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  • Writer's pictureCaroline Brie

Maximizing Your Benefits From Streamlining in 2021

Streamlining is the process used to simplify or eliminate unnecessary work-related tasks to improve the efficiency of processes in businesses or organizations. This requires the usage of modernizing techniques, technology, and other possible approaches to task organization.

A process has been streamlined when it has been simplified. This simplification process is usually achieved by removing unnecessary or complex steps. There are several ways to streamline a process that includes various approaches; implementing leading financial software solutions has proven to be the most effective action to take when streamlining different aspects of an organization. To increase productivity and overall corporate performance, finance teams should understand what technological resources they can use to streamline their workflows and processes, and specifically how making this change can benefit their organization.

5 Specific Benefits of Streamlining

By streamlining your organization’s daily processes, you can achieve many different things that require less work and free up time. Here is a list of benefits your business or organization may experience when you streamline your processes and workflows:

1. Improved productivity:

Your employees will likely become more productive when processes are streamlined and they can have a more accurate idea of the daily tasks and expectations assigned to them. They will be able to focus more on the quality of what they are producing when unnecessary tasks are reduced.

2. Maximized Cost Effectiveness

Streamlining software can decrease the amount of paper used in a workplace, and enables your organization to operate with less staffing, since data entry and processing can be done automatically. This opens up your options for how you can spend your money.

3. Better Communication

Streamlined management systems have proven to improve communication between departments and allow for better tracking of completed tasks. Employees spend less time moving around to communicate with each other and can get to assigned tasks in a more timely manner.

4. Minimized risk

Businesses with streamlined processes have greater transparency. It is easier to capture the progress of your employees and notice mistakes or missed deadlines from one location. For instance, streamlining may also help with business obligations such as complying with certain regulations or delivering some product or service you may produce on time to your clients.

5. Improved Time Management

With a reduction of tedious tasks, greater productivity, and faster communication, you will likely be able to manage your time better, execute the most critical tasks first, and have buffer-time in between tasks.

The Best Practices in Streamlining Processes and Workflows

Streamlining processes and workflows may take some time and is best completed in small steps that contribute to your organization’s improved efficiency and productivity goals. Organizations can streamline processes by reviewing the details of how they manage their individual challenges. An organization needs to decide which specific areas to streamline. The following 5 actions are steps a business can take to streamline processes and workflows to improve their productivity and efficiency:

1. Streamline and automate processes via software implementation:

There are now many modern workflow software solutions that help with streamlining business processes and workflows. Among these solutions is Corporate Performance Management (CPM) software. Most CPMs have a number of benefits in common, such as making it easy to collect data in a central location, automating steps in business workflow, and generating better visibility with graphs, charts and reports. However, each one has its own features and capabilities that will benefit different career fields and organizations. An example of a unique feature would be a system that offers real time project status updates, enabling all teams and departments to coordinate between themselves, and consistently be up to speed with a variety of tasks.

2. Assess existing processes and workflows:

When you assess your current processes and workflows, you can get a significantly clearer, overall idea of the exact way things are done before you can notice what areas could be greatly improved by streamlining. For instance, it may be helpful to list your processes and workflow in the most simplistic terms, write down what you believe the benefits of each process is and list each person involved in the process.

3. Rank processes:

It can be surprising to find out exactly how many processes and workflows are actually carried out to complete goals or tasks. Many processes and workflows are interrelated and may not be as important. That said, an important step to take when streamlining processes is to write down a list of processes from most important to least important. This can help you decide which process to streamline first, second, third and so on.

4. Analyze outcomes:

Once you have assessed the processes and workflows, you may analyze the outcomes or results of those processes and workflows. This gives you a perspective on processes that are tedious, unnecessary and not budget-friendly. For example, you may note in the assessment that there are five bins of paper shredded and taken to the trash each day. When you analyze the outcome you should calculate the cost of the toner and paper, the time employees spend printing and shredding and compare what a new software could do to improve a certain process or workflow in your organization or department.

Moving Forward with Streamlining in 2021

It’s too easy to fall short of your organization’s objectives when you are forced to juggle an excessive amount of overly complex tasks. Any company can seize a paramount competitive advantage by changing their approach to work tasks and processes, and streamlining with the best practices and the best available tools has proven to achieve that. You can seriously advance your efficiency, communication, and productivity by advancing with this work strategy.

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