Cost reduction in the early days was the promise of technology cutting costs through replacing people. This has not been the case in many supply chain industries, nor have we seen the same in the service industries. There is a broader realisation that it takes the combination of people, process, and technology to improve a business. However, that does not mean there are not ways to look at all three of these aspects and reduce costs.
The following is a methodical and value-added process I use to help your business look at cost reduction through a technology perspective,
- Review information collected and stored. Is this data giving you the information you need to make decisions? Is it measuring your productivity in all areas?
- Review your sustainability as a business – are you using green and efficient technology? Are you taking advantage of cloud platforms to reduce costs and carbon footprint?
- Process automation – have you reviewed processes that can be automated, freeing up your teams time and capability.
- Review cloud services requirements – migration to cost effective and appropriate cloud platforms, reducing the need for on-premise physical server rooms or data centres, reducing space requirements and power, insurance and security overheads
- Review client involvement systems and processes – if this can be made a slick as possible, improving the quality and quantity of client interactions this will improve the information flow within the business as well. Automating this interaction through the use of systems such as CRM, also brings benefits
- Review your team members mobility – recent events have meant an increase in the need for remote working. Technology has enabled a rapid ramp up but this may mean business processes have not been rationalised to work in this way. If business continuity plans were invoked, these may not be sustainable over the medium to long term. Reviewing how this use of technology and business processes matches with people, will bring benefits in efficiency.
If this is of interest, please contact me
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