Time Wasting Mistakes Made By Businesses

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“Every day is a bank account, and time is our currency. No one is rich, no one is poor, we’ve got 24 hours each.” Christopher Rice^[1]

We all know how precious time is, and for businesses, effective time management can be the difference between success and failure. Many businesses invest in costly consultancy agencies to analyze their organizational structure to foresee possible efficiencies and instigate cost cutting initiatives.

However, it is estimated that administration procedures, such as document creation, can take up to 60{9e5c399d4686ffbee71f542e7a95a67178027d042b67cd6e8c3b22a26beb12ba} of a company’s time. In turn, this equates to 45{9e5c399d4686ffbee71f542e7a95a67178027d042b67cd6e8c3b22a26beb12ba} of its labor costs. This is why it is necessary for top level managers to focus on administration processes and understand how the company creates, shares and distributes information.

So with this in mind, here are three time wasting mistakes made by businesses:

Business Mistakes

Mistake 1: Scattered Data

Requesting a report for an internal meeting or for a client may seem like a simple task, yet the processes involved can result in the request taking longer than expected – disrupting your work flow.
While many mangers see this as part of the day job for their team, incompatible systems or data being hosted on a variety of systems requires multiple logins. In addition users need to search for the appropriate data and then populate the report. Dated systems and processes can lead to significant inefficiencies when collating and presenting information.

Mistake 2: Lack of Internal Communication

Within the creation of reports, Account Managers, Project Managers and even top level executives may need several components of information when compiling reports.
These might be delegated to several members within a team in the hope of making better use of company time and establishing efficiencies. However, if the staff aren’t aware of who is involved in the project, let alone knowing who has been delegated which specific task, this can cause delays and duplications too.

Mistake 3: Spending Too Much Time On Document Production

Having collated the appropriate data, many companies still rely on using standardized word processing or spreadsheet packages to present the information. The time it can take to create appropriate documentation, as well as proofread each amendment, can quickly add up and cause delays for other projects. However, there are a number of solutions which can be implemented to increase the efficiency of your administration processes – increasing your company’s productivity overall.

Business Solutions

Solution 1: Review Your Technology

As your business expands, the demands and internal capabilities will also need to change. New technology enables businesses to perform tasks quicker and with greater flexibility. However, having software which can perform a multitude of tasks, such as the storing, collating and production of reports will add an element of workplace automation; reducing the time associated with scattered data and incompatible systems.

Solution 2: Increase Communication Channels

Any communication relating to projects should be kept between all members of your team. Better collaboration among teams, both on an informal and formal basis, is now the priority for 40{9e5c399d4686ffbee71f542e7a95a67178027d042b67cd6e8c3b22a26beb12ba} of managers [2]. By incorporating social spaces in offices, and using dedicated software for project management and sharing documents, this increases the opportunity for greater communication between colleagues. Teams will be able to keep-up-to-date with the status of workflow in real-time.

Solution 3: Doxserá: Document Assembly Software

While templates may have already been created in a spreadsheet or word processing program, these can quickly become dated and inefficient. Issues can arise due to formatting associated with making bespoke internal/external documentation.

Doxserá allows the processing of data while combing this with template creation, from single forms to in-depth reports. This standardizes the content, yet still allows customization for both internal and external purposes, reducing the time associated with document production and proofreading.

Moreover, the software has the ability to be shared across networks, simplifying collaboration between teams. Existing customers using Doxserá software save 71{9e5c399d4686ffbee71f542e7a95a67178027d042b67cd6e8c3b22a26beb12ba} of their time originally associated with document production [3].

If managers focus on the internal administration processes, this can create an element of competitive advantage by freeing up your workforce, enabling them to engage in other projects. However, in order to stream line administration processes, document automation is an ideal solution to help with the collation and representation of data.

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