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PROCESS IMPROVEMENT AND AUTOMATION
Spend more time on value activities, get more done. The aim of process improvement and automation is to identify, redesign, and implement better ways of doing things. Benefits can include:
- Elimination of unnecessary/low value adding activities
- Managers and Analysts can spend more time delivering growth
- Time/resource savings
- Clear, effective processes help cross functional / cross market alignment
Insight is often generated in silos, in discrete projects, for specific purposes. Synthesising difference sources of insight together allow greater depth and conviction, particularly during the strategy setting process. Providing resources and capabilities for ongoing discovery will allow a more dynamic approach to business management, as well as allowing performance to be more clearly understood.
The issue is often a question of resource. However insight generation from internal data and market data can be sped up or automated using readily available tools and techniques.
The journey to executive decision making can be improved by establishing the right principles, processes, and governance. Having a systematic, established route to decision making that incorporates the needs of the decision makers will not only speed up decision making, but also provide confidence and alignment across layers of an organisation. This in turn will lead to better performance over time and an ability to effect change quicker and easier.
Annual planning process improvement
Annual planning processes are vital, but are all too often bloated and lead to frustration. Even worse, they can often divert valuable resource from driving the business forward. An effective annual planning process takes into account the needs of each business unit whilst also considering the market forces that may affect future performance. They should drive accountability, speak to the businesses long-term strategy, and (let's not forget!) not take all year to lock down.
High performing analysts are worth their weight in gold. However training on tools, techniques, story telling, and decision support are sometimes scarce. Investing in your Analysts will not only yield better results further up the Management chain, it will also help employee retention and satisfaction.
Some organisations are fortunate enough to have the resource to invest in cutting edge AI technologies to automate analysis and decision making. For those who don't have the budget however, there are also wallet friendly options available. Surprisingly few organisations realise just how much can be automated using the standard Microsoft Office suite, which can lead to more timely delivery of outputs such as performance metrics, but also free up vital Analyst resource to business partner and deliver on key initiatives.
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