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These efficiency leaks could be costing your agency $$$$

November 07, 2016

Did you know that U.S. businesses waste $1.8 trillion dollars a year because of efficiency leaks?

It's easy to excuse inefficiency. There's never a "right time" to deal with inefficiency and the effects on your business process – it could be an important deal that needs attention, upcoming deadlines, anything that is "more important". 

But if you don't take time to address and solve the inefficiencies in your agency, complacency and stagnation sets in.  When this happens, loss of competitiveness and lower profits will soon follow.

In a series of helpful articles, we'll help you put a stop inefficiency in your agency.

Many agencies don't even realize that they're operating inefficiently, as they rely on older technologies like clunky software that's labor-intensive and stressful to use. 

Putting plugs in your 'efficiency leaks' can help you stop leaking money and wasting resources across your entire business. It's not just old technology that's an inefficient use of time, but communication and processes. 

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Efficiency leaks are expensive

Did you know that efficiency leaks cost many businesses as much as 20 to 30 percent of their revenue each year?

Mistakes can be costly. Agents are more likely to make mistakes if their office technology is old and complicated to use. Calculating fees, taxes, while trying to balance deadlines make that process all the more complicated.

For example, accidentally adding a '0' and incorrectly billing the client can be a really upsetting situation to deal with.

Luckily, there are automated, online platforms like Xero and QuickBooks that Syngency integrates with that can help you manage all your invoicing smoothly. 

Efficiency leaks waste time

Did you know workers waste an average of 520 hours a year on mundane tasks that could easily be automated?

You can squeeze the last cent out of a dollar but you can't squeeze extra seconds from your day. Your work can easily pile up on you and before you know it, you're working overtime just to get it done.

Using technology that's modern and always up-to-date can help you complete your tasks more quickly and efficiently. 

That is what makes Syngency so smooth and effective to use – it helps you bring focus to what matters most in your job, like developing your talent and building client relationships. 

Time losses are one of the biggest factors in efficiency leaks. How much more time are you willing to waste?



Fixing efficiency leaks can upgrade the performance of your agency and survive in a highly competitive industry.

Join us for the second part as we tell you how efficiency leaks damage your output, culture, and growth. 

[sources:
How inefficiency negatively impacts your business
Looking for inefficiencies in your business ]


 

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