Recent Engagement:
Day-to-Day Management Services
BUSINESS OPERATING SYSTEMS
At MyCFO, we are committed to effective systems that help businesses run, ideally with simplicity. In several recent engagements, we have helped clients to install and make operational a “Business Operating System,” which is a set of processes, tools, and structures to help manage and run operations efficiently.
Key Features
These systems bring together the core functional areas of a business, including finance/accounting, operations, human resources, marketing, sales, and customer service. When done correctly, the system provides a framework for different departments and teams to work together to achieve the company’s goals.
Processes are established for planning, organizing, executing, and evaluating different aspects of the business (e.g., budgeting, personnel/asset allocation, project management, performance monitoring, etc.). A Business Operating System can be industry-specific or tailored to a business model to fit a company’s unique needs and objectives.
In terms of products, there are many such systems on the market including the Entrepreneurial Operating System® (EOS), Six Sigma, Lean Management, and Total Quality Management.
How MyCFO Helped
In one of our recent engagements, we installed a Business Operating System for a wholesale/distribution client. From a big picture perspective, the client needed to have a better process to measure goals, identify available information and how to measure it, and identify if issues are one-time or non-recurring (then track recurring issues). Personnel needed to be able to run the system once it was in place.
Some of the benefits of the business operating system included:
- Setting the right goals, assigning responsibilities to the proper people for all the underlying tasks needing completion to reach those goals, tracking progress for each of those tasks and holding individuals accountable for the corresponding responsibilities.
- Ensure all personnel understands leadership’s vision, the company’s goals and the roadmap for getting there.
- Ensures key performance metrics are monitored and prioritized.
- Ensures managers and direct reports remain in contact and work toward the same goals.
- Helps managers objectively determine whether an employee is a good fit for the organization and its values.
- Accountability chart to clarify important functional information for each role.
- Provides an effective framework for navigating disagreements and conflicting priorities.
- Provides a framework for running meetings, selecting attendees, setting agendas and tracking tasks, goals and responsibilities.
- Define the meeting format and agenda, both for the leadership team and individual departments.
- Establish a continual, efficient method for getting things done, and holding the correct staff accountable, results.
Does Your Customer Need help?
If your customer may be interested in setting up a Business Operating System, contact us today!