A good business owner understands that an efficient office is the key to success and profitability. Inefficiency in a business can cost the firm 20-30% in revenue. In addition to the tangible financial loss of time, lack of efficient processes and practices can result in loss of business from dissatisfied clients, turnover of good employees, and loss of service value. The key to avoiding these pitfalls is ensuring that your practice is managed with care and competence.
Establish and Enforce Policies and Procedures
Clear and effective policies and procedures are crucial to ensure workplace efficiency. When specific procedures are outlined with clear steps and expectations, employees are more likely to complete the tasks in full, and without costly errors or redundant efforts. It allows employees and managers to feel confident that tasks are being completed. Employees are aware of their position in the flow of work and can focus on their jobs to the best of their ability. What’s more, it will prevent tasks from being overlooked with the expectation that “someone else” will do the job. Employees who are focused and know what is expected are happier and more efficient.
Use the Right Systems
Your efforts and those of your employees can be severely bogged down if you do not have the proper software or equipment. Each office has different needs, based on the area of specialty, location, and clientele, so it is important to assess the needs of your business and determine if the software you are using meets the needs of your business. Do your employees use the software, or are they spending time doing workarounds? Is work being done outside dedicated software because the program does not fit the needs of the business? Technology is a useful tool, but it can be a liability if it is not well-suited to your business needs. Take the time to assess the systems you are using, to ensure that they are enhancing and not detracting from your business.
For help with finding the best procedures and systems for your accounting office, contact Get Off The Wheel! We will help you streamline your business for optimum efficiency.
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