To streamline operations, increase efficiency and reduce costs the Chief Operations Officers should consider the digital approach. Using this approach means eliminating manual data entries by using automation. And using minimal paper based workflows.
Key Takeaways
An EDMS will help you streamline your work process through automation and ease of searchability.
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Why should the COOs use the digital approach?
To completely eliminate the use of paper either partially or completely thus minimizing operational costs.
To increase efficiency through use of automation and cloud based systems.
To enhance security, compliance and disaster recovery and this includes supporting sustainability.
COOs Checklist for improved operations.
#1 Audit your paper-heavy processes
First audit your paper-heavy processes that heavily rely on paper.
Then track the time spent and cost associated with paper use. Assess your lost documents, security breaches and compliance failures.
#2 Implement an Electronic document management system (EDMS).
For Enterprises using an electronic document management system would be viable because of their complexities,
But SMEs can use simple cloud storage with an Optical Character Recognition (OCR) for document searchability. Access controls can be set up to enhance security and this can be role based.
Automated back-ups and disaster recovery to enhance document security.
#3 Automate core business workflow.
Having automated business workflows to increase efficiency and productivity. These include having electronic invoicing, electronic signatures, automated contract approvals and supplier documentation.
Finance and accounting electronic invoicing and approvals. Digital onboarding for HR, contract approvals, audit-ready digital records.
#4 Having digitized Internal and external communication
Use of electronic signature solutions, examples: DocuSign, Adobe Sign for approvals and contracts.
Using collaboration tools such as Slack. Digital reporting and dashboards. This reduces the need for printed memos and paper based reports.
#5 Training your team for success.
Your team have to be in alignment with you. They are trained on digital tools, and paperless processes. There is also the need for mindset change which requires mentoring and coaching for alignment.
Success is then monitored with the set Key performance Indicators. This tracks efficiency improvements. And then continuously optimize and improve your digital processes.
#6 Ensure Automated Back ups
Ensure automated backups and disaster recovery plans are in place. This is to ensure your data is secure and accessible incase of data loss.
Conclusion
To streamline your operations, increase efficiency and reduce costs, going digital would be a good approach.