One of the key areas of managing a successful business is efficiency. There are many aspects to a business, and management streamlining is easier said than done. “Where do I start?” is a common question. Well, listed below are 7 solutions to areas of a business that can be streamlined using technology, hopefully creating a brainstorm about ideas suited to your area of business.
Receipt Storage and Tracking
If your business requires the tracking of receipts, then it’s time to take a step forward with the times and get a receipt scanner, enabling you to simply scan everything and store it online with a service such as Evernote. It’s far more organized, it creates and frees up loads of space, and if you should ever need to locate information quickly, you can access it and actually find something for a change.
Streamline T&C is a web-based system which allows users 24/7 access to records in a form which they can review and update at any time. It also features a complete library of T&C forms, which is reviewed by experts to keep up with regulatory changes and developments. Managers and staff are given email alerts and reminders and calendars showing upcoming events. It assists your business with staff retention, engaging closely with their progression, meaning staff are more likely to develop their skills within the business other than look elsewhere. The system can significantly improve your PI risk profile by identifying and addressing any areas of weakness before they become a problem. Ultimately, Streamline T&C can manage any number of staff, saving time and costs.
Financial Management Anytime
This isn’t to suggest you should do everything late at night, but if you are one of those types whose business brain never shuts off, then you need to start introducing technology into your life. Whether it’s asset allocation or logging your expenses to an expense reporting software, you can do it anywhere, anytime – meaning no more lying in bed with the laptop resting on your lap. Vital investment strategy decisions can also be made in advance, using the computer schedule to execution everything without your supervision.
Electronic Document Management Systems
fileSmart is an Electronic Document Management System installed to streamline business costs. These savings come from the cost of paper and postage through email and not having to pay for storing documents in filing cabinets or having to use offsite storage.
fileSmart not only reduces cost and space, it is also environmentally friendly, an area all modern businesses aspire to. fileSmart is scalable to nearly all documents, and being an electronic application, it receives regular upgrades to improve areas such as imaging and programming technology.
If you use different forms of management software to cover individual aspects, this shows you could benefit from an integrated software platform. This will eliminate the need to employ people to key in data from one system to another. There are loads of packages out there that will meet the needs of companies, a simple way of addressing all areas within one application.
Peacock Engineering Ltd EAM
Great ways to manage teams are using Asset Management Software to keep everything structured. In terms of complexity, cost, scalability and architecture, Enterprise Asset Management Systems (EAM), or Computer Aided Maintenance Management Systems (CMMS) come in a variety of forms. Peacock Engineering’s EAM System focuses on the IBM Tivoli Maximo Asset Management Software System, with over 100 man-years of experience across their team. The implementing drivers consist of:
Compliance – Some elements of compliance require demonstration of compliance with Safety, Environmental, and Pharmaceutical legislations to operate. Maximo offers functional support to manage these compliance processes whilst retaining the evidence trail needed to demonstrate effective control.
Availability – Earning potential of assets is inherently linked to industries in being able to fulfil their operational purposes when required. In a lot of situations the non-availability of assets indicates an operational loss that can’t be recovered. Maximo provides a flexible and refined capability for managing preventive and predictive maintenance routines that include metre and usage maintenance, condition monitoring and failure cause analysis.
Preservation – Operational assets have cost many millions to obtain and install, and this being the case, they are expected to perform effectively. A key aspect will be the execution of customary and suitable maintenance to make sure these assets continue to perform to the expected standard and life span of the asset that is maintained.
Reduce Unnecessary Meetings And Travel With A/V Tools
Ask yourself if every travel decision is vital in the business’ cost vs. benefit ratio. Ensure every business meeting/trip made includes a benefit for the company. There are loads of audio and video conferencing tools like Skype, all providing business meeting strategies instead of the need to travel. Ask the staff within your team likely to travel, such as sales reps and buyers to consider these options first. Self-booking tools are also simple and easy to install, a pre-program alert system that works in conjunction with the calendar, the alert asking questions like “Before you enter an event, have you considered a conference call?”
Hopefully, whilst you’ve been reading this article through, with your own business in mind, you’ve already come up with some of your own solutions in streamlining your business. There are many more solutions out there, so go online and find others specifically suited to your line of business.