Majority (84%) Small Businesses Risk Errors, Opportunity for Automation


A good number of small businesses still maintain significantly offline operations. A new study from Wakefield Research and Concur shows that up to 84% of small businesses still use manual processes to run their daily tasks. This is relatively high considering that the world has greatly become digitalized. Today, automated systems are easily available, often at reasonable cost. It may be cool sending a handwritten note to appreciate faithful clients; but scribbling your invoice on a piece of paper could leave you vulnerable to errors.

Do you own a small business that functions relatively manually? It is probably time to consider upgrading to an automated system for simple processes. Manually running your business is not the worse idea on earth. However, it can add up to a lot of stress entering data into a log file or Excel spreadsheets. Also, you risk making errors that could be devastating to the business. And if stress and the vulnerability to errors are not reasons enough to make you consider upgrading your business, think of all the time and energy spent, it adds up.

According to the Wakefield Research and Concur study, manual processes (like writing down data) can result in major setbacks like unnecessary delays and businesses experiencing errors in  reconciling invoices. Every good business owner will confirm that time is money. In business, delays can be very costly; processing delays and late payments can make a promising business fail. Automating your business can therefore be a great idea.

Despite the benefits, some small business owners simply prefer to remain manual in the running of their business. While there is absolutely nothing wrong with that, CoverWallet recommends you consider automating the tracking of your certificates of insurance. This is a simple solution to reduce the potential for errors and risks. And there are also simplified insurance solutions to address a variety of risks, such as a Business Owners Policy (BOP). With a BOP, you have the ability to combine multiple coverages to protect yourself and your business.

It can be really painful when you incur losses in your business. Small businesses especially can collapse should they face losses as a result of errors that can easily be avoided. If you are a small business owner, it is simple for you to limit these errors by upgrading your business operations from manual to automatic.  To be even safer, consider automating the tracking of your certificates of insurance, and going for a combined Business Owners Policy (BOP).   

Discussions — 3 Responses

  • smartfashionbuyinghouse May 17, 2017 on 8:13 am

    nice taipe maction .. Every good business owner will confirm that time is money. In business, delays can be very costly

    Reply
  • Arnob Endry May 17, 2017 on 8:13 am

    you risk making errors that could be devastating to the business.

    Reply
  • Aniton dosh May 17, 2017 on 8:15 am

    This is relatively high considering that the world has greatly become digitalized.

    Reply