There is a delicate balance to streamlining business processes without exhausting precious resources to do so. Companies often focus on perfecting one area inadvertently causing them to become blind to inefficiencies growing in another. As a result, business processes can become siloed or compromises are made that leave the need for another cycle of exploration - causing the consumption of even more resources.
With inefficient business processes resulting in an average annual revenue loss of 20 to 30 percent, there is clearly no easy answer. Rapidly changing technologies and increasing regulations are only two factors that keep the proverbial arrow from hitting its mark and sticking. However, there are some best practices that can help direct you on where to start (or ensure you that you are on the right path).
The disconnect between knowing where to focus first and keeping up with how that area ties into another is usually due to the lack of specific information. Detailed data is essential when discovering your greatest strengths and areas of significant weakness. Having access to the fullest breadth of information as quickly as possible is a must - but if detailed information cannot be produced or it requires a complicated manual process to overlay several reports, these are red flags indicating where your organization should start, as they could be symptoms of a bigger problem. The greater the amount of data that can be analyzed, and the quicker that can be done, the sooner the pertinent decisions can be made and in the timeframe needed for the biggest impact.
Another area of concern has become a loose definition of electronic document management. Simply having a centralized place to hold documents in a digital format isn't enough anymore. It has simply created a new means of time consumption looking for misnamed or misplaced files. Concern for security usually comes to mind as well when considering the means of organizing the information passing through your company. A centralized system with detailed security permissions is essential and provides the added efficiency bonus of needing only one initial set-up. With the ability to attach anything to specific accounts or even people (like hiring docs, invoices, and even e-mails), your organization has access to a single system with a single entity holding all of the pertinent information in the exact right places.
A core system that can accommodate all of the above is the holy grail of business processes. This is where a knowledgeable and accessible business partner becomes the map to the gleaming chalice. Integrations and automated processes tailored specifically to your company's (or companies') needs provide you with a system that becomes the holding place for all of your data, with the added value of a means of analyzing all of that data through detailed reporting with little to no manual interference.
Imagine if all of the processes described above could be accomplished with a single ERP system. With over 40 years of experience, our expert consultants and developers have provided clients with a system that turns complex payroll environments into automated processes and integrations capable of retrieving revenue and instantly recognizing in accounts receivable. Let's explore a holistic view of your processes and streamline them into a centralized ERP System that works for you instead of you working for it.