into RPA

OCR technology has come a long way since its inception, and now it is evolving to integrate into robotic process automation (RPA). The traditional OCR approach can be time-consuming and produce errors, forcing users to manually correct the system. However, OCR embedded into RPA offers increased accuracy and faster processing times.

The benefits of this integrated approach are clear. Automation becomes more effective and requires less human oversight, freeing up time and resources for other critical business functions. OCR integrated into RPA is the future of these technologies and a promising advancement in the field of automation.

How OCR and RPA Work Together

OCR and RPA technologies complement each other perfectly to streamline and automate digital document processing. OCR technology is designed to read and interpret characters in scanned documents. RPA automates tasks that traditionally require human decision-making, such as processing invoices, claims, or contracts.

By combining these technologies, businesses can dramatically reduce manual labor while increasing accuracy and efficiency. RPA can enhance OCR technology by automatically routing scanned documents to the right department, verifying the data entered by OCR, and updating databases in real time.

This means that manual data correction and verification will no longer be necessary, allowing your team to focus on higher-value activities that require human expertise.

Read more: The Legal Implications of Outdated Processes: How Paper-Based Workflows Can Lead to Compliance Risks.

The Self-Learning Advantage of IDC

IDC, or Intelligent Data Capture, is a powerful solution that combines the strengths of Optical Character Recognition (OCR) and Robotic Process Automation (RPA) to create an advanced data extraction system tailored for modern businesses. By integrating surrounding programming and additional automation, RPA enhances the OCR data lifting engine, making it faster, more precise, and continuously smarter as it learns from its mistakes.

IDC, as the name suggests, elevates the document management process by offering a truly “intelligent” solution that adapts to your unique business needs. Don’t let your business lag behind in the era of digital transformation; take advantage of the powerful capabilities of Intelligent Data Capture and redefine your document processing workflows.

Now is the time to experience the benefits of IDC for your business. Streamline your operations, minimize errors, and unlock valuable time for your team to focus on what truly matters: driving growth and success. Embrace the future of document management by implementing Intelligent Data Capture in your business workflow. Reach out to our experts today and let us help you transform the way you manage documents and data, maximizing productivity, and ensuring long-term success.

The Legal Implications of Outdated Processes: How Paper-Based Workflows can Lead to Compliance Risks

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If you have lingering paper-based processes in your organization—either deliberately or simply by default—it’s time to take this opportunity to consider the legal implications associated with your outdated practices. Challenges related to compliance risks can catch up quickly if the right safety nets aren’t put into place, so it pays to know what they are before any issues arise.

Efficiency is a crucial element of any successful business operation, which is why companies must optimize their workflows.

Digitization is the key to achieving this optimization, allowing businesses to streamline their processes and ultimately accelerate their growth.

In today’s digital world, paper-based processes can no longer keep up with the pace of progress. Outdated systems pose a serious legal risk to companies, as they are more prone to errors, mismanagement, and even fraud. By transitioning to digital workflows, companies can mitigate these risks while enjoying the many benefits that come with an efficient, automated system. With the right tools and strategies, businesses can take full advantage of the revolutionary potential of digitization, setting themselves up for success in the years to come.

In today's digital world, paper-based processes can no longer keep up with the pace of progress.

This blog will go over the importance of digitization and workflow automation, the legal risks associated with paper-based processes, and provide tips for implementing digitization and automation successfully to reduce legal risks and improve organizational efficiency so you can stay on the good side of the law!

The Legal Risks of Outdated Processes

As technology continues to advance, businesses are under pressure to digitize their processes to keep up with the competition. However, the legal risks associated with outdated, paper-based processes are often overlooked. Failure to comply with legal regulations can have serious consequences, including costly fines and legal action.

The US Government has officially sanctioned that document images are just as valid legal evidence as physical documents ever since the law was passed in 1996

Therefore, it is imperative to never attempt to keep both an image database and physical record storage running simultaneously because this could lead to problematic outcomes during litigation. 

To remain compliant with the law, if a plaintiff’s attorney requires access to documents that exist in both physical documents and image formats, you must provide them with both versions. Discrepancies between two archives could lead to your entire collection of documents being called into question – thus it is important to only keep an archive based on images within your document management system. By taking precautionary measures such as this one, you can ensure there are no issues during litigation procedures.

In addition, the negative impact on a company’s reputation cannot be overstated. When your company faces legal trouble, your business will also damage customer loyalty. Companies must assess their processes regularly and update them to stay compliant with legal regulations. Otherwise, they run the business risk of facing legal consequences that can threaten their future success.

The Benefits of Digitization and Workflow Automation

In today’s fast-paced world, businesses are increasingly relying on digitization and workflow automation to streamline their processes and implement risk management. By eliminating the need for paper-based workflows and manual data entry, companies can significantly minimize the likelihood of errors and omissions in compliance with legal requirements.

Digitization and automation can also help companies stay up to date with changing regulations, as software is easier to update than manual processes.

Additionally, automation reduces human error, which is the leading cause of legal trouble for most organizations. By leveraging the benefits of digitization and workflow automation, companies can operate more efficiently, while minimizing legal risks and improving compliance.

How to Implement Digitization and Workflow Automation

This process of digitization and workflow automation is incredibly beneficial for increasing efficiency and reducing costs. However, it can also present its fair share of challenges if you don’t do your research and choose the right digital partner. Implementation can be time-consuming and there may be resistance from employees who are used to working with paper.

To overcome these challenges, thorough planning and communication are necessary. Additionally, it’s important to select the right digital tools and software for your organization’s unique needs. Take the time to meet with a few different digital consultants to discuss your needs. By following these tips and taking a thoughtful approach to implementation, digitization and workflow automation can be successfully integrated into any business model.

How to Get Started

In today’s rapidly evolving business landscape, decision-makers cannot afford to overlook the legal risks associated with using outdated processes. Whether it’s failing to comply with data protection regulations or inefficient contract management, companies that rely on manual methods are at a significant disadvantage.

That’s why digitization and workflow automation has become essential for streamlining operations, minimizing errors, and mitigating legal risks. By implementing modern technologies, decision-makers can ensure that their processes are up-to-date, efficient, and secure. From cloud-based document management systems to AI-powered contract analytics, there are various tools available to help companies embrace digital transformation. By leveraging advanced technologies, decision-makers can improve their processes and reduce legal risks while gaining a competitive edge in their industries.

Our digital transformation consultants at Mosaic are experts at helping companies of all sizes implement digital processes and reduce legal risk.

The Benefits of Integrating Your ERP System with a Document Management System

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Are you looking to minimize paperwork and streamline your company’s processes? Are errors caused by paper-based methods eating away at your profits? It’s time to go paperless by integrating your Enterprise Resource Planning (ERP) system with a Document Management Solution.

In this blog post, we’ll explore the benefits of joining these two powerful systems together to create a more efficient workflow that will reduce labor costs, improve data accuracy and integrity, streamline workflows, increase efficiency and productivity, enhance customer experience, and deliver better reporting and analytics.

You won’t believe what’s possible when these two tools come together!

The Perfect Operational Match: ERP and Document Management Systems

Enterprise Resource Planning (ERP) systems are computer programs designed to streamline and automate the operational activities of a business. ERP systems reduce costs, improve productivity, and create agility in the organization., enabling businesses to be more organized and efficient. But an ERP system alone won’t take your business to the next level, you need a document management solution.

Document management solutions provide vast advantages for businesses when integrated with enterprise resource planning (ERP) systems such as efficient document archiving, user access permission controls, and automatic workflow documentation.

Document management solutions securely store and share digital versions of documents while still offering full access control for reviews or updates.

Integrating document management solutions with ERP systems unlocks further efficiencies by creating an all-in-one system that allows employees to quickly design personalized documents, capture signatures electronically, and collaborate on projects in a fraction of the time. Companies gain significant cost savings and increased efficiency through the effective integration of both technologies.

Learn more: All About Integrating your ERP with your ECM

Improved Data Accuracy and Integrity

Businesses must have accurate data at all times for decisions to be sound and effective. By combining an Enterprise Resource Planning (ERP) system with a Document Management System (DMS), businesses ensure the accuracy and integrity of the data they collect.

A DMS integration has advantages, such as simplifying document management processes, shrinking associated costs, optimizing resources, improving customer service and experience, and automating notifications or workflows related to your business operations.

Working with an integrated ERP-DMS system ensures that organizational processes become more fluid, reliable, and fast.

Combining such systems also minimizes errors as all parties involved in the process are provided with automated tasks that help them stay updated on established processes.

Streamlined Workflows

Streamlined workflows provided by an integrated system enable businesses to increase the efficiency of their daily processes and make the workplace more productive. Automating systems constantly checking for errors and omissions, during manual entries allows for faster turnaround times on tasks, fewer mistakes, and streamlined communication between departments.

Taking full advantage of the power of an integrated system can eliminate a large proportion of menial entry-level tasks, drastically reducing the time taken to complete certain workflows. As a result of this reduced time spent on workflows, employees are freed from tedious manual labor and empowered to spend time on more creative or higher-level endeavors.

Increased Efficiency and Productivity

Several businesses are enjoying the rewards of a Document Management System integration by reducing effort duplication and improving collaboration. An efficient document management system means people can work smarter and faster, saving time and money with optimized document storage. For instance, if a team member needs access to data they can quickly search for it instead of having to go through multiple storage spaces looking for it.

Additionally, automated processes within the system mean that employees can spend their time on other core tasks by taking away tedious manual labor associated with documents.

Enhanced Customer Experience

Faster responses and improved data collection have become paramount factors in retaining current customers and building brand loyalty. In today’s hyper-competitive environment, businesses need to respond quickly to consumer queries and inquiries to demonstrate customer-centricity.

Additionally, having access to detailed customer data enables businesses to create personalized customer experiences and communication strategies.

For savvy business owners looking to exceed the expectations of their customers, enhanced customer experience truly can be a powerful tool for creating an interactive relationship with your clientele.

Ultimately, this will lead to loyal customers who are more likely to return again and again!

Revolutionize Your Business

Integrating your ERP system with a Document Management Solution can revolutionize the way your business operates. By reducing labor costs, improving data accuracy and integrity, streamlining workflows, increasing efficiency and productivity, enhancing customer experience, and delivering better reporting and analytics, you can take your business to the next level. 

At Mosaic, we understand the importance of a strong technology stack that integrates seamlessly with your business processes. Contact us today to learn more about how we can help you implement a successful ERP and Document Management integration and start reaping the benefits of a more efficient and streamlined business. Let’s work together to take your business to new heights!

Understanding Digital Transformation: Definition, Benefits, and Opportunities

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Digital transformation is a term you may be hearing a lot these days, and for good reason. According to recent studies and market analyses, in 2022, the global digital transformation market was valued at an impressive USD 731.13 billion, with a projected compound annual growth rate of 26.7% between 2023 and 2030. This remarkable growth is largely due to the trend of adoption of advanced technologies such as cloud computing, big data analytics and Artificial Intelligence (AI) across businesses worldwide – regardless of their size or stature.

But what exactly is digital transformation and how can it benefit your business? Whether your company is deep into its digital innovation efforts or if this is your first time hearing about the topic, we’ve provided a deep dive into the buzz around digital transformation.

Keep reading for a breakdown of why digital transformation is more important than ever and how to implement digital strategies that will improve your organization’s customer experience and general workflow in the modern era.

Digital Transformation Definition

Digital transformation is defined as the integration of digital technologies into new or existing business processes. This transformation is enabled through the use of cloud computing, AI, Big Data analytics and other advanced technologies. The goal is to create improved customer experiences and optimize internal operations.

To understand digital transformation, we first need to understand two other key terms: digitization and digitalization:

Digitization is the process of converting data and information into digital format (e.g., 0’s and 1’s). This conversion makes it easier to store, access, analyze and share information on a larger scale. Digitization can be applied to any form of content or data such as text files, images, documents, audio files and videos.

Digitalization on the other hand, is the process of using digital technologies to enable new or improved products, services and processes. Digitalization involves the combination of digitized data, analytics and automation to drive decision-making and business operations.

Digital transformation brings digitization and digitalization together as it involves the integration of digital technologies into existing business processes in order to improve efficiency and generate new opportunities. Digital transformation can be applied to any industry, from retail to healthcare and finance to education. In every case, its purpose is to create a more efficient and customer-centric organization.

Let’s dig a little deeper with some help from DocStar:

What digital transformation isn’t is technology alone – it’s strategy.

The technology will continually evolve to incorporate business process automation, robotic process automation, and artificial intelligence. Focusing on one or more of these or other technologies is shortsighted – it’s the way you implement these technologies that’s important. […] digital transformation can’t just focus on the online world – it needs to bridge the gap between online and offline.

It should incorporate the enterprise, supply chain, partners, customers, and employees in terms of strategy and execution.”

DocStar summed it up pretty well and cleared up a lot of confusion around this term. Many people hear “digital transformation” and think of merely digitizing their paper files into electronic documents or shopping online with a TikTok account for marketing purposes, but digital transformation involves incorporating multiple forms of digital technology, software, and artificial intelligence into daily business processes.

Digital transformation is all about the bigger picture of modernization at every level of the organization.

Within a digital transformation framework, technology and software are implemented to make processes easier for everyone from the CEO to the new hire to the customer. These modernization strategies are also built to grow with your company and your customers as you expand and as new digital innovations are made.

Why Digital Transformation Adoption Matters in 2023

Digital transformation is transforming the way businesses interact with customers, suppliers and partners. It is not a trend that can be ignored since it provides significant competitive advantages to those companies willing and able to harness its potential.

For instance, advancing cloud technology and mobile applications are revolutionizing the customer user experience as well as allowing real-time data collection. Long-term consumer behavior changes such as widespread acceptance of one-click payments or streaming services, for example, are helping catalyze digital transformations in many industries, from retail enterprises to health care providers.

By embracing the digital transformation tide now, businesses can turbocharge their organizational performance levels and propel themselves into today’s rapidly changing business world. Your business can no longer ignore the push towards digital transformation if you want to stay competitive in 2023. The time is now to leverage the technology and strategies available to create a more efficient, customer-centric organization.

Read more: Stop Delaying Your Digital Transformation.

The Benefits of Digital Transformation

Digital transformation provides businesses with the opportunity to unlock new revenue streams, reduce operational costs, and communicate better with customers. By taking advantage of digital technologies such as automation software, cloud computing, and analytics tools – combined with a comprehensive strategy – companies will be able to drive innovation in their processes and offer more value to customers.

In addition to these strategic advantages, digital transformation will provide business leaders with unprecedented visibility and insights into their operations. Through automation, predictive analytics, and machine learning, teams can gain insight into customer behaviors and trends in order to better serve their customers.

Take Nike for example. Nike has long dominated the athletic-wear space, but in recent years has made significant moves to adopt a more digital-first strategy. From connected apparel to their Nike app and even their new artificial intelligence assistant, it’s clear that Nike is leveraging the power of digital transformation to stay ahead of the competition. They have always been on top, but we can now be certain that their use of predictive analytics and customer behavior insights will keep them at number 1.

Dominoes is another example. They have recently invested heavily in a suite of digital technologies to enhance their customer experience. Their website now features an interactive map that allows you to see where your delivery is located, as well as a feature that enables you to track your order status in real-time. There’s even an artificial intelligence-powered virtual assistant available on the Domino's website. These digital transformation strategies have helped them meet customer demands and compete with food delivery apps like DoorDash and UberEats which took over the market because of their superb digital interface and customer experience features.

The Acceleration of Innovation

Innovations in technology have accelerated at an all-time high since the invention of the computer and the mobile phone. Businesses and society have imagined new ways of connecting, solving problems, and speeding up procedures. Within only the past year we have seen a huge acceleration in technology and digital software with the onset of the Covid-19 pandemic as the world had to imagine a new way of living, working, and connecting.

These trends in digital innovation will only continue into the future and it’s better to hop on board than be left in the dust. A 2019 study showed that 70% of organizations have a digital transformation strategy or are working on one. Now that we’ve reached a post-pandemic 2023, those numbers are likely even higher. The sad truth is that businesses that aren’t leaning into digital initiatives will be left behind.

70% of organizations have a digital transformation strategy or are working on one.

Your organization needs to adapt to new technology and the ever-changing digital status quo or you risk losing consumers who have outgrown aged business models and practices. But don’t stress! This is a situation that all business owners are facing, so you aren’t alone. Instead of fearing the future of digital transformation, it’s time to welcome it with open arms as we imagine new possibilities.

Imagine Innovations in your Business Capabilities

Digital transformation is all about getting creative and imagining innovations in your business capabilities with the help of technology. This is the time to brainstorm what you can improve about your business processes.

Take a deep dive into what is and isn’t working in your various business models and processes. What can you do to speed up manufacturing or deliveries? How can you give customers a better-personalized experience? What smart technologies have you read about recently that can be utilized in your business? Posing these questions to your team in all departments will begin to cook up some new ideas that will only benefit your organization’s growth.

The top benefits of adopting a digital model include improving operational efficiency, meeting customer expectations, and improving new product quality. Consider these areas while you analyze your business models, products, and workflows.

Let’s look at some opportunities for digital transformation in different industries:

Healthcare

  • Telehealth services
  • Automated medical data tracking and analysis
  • AI-driven clinical decision support

Retail

  • Automated shelf stocking and inventory management
  • Customer experience personalization through AI technology
  • Virtual reality shopping experiences

Finance

  • Automated KYC (Know Your Customer) processes
  • Digital identity verification systems
  • Risk scoring & fraud prevention

Education

  • Virtual classrooms
  • Remote tutoring services
  • AI and data analytics to personalize learning

Construction

  • Augmented reality site mapping
  • Predictive analytics for material and labor costs
  • Digital project tracking and monitoring

Manufacturing

  • Robotics
  • 3D Printing
  • Inventory tracking and management

Utility and Energy

  • Smart grid systems
  • Real-time energy usage tracking
  • Predictive analytics for maintenance needs

No matter what industry you’re in, digital transformation is essential if you want to stay competitive. Once you can take a deep look at your company as it stands right now, you can begin to envision how it can grow with the acceleration of innovation. With that vision, you can set goals and take concrete steps in your digital transformation journey.

Read more: Benefits of Going Paperless for Utility and Energy Companies.

Setting Digital Transformation Goals for Your Company

Once you have a vision of your company’s digital future, you can begin to set goals. Transformation doesn’t happen in a day but planning that digital transformation can start right now.

What do you want your company to look like in a year? Sometimes it’s easier to break up your digital transformation initiative goals by the department. Once you have that vision for faster procedures on the manufacturing end or more personalized customer experiences for your consumer basis, you can set goals for each department and your company as a goal.

Remember that digital transformation isn’t merely one step in modernization, it is the collection of new technologies and software working together in different areas of your business to improve overall efficiency so that you can grow with modernization. This is why you should set digital technology goals within each department and for your company as a whole.

By the year 2025, where do you want to stand? Do you want your company to be an industry leader? Do you want to increase revenue by X amount? Do you want to penetrate the eCommerce market? Create a smoother onboarding employee experience?

In 2018, studies showed that 39% of executives expected to benefit from their digital transformation initiatives in 3 to 5 years. The companies that are benefiting today are the companies that set goals for this week and goals for years from now. Thinking ahead prepares you for the future as innovation accelerates. Set some goals, big and small, and then you can find some partners and strategies for a successful transformation.

Develop a Digital Transformation Strategy

Developing a digital transformation strategy is a team effort. This is where research, collaboration, and partnerships come in. You may have imagined a vision for your company and set some goals, but tackling the digital transformation process comes with challenges on all fronts. Different aspects of business require a unique modernization strategy.

Many companies fall short in their digital transformation efforts for several common challenges: they lack direction and they try to do it all themselves.

The digital transformation market is booming right now because experts in the field have partnered with various businesses to help them modernize their procedures and practices.

To be successful, your company must take guidance and support from digital transformation leaders.

The partnerships that you make in your digital business transformation strategy will play a key role in your overall transformation. Digital leaders who are responsible for the accelerators of innovation know the ins and outs of end-user experiences and they can also offer predictive maintenance for new market demands. These partners may also see opportunities for new digital capabilities within your company that you didn’t even know were possible while helping you face digital transformation challenges.

Talk to your IT department, shop around for a marketing agency, appoint staff to transformation-specific roles, and look into automation and AI companies.

Your organization’s digital strategy can only benefit from B2B deals that let you focus on running your company while your partners help you run it better for the digital future.

Digital Transformation Success Stories

When we think of the real success stories in digital transformation a few companies come to mind. Netflix is one of the best digital transformation examples. Netflix could have easily died along with Blockbuster movie rental stores, but instead, Netflix imagined new possibilities in their business strategy and successfully developed a digital platform with the user experience in mind.

The companies that have the most successful transformation hone in on the digital experience and remain on their toes, quick to adapt to consumer needs.

Netflix adapted to the market demands and created a new status quo in streaming services. Companies like Amazon also made huge strides in customer experience optimization with a modernization strategy that has changed the way we shop from physical stores to eCommerce.

True industry leaders know how to focus on customer experience systems by leaning into innovation and digital technology. The ability to think outside the box and welcome new solutions will create a better future for businesses and consumers.

We Can Help

At Mosaic, we are here to help you begin your digital journey and lay the building blocks for true transformation. As you partner with other companies in more advanced technologies, you will need your accounts payable department to be functioning with top speed and accuracy.

Contact Us today to meet with a digital transformation consultant.