By: PACManager Admin

Informed Decisions Save You Money

Staying up late just to finish a show on Netflix, eating that second doughnut, splurging on a pair of impractical shoes… We’ve all done it: Making the same mistake twice. These are harmless, but what happens when a bad decision sneaks into your business?

Have you ever made a business decision that cost thousands of dollars in labor, materials or possible revenue because you didn’t have all the data you needed to make that decision? Perhaps at the time you didn’t know what you didn’t know. Any person who has made a bad decision that led to serious consequences will tell you that you won’t forget it. So where do you go from there?

Learn

First things first, take a breath and brush yourself off. Sure, it’s hard to pick yourself up after losing thousands. Take the time to gather composure as it’s extremely important to take a step back and look at the outcome logically instead of just emotionally. There may be dozens of reasons why you made the decision, but it’s not the time to justify, but rather to learn. Next, determine what steps should have been made to make a more informed decision.

Educate

Put processes and software in place to ensure the lessons from last time and new data will be understood the next time a big decision is made. As you gain more employees or promote within your company, be sure to explain to them why your processes are the way they are. The more you educate your employees, the less shortcuts will be made, the more accurate the data will be and the better the business will run. With an eye on the data, you’ll be able to learn more about the growth of your company and make better decisions.

Grow

Informed decisions ultimately save you money and keep you from making the same (or very similar) mistake twice. There may be other bad decisions — like eating too many of the office doughnuts – but with efficient processes and accurate data, you won’t have to worry about losing thousands. Most importantly, grow from these mistakes, always be learning and trust the data.

PACManager combines the best features of CRM, PSA and BPM software to simplify how you access and track your data. Utilizing PACManager to set objectives, businesses can track the progress of those KPIs and Metrics. Processes are required to ensure accurate data; PACManager makes sure those processes are followed. Costs come in all forms: staff, materials, equipment and expenses; PACManager reports on all of them. Give us a call today for a free, honest and unconditional discussion and we’ll be happy to help however we can.

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