Operational efficiency is about your inside process — creating a consistent, effective and highly efficient way of working in order to maximize your resources in a manner that will best serve your business goals and objectives. It involves people, process, workflow and technology — all used smartly.
Often, a process (a series of tasks) is developed to achieve a specific outcome. Sometimes a process solves one problem but may create another. Or, perhaps the process may become handed down to staff over time as ‘the way we do this’. With small teams and lofty business goals, that’s simply not good enough. Processes should be reviewed and refined routinely to streamline actions and activities or identify options for automation, ensuring efficacy and efficiency throughout.
Closely tied to process is the supporting workflow of a given process. Workflow refers to the sequence of steps or tasks required to complete a specific process. Workflow is critical to efficiency as it encompasses the movement of information and resources from one step to another, often involving critical coordination between people and technology.
Strategic implementation and integration of the right technology solutions for your business allow you to significantly enhance operational efficiency, reduce costs, and streamline processes and workflows in the most advantageous ways to support your business. Ensure you use technology to your optimum advantage, supporting your people, process and workflow.
The benefits of creating improved operational efficiencies are numerous. Improved efficiency is essential for businesses seeking to optimize performance, reduce costs and remain competitive in today's dynamic marketplace.
Often you can optimize limited resources by making all they do, streamlined. The right choices can make your business more efficient and more effective — reducing costs, waste and inefficiency. By optimizing process and workflow, along with adding smart technology and integrated systems where they make sense, you can significantly increase your capacity and output with the same team you started with.
Today's technology options and platforms provide a myriad of solutions with flexible options that you are able to customize for your specific business needs. You can collect information all along the way, using the data to make informed decisions faster than ever before, giving your business a competitive advantage. Smarter decisions, informed by data, enabled in real time.
With the right construct for your operations, you can best support scale, evolution and growth of your business. Operational efficiency is a foundational element, allowing you to manage growth effectively, allocate resources efficiently and adapt to changing market dynamics. All while maintaining your focus on delivering value to your customers.
Where should you start? Here’s a roadmap.
A roadmap to refining your operations for maximum efficiency.
- Document: Define your business goals & objectives as a guiding lens.
- Make Selections: Identify key processes (avoid silos).
- Review: Spot inefficiencies & bottlenecks.
- Garner Input: Engage your team to surface pain points.
- Document: Frame the Work: Categorize opportunities by people, workflow & tech.
- Leverage Technology: Identify real-time data needs & automation potential.
- Do Your Homework: Research industry benchmarks & best practices.
- Prioritize Efforts: Rank by impact, feasibility & cost.
- Create Your Plan: Assign responsibilities & define timelines.
- Implement: Deploy changes & track key performance metrics.
- Document: Share new processes for team alignment.
- Test & Iterate: Pilot, assess, refine.
- Continuous Improvement: Encourage feedback & ongoing refinement.
- Regular Review: Monitor and optimize processes for long-term success.
By following these steps, your team can effectively identify and address inefficiencies in your operational processes today. Thoughtful changes can lead your team to improved productivity, significant cost savings and overall performance improvement. Fix the inside process to help your business thrive in the market.
Better, faster, more — are you using your people, process, workflow and technology smartly? Lovely People can help. Let’s talk.