As you try to get your business back on track after COVID-19 shutdowns, you find ways to save money and decrease time consumption. Add these tips to your list of strategies for regaining control of your finances.
Order Parts in Advance
It’s hard to keep up with your demand for parts when your budget is completely unbalanced by unexpected economic troubles. As much as possible, though, order your parts such as Donaldson compressed air filters in advance. This reduces the time spent waiting for parts to arrive. Additionally, vendors are more likely to give you better deals if you order lots of parts at once.
Use Time-Tracking Software
If you don’t already have your employees clock in and out online, it’s time to start. Many different companies offer their time-tracking services for free or at a low cost, and their products are usually available as apps. While you can’t guarantee that people won’t lie about their hours, it’s much harder to falsify an online clock-in than a physical sign-in. To add an extra layer of security, work with the company whose software you are using to require that employees’ phones be connected to your office’s Wi-Fi when they sign in.
If you’re used to dividing jobs between employees, see how many you can consolidate to save time and money. For example, in a factory, employees can monitor multiple machines at once. In an office, your receptionist can also perform some accounting functions if he or she has the proper training.
During your quest to get your business back on schedule for the year, don’t be afraid to get creative with your plans. Try out a variety of strategies to cut costs and improve efficiency, and ask your employees for their feedback. Remember, you won’t know if something works until you give it a shot.