Your company in performance modeReading time : 2 minutes
Productivity is the ratio of your company’s output (in goods or services) to the resources needed to achieve it (materials, labour, equipment, capital, etc.). Increasing your productivity means converting your resources more efficiently so that you achieve greater results. How can you do this? Here are 3 possible approaches to consider.
1. Develop a strategy
As a first step, map your current processes. A process map is a visual description of your workflows: it shows the series of events that lead to the final outcome, including the people, tools and factors involved. As a result, it allows you to analyze your processes and target sources of waste, making it easier to plan and manage your operations.
With your company’s business goals in mind, review this map to determine where improvements can be made and then develop an action plan. To get results faster, take a phased approach, where you focus your efforts on a limited number of priorities.
External partners can be valuable allies in determining your company’s strengths and weaknesses, mapping your processes and developing your productivity improvement strategy.
2. Put technology to work
Implementing innovative solutions adapted to your reality and your needs is an investment in your company’s performance. These technologies have the potential to significantly increase your productivity, while minimizing your technology debt.
- Automation is designed to reduce human intervention in your business processes. It increases your company’s productivity by eliminating repetitive and non-value added tasks.
- Business intelligence (BI) leverages your data to provide you with relevant information for strategic decision-making. Learn more about the benefits of BI solutions
- ERP software is an integrated management system for your company’s main processes. It centralizes and distributes information generated by various departments: production, procurement, sales, accounting, etc.
- Artificial intelligence (AI) is the simulation of human intelligence integrated into a machine or system. It enables machines to process language and visual information, recognize patterns http://en/lexicon/artificial-intelligence-ai/and make decisions. Discover 5 ways to increase your business performance with AI.
3. Benefit from the expertise of an external partner
Your company has developed its areas of expertise – what it’s really good at. In order to focus on these activities, you might benefit from outsourcing other tasks or projects. Payroll management, customer service and accounting are examples of functions that can be outsourced. Evaluate this option by comparing the resources currently required for these activities with the rates and time required by the outsourcer.
Technology projects are particularly conducive to creating a business relationship with an external partner. In addition to having expertise in technology, a good business partner will take a fresh look at your processes and will be able to advise you on the most beneficial innovations for your company.
In addition, in a context of labour shortage, building a high-performance IT team with excellent synergy can be a challenge. By choosing the right partner, you benefit from a specialized team that has the necessary experience to successfully meet your technological challenges.
Want to increase your company’s productivity through innovative solutions?
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