One of the most unforgiving aspects of the financial industry is the need for absolute accuracy in print and mail. In today’s hyperconnected world, these mistakes are costlier than ever. Simple errors can cause irreparable damage to member or customer trust, and can dramatically harm a company’s reputation.
With the hectic pace of working at a credit union or bank, human error can seem inevitable. The good news is that by employing a defined process, organizations can significantly reduce the risk of error while maintaining operational efficiency and a competitive bottom line.
Simply stated, a defined process is a documented list of steps for initiating and completing any business process. In this case, we’re referring to print, mail, and e-document processes. So how does a defined process leave less room for error?
- Every little step that needs to be done is written down for all to see. No one is perfect, and people will always be prone to making tiny mistakes — especially when they are busy. You might not need to write everything down to handle a standard job during a slow week, but what about a big job during a busy week? When everyone is skipping lunch breaks and working overtime, defining the process from start-to-finish means every step goes smoothly.
- You have an idea of how much time each task will take and can plan accordingly. The key to a successful defined process is basing the process on extensive prior experience. By the time a process is defined, an organizer will have accurate, reasonable time estimates for any given task. With these fine-tuned estimates, businesses can ensure that they’re planning appropriately for timely, comprehensive project completion. By defining the process, you know exactly how many people to assign to each task. It also means you don’t run the risk of someone underestimating a task only to fall behind. Sure, employees can work extra hours in the event of an emergency, but then your chances of making an error spike.
- Everyone knows exactly what they need to do. Similar to our first point, a defined process means that every little task is allocated to someone from the get-go. Have you ever been burning the midnight oil to finish a project on-time only to find out that someone else is working on it or has already completed it? A defined process means that no time is wasted when two people do the same task. Additionally, it avoids panic moments because nothing is overlooked.
If you’d like to learn more about how our process can help benefit your business, then give us a call today or stay-tuned for more posts on the subject at IDS.com