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Is Inefficiency Killing Your Company?

Inefficiency

An IDC study suggested companies lose 20 to 30% of their revenue thanks to inefficiencies within their company every single year. Are you part of that statistic? Imagine being able to regain even a fraction of that lost revenue simply by increasing your company’s efficiency. It’s a tantalizing dream, but how do you know if inefficiency is actually a problem for your organization?

The Symptoms

If your company is dealing with any of the following, it’s nearly a sure bet that you’re fighting inefficiencies that are damaging your profits.

  • You have systems that don’t communicate. That same IDC study found that nearly 80% of the businesses in the test group had software that simply didn’t play well together, and as a result, it was tough to track customers, vendors, documentation, and the statistics necessary to move their businesses forward.
  • Your Remote Teams Aren’t Communicating. It’s not uncommon for entire pieces of your organization to work remotely, and predictions have been floating for years that nearly half of the workforce will be remote within the next decade. Remote employees can mean big things for your company like increased access to talent and lower costs, but it can make sharing information tough too.
  • Your IT Department is constantly tied up with requests that are beneath their talent and skills. If your IT Department is constantly responding to problems like requests for information because your office is too disorganized or too under trained, it may be time to rethink the technology that powers your company, as well as how you train your employees to utilize that technology.

The Solution

Decided inefficiency is, indeed, kill what you do? There are many potential problem solvers, but perhaps one of the best is a solid ERP software solution that works with what you do and helps you communicate with everyone involved. to learn more about how we can help, contact us today.

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