Our Value Estimator: What Does Efficiency Look Like?
A ‘typical enterprise’ is tasked with many distinct activities that ultimately (and ideally) contribute to the bottom line. That is what drives the structure —and energy —of the business. Within the number of different functions that take place every day, most groups work on improving how they operate. They focus on increasing productivity and efficiency. They believe, as we do, that with greater efficiency comes greater insight, management— and, ultimately, business optimization.
Increasing efficiency is not a simple task. It is, however, achievable in organizations that have given serious thought to applying and improving their business processes, while leveraging investments in technology and infrastructure. With a focus on efficiency, and an appreciation for company culture, employees are free to be more productive — and expend fewer cycles on redundant tasks.
A ‘typical enterprise’ is tasked with many different activities that ultimately (and ideally) result in an increase in profits. That is what drives the structure and energy of the business. Within the different functions that take place every day, most groups, whether or not they contribute directly to revenue generation, work to improve how they operate. They focus on increasing productivity and efficiency. The belief is that with greater efficiency come greater insight and management— and, ultimately, business optimization.
Increasing efficiency is not a simple task yet it is achievable for organizations that give serious thought to applying and improving their business processes, while leveraging existing investments in technology, infrastructure and company culture. With a focus on efficiency, employees are free to be more productive and fewer cycles are spent on redundant tasks.
BP Logix customers have realized significant improvements in addressing their workflow and process automation needs. What usually helps these customers read more
How business processes support internal policies and prevent data breaches
A recent breach of conduct by an employee has put Comcast in the hot seat for abusive and inappropriate behavior directed at a customer. Although a disgruntled member of the Comcast team changed the name of the customer (to a derogatory term) this is not the first time the company has faced these types of issues. Beyond being abhorrent behavior, this kind of action also damages the image and credibility of a brand.
It’s reasonable to ask how Comcast could have avoided this situation. Like any organization of 150,000+ employees, there are some bad apples. Internal policies exist, however – and training teaches employees what is —and is not— acceptable behavior. Policies alone, however, will not prevent this kind of action from happening….
In every organization, policies are merely guidelines; they are not always widely known (we agree that they ‘should’ be) and are often difficult to enforce. Policy is, however, a legal shield— one that provides neither oversight nor read more
There is a perception that some CIOs and IT Directors use Q1 to determine what they will buy in order to implement it by Q4. We know the reality, however, is that smart businesspeople are always looking for solutions to improve their businesses. Whether its Q1 or Q3, or any time before or after, they continue to seek to understand how to be more productive and efficient.
Change and flexibility are the basis for growth-minded organizations. And while change is inevitable, it cannot be totally disruptive. There are big changes (losing major customers, replacing key executives, market swings), and there are small changes (implementing a new accounting system, re-organizing functional teams). Some may be anticipated and, therefore, manageable, while ‘big change’ can impact the way you do business going forward. In either case, companies need to be prepared to deal with some level of disruption— yet keep the cadence of their business moving in the direction of their goals.
With each passing business cycle, the response rate to critical issues that customers have come to expect increases. When a company delivers negative financial news to the Street, or their data is hacked and exploited, speed trumps strategy in terms of taking action. Major brands cannot just “grind it out”.
Companies, whether large or small, need a foundation on which to run their business — a foundation that enables them to be decisive and actionable. From our perspective there is another correlation: companies that are most responsive to their customers have created an environment that uses processes and workflow as a competitive advantage.
It may appear to be a very simple tactic: use workflow effectively. But we believe it is more than that. We believe that in 2015 there will be far more emphasis on workflow as a strategic business priority, and see its role as the defining element of business solutions. So, yes, it may be simple to a point — but for businesses banking read more