Organizations seek to continuously enhance process efficiency to gain and maintain a competitive foothold through improved cost control and higher productivity.
Achieving Process Efficiency
One way to achieve process efficiency is business process reengineering, which requires process modelling for examination and identification of bottlenecks and gaps for streamlining of the process as a whole.
Process Efficiency: To Invest or Not to Invest
Processes vary in nature, extent and complexity, because of which the method(s) to achieve efficiency in them is not an off-the-shelf solution.
It is also pertinent to understand as an entrepreneur and a manager that enhancing process efficiency involves an investment of time and resources, both human and financial; therefore, the decision to invest in process efficiency is a subjective call on part of the management which is responsible for ensuring that such a decision is based on well-founded assumptions and a rationalized thought process.
However, for some processes, the decision to invest for efficiency is inherently endorsed and validated, and these are mundane tasks.
What are Mundane Tasks?
In the context of organizational processes, mundane tasks are repetitive but essential tasks. Typical examples in the financial industry include book-keeping, invoicing, regular payments, reporting, etc.
Mundane tasks and efficiency
If seen from a technical perspective, these are the tasks where efficiency is mandatory for two major reasons:
- They are unavoidable.
- Efficiency in these tasks spares resources for critical, value-adding tasks.
Imagine an accountant manually posting entries in the general ledger only to achieve a simple record at the end of the day, when his expertise and time can be utilized in value-adding tasks such as analysis and planning that can effectively bolster the company’s long-term strategic foothold.
It is therefore not just advisable but essential for an organization to ensure efficient processing of its mundane tasks.
Process Efficiency Decision for Mundane Tasks
Process efficiency comes with a cost and the same is true for gaining efficiency with mundane tasks. However, from an entrepreneurial point of view, cost vs benefit is the key to making decisions involving process efficiency.
If the cost of, or technically speaking the investment in, process efficiency is overweighed by the yield in terms of resources saved for value-adding tasks, the answer to the question of whether or not to undertake process efficiency is a big yes, and with this as the benchmark criterion, the decision to achieve efficiency in mundane tasks should be made without a second thought.
Ways to Achieving Efficiency in Mundane Tasks
The methods to achieve efficiency in mundane tasks will vary on a case-to-case basis but some of the mainstream, proven methods include:
If your organization is suffering from process inefficiency owing to overwhelming mundane tasks, automation is the remedy. Spare not a moment in introducing IT solutions to deal with them. In the backdrop of the finance industry, there is no dearth of tailored or off-the-shelf IT solutions that can relieve you from mundane tasks through automation and process integration.
Although sometimes impractical and not always easier said than done, delegation still remains one of the ways to save valuable resources expended on mundane tasks, except where the information in question is of a sensitive nature. Those at the helm of affairs should delegate mundane tasks to subordinate tiers of the hierarchy so that they have more time and energy at their disposal to focus on affairs of a strategic and tactical nature.
Outsourcing & Co-Sourcing
Not the same as delegation, yet a derivative of the same concept but a more professional and refined one, outsourcing and co-sourcing are perhaps one of the best contemporary responses to organizational inefficiency resulting from mundane tasks.
Specialized firms comprising professionals from domestic, international and even transnational talent pools provide a range of solutions to organizations suffering from process inefficiency, including sluggish performance caused by mundane tasks, through outsourcing and co-sourcing support.
The support takes the form of the outsourcing or co-sourcing partner deploying its own resources for the client organization, saving the latter the resource much needed for value-adding tasks.
Expertise Accelerated – your outsourcing and co-sourcing partner – leverages on its global, transnational talent pool, comprising high-quality professionals from domestic and offshore sources, to provide you with assured business process efficiency for a strategically secure future.
Do not let process inefficiency or mundane tasks erode your competitive foothold or hamper your business growth. Book your FREE CONSULTATION today. You may also reach out to the experts at Expertise Accelerated through call at +1 (203) 542-7277, email at email@example.com or walk-in at 500 W PUTNAM AVE STE 400, GREENWICH, CT 06830.