As a business owner, you’re probably thinking about the most effective way to grow your business and build a profitable company. But it can be hard to focus on growth when you spend all your time working on the smaller details. And if your business is not functioning as effectively and economically as it could be, it can be even harder.
These tips can help you simplify the way you operate, leaving you the time to grow your business.
- Put all your data in one place
When you use one software application that integrates all your systems, you get instant company-wide insights into all areas of your business. So you don’t have to search through multiple entries, across a number of spreadsheets and databases, to find what you’re looking for. Instead, you have all the facts at your disposal instantly, so you can make smarter decisions. And you can make them quicker.
- Save time and money through automation
Manual entry of data across a number of systems can be very time consuming. And it takes staff away from performing other critical functions, or working towards helping you achieve greater ambitions. If you automate the key functions of your business, everyone will have more time to focus on development projects that help you grow your business.
- Reduce simple mistakes and human error
Mistakes in your data can be costly. Experian’s Global Research Report 2014 found that 59% of data errors are caused by human error. And it can cost between £1 and £100 to rectify each mistake, depending on the time at which the error is noticed. Cut down on the potential for mistakes by streamlining your operations, reducing the number of physical entries that need to be made.
Studies also show that up to a third of data breaches are the result of human error. So not only will your systems run better when manual input is reduced, you’ll also benefit from improved security.
- Make sure you’re working with clean data
Clean up your data by removing any outdated information, incorrect figures or poorly input customer details. Research shows this ‘bad data’ affects the bottom line of 88% of companies worldwide. And the average company could be losing 12% of its revenue due to wasted marketing spend, resources, and staff time – all due to inaccurate data.
By cleansing your data and integrating it into a single system, you can ensure against duplicate or inaccurate entries, spot errors more easily and make sure you have one single version of the truth. So you can be confident in your data, cut down on wasted resources, and focus on growth.
To effectively implement these tips and grow your business, it’s essential for smaller or mid-sized businesses to ensure that any new software solution they invest in is both cost-effective and efficient.
By adopting a single IT application to streamline your business operations, you’ll experience increased efficiency and productivity and then opportunity to grow your business faster. With all your data centralized in one place, you can rely on its accuracy and real-time updates, empowering you to make more confident decisions with speed. Moreover, this streamlined approach will save valuable time and resources that would otherwise be spent on data management, allowing you to redirect your focus towards areas that truly foster business growth. Embracing a smoother-running business infrastructure will grant you the opportunity to grow your business by concentrate on strategic initiatives and propel your business towards success.
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