You must have heard from your colleagues in rival companies about them working overtime and completing business tasks. There are a lot of companies that have a legacy overtime payment feature wherein employees can earn a little bit extra money for working after office hours. This is a good system but for employees and definitely not for the company. Today we are here to discuss this work culture and what steps to take to rectify this process and hence improve our workflow.
Streamlining a business process means simplifying a business process. It is a process that seeks to eliminate work-related lag and to make it more efficient as a process. Technology is used in abundance for streamlining various processes but some methods do require some clever thinking on the part of employees. While some business process streamlining methods require special training, it becomes a little bit difficult to implement if your company’s workforce is relatively older. Sometimes small and medium business owners face a unique dilemma to invest in a business streamlining solution when they can themselves do the work for free. It is not about cost, rather it is about the time saved. If you are on the lookout for a good contract management software then check this out.
Here are five essential steps to streamline business processes:
This is the basic first step towards streamlining your business processes. You need to check with various departmental heads and gather data regarding their business processes and then use that data to formulate the area of action. Every little detail is important so pay attention to the details and then take the necessary action to plug the delay. There are various tools available like workflow management software like Altisian, and others. Some of these software tools like contract management software are offered as a SaaS (Software as a Service) product hence usable by any kind of organization to streamline workflow processes.
In every business organization, there are many repetitive and nimble tasks that if not done in a proper sequence can fail in the entire process. For example- Invoice accounting entries, HR payroll entries, etc. One of the biggest issues in these tasks is that they take up a lot of manpower and time. These tasks are not the core focus area of a company, yet they have to be done otherwise the larger process will fail. Thankfully for tasks like these, there are automation software tools that can help you save up a lot of cost in the long run.
We humans are emotional beings and little things fizzle us out sometimes. Sometimes the workflow dampening is due to employees working under too much stress or due to other external factors like family troubles, etc. Work gets slowed down because of this. According to research published by Statista, 15% of all US employees admitted to feeling extremely stressed at work. To eliminate problems like these it is a good idea to find out the real reason and act accordingly. Like if it is a money problem then increase the compensation, if it is a morale problem then hire a motivator or life coach, if it is a family problem then try to offer help to that employee, etc. Whatever be the problem, solve it as fast as possible as they are your employees so you have a responsibility towards their well-being.
There are two types of business processes in a company i.e core process and non-core process. You can outsource some of your non-core business processes for a more streamlined core business work. You can also save a lot of money if you do that. For example- your marketing department can outsource content creation tasks to an outside marketing agency for far less money than if you had hired an entire team to do the task. Customer support is also another business process that is widely outsourced to India or China or other Asian countries because of this exact reason. It saves huge operational costs and is just as the same as if it was inside your office.
You might be over-enthusiastic and take over a big contract but then lack the human resources to accomplish that project. So it is advisable to be prudent and play in the field where you can handle yourself. You might think of getting more profit from a bigger contract but if you do not have the employee force to execute that contract then they will have to sacrifice their other work for this one big work. Ultimately, in the long run, your clients will not grant you any new contracts and your employees will also leave your company and then your entire business will be shut down. So think about the big picture before taking up a contract or deal.
So these are some essential steps that can be implemented at all types of organizations with relative ease and are also highly recommended. But remember one thing which is that employees are the biggest asset that any company has.