The Hidden Factory
The activities in your business that have a detrimental impact on quality, increase the risk of error and reduce efficiency are not always apparent. Visualising and analysing business processes will reveal your “hidden factory”.
Few businesses take time to look at their processes let alone build best practice. As a consequence, a culture of doing activities the way they have always been done is established. As personnel come and go it is very common to see common tasks being done in many different ways as practices evolve over time.
In most businesses the result is a series of activities which take place under the radar so to speak and it is these which can damage efficiency and therefore reduce margin. As important the lack of consistency means a much greater risk of error and in regulated businesses this is a significant problem. Firm principals and even operations managers are often unaware of the workarounds, the shortcuts, the extra spreadsheets that have found there way into how a firm delivers its value proposition.
To truly understand what you do and how you do it you need to lift the bonnet. The exercise is well worth the time as the results can truly help to build a sustainable advice business that delivers a first class customer experience.
Visualising and analysing your business processes will reveal the “hidden factory” in your practice. Once the issues are uncovered and the impact is quantified in time and cost terms, you are perfectly placed to plan and execute improvements. To avoid this situation reoccurring you are well advised to go one step further and publish best practice processes.
This sort of work has commonly been undertaken initially using Post It Notes and then process flows which might be built in such software as Visio or even Word. Whilst these tools can be helpful they are very limited. The outputs are both one dimensional, not very engaging and genuine analysis is difficult and time consuming to achieve. Jigsaw Tree uses leading process management software tools from Engage to support adviser firms in this process, delivering highly visual process models with multiple data points. Detailed analysis is fast and informative measuring not just time and cost but also customer value. Furthermore adoption of best practice is much easier when you can create a digital process handbook, which can be accessed via multiple devices. See the intro video able for a quick look at the software.
We provide a choice to firms to either work with us on consultancy basis using these tools or for us to support them implementing it into their business. For more information please get in touch and let us help you reveal the “hidden factory” in your business.