A Guide To Streamlining Your Business Processes

by Alex Feldman

May 6, 2019

There are two main methods to enhance your profitability as a business: to increase your sales, and to make your business processes more efficient. This article focuses on the latter: how you can make your business more efficient by streamlining your most cumbersome and costly processes. You’ll learn below how you can run a tight, well-maintained and technologically-advanced business in order for your profits to grow and your staff to feel part of an efficient company. Streamlining is all about assessing your inputs, cutting their cost to get the same – or enhanced – outputs, for less investment.

Workforce

Your workers are a large part of what’ll make an efficient business. Their productivity and training is as important as the systems they use and the processes they take part in. As such, you should ensure that you:

  • Hire the best-quality talent when you look for new staff.
  • Offer comprehensive training in your systems to new recruits.
  • Offer employee feedback meetings to help boost their performance.
  • Incentivize better performances to make their working time more efficient.

By helping your staff to achieve their best work rate possible, you’ll see an increased output for the very same input – and you’ll motivate your team, which in turn increases their satisfaction in their jobs.

Technology

Digital technology continues to develop at a fast pace, helping business harness the power of computing and digitizing what were once cumbersome and clunky physical processes like filing, invoicing or data entry. Wherever possible, you should be abreast of these developments, onboarding them into your company to make a variety of efficiency-saving changes to your business processes:

  • Using integrated payment systems through providers like sellercloud.com.
  • Operating efficient and well-integrated digital communications systems.
  • Using Microsoft Office programs expertly, with files saved on the cloud.
  • Basing your systems management on one centralized software.

One of the great benefits of computing in business is the fact that it centralizes your capabilities. With your processes centralized, you can use the data you gather to improve your performance further – monitoring where you’re losing money and where you could make changes to streamline costly processes.

Management Decisions

In streamlining, there should always be a small element of ruthlessness in your approach. Sometimes streamlining decisions involve redundancies, and sometimes they involve merging two areas of your business into one. As a manager, you should be keeping ahead of the big-picture statistics around your company’s performance, including liaising with the chief financial officer to see how your figures are changing over time.

Any worrying trends in your figures should elicit an immediate auditing response, with each process in your company being assessed for its relative efficiency. During these audits, you’ll find where certain changes might be made to increase your efficiency and streamline your processes. Act on these insights as soon as possible to reduce your expenditure on unnecessary or inefficient areas of your business. Whether this means staff changes, automation or new tech, you should be willing as a manager to make strident decisions to benefit your efficiency levels.

The tips provided in this article should help business managers make changes to their business that streamlines processes and increases efficiency – boosting profit margins in the process.