From ‘Inside the Midmarket: A 2009 Perspective’ commissioned by IBM…
Midsize companies have been the engines of economic growth fueling a smarter planet for a long time. To continue that path to success, midsize businesses must embrace new and better ways of doing business.
Common business challenges – With non-stop change as the ‘new normal’, organizations today are actively searching for innovative ways to improve efficiency, create value and spur growth. Globally, improving efficiency and productivity, improving customer focus and sharpening business agility are called out as the top business challenges for midsize businesses.
83% are looking to improve efficiency
80% cite increasing employee productivity
74% are looking to improve customer service
74% are going after new customers
71% want to optimize business processes
Address these common business challenges by effectively managing your business processes.
As I have said many times before, companies are a collection of processes. Improve your processes by: eliminating non-value added tasks; automating some activities; redesigning some activities; eliminating some activities; etc. This is true for all of your processes – quote to cash; customer service; customer acquisition; etc.
These ‘midsize’ companies are looking for improved efficiency, increased employee productivity, improved customer service, new customer acquisitions, etc.
They believe that if they are successful, they will benefit from decreased costs, increased revenues and improved customer relationships [the Triple Crown of business].
And, ultimately Profits will increase.
Is your company facing similar business challenges? How are they looking to address them?
Process Management – Keeping it Real!