With the global economy looking fragile and one of Australia’s largest trading partners, China, slowing down, it’s important for Australian business decision-makers to re-evaluate their position as the new financial year begins, according to Atradius. Mark Hoppe, managing director, Oceania, Atradius, said, “The start of the new financial year is traditionally an ideal opportunity for Read More…
A recipe for success: growing your business with a dash of streamlining and a pinch of automation
Thu 22 September 2016 - 4:48 pmExport | Growing | Growth | Import | Export | Retail
Any inefficiencies within your business can eat away at your bottom line and makes things a lot harder than they should be, which why it makes sense to find some ways to streamline your operation.
There are many aspects of your business to evaluate from using an international parcel service to keep control of your shipment tasks, through to keeping a keen eye on your operational expenses.
Embrace the power of automation
There is no question that automation has transformed many industries with new technologies changing the face of the modern factory floor amongst many examples, so it makes perfect sense to target ways that you can automate some of your business processes.
Automation doesn’t just have to involved fitting new machinery that does the job of a human in a much quicker time and with a greater level of efficiency, there are also some ways to embrace the concept within your online activities.
A good example would be the idea of looking at automating your email marketing strategy so that you can really ramp up your sales numbers. Email is a proven way of generating new customers, but the recognized problem is that it is a numbers game, which means that you normally have to send a large number of email marketing messages in order to get your desired response rate.
There are now a number of reliable and user-friendly email service providers who can organize email campaigns and provide you with everything you should need to be able to automate your campaigns.
Make the most of available technology
A common theme amongst most forward-thinking businesses, regardless of which industry they are in, is the fact that they have chosen to embrace technology and worked on identifying areas in their company where they could introduce automation.
Targeting travel expenses is one example of where technology can help you to reduce your current overheads in this area.
There a growing number of firms who have identified some significant savings by offering some of their workers the chance to work from home and simply hook up to the company intranet from their own surroundings rather than wasting time and money commuting. This approach also means that you could save on premises costs if you don’t need such a large office to operate from.
A number of sales departments are also making use of video conferencing to conduct sales meetings and demonstrations, saving money on traveling and accommodation costs..
One of the most obvious ways to set about streamline your business is to make it your task to try and reduce the current paper flow levels.
Trying to achieve a truly paperless office is a worthy goal, but as many have discovered, it is not always that easy to do. That does not mean that you can’t make some significant reductions by analyzing exactly aspects such as what information you take from paperwork and how you could file that data electronically in order to cut down the paper trail and improve efficiency at the same time.
Filing and document storage is another drain on your resources as they take up a lot of physical space. A way to address this problem would be to look at introducing a document management system, to free up more space and improve efficiency by making information retrieval easier.
Power to the workers
If you are truly committed to the cause of streamlining your business and improving efficiency, the answer is often to empower your employees.
Employees are well placed to identify any failings or weak spots in your daily business processes, which means that they will often have some very viable input to offer on how things can become more streamlined.
Involving workers in the discussions surrounding areas where cost savings can be made and greater efficiency achieved, will often be rewarded, when they are able to identify aspects of your business process that can be improved, mainly due to the fact they are on the frontline and see how it all comes together on a daily basis.
Another aspect of streamlining that is always worth considering, is taking a look at what parts of your business could actually be done more efficiently and at a lower cost, if they were outsourced.
There are a number of benefits attached to outsourcing, provided you explore all of your options and decide which way to go in the interests of improving the efficiency of your business.
About the author
Francesca Thomas has been running her own business for more than 10 years. She enjoys helping other business owners succeed, especially newbies, and writes articles in which she shares some of her knowledge and advice.
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