10 Tips for Increasing Operational Efficiency

https://www.startingpoint.ai
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November 26, 2020

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Analyze operational efficiency processes for success

Operational efficiency is crucial to the success of your company. Improving efficiency is a combined effort of measuring and refining processes, employees, technology, and financials. The goal is the continual improvement of these aspects to maintain and increase your business’s operational efficiency. Do you want to learn more about enhancing your operational efficiency? Check out StartingPoint, the platform for customer success and service management!

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1.   Know Your Operation

Being knowledgable about every aspect of your operation is key to increasing operational efficiency. By taking the time to evaluate different areas of your business, like places that are labor-intensive and might not be visited often by the corporate team, you can gain insight into the small things that occur daily. Performing metrics analysis and formal audits can give you even more tools to evaluate your operations.

2.   Provide Access to Information

Ensuring that each employee has consistent, secure access to crucial information plays an essential role in your operational efficiency. A reliable and secure network keeps your business agile. It allows you to react to market changes more quickly than your competitors by providing employees with accurate information that is easy to access. This secure and reliable network infrastructure also provides the foundation for technologies than can enhance efficiency, like IP communications.

3.   Regular Training

It’s hard to maintain operational efficiency if your employees don’t have access to best practice methods. Having workers trained on the different processes and systems that they use, or may use in the future, helps ensure efficiency. Regular training is beneficial for employees of every level, whether they have an entry-level position or have a role in the company’s corporate side. Establishing a coaching or mentoring program is a great way to keep everyone up to date on best practices for efficiency. Having publicly posted documentation of these methods is another way to make sure every employee is on the same page.

4.   Streamline Communications

Being efficient and knowledgable in the way your company interacts with customers is one of the most important things you can do, not only for operational efficiency but also for your company’s health as a whole. Your customers are the backbone of your business, and having phenomenal customer service plays a vital role in your success. Using a customer service management system, like StartingPoint, makes it easy to streamline communications for your clients and customers in an easy to access, all in one interface where your employees can assist them quickly and efficiently.

5.   Continual Improvement

Continuous operation improvements

You’ve probably heard a saying along the lines of “If you’re not moving forward, then you’re moving backward” This is as relevant as ever. Companies that focus on continually improving, rather than being satisfied with their position, tend to outperform their competitors consistently. Every aspect of a business has room for improvement and, no matter how small of an upgrade something seems, every little positive change has an impact. You never know how much a procedural advancement will affect things like quality, cost, and production times until you begin making changes and monitoring results.

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6.   Review and Refine Processes

Enhancing operational efficiency by refining the processes of your day-to-day operations is critical to improvement. One of the best ways to do this is by automating repeatable work. Most administrative duties that take up a large chunk of time each day can be automated from invoices, quotes, proposal development, and project planning to financial reporting. By reviewing which processes take up most of your employees’ time and seeing if it is possible to automate those tasks, they will have more time to spend on other aspects of the business. Even if you don’t plan on incorporating automation into the workplace, it is essential to document, review, and update your processes to stay on the road to continual improvement.

7.   Financial Strategies

Having a solid financial strategy is another crucial aspect of improving operational efficiency and scaling the business. Competition is always on the rise, and it’s more complicated than ever to decide on a strategy to provide for future growth and finance the company in the best way. There are a few best practices for maintaining a good, consistent margin for your company, like investing in shorter-term projects; they typically will require less administrative work, less planning, and a lower financial commitment. Another strategy is to avoid low margin work to the best of your abilities. While working for low margins can help you build a relationship with potential clients, it also negatively impacts the company’s financial situation and can lower workplace morale.

8.   Measure Performance

It’s hard to improve your performance if you aren’t measuring and tracking it. By using continuous feedback to guide your business’s planning efforts, you get to see which improvements will be the most effective and make those changes first. These processes can be tracked manually or with system management software. By measuring past and current performance, you can see how your methods have improved and where they need to be enhanced further.

9.   Employee Retention

Inefficient processes can frustrate employees by making it harder for them to perform their duties. To increase operational efficiency, you want employees to have high morale at the workplace. When workers are frustrated, they may interact with customers differently and possibly cause them to take their business elsewhere. If the inefficiencies don’t improve, you can lose great employees for reasons that could have been easily remedied. Satisfied, productive, long-term employees are critical to continually improving your operational efficiency.

10. Leveraging Technology

Computer network technology

Having access to consistent, accurate data about project management, finances, and operations is crucial to increasing operational efficiency; this is made much easier with the right technology. By integrating service management systems into your operations, you have all of the information you need at your fingertips, helping you stay on-time, on-budget, and improving your overall operational efficiency.

Operational efficiency is all about enhancing your current methods to stay ahead of the game. Are you ready to improve your operational efficiency? Get in touch with StartingPoint today!

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