Focus on Decisions – Large and Small [Video]
Organizations looking to improve performance and results must examine the business decisions, both large and small, being made throughout the enterprise – and the data being used to make those decisions.
The individual decisions made by each member of an organization often have a significant impact beyond the decision itself. Choices such as which marketing campaign will better resonate with prospective partners or which vendor to choose for a particular service can have wide implications – whether good or bad.
Those choices may be based on a variety of factors, but the information available to the decision-maker at the time of decision is the most vital. Companies can use BPM software to help ensure each employee has the best available information when they are making important business decisions. The positive results from those gains can eventually reverberate across the organization.
Improved decision-making is not only a concern for C-level executives – it’s something needed throughout the business.
For example, at a financial services company, a better view of information could help loan officers make better decisions when it comes to approving or denying a line of credit.
One poor loan choice may not make a significant impact on the bottom line. However, reducing the overall impact of the preventable errors made by all of a firm’s loan officers is just the type of impact that can move organizations forward.