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When you think about chaos, you typically think worst-case scenario—a company’s death spiral. But chaos is more common than you might realize. People, process, and technology are disconnected. Chaos occurs when there is no time to follow the rules and when no rules are established.
Chaos within an organization is not a death sentence. In fact, it is often a sign that a company is growing quickly or that the company is evolving. But that doesn’t mean it’s a good thing. Organizational chaos results in inefficiencies and less than optimal performance. Moreover, organizational chaos often results in significant lost productivity, frustration, and poor morale.
A strong foundation of systems, such as ERP applications, that companies believe are managing, tracking, and controlling transactions across the organization in an efficient manner. This is the structured work.
Unstructured work is a lack of structure. Multiple, disparate processes exist where information is shuffled from department to department. Employees use email as a proxy workflow tool. There is a heavy reliance on Excel to augment or perform data gathering, reporting, and data analytics. Key files are stored on a local desktop rather than in a collaborative centralized repository. Information is collected on paper or hidden in one-off word docs instead of being captured in a central location.
This lack of structure often leads to errors and inaccurate financial information that can impact the achievement of strategic objectives, financial performance and entity value.
These are the symptoms of organizational chaos. The key to minimizing it is to connect people, data, systems and information—all the time and everywhere.
ME CFO can help you to re-organize your organization. We can help you improve communication, better data in- and output, workflow, automation and measurement of successes. We can help you find the way to be more profitable, stay competitive, and drive market share. By creating faster, more consistent processes, companies can lower costs, reduce mistakes, increase value, and ultimately eliminate chaos—once and for all.
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