When you think about strategy for your business you might think about your product offerings, adding or discontinuing products, streamlining production or service processes, adjusting prices or features, or venturing into new target markets. Those are all absolutely essential to stay competitive in today’s ever-changing market.
However, have you ever thought about some of your in-house processes like payroll, accounting, HR, or time keeping and how that effects your bottom line? Even altering your in-house administrative processes can be a positive strategy for your business. Evaluating rate of payroll errors, accounting slip-ups, or inaccurate time-keeping can take both a toll on your company’s time and money. You might be able to reduce errors (and the cost of errors) by implementing a new system or process or even outsourcing.
Increasing that internal efficiency and accuracy only frees up time and money for your outbound strategies to continue to grow and flourish in the future.