Event BPO Implementation
Last month, I kicked off a series of posts about business process optimization tips for the event industry. As my colleagues and I have explained over the last several weeks, there are a variety of best practices to be shared that can go a long way towards increasing efficiency, profits and even morale in an event-focused organization. Of all of them, though, there’s one that stands out from the pack: integrated software.
The Case for Technology
Internal communication, the prevention of knowledge loss, reporting and data, accounting and financials, administrative tasks—the list goes on and on. All of it can be vastly improved via integrated software solutions that combine the most commonly used functionality of several different programs into a single application. Several departments and one database later, you’ve got a system that is primed for success.
But, in addition to being privy to best practices for business optimization from hundreds of clients around the globe, we also hear our fair share of excuses for not adopting them. Here’s a few of the most common arguments we hear and why they don’t hold up.
Technology is expensive, labor is cheap
Yes, it is true that technology can be expensive, but when you consider the potential gains, it’s easy to see that nearly any technology solution can pay for itself if applied appropriately.
However, given the trend toward new web-based, SaaS models for integrated software, cost has become even less of an issue. These kind of ala carte solutions allow you to pick and choose among options for functionality, selecting and paying only for what you need – allowing you to scale up or down easily in the future.
As for “cheap” labor? Let’s not forget that it isn’t always as cheap as it seems at first glance. Initially, you have the standard problems with a low to moderate wage labor force like high turnover and poor motivation. Regardless of their compensation, every new employee costs time and money to train. But maybe more importantly, if your processes are loose and there’s little incentive for your staff to go above and beyond the call of duty, you’re likely to lose money in the long run due to factors like low customer satisfaction and retention that can be hard to quantify but have an indisputable impact on your bottom line.
Turnover is too high to justify the time and expense involved with technology training
High turnover is expensive, period. But would you rather train new employees to use software or start from scratch every time somebody leaves? There’s time and money involved either way but at least with software, the integrity of the business doesn’t take a hit every time there’s a personnel shake up.
Aside from that, technology can also be a powerful deterrent to high turnover in the first place, in that it increases employee satisfaction by easing day-to-day tasks. A more secure, stable and organized business leads to a more secure, stable and organized workforce.
I don’t need technology to be competitive in my market
While most of your competitors at the moment may be regional, the events industry is an increasingly global business. To be competitive on that level, you need to be able to provide truly world-class service and have the same robust capability to manage things like event details and billing that international clients have come to expect.
So what are you waiting for?
There’s simply no excuse not to start implementing best practices for business processes that can make a huge difference in your organization. Need a little refresher on exactly what those best practices are and how they can help? Download our latest Ebook on how to work smarter, not harder and be prepared to see big changes in 2016.