Planning process automation can have a huge impact on profitability
One insurer used to have an excessively long and tortuous 18-week planning process.
Yes, 18 weeks! Talk about frustrating!
As usual, most of the time was spent collecting data, performing calculations, and reporting in spreadsheets.
But now, planning process automation increases profitability
and the planning cycle completes in just seven weeks (that’s a 60% reduction), and they save 6,000 hours a year.
How cost-effective are your business processes?
Imagine if you could eliminate 60% of the cost of your planning process?
The real cost of the 80/20 planning process rule
The senior management team responsible for the business planning and strategic decision-making in your company are highly valued for the critical role they play in shaping the company’s future and overall success.
But if they are using spreadsheets to manage a disconnected planning process then usually that means they are spending 80 per cent of their time on preparing the planning process and only 20 per cent of their time is spent on analysing opportunities to improve the business.
The key to reducing this cost and unlocking their time to apply their minds lies in planning process automation technology that doesn’t just speed up a part of the planning process, but enables better strategic decisions using a single connected planning process across every part of the business: sales, marketing, finance and HR.
How much could planning process automation increase your profitability?
If you want to learn how you can automate your planning processes and save money and give your team time to think, then book a free discovery call with me.
Until next time… remember…
‘processes that frustrate, are opportunities to innovate and automate’.