What is Business Process Optimization?
We all want our businesses to run like well-oiled machines, but the reality is all our systems – even the most fine-tuned of them – get rusty from time to time. As technology changes or business priorities shift, current processes need to be reevaluated in order for all areas of your business to continue achieving optimal performance. This is where business process optimization (BPO) comes in, and it’s an essential exercise if you want to remain competitive and cutting-edge in your industry.
Business process optimization is a practice organizations must undertake to improve efficiency in any given area. Through process optimization, organizations big and small can eliminate redundancies, streamline workflows, reduce errors and gain a competitive advantage by cutting the fat from their processes.
Examples of Business Process Optimization in Action
If you take a look around your organization, you’ll find numerous processes ripe for optimization. Many Small to Medium Sized Businesses look for technology to optimize their processes, and there is a strong argument to using technology precisely for that. Yet there are many other human-focused processes that are – potentially – able to provide a bigger impact to your operational efficiency.
Here are some examples of human focused processes that could likely be optimized.
- Employee onboarding and orientation – Bringing on new team members kicks off a series of events that touch multiple departments. While HR manages the contract side, commonly IT must issue a laptop and set up account access. Meanwhile, the hiring manager must also be looped in. If any part of the onboarding process involves manual processes, not only are errors or oversights likely to ensue, but so too are delays. Conversely, the entire process can be streamlined if steps in the employee onboarding process are automated and optimized.
- Compensation and benefits administration – Payroll management and other HR administrative tasks are time-consuming and leave no room for error. Fortunately, they are also good areas to optimize. By automating and/or
outsourcing some or all of your HR services, you can save time and money while ensuring compliance and reducing the risk of errors.
There’s no denying that improving one singular process is certainly beneficial, but businesses stand the most to gain when they seek to optimize processes across their entire organization. Every little improvement makes a difference. Organizations should continually review their processes to ensure ongoing optimization. BPO is not a one-and-done exercise.
To learn more about business process optimization and see which areas in your organization might gain the most in terms of improved efficiency, contact us at The OIS Group. We’ll conduct a full review free of charge to help you identify opportunities for achieving even better results for your SMB.