Whether your company provides services or manufactures goods, it still needs to communicate with other companies. This is two-way communication – you sell something and you buy something. In today’s topic, let’s leave aside the process of selling your goods and services to the customers and focus on the purchases by your company. And, as always, I’m going to review the invoice approval workflow using a real-life example.
Every successful company needs to grow. And this process requires it to track capital expenditures, especially those which create future benefits. A very important part of tracking capital expenditures is the approval part. Over the past 30 years CapEx tracking has come a long way literally from the Stone Age era to flying planes. What has changed? Let’s make an excursion along an imaginary museum of CapEx process management evolution.
When budgeting for household expenses, I make sure to allocate an amount for unexpected expenses – school projects, allergy medication and leaking roof, among others. If a high-ticket purchase needs to be accommodated, the husband and I sit down to talk about it.
Managers often have a complicated role. They’re in charge of both the big picture and the little details. Staying on top of everything is a big part of the job. Whether complicated or simple, project tracking requires the ability to see the forest as well as the trees. And staying informed is essential to having the right information when it’s needed.
Have you ever heard of the extreme collaboration (XC) concept? I am so ashamed that I actually learned about this only a few months ago. The concept itself was presented and successfully works since 2001.
Your project has its own goal and consists mainly of daily routine tasks. How do you coordinate your team effort efficiently to deliver a result? Probably, you start with any project management tool to set milestones. After that, you still have to distribute tasks manually. Can this be optimized as well?
Have you ever wished for the benefits of social media in an online collaboration tool? In today’s modern workforce, online networking is very common. People from all over the world stay connected through social media. Imagine increasing team efficiency by bringing the power of this tool to the workplace.
Motivating employees is the most important ability of any successful manager today. In several business areas (software development, for example) competition for experienced employees is very hot. And you cannot actually lure an experienced software developer to your company by only using traditional motivational methods such as a high salary, medical insurance, free lunches, etc.
Perfect planning? A worthy goal! As a manager, you know that planning is key. But even with the most perfect plan in place, work practices often need to change. Workflow change management is part of the job. How do you stay flexible and responsive to change without slowing down the work at hand?
Imagine being able to know exactly where your project is at any given time, right down to the nitty gritty details. It’s a manager’s dream and one that we’re always trying to make reality. To find success in today’s fast-paced work environment calls for excellent time management and communication skills. We’re multi-tasking masters. Communication connoisseurs. Whatever the job calls for, we can do it – but let’s remember, we’re only human. Sometimes we need a little help along the way.