Inefficient processes can be impeding your business without you even knowing. A lack of defined processes often leads to problems with data quality, reduced lead to cash performance, poor customer experience and a lack of clear visibility of what’s happening in the business. With so much at stake, it’s vital you spot the issues before they become problems.
Here are five common indicators that your business processes need attention:
1. A digital transformation has failed
If you’ve recently undergone a digital transformation, is it bringing value to the organization? Has it been easily adopted or is the organization experiencing difficulties integrating this new technology? For many the issue is that they have failed to adequately define and prioritise the transformation from current state to future state. Failing to take the opportunity to simplify and optimize process can result in overly-complex implementations with high ownership costs.
2. Incompatible systems following a merger or acquisition
A merger or acquisition can quickly accelerate business growth. However, it can also bring process issues where the businesses remain on separate systems which cannot be easily be integrated.
3. Duplication of effort
Your business could be leaking profit due to work being repeated and failure to share knowledge across departments. Not having a clear view of where this is happening and not knowing who is responsible for specific tasks could be costing your business.
4. Poor data and reporting quality
If your data is inaccurate or inconsistently recorded across the business, you do not have a clear and true view of what is happening in the business. Poor data quality can be standing in the way of cross and upselling and diminish your businesses’ marketing effectiveness.
5. New systems take longer to implement than they should
Implementing any new system goes beyond the change in technology or process, it’s about the people too – are they receptive to the change, can they adapt? One of the biggest challenges to the success of any new system is the impact on business culture. Not being clear on the ‘people impact’ of change can lead to failure.
Too often we get caught up in the details of doing our work without thinking about how we’re doing things. Reviewing business processes is key to making your business as efficient as it can be. Not only can it benefit you by reducing costs, it can help free up time to generate more revenue. It’s a win:win.
The key is to turn business process issues into opportunities, as McKinsey & Company highlights, by focusing on the right digital practices – particularly those most tied to customer and financial success, companies will be able to create long-term value.
The next step? Talk to an expert
If any of these scenarios ring true for your organisation, the next step is to talk to an expert. It can be challenging to take a step back when you’re so focused on the business. A process improvement consultant brings a new, expert perspective and will help set your business straight, by exploring each process in detail, identifying the flaws, and designing solutions – leaving you free to focus on running your business.
Get in touch with Matt Cheung to find out more >
