6 Ways to Increase Corporate Operational Efficiencies

images (41)

Companies that continually increase their operational efficiency will enjoy better productivity, customer satisfaction rates and ultimately better revenue. Below introduces six ways to increase your company’s operational efficiencies.

Streamline Customer Communications
Companies that efficiently and knowledgeably interact with customers will keep them satisfied and coming back for more. Ideally, companies will integrate communications systems with customer relationship management (CRM) programs. This will enhance customer relationships and the quality of customer service experience. It will also drastically improve the effectiveness of data tracking and knowledge management. Integrated programs will ultimately provide valuable business intelligence that can be analyzed and incorporated into business goals and processes.

Outsource If Needed
Depending on the industry and the needs of the company, certain tasks may be outsourced to save time and money. For instance, outsourcing to a third-party IT service company will significantly reduce IT labor, equipment and maintenance costs. Conversely, small businesses that have limited managerial and administrative support should consider outsourcing HR and accounting functions. An HR managed service provider is the perfect solution for a small business with fluctuating staffing needs. Outsourcing accounting is highly recommended for entrepreneurs who run their own business by themselves.

Reduce Wasted Time
So much time is wasted in unproductive meetings or unnecessary travels. Business meetings often involve unnecessary people and unimportant topics. Some employees like business travel as an excuse to get out of the office and relax. Therefore, management should set the standard that business meetings should be results-driven and goal orientated. If possible, IT solutions such as video conferencing should reduce the need for traveling. If absolutely necessary, any time spent traveling should be carefully planned with clear expectations.

Offer Tools for Collaboration
Operational efficiency depends on effective and interactive collaboration between employees, management, suppliers and customers. There are many technology solutions that will increase collaboration, such as web-based project management programs and integrated voice, video and data solutions. Using internal Wi-Fi, interactive calendaring, mobile devices and other technologies will reduce costs and increase seamless collaboration. Bear in mind that poor collaboration will result in project delays, lost revenue, missed opportunities and operational inefficiencies.

Mobile Devices
Technology continues to revolutionize how customers and businesses interact, communicate and share information. Many employees naturally struggle with performing certain duties because there are so many competing processes and software programs. However, mobile devices that are programmed to synch with web- or computer-based programs will ensure that business information is accurately and promptly updated. Centralized mobile device solutions enable the workforce to effectively continue working outside of the office through responding to e-mails and voice mail as well as accessing confidential client information.

Establish Productive Business Relationships
Companies must create effective business processes with their suppliers and partners if they want to remain competitive and highly functional. This becomes more important as the size of the company grows. This is why many large corporations require business partners to adhere to their operation procedures. For instance, Wal-Mart, the world’s largest company with the highest revenue, requires that suppliers strictly follow their internal supply chain procedures.

As a final note, companies that streamline their operational procedures will reduce errors and increase efficiency.