What Might be Costing your Business Time (and Money)?

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Written by Luke Tyler

Luke talks about Riselabs’ developments and ideas, as well as the latest innovations in tech grabbing our attention.

In any business, there’s a number of different processes needed for success. Some of these processes can be repetitive, arduous and seem needlessly complex. The likelihood is that they are, and can be bettered with intelligent digital solutions.

The right software solutions get to the core of your business, with the goal of being as efficient and as intuitive as possible. The end result is a time and money saving way of achieving your end goal in your day-to-day business activities.

We’ve listed a number of processes below that are common time-sinks; losing businesses huge amounts of time each year that could be better spent.

Document Collaboration

Collaborative staff knowledge is often needed to complete the task at hand. However, if you find that your staff are undertaking complex processes on a spreadsheet, for example, you can experience a range of issues.

Keeping on top of who is accountable and what has been completed can often be a grey area, resulting in duplication of work and even the loss of work in some circumstances. In some instances, there’s value in moving away from the spreadsheet altogether.

Outdated Legacy Documents

There might be one or two master documents that are crucial to your business, used very regularly to achieve your daily goals. However, some fields may be outdated or even redundant. Each time a workaround is implemented in order to accommodate the document, time is being lost.

Job Tracking

It’s often difficult to assess the stage of a project at a snapshot. With clear exposure to this, it’s much easier to see where things are in the pipeline and who’s accountable. Job Tracking and Contract Tracking can both be a lot easier through implementation of the right process.

Data Entry

Each time data is inputted or copied and pasted more than once, such as copying from your CRM and into Sage, time is being lost. In many instances, there are solutions that allow data to be moved from one place to another seamlessly, instead of duplicating this work.

Reporting

The ability to report on specific features of your business is crucial to get the bigger picture. It can cover what’s working well, what’s working less effectively and equip you to make better decisions through clearer insight. A lack of tools to report autonomously means:

  • huge amounts of time lost to manual reporting
  • making decisions without a true qualification of the numbers
  • this is a recurring issue, month on month

 

Using Multiple Systems

Different systems have different functions so, naturally, it’s common practice to use more than one of them in your business. However, you’re likely to run into problems when these systems don’t communicate with each other effectively. Often, you’ll find bridging the gap between the two is an exhaustive process and is a big drain on staff resource.

Managing Several Email Accounts

It’s natural to have several points of contacts for different aspects of business. However, some staff members are often left juggling multiple email accounts for activity, which can confuse the process of monitoring and actioning emails.

Operations

Picture a common scenario: the logistics department are at capacity and can’t fulfil an order by the deadline that the sales team have just promised the customer.

  • Does the business find a way of rushing the work to hit the deadline, risking quality?
  • Does the business apologise to the customer and risk disappointment?

A clearer view of what each department both delivers and requires can make this a smoother process.

What Next?

Ultimately, inefficient process can go beyond simply being a business headache. It can result in lost time, money and even have an impact on staff morale. However, working out how to tackle this might seem unclear.

An entire overhaul works for some, but might not be the best option for all businesses. Instead, prioritising a specific process can often be a good start, and can help to to qualify the time you’re able to recoup.

To work out what this looks like for your business, you can try our handy Task Calculator to help with the numbers.

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