Every company operates based on a set a of individual processes that come together to form the overall operations of the business. The efficiency and efficacy of these segmented processes will determine the level of success a company is able to reach within a given time span, while also directly affecting its chances of surviving past the 5-year benchmark that many companies don’t make it to.
Of course, better process efficiency automatically equate to higher productivity, which in turn increases your bottom line and helps to raise employee morale. Now that we’ve reviewed some of the primary benefits of better business processes, here are seven guaranteed ways any company can get things done more efficiently:
1. Use contract management software
For many businesses, the main aspect of increasing revenue involves procuring new contracts as well as optimising recurring contracts with existing clients and customers. Drawing up new contracts and taking a unique, manual approach, every time can be a huge time-waster for the employees in charge of this task. Instead, consider the advantages of utilising a contract management tool. You’ll want to find the right tool for you as they have a huge impact on the processes that are integral to your business. Potentially look for a company that understands your business values such as trust and teamwork. These types of business solutions can be found at Four.co.uk as they base their solutions on similar values. Using the best contract management software for your business model will not only save time, it’ll also increase your chances of landing new clients with more professional looking contracts that are based on tried and proven templates.
2. Develop a business process plan
Once you’ve tackled the main step in increasing revenue – securing new business – it’s now time to create an overarching process plan that effectively optimises productivity across the board. Typically, this will involve setting goals and devising practical and realistic schedules that allow for the consistent achievement of those goals. Laying out clear step-by-step objectives and expectations for each employee is the best way to ensure the entire team is on the same page when it comes to steering the direction of progress and handling their individual duties.
3. Implement assigned accountability
Every process that is created should be spearheaded by a core group of employees, but the ultimate accountability should land on a single person. Placing the burden of accountability on your most responsible leader within each process will ensure that the team is diligently supervised and pushed towards achieving the task within the allocated time frame.
4. Promote standardised repetition
The best way to ensure processes are completed is to make them as consistent as possible. In other words, you want each of your employees doing the same exact thing on a daily basis. Building repetition and consistency are necessary steps in developing effective processes that stand the test of time. Standard processes that have been tweaked over time are ideal for facilitating optimal workflow and preventing half-finished tasks.
5. Simplify employee obligations
Overburdening individual employees with tasks that leave them burnt out and exhausted can be a recipe for failure in the long-term. Not only does it reduce morale and productivity, it also reduces the quality of the work that each employee is doing. Thus, it’s best to spread the workload thin and give each worker an number of tasks that they can reasonably handle within their scheduled shift.
6. Aim for sustainable instead of speedy
While it may be tempting to go for the faster route, pushing processes to the limit can only work for so long. If you become dependent on speedy work then there’s a possibility that business could suffer when things inevitably slow down to a more reasonable pace. Therefore, rather than aiming for the highest possible output, try to devise a plan that achieves a balance of maximum productivity and sustainability. As the old story of the rabbit and the hare goes, “slow and steady wins the race” and that saying certainly holds true in the realm of business.
7. Focus on organisation and preparation
Finally, the key to maintaining effective and efficient processes is developing an approach that revolves around superior organisation and preparation. Ensuring that employees are adequately equipped, trained, and situated to achieve the objectives set before them is the best way to prevent unnecessary shortcomings and keep your work force comfortable and creative even during the busiest times. Thus, workplace design is another aspect of process optimisation that needs to be considered in order to promote workflow that is conducive to growth and expansion.
Designing a collection of fool proof processes
Breaking down a company’s workload into a per-process game plan can help you achieve optimal results with certainty. Comprehensive planning and process mapping ensures that everything is accounted for ahead of time, thereby reducing the likelihood of unforeseen mishaps. In fact, many corporate teams could operate based on the concept of Murphy’s Quantum Law – anything that can go wrong will go wrong – in order to prepare for every possible negative outcome when planning out business processes.