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December 08, 2021 | Posted in:

Put process improvement at the top of your 2022 list

The numbers are staggering. Companies lose between 20 and 30 percent of annual revenue due to inefficiencies (Source: IDC).

If you’re looking for ways to improve your competitive position and profitability, a good place to start is by identifying operational inefficiencies. This is especially important as companies that have lost staff learn to keep up, and those with hybrid workforces learn how to run as smoothly as when they were completely in-person.

 

Here are eight business functions to review:

  • Accounts payable and receivables, billing, and invoicing
  • e-Commerce
  • Expense management
  • Manufacturing
  • Payroll and time tracking
  • Point of sale
  • Reporting and analytics
  • CRM and contact management

As for tasks to focus on, here are six that can be improved and automated with technology:

  • Track mileage
  • Pay bills
  • Accept credit card payments
  • Create dashboards and performance indicators
  • Payroll solutions
  • Marketing

 

Process improvement can not only streamline work, it can also improve morale, enhance customer experiences, reduce human error, help you make better informed decisions and ultimately, put you in a stronger financial position. Alloy Silverstein Cloud Services can guide you with the technology upgrades to achieve your goals.

Author:

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