Whether you run a small business or a large corporation, the ultimate goal is to make money by providing some combination of goods and services. Performance depends on several factors including profitability, efficiency, productivity, cost management, and competitiveness. Industry expert Yigal Ziv would tell you the tools and techniques you use directly impact your business performance.
Technology, specifically computer software, is crucial to almost every business operation. The right products can boost each performance factor by improving the processes involved in each factor. Optimizing the tools and techniques in your enterprise leads to better outcomes making your company more profitable, efficient, productive, competitive, and ultimately, more successful.
Optimization According to Yigal Ziv
Strictly speaking, optimization in a business context involves raising efficiency, productivity, and performance. An organization can approach optimization through internal processes, external products or deliverables, or both. As a software expert and President of Lemoine Multinational Technologies, Ziv is intimately familiar with optimization and how it works for business.
Mr. Ziv’s career in software development started by reducing the time it took for machines to create molds and dies. He recognized that there were inefficiencies in the machining process that resulted from underused resources. Optimization involves assessing current performance, checking for ways to improve sub-processes and/or components, crafting a strategy for improvement, and implementing the plan.
A Strategy for Improvement
Different businesses will have unique components when it comes to software optimization, but a general approach includes these elements:
- Gathering Data: You can’t make positive changes without knowing where your company stands. You need to collect analytics that relate to the metrics or standards for performance. For example, if you want to improve engagement with your customer base, you might collect information regarding website traffic and social media engagement.
- Establishing Priorities: Once you’ve analyzed the data and explored the results, it’s time to set goals. What matters most to your business? Which actions or steps will take you there and how do you organize your strategy accordingly?
- Auditing Tools and Techniques: This is the time to look at your current processes and the resources, including the software and technology used. Are you using the best products and methods? Perhaps there are better applications that can save time and money while increasing output and improving quality.
- Developing a Plan: At this point, a leader such as Ziv would craft plans based on data analysis, priorities identified and audited software. It’s important to clearly state your objectives with actionable steps and useful resources, which may need to be procured. Your optimization plan should include a checklist for tracking progress.
- Implementing a Plan: Now that you’ve developed the approach, it’s time to execute. Optimization is a recursive process, so you’ll need to monitor your plan, revisit it, and make changes toward your overall goals.
Focus Areas for Improvement
When thinking about areas that could benefit from software and technology-based optimization, consider these:
- Lowering Costs: Reducing your operational and capital expenses is good for your bottom line. Cloud-based technology harnesses the power of virtual and remote tech as a more affordable alternative to expensive onsite hardware and equipment.
- Customer Service: It’s hard to be successful if you aren’t providing good service to clients. The right software can provide better ways to communicate and engage with your intended market.
- Superior Productivity: Wasted time is often the enemy of productivity. Imagine storing customer information on paper files that have to be retrieved manually. An electronic document management system is not only a faster and easier approach, but it can also accommodate remote employees and business partners.
Regardless of the industry, market, or location, your business performance benefits from optimizing the tools and techniques involved. It’s incumbent on you as a leader to take advantage of technology and software optimization for better performance. Successful entrepreneurs like Yigal Ziv recognize that saving money, reducing time, and improving processes lead to better outcomes such as profitability.
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