Today’s business world is increasingly complex and business have to respond fast, which requires the team to have more dynamic moves. With such a growing number of employees, locations, partners, processes, and business system, no decision makers could possibly run a business on their own. And no workforce can succeed without a fine-tuned operation that can manage so many moving parts.
From past experience and research, lots of SMEs has been running their businesses the same since they started. A process that has been completed in a certain way in the past doesn’t mean that they cannot be improved. Research performed by Aberdeen Group shows that 400 organizations across the globe, 45% of the respondents indicate that they need to update their business process, including applying technology in order to improve and become more modern and efficient, incidentally, to provide products and services with better quality to the customers.
The key benefits of improving business processes include
1) The organization will first enjoy improved efficiency by removing, combining, or improving steps. The number of employees involved in the key business processes will help the organization to drive down the time taken to complete the process. This reduces the risk and can save on operating cost.
2) The quality of products and the response time to customer requests will be improved. This will gather better customer satisfaction and increase revenue subsequently.
Research also shows that business that focuses on Business Process Management (BPM) are more focused on continuous improvement. Businesses that have BPM and ERP have the ability to capture and integrate ideas from multiple sources. Furthermore, business that have processes in place allow them to manage non-compliance, recall events across the organization, and tracking results. BPM also allows them to react immediately and adjust the processes to ensure that things continue to run smoothly.
Lastly, with processes in place, this will provide guidelines for the employees to perform their jobs as efficient as possible. With that, employees are able to perform their best to meet the standard of the company. These performance improvements can ensure on-time delivery of products and services, which allow the business to increase their profit margin.
Reading the business processes allows business owner to map out and optimize their strengths and resources. However, planning on how to run a business and to execute the plan are two different things.