For a CEO, it does not matter how many more project proposals have been reviewed per hour as that will not change the company’s overall efficiency. But if the functions can be outsourced, then the end-result might actually make a dent.
FREMONT, CA: Efficiency for CEOs and everyday employees is a different discussion altogether. For executives, it is about making the organization more agile. The selection of an enterprise’s upcoming initiatives is a job best left to the CEO. But there are numerous other ways in which executives can create efficiencies:
1. Group Purchasing Organizations:
There are providers to vet, costs to discuss, contracts to evaluate, and relationships to uphold regarding the purchase of supplies. In addition, logistics, procurement strategy, and management of the team take hundreds of man-hours across the year. By combining with a group purchasing organization (GPO), an enterprise can get bulk rates of efficient working hours without having to increase the workforce volume. Plus, GPOs’ contracts are pre-written, which can save months’ worth of time.
2. Virtual Assistants:
Virtual assistants (VA) are not only tens of times cheaper than traditional administrative organizers but also typically available round-the-clock and are used to different working styles. A VA subscription for each of the organization’s functional units will lead to the generation of leads. Even the technical teams can use a VA for prototype testing or data entry.
3. Payroll Processors:
Another low-cost outsourcing initiative that saves serious time is payroll processing. Management of payroll internally means computing the number of hours worked, total wages, and payroll taxes at every pay period. By employing freelancers, an organization not only gets the service for collecting and remitting payroll taxes but also obtain benefits like health insurance and flexible spending accounts.
4. Marketing Automation Tools:
Marketing is an extensive function that gets broader daily. In addition to print, radio channels, and broadcast, marketers now have to look after social media, digital content, and SEO marketing. Marketing automation requires a considerable range of software. Some tools serve as do-it-all platforms that function in customer segmentation, lead generation, and social media management.
5. Business Travel Planners:
One option to centralize the process of travel planning is to keep it internal. A single team member can schedule everyone’s trips using a travel planning tool, which eliminates redundancies.