Sebanti Roy Chowdhury

How can small and medium businesses streamline their business? When you have limited resources, the only way to scale is to optimize your business processes. Here’s a step-by-step guide to help you improve your time, labour, and work process efficiency. 1. List out workflows that define your business, mentioning every step, however insignificant. 2. Create visual guides like flowcharts to break down complex processes into discrete steps. 3. Identify unnecessary activities and areas that need improvement. 4. Try to reduce overhead costs: a. Shop around for lowest wholesale rates in supplies b. Consider work-from-home options for some employees to be able to operate from smaller office spaces, saving on rents c. Lease equipment instead of buying d. Hire staff having diverse skills or provide training to manage with a small workforce e. Cut back wages by outsourcing tasks that require specialists 5. Automate processes with technology, such as: 1. Enterprise Resource Planning software to handle sales, accounting, and inventory 2. Customer Relationship Management (CRM) software to simplify customer service, managing contracts, and email marketing with personalized messages 3. Inventory management tools to update stock levels automatically after each sale 4. Project management software to keep the workflow organized b. Set key performance indicators as per your efficiency goals and offer incentives when goals are met. With correct planning, you can successfully streamline your business for maximum productivity. Electronic invoicing (e-Invoicing) e-Invoicing involves registering B2B invoices with the Invoice Registration Portal to get a unique identification number and a digitally signed QR code with the invoice data.