How to Improve Your Company's Efficiency

I‘m always on the lookout for articles with the potential to positively change a business. What’s your take on the following points I came across recently??

Efficient businesses are able to manufacture products, offer services and meet their goals with the minimum of effort, expense or waste. This allows them to allocate more resources to research and development, reduce costs and increase profit margins. However, every business is different, meaning that there isn't a boilerplate method that will work for all companies and organizations. However, there are general principles you can apply to a variety of businesses and situations to improve your company's efficiency, regardless of which industry it is in.

1. Eliminate communication barriers from within the company. Companies structured along a top-to-bottom hierarchy or composed of a series of independent divisions competing against each other do not create a healthy medium for sharing information. Create a network system which allows workers to store and share information on a central hub. Encourage an open-door culture where workers are not afraid to provide suggestions and feedback to management and coworkers. Better communication increases the efficiency of your company by ensuring that all relevant parties have access to the information they need to perform. 
2. Go digital. Becoming a paperless business is not only a fashionably green measure; it also makes financial sense. It streamlines your company, improves the speed at which you share work-related information and reduces supply costs. For instance, request your bank, providers and clients to send statements, invoices and orders electronically, and limit the printing of emails and documents as much as possible.

I’d be really interested to know your opinion. Check out the full article here and then I’d be happy to discuss with you by phone (0467) 749 378 or email [email protected].

Thanks,

Robert