How SOPs Save Companies Money
1) Overall, the use of SOPs can help companies save money by improving efficiency, reducing training costs, improving quality, reducing the risk of errors, and enhancing compliance.
2) According to The State of Business Process Management report only 1.5% of companies have standardized and documented every procedure within the company. And while 25% of companies have reported implementing some procedures, they have failed to keep up with evolving and new procedures.
3) SOPs are often used in industries that require strict compliance with regulations and standards, such as healthcare and manufacturing, as a way to document and standardize processes to ensure that they are being followed consistently.
4) Tools like The BPR enable companies to quickly create a library of work instructions that can be shared company wide. Doing so allows employees to access these instructions easily, reducing errors and improving quality.
5) If your company is using paper work instructions or a home-grown system to store and retreive work instructions they would greatly benefit from adopting The BPR. It allows employees to create and share SOPs across the organization to drive efficiency and save money.