Unlocking Success: The Importance of Effective Business Systems

March 20, 2024

An effective business management system can significantly boost your business success, and increase business value. We talk about how to start capturing your business knowledge, and implementing systems to manage, protect, and share the information.

Implementing robust business systems is a smart strategic move to significantly enhance your business's attractiveness to investors and potential buyers, because the systems ensure your business functions seamlessly, even in your absence.

A business management system can ensure consistency and reliability in delivering products or services to your customers, and increase efficiency by standardising on the best way instead of each employee reinventing the wheel each time they perform a task.

Collecting Knowledge

To build a business system, you’ll need to capture knowledge and information that describes how you do things. This generally means writing how-to’s and procedures to lay out the steps to follow or the tasks involved in each process, and may also include details on who is responsible and what resources are required.

Together, these procedures form a business knowledgebase and represent a valuable piece of intellectual property in the organization.

You probably already have more than you think, because it’s not just SOPs. Many types of documents should be captured into your business knowledgebase:

  • Standard operating procedures (SOPs), work instructions
  • HR documents: job descriptions, employment policies
  • Training and induction resources: presentations, videos, questionnaires
  • Marketing materials - brochures, presentations, capability statements, case studies
  • Forms and templates - both internally and externally used
  • Product specifications - for finished products, raw materials, and/or components
  • Design & engineering documents - product designs, engineering drawings, CAD files
  • Supplier information: contact details, specifications, capabilities, lead times
  • Health and safety: hazard register, safe operating procedures, SWMS, JSA, SDS
  • Corporate documents: vision statements, strategic plans, patents, trademarks

Accessing and Sharing Knowledge

The initial step is capturing the knowledge, but it won't be a useful resource if you can’t find the information again to use it. An effective business system also needs to share information with the people who need it, where and when they need it.

Although platforms like file servers, Google Docs, Dropbox, and SharePoint are common entry points, organisations inevitably move beyond these solutions as they expand.

Businesses outgrow folder and file-based storage because they need better control over their information, which includes organising information in a standard way for easy retrieval, limiting who can make changes, having version control mechanisms, and streamlined approval processes.

It's easy to underestimate how much money is wasted in trying to access information. Even if just a few people spend a few minutes a day looking for documents, the time cost can add up quickly. To see how much it costs your organisation, try our calculator.

Protecting and Securing Knowledge

One of the biggest problems with storing business knowledge in files and folders is how much it relies on everyone to do the right thing - such as following file-naming conventions, saving files in the right folder, and not accidentally changing or deleting important information.

Document control software protects and securely stores your valuable business information, while providing fast and controlled access to ensure everyone can access current information, and preventing crucial data from being lost.

If you operate from multiple locations, have staff working remotely or in the field, or don't have an internal IT function, the best option will be cloud-based document management software, like Quality Systems Toolbox.

It provides:

  • A central place for your business information, accessible from anywhere with internet
  • Secure storage with access controls, including who can make changes
  • Advanced search options for faster retrieval
  • An approval process so the information is correct
  • Version control so the information is current

All managed for you, and easily accessed through a web browser.

Operational Independence

Capturing business knowledge into a business management system is pivotal in fostering operational independence while maintaining controls to ensure your business functions seamlessly, whether you're on deck or on holidays.

Get Started

At Quality Systems Toolbox, we provide a comprehensive cloud software suite where you can capture business knowledge, protect and control the information, and build systems that will help your business grow.

Book your free demo, or call us on 1300 551 588 (AET).

Get started today

Book a guided tour of Toolbox, one-on-one via Zoom