In a world where efficiency is king and transformation is a necessity, the importance of maintaining accurate business process documentation is often underestimated. There are many reasons for firms to develop and maintain business process maps and standard operating procedures, but the need becomes much more prevalent during times of growth or transformation.
Here are a few key reasons why this undertaking can be so beneficial:
- Management oversight
- M&A integration effectiveness
- IT awareness
The ability for management to pick up a business process map or standard operating procedures manual and quickly understand the components of a business unit will improve management’s ability to govern efficiently. Analyzing how the business operates at a process level can be an eye-opening experience for many decision makers.
Whether your firm has recently purchased another company or is looking to be sold itself, having the business processes laid out in an accurate manner can make the integration process exponentially more pain-free. Having an arsenal of operational information at your fingertips while you are trying to harmonize your new company with your current systems and processes will allow for a streamlined integration resulting in bottom-line savings.
Your IT department will be very thankful as they work to assess your current IT environment and they are able to use business process maps and standard operating procedures as a roadmap. The business process maps should highlight when and where any systems are being utilized. Seeing the flow of data in a well-documented format can greatly enhance clarity and can shine a spotlight on inefficiencies.
The task of mapping out business processes and creating formal documentation around them can seem daunting, but the rewards are quick to come and it will have a lasting impact both operationally and financially. Management is often surprised by the amount of knowledge that can be obtained by simply documenting the way things are done. To learn more about how RSM can assist you with business process documentation, contact RSM’s management consulting professionals at 800.274.3978 or email us.