If your business has been seeking advice of software developers in automating any of your business operations, they may have already used the phrase ‘human in the loop’ to describe the process by which they will design your bespoke software to ensure that your business solution effectively addresses your company’s tech challenges. It is also sometimes referred to as artificial intelligence (AI), a similar machine learning process.
Business processes should be viewed as an asset that is diligently managed, maintained and improved upon. This is because even the very best business plans will fail without process consistency. The need for consistency may seem obvious enough that it doesn’t even warrant a discussion. But the truth is, many businesses – especially small businesses – operate daily with processes that are disorganized, lack consistency, and are inefficient.
Client onboarding is the process for welcoming new clients into your business, addressing their questions and concerns, and ensuring they understand the services available to them. Don’t make the mistake of assuming your current customer service structure will taking care of the client onboarding process as this can lead to clients that become frustrated and cancel their account. Client onboarding is one of the most important functions for any business because it directly affects the client’s experience with your company, which will affect profits.
Customer retention is the actions companies take to get their customers to continue using their services. Surprisingly, it is not a high priority for most businesses. According to Forbes, as recently as 2012 many businesses ranked “driving sales” as their top priority while “building customer loyalty” was last place.
Bringing on new customers is important but it is even more important to keep the customers you already have. The higher your customer retention, the more profitable your brand will be.
Outsourcing has proven to be an effective model for companies looking to save on overhead and labor costs while improving efficiency. It is a model that can be scaled while still giving companies the option to adjust their resource distribution as necessary. Outsourcing can also improve productivity and give businesses the chance to focus on their core products and competencies. Increasingly, companies view outsourcing providers as innovation centers; according to Deloitte’s 2016 global outsourcing survey, 35 percent of respondents are focused on measuring the value of innovation in their outsourcing partnerships. Most companies choose to outsource in one of two ways: nearshoring and offshoring.
Nearshoring happens when an organization decides to transfer work to companies that are less expensive and geographically closer. Using this model allows businesses to move their operations to a closer, more cost-effective location. This closer proximity allows for fewer time zone differences, cultural discrepancies, and a greater level of control in decision-making processes. Many U.S. companies choose to nearshore work to Canada, Mexico, and other Latin American countries.
The right skills, in the right place at the right time is said to be the key to how business process management performance manifests success for businesses. The other invaluable element of the formula for future proofing an organization’s resilience and capacity to thrive is the choices of technology the key staff make i.e. the CTO’s and CIO’s, in collaboration with their CEO, Purchasing Director, Marketing and Customer Service Executives. There are arguments to be made that process improvement innovations should also involve all levels of staff whose work is impacted by potential deployment of software and new business process management systems in order to positively transform business inputs and outputs consistently and in an optimum manner. Continue reading →
Workflow automation is a created series of automated actions for the steps in a business process. It is used to improve everyday business processes because when your work flows, you can concentrate on getting more done and focusing on the things that matter. It allows teams to spend more time on the actual work itself and less time on the processes that support them.
Businesses that create workflow automation are more efficient, save time and money, and minimize the likelihood of errors. There are many benefits to implementing workflow automation, so here are the top five reasons you should begin:
Without your customers, your company wouldn’t have anything to do all day. Customers are essential to any company from a local grocery store and cleaning business to a computer manufacturer and toy company. To grow your business and make more money, you need to do one of two things or both at the same time, increase sales to each customer and win new ones. Customer win reports help you get there.
As a business owner, you know that one of the essential things to your business is good customer relations. Yes, your employees are important and your vendors, but if no one buys what you’re selling, then you’re out of business. When your business starts to grow, you want to make sure that you’re keeping up with essential information about your customers with customer tracking software.
When you own your own business, you need to be able to make good decisions that benefit your company from suppliers and ordering material to budgeting and investment of capital. In order to do that, you need to have a clear picture of all the information available to make these decisions. This is where intelligent business process management takes a part.