KRD Ltd. - Accountants, Consultants & Advisors

Year End is a Great Time to Take a Fresh Look at Your Business

As 2021 begins to wane and 2022 is fast approaching, it’s time to take stock of your progress.

  • Where do you stand relative to your 2021 goals?
  • What are your plans to support your teams in making any changes needed to achieve these goals?
  • How can you create a strong close and position yourself for a better 2022?

There is still time to take another look at people and processes to identify opportunities for improvement.  It might be time to look for new software, revisit your reporting options, or re-evaluate your compensation strategies.  Or you might need to look at your business from a different perspective. 

We have found that many internal challenges can be traced to inadequate or poorly defined processes. When processes are broken, you find department leaders spending more time chasing data than doing their jobs, line workers aren’t clear on their objectives, and owners are making decisions in the dark. Frustration is high.

So before you begin a software search, redesign your reports or evaluate new compensation strategies, consider a process mapping exercise. Gather everyone involved in a single process in one room (live or virtual) and document the flow of information from beginning to end. Use digital tools or post-it notes and have everyone contribute to the discussion. Ask them what happens first and what happens next, creating individual boxes or notes for each step. Have the person who is impacted most by the preceding task to go next. At the end of the session, you will have talked through challenges, identified wasted effort, and uncovered opportunities for automation, while you document your processes.  

The team at KRD can function as your meeting facilitator to guide the discussion and keep the meeting moving forward. Ask us how.

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    Office: 847-240-1040
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