Law Platt was the CEO of HP that made this reflection and after implementing a knowledge management system, he achieved to reduce their spendings by 10%, mainly through saving lost time of people seeking information and better use of spare parts. Savings like this can easily lead to double the profits in the last line of a company. If we make everyone’s individual knowledge available for everyone else in the company, the result can be very profitable. However, this is something that very few companies do.
Making better decisions is essential to being well-informed, but the vast majority of people have no idea what’s going on in a team they are not a part of; a recent study shows that 95% of people do not know the strategy nor the objectives of their company. Under these conditions, it is difficult to make good decisions, whether it be alignment with other departments or working as one single big team. It just cannot be done. This is why companies are becoming more bureaucratic and concentrating decision-making among only a few. When in actuality, the trend of great companies is the opposite: more autonomous teams are able to make better decisions based on good information, due to being closer to the problems, but at the same time having a global view.
There is no need to re-invent the wheel, just the knowing how to use it. Combining well the online world with the offline, it is possible to make everything easier at work. Adopting user-friendly applications (although some still choose the most complicated ones) and in hand, resolving a variety of issues such as: poor managing agreements with clients, difficult access to important documents, all ranging from coordinating processes between departments and internal communication. We all have 40 apps in our cell phones to “make our lives easier,” but when it comes to working habits we continue to use e-mail for everything. Combining the offline world with the online world, we need to leverage to make the most out of our businesses, by using these digital tools and reflect it with concrete actions. If you pay for a gym membership but you don’t go, then don’t complain when you don’t lose weight.
Increasing a business’s margin by boosting its productivity through people, saves time, boosts alignment, and makes the decision-making process a whole lot easier through simple tools that are already at hand. Technology has already been adopted by nearly everyone to make their lives easier; dare to use it in business and make work simpler at your company.