In the rapidly evolving business landscape, digital transformation isn’t just a buzzword—it’s a survival strategy. While companies continue to push for innovation, document workflow automation is a crucial aspect often overlooked. Whether it’s Material Test Reports (MTRs), Certificates of Analysis (CoAs), Invoices in finance, or transcripts in education, manual processing of documents remains a bottleneck that slows operations and inflates costs. Following are some of the challenges of manual paperwork –
- High Costs: Processing delays, manual errors, and inefficiencies increased operational expenses
- Compliance Risks: Regulatory adherence becomes difficult when records are scattered and processes lack standardization
- Scalability Issues: As businesses grow, manually handling large volumes of documents becomes impractical
The True Cost of Manual Document Processing
Manual workflows are riddled with inefficiencies, errors, and delays. McKinsey & Company highlights that in approximately 60% of occupations, at least one-third of workday activities could be automated, showing the immense potential for automation-driven efficiency.
In finance, the reality is even starker. While Gartner reports that 82% of CFOs increased their investments in digital technology in 2024, the gap between ambition and execution remains significant.
- 49% of finance departments still operate with zero automation, relying on manual data entry and Excel spreadsheets
- 38% have implemented partial automation, using outdated technology that still requires heavy manual intervention
- Only 13% are fully automated, with 50%+ straight-through processing across their document journey
The result? Wasted time, high operational costs, and a frustrated workforce.
The US Perspective: Balancing Innovation with Skepticism
Despite leading in AI adoption, the US manufacturing sector remains divided on automation:
- 12% of US finance departments currently use Generative AI
- 32% of US business leaders fear automation may replace the majority of employees
- 34% of US leaders see more risks than opportunities in automation
This hesitation creates a paradox, while companies acknowledge the benefits, fear of change slows adoption.
The Financial Impact of Digital Transformation
A 2024 KPMG survey found that 88% of US executives reported improvements in profitability and performance after implementing digital transformation strategies, a massive jump from 45% in 2023.
Similarly, a 2020 PwC report estimated that AI could contribute up to $15.7 trillion to the global economy by 2030, primarily through its ability to enhance human capabilities.
Yet, despite these clear benefits:
- 49% of business leaders have zero automated processes in their departments
- 66% of UK finance departments still depend on Excel spreadsheets
- 46% of business leaders resist when it comes to automation
Key Drivers Behind Automation Adoption
According to Forrester’s 2024 Automation Predictions, businesses now see automation as a strategic necessity, not just a cost-cutting tool. The key motivators for adoption include:
- Efficiency gains (43%)
- Cost reduction (32%)
- Improved decision-making (27%)
When discussing automation’s ROI:
- 42% expect a medium to very significant impact from automation initiatives
- 39% expect a small to very small impact
- 20% remain uncertain about the returns
This mixed sentiment highlights the need for automation solutions that deliver tangible, measurable benefits.
The Case for Document Automation Across Industries
Manual document workflows are a universal challenge. Whether it’s MTRs, CoAs, invoices, contracts, or employee records, industries like manufacturing, pharmaceuticals, logistics, and banking suffer from slow processing times, human errors, and compliance risks.
- A report from KPMG indicates that retailers must reduce costs by 20% to stay competitive, suggesting that automation is key to achieving these savings.
- Deloitte‘s Tech Trends 2025 report highlights that AI and automation are becoming integral to business operations, enabling smarter and more efficient workflows.
Partnering with Star Software for Your Digital Transformation
Star Software stands at the forefront of document automation, offering tailored solutions that address the unique needs of diverse industries. By partnering with Star Software, organizations can seamlessly transition from manual to automated workflows, unlocking new levels of efficiency, accuracy, and scalability.
Real-World Success Stories: Companies That Made the Shift
Several companies have already reaped the benefits of document automation by leveraging Star Software’s #TrueAutomation to drive efficiency, reduce costs, and improve accuracy. Here are some success stories:
- Nucor Skyline digitized its invoice processing, cutting down payment cycles and improving vendor relationships.
- United Performance Metals implemented an AI-driven document workflow, improving compliance and audit readiness.
- Apollo Scientific eliminated manual invoice processing, enhancing data accuracy and speed by 64%.
- Flack Global Metals automated its MTC processing, reducing approval times from hours to minutes.
The Future of Work is Automated
As organizations strive for digital excellence, those relying on manual workflows will be left behind. The reality is clear – automation isn’t just an option anymore, it’s a necessity. Companies must embrace AI & digital transformation now to remain competitive in the years ahead.
