Do your business operations have synergy?
Synergy is defined as the combination of two separate activities or entities to create a new paradigm that is more beneficial and more productive than the sum of the original parts. One example of synergy is in the business acquisitions field; in some cases, companies can profit significantly by merging with or acquiring a preferred vendor.
The resulting company can often streamline operations and ensure a reliable and continuous supply chain, enhancing productivity and improving profitability to a degree greater than the combined profit margins of the original firms.
Other examples of synergy created through the fusion of two or more disparate elements can be found in the technology field. Mobile telephones combine email, texting, music storage and GPS location, in addition to their primary voice communication functions. The integration of these added features in a single, small, and portable device makes cell phones even more useful.
Meanwhile, cable television providers also offer Internet access and home telephone services as part of a package that creates added convenience for end users and increases profitability for the cable companies.
Is Continual Improvement a Priority?
The International Organization for Standardization, more commonly referred to as ISO, establishes voluntary standards to ensure conformity in equipment and in business processes, allowing best practices in a variety of areas to be instituted on a corporate level.
ISO 9001 standards deal specifically with quality management in the industrial and commercial environment. One essential tenet of ISO 9001 is the concept of continual improvement. Businesses are challenged to examine all elements of their ongoing operations and workflows to ensure activities are in a constant state of improvement and optimization.
This can allow increased productivity and ensure that businesses are maximizing their profitability in the larger consumer and corporate marketplace.
Need to Improve Business Operations? Start with Project Management
One strategy for creating synergy and increasing efficiency in the workplace is to merge process and project management into one cohesive whole. Advanced technologies in the workplace can allow companies to integrate process management and project management to provide greater insights and improved control over ongoing activities:
- Software platforms that provide project portfolio management support can integrate risk management, communications, performance, oversight and strategic planning into one integrated project and process management system.
- Predictive analysis functions can generate accurate estimates of the efficiency of current workflow arrangements and the likelihood of success and on-time delivery of projects using data derived from internal corporate sources.
- Business processes management tools can supplement contract management functions already in place within the business environment and can provide real support for decisions made in the supply chain and vendor selection processes.
- Automated workflow processes can be monitored independently and as part of the project management activity.
- Modeling proposed and current workflows can provide added insights that can lead to increased productivity in the workplace.
These technologies and software packages can be valuable assets in the management environment. One other factor that should be considered when implementing fusion technologies in the corporate workplace, however, is the element of time.
Combine Business Processes and Save Time
The ultimate goal when combining process and project management into one business activity is to save time and enhance productivity. Automation alone cannot be expected to save time or to generate synergy in the workplace.
By considering the potential time savings when making changes to workflows or establishing parameters for projects, company administrators can often increase efficiency and optimize the use of their human resources to boost productivity and profits for stakeholders in the business enterprise.
Professional data analytic and software implementation firms can provide much-needed support for these activities by creating customized solutions for business processes management and project oversight tasks. By integrating all these functions into one hardworking software platform, companies can achieve improved control and efficiency in their ongoing business operations.
Leo Sugg is the Information Insights Practice Lead for Paragon Solutions. Paragon Solutions is an advisory consulting and systems integration firm specializing in various industries. Learn more about Paragon’s business process management and optimization solutions at www.consultparagon.com.
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