Whether you run a large or small company, there are always ways in which you can improve the efficiency of your working processes and cash flow. Body:
When it comes to giving your company an extra boost both in terms of efficiency and money saving, a great idea is to think of the ways you can streamline your business. A little creativity can go a long way, both in terms of money retained and smoother working processes overall.
Firstly, consider cutting back on the amount of paper you use. Paper waste can cost businesses hundreds of pounds every year. Asking yourself, and getting you employees to ask themselves, a few simple questions could drastically cut down the amount of paper and other materials your business wastes on a daily basis. For instance, do I need to print off this email? What are the benefits of printing off this document? Is this paperwork important for me to perform my job?
These are all useful questions to ask before committing anything to paper. Just because old working practices dictate that everything must be present on paper doesn’t mean that times do not change. Also consider introducing a paper-saving incentive to motivate employees.
Speaking of incentives, set up a system in your office where members of staff can make suggestions on how to cut costs or speed up processes via a suggestions box and have a prize for the best idea each week or month. Remember that your staff often know their area of the business extremely well and therefore are a valuable resource which should not be left untapped.
However, not every employee needs a company laptop or mobile phone, so direct these benefits to where they truly make a difference to your company. Also consider shopping around for better deals on your utility bills and remember to switch off any non-essential equipment when not in use. Change appliances to low energy usage appliances to save money in the long run.
Outsourcing is a great way to save any sized business all important revenue. For complicated tasks, outsourcing is ideal for freeing up essential time for more important areas and helps to aid staff flexibility.
Finally, consider updating your technology. Although this move may cost you more at the outset, updating your systems and software can vastly improve productivity and efficiency across the board, which ultimately means increased long term revenue for your company. Consolidating your software saves precious time and there are plenty of integrated packages available for both small companies and large. Also, if you haven’t already, switch to a business broadband which can normally offer you a better deal than for private use and broadband will significantly improve your internet speed.