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Oct 18

Improving the Efficiency of Your Business

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October 18, 2014

blog_inner2The key to business efficiency is making the most of what you have. There is a direct correlation between the efficiency of one’s business and overall profitability. Below, we discuss several ways in which an organization can fine tune its internal processes in order to become more efficient.

A business owner can save time and money by outsourcing certain functions, such as HR and bookkeeping. By outsourcing these functions, a business owner can free up additional time to prospect for more business.

Consider Switching Suppliers
If your current supplier is continuously increasing their prices, you should consider looking for a different supplier. Competition drives down prices. Do some research on the suppliers who currently service your business and determine whether a more cost-effective supplier exists. Reviewing suppliers on a regular basis can alert you to any price increases on their end, saving you time and (more importantly) money down the road.

Maximize Your Office Space
Another way to improve efficiency and reduce costs is by making your office space work for you. Making sure you acquire the right space for your growth strategy can be very important. Getting it wrong can be expensive and will likely result in having to make another costly move in the near future. Having a plan ahead of time regarding workspace is key, and negotiating lease terms that allow for the assignment or sublet of the office space is crucial in the event the business grows and you need a larger space.

Transportation Costs
If your business requires the use of a vehicle or vehicles, there are several ways to keep costs down and run more efficiently. As we all know, rising fuel costs have forced individuals and businesses to think outside the box regarding transportation costs. One way to save money is to replace old, inefficient vehicles with new, alternative-energy ones. Additionally, you can save time and money by outfitting your vehicles with GPS to route a more efficient direction.

Upgrade Technology
Technology is what makes a business. This is one area where a small business can achieve the most improvement in efficiency and productivity quickly and easily. The most obvious way is by moving to the cloud or web-based system. By doing this, you can reduce the time and expense of constantly upgrading in-house hardware and software.

Employee Productivity
Every business owner knows that time is money. Making sure your employees remain productive is one of the most important things a business owner can do to maintain efficiency. Setting ground rules for your employees at the outset, as well as committing them to deadlines, will work to make your organization efficient right now and for many years to come.

Increasing business efficiency and employee productivity using the above approach requires a company to have an infrastructure in place that fosters the motivational drivers the company finds most valuable. This infrastructure includes processes for training owners and managers to understand how to best motivate employees. Jakoba Software can help your company achieve measurable, sustainable results for improved business and employee efficiency. Contact us today to find out how we can help you get the most from your employees.

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700 NW 42nd Street, #215
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Phone: 206-706-1600