While all operating costs are important to keep a close eye on, there are key areas that can influence how your business runs. Keep your business firing on all cylinders by fine-tuning the expenses mentioned in this article.

The Importance of Operating Costs Management

First, you must understand why it’s crucial to manage operating costs. Staying financially resilient means managing costs in a way that allows for discrepancies and optimizes for maximum profit. Uncertain markets, unexpected costs, hidden fees, and improperly managed finances can derail a business quickly.

If your operating costs are too high and outweigh your sales, this can result in a lower net profit — or even a net loss. Luckily, proper management can prevent this. Awareness of your business expenses can give you a leg up on competitors by allowing you to make informed financial decisions, like adjusting pricing or investing in new technology. If done correctly, effective management allows your business to streamline operations and budget forecast efficiently, considering all expenses.

Actual vs. Standard Costing

Choosing a costing method directly shapes how you manage your business finances. While standard costing involves guesstimation based on historical data and predicted costs, actual costing uses tracked data.

Operating costs are fixed, variable, and semi-variable, meaning they never change, change often, or change unpredictably. For example, fixed operating costs include items like:

• Accounting and legal fees;
• Banking;
• Costs of goods sold (COGS);
• Licensing and insurance;
• Property lease or rent;
• Taxes.

These fixed costs are easier to predict and maintain. However, variable and semi-variable operating costs can change with the amount of goods sold. Further, costs can change based on company behavior. This is where operations management comes in. Learn how to effectively manage operating costs and safeguard the future of your business by honing in on the following areas.

1. Labor

Costs of labor include many different factors from recruitment to benefits. For internal employees, you have to factor in wages, training, payroll taxes, benefits, hiring, onboarding, equipment, and human resources. This can be affected by several factors, such as absenteeism, attrition, and hourly pay that goes up during peak seasons.

To manage these costs effectively, consider:

• Strategic scheduling;
• Cross-training staff;
• Forecasting labor demand;
• Hiring quality professionals;
• Investing in employee development;
• Boosting morale;
• Automating menial tasks;
• Outsourcing certain tasks.

The main goals are to hire the right number of employees, schedule them accurately with demand, and treat them fairly to reduce turnover rates. If you can automate certain manual tasks and processes, this can also save on labor costs. Non-core functions that can be outsourced include IT support, payroll processing, manufacturing, and customer service. It’s often more cost-effective to outsource these roles, as long as you work with reliable partners, or invest in automation software that can make your business life easier.

2. Maintenance

Buildings, vehicles, and equipment all incur maintenance and repair costs. If you find that you are spending too much in this category, consider:

• Investing in upgrades;
• Training employees on proper use;
• Performing preventative maintenance;
• Conducting regular safety inspections;
• Storing vehicles and equipment properly.

These practices can increase the longevity of equipment, prevent injury, and optimize production, delivery, and building efficiency.

3. Marketing

There are increasingly accessible options for business marketing. You can cut down on marketing costs by streamlining some aspects. For instance, look to your analytics and eliminate ineffective marketing channels or tactics. Several aspects of marketing can also be automated, such as social posting with software that can even tell you the best times for optimal performance on each platform. These two easy changes can save you time and money that can be used elsewhere like working on search engine optimization using an SEO analyzer or pushing social media ads. A marketing project and marketing operations can thrive on low-cost yet effective techniques. Analyze how well campaigns perform and adjust as needed.

4. Materials and Inventory

If you source materials to manufacture goods, this can be a significant expenditure. Even if you just manage inventory, there are ways to reduce wastage and maintain accurate stock levels for reduced spending. Consider:

• Purchasing repurposed materials;
• Upcycling;
• Forecasting demand;
• Using inventory management systems (IMS);
• Leveraging tech for real-time stock updates;
• Adopting just-in-time principles;
• Monitoring market trends and demand patterns.

Knowing exactly when to replenish inventory can prevent overstock and reduce carrying costs. Internet of Things (IoT) tech like inventory sensors can provide insight into current stock levels and prevent missteps. All of this plus sourcing lower-cost, quality materials and goods can enhance the cost-effectiveness of your product operations.

5. Shipping and Logistics

Your business’ supply chain processes can also be optimized for cost savings. Shipping and logistics include everything from receiving supplier products to delivering products to consumers. If you have your own fleet, you can optimize your routes and choose energy-efficient, newer vehicles that require less fuel and maintenance. If you outsource, you can work with shipment companies that are committed to reducing transportation expenses and freight rates. Further, opt for local sourcing to cut down on shipping distances.

You can also consider leveraging third-party logistics providers for specialized services. Continuous evaluation and adjustment of logistics strategies based on evolving market conditions and supply chain automation are essential for sustained cost optimization in the dynamic realm of shipping and logistics.

6. Technology

The tech you integrate into your business and in your workplace can be both a significant cost and cost-saving investment. When auditing your tech suite, consider eliminating any unused or ineffective tech. Also, check for upgrades and, if necessary, make changes to other tech that is better at streamlining your unique processes.

Business process management systems are a good example of tech that incurs an upfront investment but saves money in the long run by optimizing business operations. Generally speaking, any tech tool that offers you insight into how to streamline operations is a win-win investment. Just make sure to keep tech updated to prevent costly issues like cyberattacks.

7. Travel and Transportation

Business travel is a costly venture. Flying employees to tradeshows and training workshops can increase your bottom line eventually, but you have to keep tabs on the return on your investment. With the advent of remote workshops and online networking, it may be more cost-effective to have staff attend virtually.

Further, the rise of remote and hybrid work can help you cut down on transportation costs. If you are reimbursing employees for commutes and travel, you can get rid of this expense by offering flexible schedules and work-from-home policies.

8. Utilities

Adopting remote work can also help you save on utilities. Utilities like electricity and water can rack up and add to your operating costs. Using tech to track utility usage can give you insight into where to cut back. Some tools can even automatically adjust things like temperature and lighting to save money and reduce waste.

Saving Money Moving Forward

Continuous monitoring and analysis of business operational performance is a key. When you integrate new tech or strategies, you should follow up and track the cost difference. Also, check in with employees to ensure satisfaction. With automation tools like the Comidor platform and insight into your spending, you can drastically change your day-to-day operations and reduce operations costs for a more fruitful, resilient business year after year.

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Having systems in place to coordinate and track employee time management ensures that your business doesn’t miss deadlines because it is operating inefficiently. However, even if you meet all your deadlines, your business must operate smoothly and cooperatively to maximize growth and profit.

To boost your business, we’ve shared our 7 best tips and tricks for effective task scheduling and employee time management. If you implement these strategies, your business will run like a well-oiled machine in no time.

Understanding Task Scheduling and Time Management

Before we dive into best practices for task scheduling and time management, we need to explain these two concepts and how they benefit your organization and employees.  

Task scheduling and time management are tools and frameworks that assist your employees in visualizing their goals. They help employees break their goals down into small, achievable tasks and prioritize the most important tasks to make the best use of their time and resources. Juggling numerous appointments, to-dos, and deadlines can feel overwhelming even to the most capable employee. However, proper task and time management structure tasks and make it easier to tackle each day’s work as it comes. 

Using smart strategies or task management software to manage tasks and time usage also allows your employees to schedule more demanding tasks for their peak focus times, use tools like planners, calendars, and lists to their advantage, and remain flexible, even when unexpected challenges or responsibilities arise. Ultimately, task scheduling and time management help employees create a workflow that balances productivity with energy levels, resources, and well-being, promoting progress without overstepping limits. 

Practices to Implement Task Scheduling and Time Management

Below, we’ve outlined the most effective ways to implement task scheduling and time management in your organization. This will help your employees streamline their workflows, maximize their productivity, and ensure that they reach their goals in a fast and sustainable way.

1. Utilize Enterprise Collaboration Software

One of the best ways to improve task scheduling for efficient company-wide time management is through enterprise collaboration platforms. The ultimate goal of this kind of software is to enhance company-wide communication to support synergistic collaboration efforts. It ensures clarity on shared targets and goals, allowing greater flexibility when working in teams.  

Enterprise collaboration software allows you to view organizational charts, thus clearly illustrating the business architecture that dictates the appropriate lines of communication. This software also includes reminders, scheduling features, and workforce monitoring. Additionally, it allows external collaborators to utilize the channel seamlessly. It streamlines communication by offering direct messaging services alongside email and video conferencing. It’s also important to note that scheduled tasks can be synced across features.  

Another attractive feature of enterprise collaboration software is that it’s highly secure. This means that employees can communicate without experiencing anxieties surrounding the potential leakage of sensitive company information. If you want to begin task scheduling while boosting employee time management, Comidor’s enterprise collaboration software is the ideal solution.

2. Improve Your Scheduling Process

Many businesses overlook the vital role that scheduling plays in daily productivity and effective task scheduling. Countless potentially productive hours are lost every day to poorly planned schedules. When you utilize Comidor’s process scheduling feature, you can avoid wasting precious time when scheduling repeat or rescheduled tasks and processes. This feature manages your schedule in a highly organized and time-efficient manner so you don’t have to.  

Scheduling offers several optional details such as assigning “importance,” “priority,” “responsible group,” and “supervisor” specifications, to name a few. The layout of a high-quality schedule management tool should be intuitive and user-friendly, too. This will help you in your task scheduling and employee time management endeavors. 

3. Utilize a Task Management Tool

Another important step to implement effective task scheduling alongside employee time management involves utilizing a helpful task management tool. Task management tools streamline processes that would otherwise be laborious and include inevitable slip-ups and miscommunications. Tools like Comidor Task Management manage personal and team tasks. It manages tasks assigned to you and tasks assigned to others.  

Task management tools allow you to get as intricate and detailed as you require per task. They boast exceptional organizational capabilities that ensure tasks and relevant information are meticulously ordered, grouped, and shared with relevant colleagues.

4. Customize Your Digital Workplace

While there are many recommendations everyone should follow for effective task scheduling and time management, you must establish a system solution tailored to your individual preferences and needs. Every individual in a business will have different daily priorities—not to mention completely different jobs.  

It’s important that every employee can customize their digital workplace to bolster their productivity. To optimize efficiency and productivity within your organization, it is highly advisable to leverage customizable online workspaces, dashboards, or productivity tools provided by platforms like Comidor. By incorporating such tools, employees gain the flexibility to manage their schedules, tasks, meetings, documents, and notes in a manner that suits their preferences, leading to enhanced organization and effectiveness across the board.

5. Your Manager Matters

At the end of the day, you can have the best software tools at your disposal. But you still need a passionate individual to oversee your business’ coordination and time management. The good news is that the availability of digital workspace platforms can enhance the insights and capabilities of a good manager.  

Digital workspaces are famously supportive of collaborations among various employees in a company. Managers can utilize this to its full potential by streamlining communication and the assignment of tasks. Furthermore, depending on the business policy, they may have access to behind-the-scenes insights into the activities and overall productivity of individual employees and different departments.   

6. Be Flexible

It’s vital to remain open and flexible when working towards increased efficiency and organization in any business. As mentioned above, your manager is responsible for overseeing the practical pursuit of this goal.    

Managerial insights from your online workspace are often generated through statistics. This allows managers to track and compare internal company progress in a highly accurate and accessible manner. With careful thought and skill, task scheduling strategies and time clock or tracking data can be compared to weekly productivity insights. This can help a manager assess which task scheduling system works most efficiently. This information can then be utilized to inform a more long-term strategy for improved employee time management.  

7. Embrace Automation

Automation is an essential tool for any business. It offers the ability to automate and streamline repetitive tasks to save time and money while maximizing efficiency. It can provide an enhanced experience for your customers or clients, boost productivity, and help you gain a competitive edge in your industry. Automation can also free up your team to tackle more creative tasks and problem-solving requirements, leaving your organization with more room to grow without sacrificing efficiency or customer satisfaction.  

Utilizing automation software to implement effective task scheduling and employee time management can take a little time to integrate and get used to. However, the best platforms are intuitive and user-friendly, making the learning curve short and sweet.   

All-in-one business process automation tools like Comidor offer a unique collection of automation features that work together to achieve highly effective task scheduling and time management. Features like process automation, low-code application development, project management software, CRM and sales automation, accounting and finance modules, and quality, risk, and compliance tools ensure that every part of your business can be partly or fully automated to reduce the pressure on your workforce. You can also integrate Comidor with popular cloud services like Dropbox and Google Drive, making it easier to store and share large files securely, or incorporate the use of tools like Google Search Console into your business operations”.

Conclusion

If you follow our recommendations, we are certain that you will effortlessly gain mastery in the art of effective task scheduling and proficient employee time management in your projects. With the right software tools at your disposal and a positive attitude driving your team forward, success is not only achievable but also inevitable. Embrace these strategies wholeheartedly, and witness unparalleled efficiency and productivity within your organization unfold before your eyes!

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1. Don’t forget tasks

Crucial or minor, urgent or future, complex or simple, no task should get forgotten. According to Anders Clark, Writer / Editor / Project Manager at Disciples of Flight “Online Task management software is a good way to log and organize the tasks as they come, and be reminded to take care of them at an appropriate time”. Jordan Warzecha, CEO & Co-Founder of backstitch, illustrates it with an example based on his experience “Anytime something like a bug or customer request comes up we put it in a Priority Dependent list that we pull from when assigning tasks. That way we don’t forget ad-hoc tasks but don’t have to stress about them in the back of our minds. We can just add it to the list and move on.”

2. Cleaner Email Inbox

Actually, the majority of emails is related with tasks. Tasks that have been assigned to you or tasks that you have assigned to others…David Bakke from SparkCharge Media LLC underlines that “Online Task management software offers a better way to communicate rather than relying on say, email.” Corey Barnett, Founder & Consultant of Cleverly Engaged Marketing, has noticed that “The ability to comment on assignments directly in the task management software keeps more emails out of the inbox. It also prevents super long email chains of 50+ replies that are difficult to read.”

3. Enterprise Collaboration

Mark Tuchscherer, co-founder and president Geeks Chicago describes “We have people in multiple offices, all working on multiple tasks with different groups. People can view and update tasks on the go. If something changes with regard to a task, individuals can receive alerts on their mobile phones and laptops”.

Vasili Puntus, Marketing specialist at Xpansa Group shares with us “Our team can work together with a lot of tasks at the same time. We can quickly and easily communicate and interact each other when it needed. In this case, we can know and plan resource usage. As a result, it allows us to save time for all team and help us to work more efficiently and faster. People in the company can work together around the world mixed the knowledge, culture and help our company grows together with them.”

4. Sense of Accomplishment

Completing task is satisfying by itself, but using task tracking tools it can be more…! Steve Gibson Director of JotForm Inc considers that “It’s extremely satisfying to move things from one field to the next.”Moreover, as Jordan Warzecha explains “Being able to look back at everything that got accomplished over a day, week or month gives a concrete way for a team to have a sense of accomplishment.” Marc Prosser, co-founder and managing partner of Marc Waring Ventures, agrees and wonders “Who doesn’t get a kick out of crossing items off a list?”

5. Responsibility

Individuals using task management software may feel more responsible. Manish Raje, Founder of MyOPDClinic Software, explains “When a Task is assigned to an individual, it keeps the individual on track with a set date of completion. As people become more accountable, they feel more responsible.”

6. Productivity

Marc Prosser,describes “Task tracking software can track how long and how much effort things take to accomplish, and in so doing, can help you refine your productivity. If you’re not tracking something, you can’t optimize it, and task tracking software can be a great way to assess how you’re doing at specific tasks.”

7. Traceability

Steve Gibson informs us that using task tracking app “You can give an accounting of what you did long after the fact.” Manish Raje has realized that “People come and people go. As a result, an important business function is to know history of a Task, may be days or years later, be it any communication or a support issue. With everything logged into a Tracking software, business become less people dependent and more process dependent.”

8. On time and budget

Mark Tuchscherer considers that “Tracking tasks with software is one of the best ways to ensure that tasks and projects hit deadlines while remaining on budget.” According to Amy Fowler, Online Marketing Manager of Boom Online Marketing “Probably the biggest benefit (to task tracking software) for us as a company is the ability to manage client budgets. Everything we do at Boom is highly variable; our clients all have different budgets, and instead of charging a fixed amount for each task we do, we charge an hourly rate for our time. This means that without task tracking software it would become very (very!) difficult to keep track of how much of each client’s budget has been spent, especially since we also need to be able to keep track of this throughout the length of our working relationship with each client (even though our clients pay a set amount each month, we’re a little more fluid in how we use their budget and we just need to ensure that the books balance over time).”

9. Human Resource Management

Steve Gibson and Anders Clark agree that “with task tracking software, you start to gain a better idea of how long certain tasks take, and what resources they require and this allows you to better plan for similar tasks in the future.”

Amy Fowler claims that “Task tracking software is also imperative in managing our staff’s time, and ensuring they’re not under, or overworked. Although we can never measure exactly how long something will take, we assign each task a set number of hours. This means that, once we’ve calculated approximately how much work each member of staff would be capable of completing in a given month (another huge variable on account of staff’s differing responsibilities, and of course, holidays) we can ensure they’re assigned the right amount of work to fill their time.”

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Key reasons that make people feel absolutely right deciding to not use Task Tracking Software are the following:

1. Ignorance

Ignorance of Task Tracking Software variety, pricing, features and functionality can be considered as the main reason that people do not use this kind of apps. According to Julie Titterington, Managing Editor of Merchant Maverick, “If people knew that there were inexpensive, user-friendly tools without extraneous features which do not require installation, training, or IT support to maintain, they would be much more likely to use task tracking software”. Leslie Shreve from Productive Day describes that “using task tracking software professionals can continuously plan and track action steps, compare and contrast everything they need to do from multiple sources: email, voice mail, papers, files, meeting notes, conversations, etc., prioritize accurately and effectively, and know where their time should go without losing track of the rest”. Here comes the question “do people know that all these can be done in an easy and quick way”? Maybe yes, however then the issue of pricing may rise. AsJulie Titterington informs us “they assume (falsely) that task tracking software is too expensive and won’t fit in their budget. The truth is, however, that most basic task tracking tools are relatively cheap, and some are even completely free. Even if you have to spend $50/month to help streamline communication and increase productivity in your business, it is well worth the investment”.

2. Lack of Strategy or/and Methodology

Without linking tasks with business objectives or having no methodology for task management in order to enhance collaboration and improve productivity there is no reason to use Task Tracking Software. Leslie Shreve points outthat“without a methodology for their technology, a system and a process to follow, professionals struggle to know how to use task tracking software”. Sabrina Atienza  from Qurious.io emphasizes that“It’s tedious to configure task management software properly” and Leslie Shreve adds “The default screens on task lists typically show Subject and Due Date which entice people to add projects and due dates (even when there’s no formal due date) and it keeps professionals stuck in project management thinking instead of task management thinking, and that isn’t helpful for making meaningful progress”. Paul Sokol, Data Scientist at Infusionsoft has observed that “When first getting started, the feature overload distracts a new user from focusing on the objective which is to set it up in a manner that works best for them and their workflow. Even worse, sometimes people aren’t even present to their own workflow and style, so they will configure things wantonly and hope it works”. Having a specific methodology for task tracking you know what you need to configure and how to customize it. Consequently, you can save time on the transition process and achieve enhanced collaboration and increased productivity by using the specific tools.

3. Fear of Accountability

Some people may be not so productive, as the want to be, due to several reasons such as ineffective time management, procrastination, wrong prioritization, lack of motivation, lack of discipline, distraction issues etc. Definitely, there are also those who do not care to be productive. Both would not like to reveal their low productivity using task tracking apps. Moreover, even productive employees may feel exposed using them. Sabrina Atienza explains “Task tracking software can illuminate who’s really doing what, how effective they are, how much time they’re spending or wasting, and so on. That level of transparency is scary”.

4. Lack of Commitment to the Habit

People realizing the benefits of using task tracking software, they consciously decide to use it. Unfortunately, this is not enough. They should do it daily and this requires great discipline. Paul Sokol warns us ”for a task tracking program to deliver the value it promises, the user must make using it a daily, unflinching, habit. While a lot of people can see the value in a task tracking program, they lack the discipline to use it impeccably every day. As a result, they sporadically use it and things get chaotic”.

5. Lack of Commitment to an Official System of Record

Ok, we have to admit it; Habit Change is extremely difficult. As Paul Sokol claims “Even if someone can get a task tracking system setup and use it daily, there still has to be mindfulness in getting any and all new tasks into that system as soon as they are identified. It takes effort for someone to adjust their thought processes and stop using sticky notes, or random notepad docs; they slip into their old habits easily”. Julie Titterington elaborates a little bit more on this issue stating:“They like things the way they are, and don’t want to change to a fancy new system. People don’t like change, period. Task management tools exist to consolidate information/files and improve interoffice communication, so fully committing to task tracking software usually entails giving up other forms of business communication, like sticky notes, casual conversations, phone calls, and email. For some businesses and business owners, it is just too difficult to make the transition”. But, keep in mind… as Aristotle said:“We are what we repeatedly do. Excellence, then, is not an act, but a habit”.

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Wikipedia on the other hand states that: “Productivity is an average measure of the efficiency of production. It can be expressed as the ratio of output to inputs used in the production process, i.e. output per unit of input…Outputs and inputs are defined in the total productivity measure as their economic values…”

In wikipedia’s productivity the prominent dimension is not time (even though is implied) but the ratio of outputs (i.e: products, services etc.) to inputs (resources, effort, etc.). And you ain’t  have to be a rocket scientist to understand that in order to increase the outcome of the division (cloud productivity) you have to minimize the divisor (input).

Moving your business to cloud you do just that. Your increase cloud productivity by minimizing your IT spent resources as Cloud offers:

• Minimum Operating Expenses: As you lower capital expenditures by not having to invest in and maintain expensive IT infrastructure.
• Focus on the job: As you have your valuable resources (otherwise spent to IT maintenance and upgrades) to be assigned in your products and services improvements.
• Improved Integration: With Cloud you don’t care of the operating system that runs on the other side of your IaaS platforms. It is Cloud’s embedded philosophy to provide exceptional interoperability across data and services.
• Scalability: Cloud scalability allows you to automatically re-adjust your web characteristics in order to always cope with increased demands without compromising performance.
• Availability – Reliability:  24/7 service, automatic systems upgrades, continued software support and SLA bound guaranteed uptime and data protection. Nothing more to add here
• Last but not least: It’s a greener solution due to its scalability.

Got it already? It’s not about fancy economics, not even mathematics. It’s plain 2nd grade elementary fraction problems!

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Task Management tools  are everywhere and technology’s growth seems unstoppable. The growth is not only coming in terms of accomplishments (incredible new materials, superb energy efficiency, medical miracles, sci-fi patents, miniature engineering, speed-of-light processing software), but also in terms of geographical penetration.

Actually, the whole planet is benefitting from technology, even in places that no one would ever imagine. Long suffering Afghanistan has more than 1 million internet connections and 18 million mobile users in a population of 32 million!(The World Facebook) In one of the poorer and more isolated places of our planet, one out of two is daily paying for technology services. Marconi and Tesla surely rest in peace.

However, technology’s most important penetration is to enter everyone’s daily life by facilitating the fundamental human need for communication. Moving one step further, to elaborate this need into something that brings tangible results: technology facilitates collaboration.

Collaboration adds value on the flat verbal exchange by adding the element of mutual goal. From individuals to friend groups, from project teams to large company departments, everyone is using technology tools to accomplish mutual goals. And technology is quite generous with providing affordable collaboration and productivity measurement solutions, since location and volume of the collaborators is not a problem anymore.

Welcoming BPM platform

Various collaboration tools exist in the global market: simple calendar organizers, fun team-project tools, professional enterprise collaboration systems, CRM Project Management softwares. Some still run only on desktops via the company’s local intranet, while other run on smart mobiles and tablets using the Cloud technology. All of them share the same cornerstone: the tasks from BPM platform.

Despite tasks ‘ importance as a fundamental element in the collaboration process, it is admittedly neglected. Managers prefer grandiose and impressive terms, such as: sales plan execution, project management scheduling, financial consolidation, enterprise social networking etc. On the other hand, employees avoid the word “tasks” for the fear of extra work and responsibilities.

Still, it is the careful-designed task management process (assignment, execution, monitoring and reporting) that will deliver sales volume, successful projects, financial results, efficient collaboration and drive a company to grandeur, while helping the employee to show-off his daily contribution in printed reports.

Especially, in times of global economic turbulence, when the latter is haunted by cost-cutting policies and cost-efficient machines, tasks monitoring within collaboration tools can be claimed salvation.

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