Automation is the key success ingredient behind productivity for accelerators

Four benefits to automating your accelerator program that will make you change your ways.

R8Accelerator was designed to solve a basic human need for accelerators, efficiency. To move out of the tactical activities and into the strategy mindset, let's admit, we need more time. That's why we created R8Accelerator, so you can have more time to focus on you.

"Are you busy focusing on being productive?" - R8Accelerator

When you hear the word "Automation," you may think of a robot taking over your office and replacing all your manual processes with a simple button. Sorry to disappoint you there, but while technology is changing how we work, it should not eliminate human skills; instead, automation should offer key advantages to forward-thinking corporates, especially those leading innovation programs.

Corporate Accelerator programs aim to connect organizations with aspiring entrepreneurs who can provide solutions that drive innovation; thus, automating the program enables a more efficient, productive, and adaptable program for the corporate and the participating Startups.

Here are 4 Benefits of automating the manual processes in your accelerator program:

Increased Productivity and Efficiency

A human can only achieve so much in a given amount of time while executing a task manually. Automating procedures reduces mistakes and redundancies, resulting in much more efficient operations and frees program managers from routine tasks, allowing them to focus on higher-value work such as business development and networking. The automated application and filtering feature provided by R8 Accelerator enables you to create pre-selection criteria and automatically filter through Startups, reducing the time spent processing applications and shortlisting.

Improved Tracking and Monitoring

Improved process tracking and monitoring is a significant accelerator program advantage. Automating tasks such as applications, mentor matchmaking, scheduling, and feedback forms allow program managers to process larger volumes of data and assemble key figures for their reporting. These insights enable firms to make educated decisions based on collected data as they would have a deeper understanding of Startup performance and how their program runs.

Better Standardization and Compliance

Employees frequently do the same processes differently; however, their methods are not necessarily the most efficient. On the other hand, automation solutions constantly follow the same techniques to finish tasks and never deviate from the rules you establish. Consequently, program automation may assist you in standardizing procedures, achieving consistent results, and increasing transparency throughout the cohorts.

Financial Insights

Automation significantly influences financial intelligence since it allows you to obtain more data faster than you could manually. Analytics and reports may provide critical insight into business operations, assisting decision-making. For example, with budgeting templates, program managers can collect more complex data or elements they may have missed with manual processes by using formulas or synchronizing data from different partners.