Whether you’re just starting your business or looking to boost growth, business efficiency is critical to ensure you’re scaling growth in the most profitable way.
Measuring Success and Impact of Business Efficiency
Before you begin to improve your business efficiency, you’ll need to determine how you will measure your success. One way to measure the success and impact of business efficiency is to evaluate productivity. Productivity can be evaluated, most simply, by using a formula: Units of Output/Units of Input. For example, for client service specialists in the health and wellness industry, you could measure productivity by the number of patient appointments scheduled/hours worked. This base can be built upon for more complex situations – read more about measuring business efficiency in this Harvard Business Review article.
Once you know how to measure the impact of increased business efficiency over time, you can focus on efficiency and growth. Here are 5 great ways to maximize business efficiency with technology:
Technology to Maximize Business Efficiency
It’s important to evaluate new technology for your business needs often. There are so many ways to leverage technology to maximize business efficiency, modernize your business and boost productivity. Here are some of our favorite tools for a variety of business needs:
- Scheduling software – like AcuScheduler.
AcuScheduler scheduling software is utilized by sales teams, marketing teams, customer service teams, support teams, advisors, consultants, and more. Used across the organization, scheduling software allows you to spend less time scheduling appointments and meetings and more time doing your job!
- E-signature software – like eSignLive.
From the simplest signing transactions to the most complex and regulated workflows, e-signature software integrates within your existing applications, automates processes and offers plenty of solutions to free up time from mundane tasks.
- Task management software – like Asana.
Task management software helps teams collaborate, manage multiple projects, and track progress across the business – So everyone can spend less time managing their work and more time doing their work.
- Time tracking software – like Harvest.
Tracking employee time can be a huge efficiency drain. Time tracking software takes a lot of the manual work out of monitoring employee time, billing clients, and much more.
- Data mapping software – like GeoPointe.
Data mapping software uses your data from existing customers and prospects and automatically creates map layouts that can be used for more creating efficient sales routes, marketing geotargeting, territory management and much more.
There are many day-to-day tasks that can be automated and streamlined through technology to help you increase business efficiency. Equipping your employees with the technology they need to do their jobs better is a great first step as you scale your growth. Utilizing technology in the long run will help you realize less spend and more growth.