5 Steps for Creating Leverage in Your Business

Well-designed, carefully executed systems are considered to be hallmark of successfully growing organizations. They can either make/break any business. As a Business Partner, your responsibility is to support business growth. Franchise should be used to illustrate need to develop systems to allow the business to run with great consistency. To leverage the business, there should be in place proper processes and systems. It helps develop consistency in service or product delivery.

Five steps to develop Leverage to enhance business process

1. Identify high value processes:

They require plenty of investments, have good number of people contributing/approving mundane/boring work or break down often. Perhaps, you might not be aware of the functioning of the process. It will be wise to break down things into tiny, easy to understand, graspable pieces. The process considered to be a whole department’s work can be quite large to successfully work.

2. Develop information inventory and document:

On choosing the process desired to be improved, develop inventory of information and documents flowing in and out of the process. Get to know the medium, quantity, purpose, storage location, owner and security needs of each information piece or distinct document. For example, an employee receives a PO received from client to place order. The PO is stored in a file cabinet close to the employee’s table. Such Digital assets are then moved for long-term storage annually. Maybe 200 of them are received weekly with half being via email and the remaining in paper form. It gets secured to Customer Service and Accounting Department. The concerned employee s to own and retain the same for a period of five years.

3. Review diagram, seek improvements:

Start questioning existing state of things. Identify transparency problems, time killers and bottlenecks. Seek things present there as it is performed always in that particular way. Remove things of no value, update process. In case any team member objects to it, then suggest new trials for time period. Customer learning experiences do count a lot for business growth. Do take it into consideration.

4. Work along with the team and map the process:

Several document processing strategies exist. Do not indulge in flow charting. Rather, use sticky notes or draw on a whiteboard. Identify both starting/ending point and fill right in the middle. On completion, take a picture. To convert the same into electronic format, it just requires some editing. As a Business Partner, logic should be understood behind it. On mapping a particular process, start with the next one and check out both together.

5. Consider BPM/ECM Software:

Using process map and document inventory is considered to be Digital assets. This allows you to select and implement viable software solution. Business Process Management and Enterprise Content Management Software help develop huge value if applied correctly to any well-defined process. The software can be used for approving documents, notify those concerned to take appropriate action. It also helps notify managers in case action is not being taken on time. Documents can also be sent for delivery, make real-time multiple system updates, offer forms to enter data, make accessible information instantly. Business logic can be applied to information flow, etc. Thus workflow gets automated to ensure mundane things are not required to be remembered. Moreover, it also helps escalate problems easily, thus enhancing customer learning experiences. Besides this, the team gets freed up to indulge in those things that need immediate action and thought.

Therefore, when Leverage is considered, it is derived through well-defined as well as well-implemented business processes. BPM software when applied to a well-defined process can make a lot of difference to the business.

Leverage

There are five steps involved in developing leverage in any business. Understanding and adopting them will help your business to go to the next level.