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Workforce Automation and BI Will Continue To Expand Throughout Staffing and Recruiting Firms…

Automating repetitive business processes frees up your administrative staff for tasks that are less mundane or more valuable than those that can be completed by machines and software.

Automation is becoming a common element of every business. This is why more and more staffing and recruiting firms turn to automation as well as adopting Business Intelligence to streamline their current processes.

Organizations that opt-out of automation software are unknowingly giving a competitive advantage to their competitors.

Software Automation and Business Intelligence (BI) work hand in hand in reducing labor costs and providing business insights to help you grow your business.

Automation helps BI to collate all workforce and sales data giving you access to actionable insights that are specific to a particular challenge you are trying to solve. With this in your arsenal, there will be no element of guesswork and you can clearly see valuable insights into the operations of your business, customized to your immediate needs.

Here are some of the advantages of using automation and business intelligence:

Make more informed decisions

Effective business intelligence can enable managers to make more informed, data-driven decisions. These decisions can be made with far more confidence, too, and can help reduce the level of risk. Decisions can also be made far quicker than before, which saves valuable time and money.

Cut costs and remove inefficient spending

Automation cuts down labor costs by automating repetitive and labor-intensive tasks and as a result, your administrators can focus on more meaningful and business-impacting work.

Spot inefficient business processes

Automation and Business Intelligent helps organizations have better control over their processes and standard operating procedures, as the visibility of these functions is improved. The days of skimming through hundreds of pages of annual reports to assess performance are long gone. Business Intelligence illuminates all areas of your organization helps you to readily identify areas for improvement and allow you to be prepared instead of reactive.

At Bilflo, we believe that every staffing company should have access to both to reach their full potential.

If you are interested in learning more, please feel free to schedule a Discovery Session with our team today.

Alternatively, you can check our resources to learn more about our services.

How to Use Back Office Automation to Save Money?

A back-office automation system, if set up and used properly, will save your business money.

For example, in manual timekeeping systems, your administrative staff spends tedious hours troubleshooting timesheet inaccuracies, missing information, following up with employees, and then manually entering the data into the payroll system.

Aside from that, they also need to manually create invoices, attach detailed timecards, update your accounting system and send them to your clients individually. That is a lot of work if you are going to ask us!!!

When your HR staff can process payroll, invoicing, and accounting in minutes, you can drastically reduce labor costs and it gives your HR staff more time to work on company initiatives that increase employee productivity and loyalty.

What about the manual processes that go into gathering business insights for your business, some IT departments can take days if not weeks to run a full report of your organizational data.

At Bilflo, we believe there should be a system specifically designed to handle your back office.

Our staffing software is designed to increase the efficiency of your back-office operations and provide business intelligence to manage the performance and profitability of your business.

Starting with the Time Management functionality, Bilflo’s built-in timekeeping feature manages pay rates, burdens, expenses, and overtime rules for all 50 states. In addition, other timekeeping systems can be directly uploaded into Bilflo making the process seamless and reducing redundant work.

Bilflo automatically generates client invoices, individual or consolidated, attached with detailed timecards and supporting documents. Invoices can be delivered electronically with a click of a button to both your clients and accounting software.

Since staffing companies often utilize multiple software solutions, Bilflo was designed with open APIs to connect with applicant tracking systems, payroll providers, and accounting software so there’s no need to manually enter data in multiple places. Your best tools and processes work together seamlessly.

Bilflo consolidates and tracks sales & recruiting activity, time & rates from various systems and unifies sales and gross profit Business Intelligence for individuals, team performance, and the overall organizational health.

So what are you waiting for? Schedule a Discovery Session with our team today and learn how about our services and how they can help you bring your business to the next level.

Alternatively, you can check our resources to learn more about our services.

Eye-Opening Business Intelligence Statistics

Business Intelligence (BI) software has rapidly gained adoption. In 2020 alone, 54% of enterprises agreed that cloud-based BI was vital to their current and future initiatives.

The Business Intelligence market in the U.S. is estimated at US$ 6.1 Billion in the year 2020 and is forecast to reach a projected market size of US$ 7.4 Billion by the year 2027.

According to Research and Markets, significant growth has been reported all over the world, the global market for Business Intelligence is estimated at US$ 22.4 Billion in the year 2020, is projected to reach a revised size of US$ 34.5 Billion by 2027.

TechJury did a deep dive analysis and hand-picked some of the most relevant business intelligence statistics for 2021.

Here are some of their takeaways:

By 2023, over 33% of large-sized businesses will practice decision intelligence.
Data analytics makes decision-making 5x faster for businesses.
7 out of 10 businesses rate data discovery as very important.
Most businesses adopted business intelligence in 2020.

One of the biggest challenges business leaders face is putting together the right pieces of information together to gain a holistic view of the company’s operations – and it only gets harder the bigger the organization grows. This is why more and more businesses are transitioning to Business Intelligence software for their data analysis needs.

At Bilflo, we believe that in order to maximize your company’s resources and be ready for growth, you need to have access to real-time business intelligence that you can quickly gather insights on your organization’s data and overall health.

If you want to know more about how Bilflo can help you, please feel free to take advantage of our Free Trial by Signing Up Here

You can also check out these 30-sec videos on how our software works:

Utilize Automation To Ease Workloads and Improve Outcomes

Today’s business world runs faster with technology, and refusing to use new systems means your competitors are a step ahead of you.

Research by McKinsey found that 45% of the tasks individuals perform at work every day, can be automated with currently available technologies. When talking about efficiency in the workplace, it is useful to start looking at which tasks could be better managed using an automated system in cloud-based software.

Here are some of the primary benefits that come with business automation:

Better Communication: An automated process can help ease miscommunication and allow your teams to better handle their workload. Various applications can be easily implemented into your operations, enabling people to have a better grasp of the tasks and stay updated with any changes.

Cost Reduction: Manual labor costs more than an automated process. It takes more time to do and requires the full attention of the person in charge of it. When you automate business processes, tasks will be completed at a much faster rate, allowing you to save both time and money on labor.

Efficiency and Output: Automation allows you to cut back labor hours and improve your overall productivity level not just at a business level but on individual employees as well. The cut in workload will help in improving their efficiency and they will be able to take on new tasks without comprising their output.

Scale: The success of your business is dependant on your company’s ability to grow. Automating business processes, and removing the risk of human error, give your business the competitive advantage and the position to grow and scale at a faster rate.

At Bilflo, we believe there should be a system specifically designed to handle your back office workload while having access to the business intelligence you need to grow your business.

Here are some of the tasks that Bilflo can take over so that your highly skilled workers will be able to focus on the work that matters.

Timekeeping and Approval: Let your employees enter their time and provide clients with easy access to approve and reject time and expenses.
Payroll and Invoicing: Integrate & export directly to your payroll and accounting systems for a seamless stacked experience.
Business Intelligence: Gain useful insight that drives smarter decisions that have a dramatic impact on your bottom line and the overall growth of your company.

See how our integrated solution works by checking out our resources:

Be Financially Agile During Economic Uncertainty

CrucialLearning tackled The Four Crucial Moments For Uncertain Economic Times. It aims to help organizations to be financially agile in these trying times.

We summarize it for easy reference. Here are the 4 crucial conversations:

1. Debate Dithering and Denial

When a team is confronted with financial data that may or may not signal a crisis, teams can often disagree over the urgency of the issues and how to handle them. Basically, a team that is unable to discuss their difference can delay the decision allowing the crisis to deepen while teams that are able to discuss disagreement can take action within a few hours or days and resolve the issue faster.

2. Undiscussables

In many organizations, managers are aware of huge potential savings but just can’t talk about them due to politically sensitive cultural practices; even more, cite times when the barriers were leaders’ pet policies or topics.

3. Silent Collision

Everyone is asked to make tough decisions. But most are skeptical about whether their peers will really pony up. So they watch and wait—refusing to make hard choices until they see others dive in. One major cause of this is accountability. Only one in ten respondents said that peers were willing to hold each other accountable for their cost savings commitments.

4. Irrational Slashing

The result of failure to address the previous three. Senior leaders rose up through the ranks seeing failures in the previous three Crucial Conversations. They themselves often dithered rather than acted. They felt stifled in their ability to raise undiscussable when talking about sensitive cost-cutting options. They participated in silent collusion—forestalling tough decisions until they witnessed real accountability.

These crucial conversations should not be a hurdle to financial agility. Here are some key ways for businesses to become more flexible, efficient and come out of the year in a stronger position.

1. Understand your business better

When you have clarity on your business and workforce data, these conversations can easily be discussed within your team to improve efficiencies and address potential concerns.

Knowledge is power and if you know how your business will react to a change in circumstances, you will be able to set in place some plans to best deal with the situation.

2. Rolling Forecasts

These are strategic approaches to financial forecasts as they are guided by key business drivers. This makes them an important tool in agile financial planning.

Rolling forecasts offer a way for your organization to quickly correct financial warning signs. It also provides a consistent horizon, which gives finance leaders like yourself the confidence to make critical business decisions.

3. Enterprise integration

It’s paramount that managers have the ability to see the entire financial situation with the right information at the right time. Integrating financial modeling reduces preparation time, while simultaneously reducing the risk of error by removing numerous data handling touchpoints. The result is managers and analysts making decisions on controlled, trusted information in a much shorter space of time.

At Bilflo, we aggregate all of your workforce data from various systems into comprehensive business intelligence giving you access to real-time reporting.

This helps organizations have business clarity and make data-driven decisions.

See how our integrated solution works by checking out our resources:

Why Choose an Integrated Solution over Multiple Point Solutions?

Business integration is a major contributor to growth as it allows organizations to leverage their existing processes, people, technology, and information in order to stay ahead of the competition.

Understanding the fundamental difference between point and integrated solution

Point solutions aim to resolve a single functional gap specific to a channel by using best-of-breed features while an integrated platform, solves multiple use cases and can be rolled out across different business functions.

An integrated platform makes it easier to meet the current requirements and more flexible in its approach, providing you scalability and flexibility advantages, not to mention the profits, exponential ROI, business growth, and long-term benefits of being future-ready. On the other hand, a point solution while perfectly catering to its value proposition is limited in terms of expansion. Here are some key differences between point and integrated solution :

By integrating a robust tool with your legacy or existing tools, you can easily enhance the power of your systems to streamline business processes and operations.

Here are some of the key benefits of Bilflo’s integrated solutions:

1. Improved Data Accessibility

With the help of system integration, data accessibility becomes easier for people in organizations. This leads to better decision-making, at different levels, which often results in accelerated business growth.

2. Improves employee collaboration and performance

When businesses are well-integrated, improved connectivity will streamline communication between participants of different functions. As a result of this, organizations can easily share more information that was previously difficult, costly, and/or time-consuming to access.

3. Enhance visibility through real-time data and reporting.

With an integrated software system, problems can be solved and changes can be made with just a few clicks rather than by having to visit multiple systems.

Bilflo understands the need for integrated solutions rather than multiple point solutions. We provide staffing firms One Integrated Solution designed to fit into their current ecosystem (ATS, CRM, Time Management, Payroll, Accounting).

See how our integrated solution works by checking out our resources:

Source: moengage

Factors that Drive Staffing Firm Automation

The value derived from investing in business processes and automation solutions Is difficult to dispute as it is proven to increase efficiencies, save time and money, and eliminate errors, among many other benefits, for companies across industries and of varying sizes.

Surprisingly, many companies are still relying on outdated processes and systems – or are failing to capitalize on the full benefits of automation. According to the 2018 North American Staffing & Recruiting Trends Report, more than a third (35 percent) of staffing firms don’t automate during the prospecting, client engagement, or account management stages; and about 40 percent don’t automate candidate selection, screening, or nurturing at all.

The covid-19 pandemic has changed the way staffing firms do business. The swift and sudden changes forced on the industry turned the slow and steady evolution into a digital revolution. Many staffing firms have already adopted some form of automation in their day-to-day businesses.

However, many of staffing firm fail in using automation software due to little to no planning. They’ve implemented automation tools that are too complex and difficult to understand.

SIA posted an article on the factors that businesses have to consider before automating their processes.

Identify what your expected outcome is and plan your strategy based on your expected outcome.
Once you have identified your strategy, assign an expert to lead the process of identifying, selecting, and implementing the solution.
Research whether the solution resolves the problem and involve and make sure that you are getting all the benefits of your selected solution.

In summary, automation software can boost a staffing firm’s efficiency while driving productivity when used correctly and to its full potential.

Bilflo automates your current process and offers premium software integration to connect with your current ATS, CRM, & Accounting tools; eliminating the need to overhaul or disrupt your day-to-day operations.

In the end, all of your workforce data is aggregated into one system so you can make holistic, data-driven business decisions while decreasing costs and increasing profits.

With an automated, transparent, and streamlined process, you can:

Build trust and increase your employees’ satisfaction by ensuring that your team is compensated accurately.
Reduce back-office workload and labor cost by taking the pain out of managing employee time and manual data entry.
Manage your business for growth and success with our business intelligence tools.

Our goal is not only to make the process easier for you but to also empower your team in the work they do with contractors. Whether you need to store client agreements, split hire fees, or save offer letters, Bilflo is there to fulfill you and your team’s needs.

So what are you waiting for? Start automating your business with Bilflo.

Schedule a live discovery session with our team today.

Impact of Business Intelligence on Company’s Growth

In today’s fast-moving business environment, making quick decisions is key to capitalize on opportunities. This is why many businesses have adopted Business Intelligence to improve their company’s growth by helping companies make better decisions using current and historical data. It provides performance benchmarks to make the organization run smoother and to easily spot market trends to increase sales or revenue.

In the recent market research report conducted by Technavio, it is predicted that the business intelligence (BI) and analytics platforms market is poised to grow by USD 12.62 billion during 2020-2024, progressing at a CAGR of almost 10% during the forecast period.

What is Business Intelligence?

The term Business Intelligence (BI) refers to the technologies, applications, strategies, and practices used to collect, analyze, integrate, and present pertinent business information. This enables much more informed business decisions to be made using the data.

Why is Business Intelligence So Important to Modern-day Organizations?

Without actionable insights that are specific to a particular challenge you are trying to solve, there will be an element of guesswork and chance that goes into your decision-making. Business intelligence allows you to gain valuable insights into the operations of your business, customized to your immediate needs.

Advantages of Using a Business Intelligence

Make more informed decisions

Cut costs and remove inefficient spending

Detailed reports can help you see exactly where you’re spending money and can compare this to your budgeted costs. This can enable you to decide where adjustments need to be made to help cut wasteful spending and reduce inefficient costs in the future.

Spot inefficient business processes

Business Intelligent organizations have better control over their processes and standard operating procedures, as the visibility of these functions is improved by a BI system. The days of skimming through hundreds of pages of annual reports to assess performance are long gone. Business Intelligence illuminates all areas of your organization helps you to readily identify areas for improvement and allow you to be prepared instead of reactive.

Identify new business opportunities

A BI system also allows you to understand the implications of various organizational processes and changes, allowing you to make informed decisions and act accordingly. This can help you see new unidentified opportunities for the future which can help to give your business an increased competitive advantage.