Updated: Feb 24
What does it mean to say "I want my business automated via IT development"? Well, the aim for every company surely is to be efficient, reduce their staff resourcing, have a person at the back of the room saying, "ive clicked the button, everything has been processed for the day, have the rest of the day off guys, thanks for coming in..."
Unfortunately not exactly reality, but the aim of good quality software development is to make the processes simple, easy to understand and very efficient for the users e.g. How long does it take to make a simple bank payment? Hopefully, you have thought longer than a person logging into a bank account, entering the beneficiary's bank details and clicking pay. If you did then you might want to re-assess your process. Your answer should be more like the following:
Receive request to make a payment to a beneficiary
If you have never paid this beneficiary before, you need to run full due dilligance on the beneficiary and their bank. If you have paid this beneficiary before, have their bank details handy (and make sure they are using the same bank account as before)
Once your happy you are paying a valid person, run the checks through your compliance team
Double check the payment details are correct (sometime the requester of the payment has entered incorrect bank details)
Maybe some four-eye checks on this payment is required (who takes responsibility for that 1 million pounds payment?)
Finally ready to make that payment? OK, lets log into the bank portal (got to get my keyfob out or whatever other security is required for me to log into the bank).
Check the account, ive got enough so I will enter the bank details using my correct beneficiary name, sort-code and account number (or SWIFT code and IBAN) and make the payment.
Super! All done. Just 30 more payments to be made and the day is done.
Bascially I have just spent the whole day making payments. If only this process was so much quicker....
Unfortunately, if you are new outfit this type of workflow may not be the reality. The aim of good quality software is to make the processes simple, easy to understand and very efficient for the users.
Dashro has an excellent automated solution for the above problem, even better if you use SWIFT with a full authorisation workflow between departments and clients as well the automation of the payments but this is only one small part of your business. One person above could take days to make 30 payments if done correctly. How many parts of your business is not automated?
Dashro aims to automate all business processes whether its your compliance department which is required to check who your clients are and their source of wealth, automating daily, weekly, monthly or quarterly reports so they are sent automatically to your portal or emailed to the investors, or downloading CSV files from your bank so you can run reconciliations. No matter how you look at it, automating your business is going to save you time, money and a very large headache.
It really does not have to be complicated machine learning artificial intelligent solutions to save your business a lot of manual work. Automation of processes can be delivered in days.