4 Ways to Improve Back-Office Efficiency
Nowadays there is a constant push for companies to do more with less, but sometimes back-office problems fall to the wayside since they are not “what the company does;” however, it is vitally important that this push extends to all areas of any business. Here are some ways to make sure back-office efficiency is not being neglected.
1. Evaluate
Before you take care of any inefficiencies in your back office, it’s important to identify exactly where they’re coming from. You don’t want to disrupt efficiency even more by implementing new processes that aren’t an improvement. Instead, really take the time to look at where work is slowed down. Ask if each individual step, person and practice is the best version of itself. If it’s not, then what would get it there? If you take a step back from your process, you can make adjustments that will alleviate problems down the line instead of always needing to put out fires in the moment.
2. Automate and Outsource
One of the best ways to improve your back-office efficiency is to automate and outsource processes that aren’t core to your business. Many organizations choose to outsource payroll processing and tax filing to a payroll services provider, which costs them 18% less on average than businesses who keep these functions in-house, according to a study by PricewaterhouseCoopers. Platforms like Paycor’s Perform provide companies with a powerful and easy way to handle payroll, time tracking, reporting and analytics, recruiting and applicant tracking, and benefits administration.
3. Organize and Communicate
Of course you can’t outsource every operation in your business. So, the parts that you keep in-house need to be at the height of efficiency as well. Make this work organized and foster open communication. There are many project management platforms that enable this type of transparency and collaboration. With this new openness, business becomes infinitely easier, because you don’t waste time searching for the latest version of some report or document.
4. Follow up and Reevaluate
Any time you make changes to your business operations, it’s important to follow up to ensure that the updates are being implemented as planned and are having the desired effect. If you propose a plan and walk away expecting it to go as imagined, you’ll be disappointed. But if you follow it through the process, the chance of successful implementation increases exponentially, and you have a better vantage point from which to determine your next steps.
Achieving and maintaining efficiency is an ongoing process of evaluation, improvement, and reevaluation. With constant changes in government regulations and developments by your competitors, the status quo does not cut it anymore; however, by taking part in this quest for efficiency, you might just gain the competitive advantage you need to succeed. For more ways to address workplace inefficiencies, check out this free whitepaper.
Source: Credit Union Times
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