Use Process Mapping & Optimization for Maximum Business Efficiency
What to consider
With the current volatile economic state, it is critically important for businesses of all kinds to ensure that processes are organized and efficient. Waste within processes can be a key pain point for organizations – reducing efficiency, increasing costs, and slowing output. According to research firm IDC, inefficiencies can cost companies from 20% to 30% of revenue annually. That is a shocking figure – how could a company lose 30% of revenue to inefficiencies and not notice or immediately address it?
The simple answer is that often inefficiencies are carefully hidden under the umbrella of “the way things have always been done”. Cumbersome processes, unnecessary steps, unaddressed bottlenecks, excessive movement of information or things, legacy systems, and imperfect institutional knowledge can quickly lead to a business operating beneath its potential. Without a catalyst for change, many of these issues frequently remain unaddressed – or wholly unnoticed.
Less optimal market conditions can be that catalyst for change. Down markets are a classic opportunity for businesses to differentiate themselves. Favorable market conditions can mask many issues, but businesses that can adapt and succeed during challenging times are typically long-term winners. This makes the current time excellent for undertaking these critical process mapping, improvement, and optimization projects.
Cicero Group has internal experts who specialize in helping businesses recognize and overcome these challenges – creating leaner, better-functioning organizations.
Some of Cicero Group’s specific offerings include:
- New process development
- Plan rollout for change of product or service offering
- Standard operating procedure development
- System integration communication plan and execution
- Ensure adoption and sustainability of new process
- Service delivery strategy
- Margin optimization
- Customer segment analysis
- Service impact evaluation
Regardless of industry, these are the kinds of projects that companies should consider undertaking at the current time. In a climate with higher interest rates, lower consumer spending, and persistent supply chain issues, internal processes must be a strength, rather than an additional cause of concern.