On average more than 20% of employees' time is typically wasted on low or no value-added activities, due to fuzziness over strategic priorities. Effective operations is all about 'do the right things' and 'do the things right'. It might seem contradictory, but you can create flexibility by introducing rigidity. Time to explain:

To improve your operations the first step is to prioritise your business processes: Focus on the key processes, don't waste time and energy on processes that do not add value. Linking strategic measures to unit, team, and individual goals lets people purge unessential, low-value activities. Second step is to improve the efficiency of your business processes by e.g. eliminating useless steps. Leave in the essentials, cut out all the frills.

The third step is to bring the 80-20 rule into play: 80% of your business transactions are standard, and you should be able to handle them in only 20% of your time by using rigid, standard procedures & solutions. This allows you to focus the remaining 80% of your time on the 20% that really need tailor-made solutions and flexibility.

Correct execution of above mentioned steps can reduce operating costs with 20%.

V I S MOCS can support you in identifying & prioritising your core business processes. Hands on experience has been built up in balancing backoffice efficiency versus frontoffice flexibility and implementation of financial shared services concepts.