flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

Why Your Business Will Benefit From Putting Processes In Place

Editor's Note: Take a look at our featured best practice, Kaizen (254-slide PowerPoint presentation). Explore the evolution of Kaizen, a transformative strategy originating in the 1980s that has revolutionized the success of renowned Japanese companies like Toyota. Beyond a conventional management concept, Kaizen is a dynamic and contemporary approach to achieving continuous improvement, [read more]

Also, if you are interested in becoming an expert on Process Improvement, take a look at Flevy's Process Improvement Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.

* * * *

pexels-photo-533189There’s a reason so many businesses rely on policies and procedures to run their company. It’s a smart way to complete the work and makes less room for mistakes. While it’s definitely an adjustment to how you normally proceed, the benefits are well worth a little time spent upfront getting it all organized.

It’s too risky to continuously depend on work that’s submitted individually, with no guidelines in place. Stay focused on all that will go right, instead of any hesitations you have. Know that there are already a large number of businesses who have processes in place and are thriving because of them.

Keeps Everyone on the Same Page

When your staff is working from the same templates and documents, it leaves less of a chance that there will be confusion. Everyone starts to understand how it goes and what to expect when they’re compiling information. Your group begins to adapt the same language and steps for completing the task at hand. Quality doesn’t suffer when someone’s away or unable to perform the duty because all your employees know how to execute the action.

Faster & More Efficient

Having processes in place saves time and is efficient. For example, you can use a paycheck stub generator to create check stubs right in the office.  All you have to do is generate, print and use. Not only does a pay stub serve as proof of income, it also helps you keep track of salary information, taxes paid, overtime pay and more. This is a task that moves along quickly when you’re completing it online through a process that’s in place, instead of manually.

Get Answers Quicker

Bosses need to have answers right away a lot of the time. Knowing how to perform a task by using a process speeds up the completion.  It also gets the people who need the information their data in record time. You also don’t have to reinvent the wheel each time. There’s not a whole lot of time to waste when you’re working with clients and needing to move projects through. It’s nice to know that you aren’t going to be tapping your toes for long when there are templates and successful procedures to adhere to.

Improves Communication

When you’re all on the same page, there’s less of a risk of running into any miscommunication. The process is clear and everyone knows the drill. Project expectations are set well in advance, so it’ll be easy to tell if there are any errors right away. There’s usually not any need to ask a bunch of questions when you’re going through the typical processes. This way of working doesn’t require a lot of back and forth, which also helps improve communication.

Conclusion

There are a lot of reasons why it’s worth considering implementing processes at your business. Use these explanations to assist you in making your decision. It’s likely that if you move forward you won’t be disappointed with the outcome.

157-slide PowerPoint presentation
In this Business Process Reengineering (BPR) presentation, we delve into the dynamic landscape of modern business, influenced by the three Cs: customers, competition, and change. Traditional organizations, originally designed for stability and mass production, now face challenges in a [read more]

Want to Achieve Excellence in Process Improvement?

Gain the knowledge and develop the expertise to become an expert in Process Improvement. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.

Process Improvement involves analyzing and improving existing business processes in the pursuit of optimized performance. The goals are typically to continuously reduce costs, minimize errors, eliminate waste, improve productivity, and streamline activities.

As we continue to deal with COVID-19 and its economic aftermath, most organizations will prioritize Business Process Improvement initiatives. This is true for a few reasons. First, Process Improvement is one of the most common and effective ways of reducing costs. As the global economy slows down, Cost Management will jump to the forefront of most corporate agendas.

Secondly, a downturn typically unveils ineffective and broken business processes. Organizations that once seemed agile and focused during periods of growth may become sluggish and inefficient when demand drops off.

Lastly, COVID-19 has expedited Digital Transformation for most organizations. One of the quickest and most impactful forms of Digital Transformation is Robotic Process Automation (RPA). Thus, we have included numerous RPA frameworks within this Stream.

Learn about our Process Improvement Best Practice Frameworks here.

Readers of This Article Are Interested in These Resources


139-slide PowerPoint presentation
Our business process improvements methodology BPI 7 is a proven and systematic approach to continuously improve an organization's existing business processes. The Business Process Improvement (BPI 7) Training Module includes: 1. MS PowerPoint Presentation including 141 slides [read more]


 
39-slide PowerPoint presentation
 
 
38-slide PowerPoint presentation

About Shane Avron

Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.




Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]

  This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]

We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]

  We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  


The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.


Connect with Flevy:

     
  


About Flevy.com   /   Terms   /   Privacy Policy
© . Flevy LLC. All Rights Reserved.