Tips for Increasing Your Businesses Productivity in 2018

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If you happen to be an entrepreneur, growing your business is likely to be at the top of your priority list. One of the most practical ways to do this may be by looking at ways you can make your business more productive at all levels. Sometimes, there are certain practices that your business may be engaging in that aren’t this most productive. They could include taking hours on end to complete mundane paperwork, having time-consuming elements of your human resources processes or having inefficient accounts payable operations running.  Whatever the case may be, to grow your business, it is important that you consider ways to save time, improve your business practices, and ultimately be more productive. Below you will find three departments of your business where you can increase productivity.

Human Resources

Human resources can be seen as the very heart of your company as it consists of recruiting and managing the staff who essentially carry out the core functions of your business. One way you can begin to increase productivity in this department is by making better use of data. In 2017, 69% of companies were said to have been actively taking steps to make the way they look at people-related data more efficient.  It is a significant increase, as it was only at a low of 10-15% before this. This significant increase in these company’s sudden interest in data indicates that they may be onto something big. It could be how useful people data can be to analyze and predict the needs of staff as accurately as possible. As a result, this can increase the productivity of staff and the overall office productivity which helps the business as a whole.

Finance

If you are carrying out hundreds of thousands of transactions every month, you should ensure the means you’re using to pay your suppliers is efficient. Another place to look at is whether your current methods can handle exponential growth which could result in paying an increased number of suppliers over multiple borders. If it happens, and you’re using traditional accounts payable solutions, then it’s likely that you’re lagging behind in productivity. It could be due to the amount of time it takes to monitor trade and tax regulations, decide on payment methods, and deal with any payment issues that arise. To be more productive, you should consider a solution such as Tipalti to help streamline, as well as automate the final stages of your procure-to-pay processes.

Digital Marketing

Content is a great way to increase your business and drive overall sales. If you’re able to come up with the right content strategy, you’ll save the company time and money on wasted marketing efforts. Additionally, there are many aspects of content marketing that need to go through several phases before they are complete. These include things such as the creation and posting of blog posts and social media content in addition to digital advertisements. One of the ways to speed up these processes is by using tools to manage the process. The tools can help you plan, schedule, and post content, and means you can save time and help the content creation process run smoother. You should also consider ways that you can make in-house processes such as the transference, editing, and approval of content between departments.

Increasing your productivity as a business is something you’ll most likely continuously have to do over the course of running your business.  It will most likely require on-going efforts as well as keeping up-to-date with the latest trends, tools, and technology. Running a business may be arguably one of the most demanding and time-consuming things you’ll do. However, if you make an effort to increase productivity continuously, hopefully, you’ll reap the rewards of your labor.

 

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