By: Brianne van Reenen
There is a delicate balance to streamlining business processes without exhausting precious resources to do so. Companies often focus on perfecting one area inadvertently causing them to become blind to inefficiencies growing in another. As a result, business processes can become siloed or compromises are made that leave the need for another cycle of exploration - causing the consumption of even more resources.
With inefficient business processes resulting in an average annual revenue loss of 20 to 30 percent, there is clearly no easy answer. Rapidly changing technologies and increasing regulations are only two factors that keep the proverbial arrow from hitting its mark and sticking. However, there are some best practices that can help direct you on where to start (or ensure you that you are on the right path).