COST REDUCTION
DISCOVER SUSTAINABLE COST REDUCTION
Efficiently achieve your cost reduction goals with PRIME BPM. Gain crucial insights into your business operating cost and spending, and identify effective cost reduction techniques to minimise unnecessary business expenditure and increase the bottom line.
OPTIMISE YOUR BUSINESS SPENDING
Regardless of the size and scale of the business, slashing costs and expenses are the top priority for every business leader. However, many struggle with where and how to start. Randomly trimming expenditures across the board or squeezing the budget does result in some cost savings but it is not sustainable. With PRIME BPM, you can successfully reduce operating costs by gaining a complete overview of your expenses and devising a long-term cost reduction strategy.
Achieve Cost Reduction with PRIME BPM
Know your Expenses with Process Analysis
Easily create end-to-end current-state business process maps for each process in the organisation and analyse the process for cost, time and value to identify cost reduction opportunities. Use the inbuilt analytical engine to understand crucial data, such as total cost of doing the process, cost of any delays in the process, resource cost and utilisation. Armed with these insights, you can take informed actions, such as eliminating the repetitive tasks, rerouting the tasks to a lower-cost resource, removing delays, etc., to achieve effective cost savings.
Understand Resource Requirement
Using the analyser module, recognise non-value-adding activities and how much money and time is wasted performing these activities. Use this knowledge to focus only on the business-value adding and customer-value adding activities. By eliminating waste in the processes, clearly understand the right resource requirement and optimise process cost.
Standardise Processes for Cost-effectiveness
Use the PRIME BPM tool for cost reduction by standardising business processes. Compare processes from different business areas side by side to analyse each process from cost perspective. Once you identify which process is more efficient, take parts of one process and apply them to the other process to reach the most cost-effective way of doing things.
Determine What to Automate
Ensure cost savings by channelling your automation strategy in the right direction. Identify the areas in the process that are most applicable for automation, such as high-frequency, repetitive tasks that are prone to data entry errors and involve multiple people. Applying automation to these tasks will help ensure long-term cost reduction on account of reduced team member requirements and reduction in time spent on the tasks. Carry out what-if analysis and create as many future state scenarios as required to maximise cost saving with automation.
Streamline Digital Transformation
With PRIME BPM, analyse the current-state processes to identify information-intensive, manual tasks that result in delays/ lags in the process. Use this data to target your digitalisation strategy. This will result in significant time and cost savings, allowing you to free up resources and focus on your core business objectives. You can also simulate the ‘to-be’ digitalised process to analyse the impact and predict cost saving before the actual implementation.
PRIME BPM EDITIONS
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