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Cutting costs is a priority number one for many businesses, and it's not an easy challenge.
Some people think that by looking at the costs table and deciding which numbers to decrease, will actually cut their costs.
The reality is, your business is like a plant, which needs water, sunshine, and care.
Unless you want to kill the plant, you cannot cut on life essential requirements.
Same goes for your business.
Finding the unnecessary spendings is, therefore, step number one.
For instance, it could be unnecessary steps in your business process or duplicated tasks, but first, we need to make everything transparent so that we understand where we can save money.
This is possible with Fenorri since it makes your entire organization as transparent as possible.
You'll be able to see your processes and people, they will no longer be grey.
Here are just some examples of how Fenorri will help you to cut your costs:
Business process automation is a must-have for any company these days, and it's easy to automate when Fenorri allows you creating any business app on the fly, without having to code anything, relying on packaged solutions which don't support your real-life business model. Anything you can think of can be immediately automated! This cuts your costs on manual processing. What Fenorri brings to the table is the ability to do it painlessly and instantly.
Once your business processes are automated and organized via Fenorri Zero Code Instant Apps, you can have the luxury of not relying on expensive professionals, hiring less expensive personnel, while maintaining the same or even higher quality, since Fenorri will do the job and ensure everything is running to how you need it.
You can cut costs by decreasing the number of mistakes caused by the human factor or having business processes which contain mistakes. For instance, it will allow having fewer returns, not meeting client deadlines, et cetera. This is possible by allowing Fenorri execute your business apps, controlling the quality and risks.
Fenorri can improve your work and service quality, giving you a competitive advantage. This will allow conquering new markets, obtaining new clients, expanding new areas of your business. It will also increase your reputation. As a result, you can either increase your price or your sales volume. This might not immediately cut your current costs, but if executed correctly, by making more money while not compromising the quality, it decreases your operational costs over time.
You can reduce your business requirements in case something has changed in the past couple of years and there is simply no need to process some data or perform some tasks. These things can be easily identified with Fenorri since your business becomes transparent.
You can eliminate liaisons and coordinators since most of the things can be discussed using the tools that Fenorri provides. For instance, people can communicate on their department page or inside groups, and from what we see in our clients, comments, and posts inside the system work the magic: people get the information they need instantly. What it means for you is that you save on man-hours and instead you can put your liaisons and coordinators on something more valuable for your business.
Is your team spending too much of time on reports? Can anyone instantly pull data, create a report, add charts, then share it with others to get some feedback? With Fenorri one can instantly create a report (via drag-and-drop) and add charts. Everyone will always see real-time data only. Having simplified the process of creating reports, we've ensured that it takes the minimum time/effort on this otherwise labour-intensive activity.
Any mistake in work process increases the cost, therefore by minimizing mistakes we can decrease costs. If we make certain that there are least mistakes in data entry, data analysis/interpretation, or other parts of our business apps, we will decrease the overall cost. Fenorri allows to sharpen and optimize business apps, deploy control, monitoring, and risk management mechanisms to reduce mistakes.
We can reduce costs on business administration since with Fenorri we can automate and optimize many administrative processes.
It takes less of time to perform a task when everyone's work is well-organized. Transparent and clear business processes allow everyone to become more organized and execute their tasks quicker and with fewer mistakes, leading to saving time and money.
By automating and optimizing your business processes via Fenorri Zero Code Instant Apps, it is also possible to decrease the number of employees, which will cut your costs. This does not necessarily mean people will become redundant. From our experience, in 95% of cases, staff members are usually relocated to other functions where their experience and talent can bring most of the benefits to your company.
By optimizing, automating and streamlining processes in the company, you can definitely reduce the time needed to perform work, reducing the overall cost. This in return allows increasing your sales volume without having to scale up your team.
Based on our customer's experience, after automating, optimizing and streamlining business processes via Fenorri Zero Code Instant Apps, the quality goes up, while the amount of time (and money) to get the work done goes down. This will bring down your production or service costs. It's a very simple formula to improve your efficiency, and with Fenorri it's easily achievable!
One of the major trends in the past few years is telecommuting. Many companies have successfully implemented this practice, reducing their costs of running the office or hiring cheaper employees from outside of their region. Fenorri gives one unified working environment to the entire organization, regardless of team member geographic location. Both web and mobile interfaces have advanced features, allowing the entire organization to work productively while staying transparent, easily manageable and predictable.
While optimizing business processes, we should remember one important detail about it. We can start correctly engaging our teams in a better way only when we make things in our process more simple and efficient, allowing our work to move faster and to decrease the load on our employees. Fenorri gives you the right environment for achieving this, saving tons of money in the long run.
Over the past decade, we saw how much of money companies have spent on software and IT, and we have structured Fenorri with the aim to reduce those costs for you.
If you do not manage your risks, you will be losing money. Fenorri allows you to create your own risk management system (something that was mainly popular in the banking and insurance sectors only). Every company has risks, but not every company manages them. Risk management should never be handled manually, you need the right technological tools. From our experience, business risks are usually ignored, leading some business to have serious challenges. With Fenorri you will be able to automate your risk management processes, decreasing them to a minimum.
One way to cut the cost of mistakes in decision-making is by making the right informative decision at the right time. This reduces many costs in the short and long runs. Fenorri will help you see the reality clearly, by analyzing your data, build a predictive analysis, show your priorities and guide you in your decision-making.
By getting a competitive edge you will not decrease your costs much, but rather you can increase your market presence and a number of clients. Fenorri allows you to release your real potentials, build better teams, support the creative spirit in your employees, deliver new products/services faster, and become transparent and agile.
If you decrease your production costs, you'll be able to increase your profits. With Fenorri you can easily identify the areas of your business which can be improved, to help you reduce your overall production cost.
If you become agile, you will have less of chances to miss a new business opportunity. With Fenorri you can adapt to new market conditions quickly and painlessly, reducing the cost of a missed opportunity and all the impacts you get from it in the long run.
Over the past few years, we've been monitoring how companies normally work. We have concluded that meetings take a lot of companies' time. If you calculate the man-hours that go into running, attending and preparing for those meetings, you will be surprised by how much it costs your organization. In fact, it's millions, and sometimes billions of dollars for the world's economies. This can be easily solved inside Fenorri. It gives you the ability to comment and discuss any particular resource (e.g. reports, files, business apps, events, posts, etc.), allowing to clarify any grey areas.
The meeting itself is a separate event page in the system with a timeline (posts, files, business apps, reports, etc.), where things can be discussed in real-time before the meeting even takes place. That way, during the meeting you spend less of everyone's time on clarifying things or listening to multiple ideas or suggestions. Instead, you only focus on something that could not be resolved in the virtual space. By drastically reducing your meetings, you will not only save time and money, you'll be able to make people become more focused and productive.
Defects can be anything (e.g. mistakes in order delivery or services, et cetera). Reducing the costs from defects can be achieved if proper governance mechanisms are in place, which is another advantage that can be achieved with Fenorri.
In case you have decided to decrease your costs by using outsourcing, and you have some business processes which you are trying to outsource, then with Fenorri, you will be able to outsource a completely automated and managed process, which is integrated into your other business processes. This will make sure that outsourcing works for you and that you meet your goals with it.
One area of business process optimization is in restructuring or reduction of cross-department activities since it cuts down your overall costs in running the company. This is possible with Fenorri, since not only you'll be able to create and run any kind of apps, making them more transparent, but you can also easily restructure and improve them by seeing how they work in a real-life scenario, making an informative decision on how to make an improvement (e.g. duplicate tasks can be eliminated, communication reduced, collaboration improved, etc.).
In general, reducing the time wasted is a big cost saving for any company. With Fenorri it is possible to find when and why time is being wasted, which is the first step. Then it is possible to fix the root-cause, depending on what it is. The most important thing is being able to see that the problem exists, which is possible inside a transparent and controlled environment.
Improving your team's collaboration is another method for reducing costs. This can be achieved only in a transparent organization while motivating people to have a better collaboration. The idea is to make everyone to be on the same page, help each other in their tasks, and focus on working better as a team, reducing mistakes, duplicated effort, sharing knowledge, providing information and advice faster, and creating a healthier environment.
In order for some businesses to solve their goals, they build a partnership with other companies. It's easy to achieve that when your business is automated, with managerial and controlling mechanisms in place.
One needs to strictly control all purchases and spending to decrease the running costs of their company. One way to do that is by having simple and effective automated mechanisms.
You can decrease your costs when you start utilizing your employees in a better way.
For instance, one of our customers had sales managers spending more time on their existing customers, instead of searching for the new ones.
The management decided to shift some of these tasks from their sales people, to less expensive administrative staff. The overall effect was getting a cost reduction and a profit increase.
This is possible to achieve in an agile environment, where Fenorri lets you design or define new apps on the fly, ensuring anyone in the company can use them.
Some companies are spending money on overtime. When the planning is right, there is no need for employees to stay long hours in the office. This is possible when business apps and employees are transparent, having a real analysis of what is happening inside your company. With Fenorri this can easily be achieved.
Cloud technologies save you money, it's a well-known fact. Fenorri works only in a virtual private cloud, saving you from the hassle and costs of running your own IT infrastructure, as well as spending money on system administrators. Since this will be your own private cloud, you will get more protection and reliable service.
Once you have decided to minimize costs, and you have implemented mechanisms to achieve that, you will need dashboards and real-time reports to inform you if everything is going according to your plan. Fenorri gives you this ability. You can always monitor if your guidelines are being followed and you are minimizing your costs.
While some people might argue about this, however, boosting your employees' morale can actually cut down your costs. We have seen a direct correlation of employees' morale and profits when companies have actually cut some of their costs (such as hiring more employees, losing the good team members, having to deal with inefficient workers, etc.).
Grey and unclear business processes normally have a negative impact on the efficiency and performance of your employees. If every person understands how and why they do their tasks, it will improve their performance. But most importantly, it will cut the costs of losing 'irreplaceable' staff members, since no knowledge will be in someone's head. Instead, your business apps automated and optimized with Fenorri over time, and the knowledge around your business is easily accessed and shared among the team members.
You will definitely cut down your costs by removing emails from daily tasks. It became a usual rule, the more e-mails are bouncing between the employees, the more time everyone spends on reading and responding to them. We can change this by using the Fenorri social network, where communication takes a shape of comments, posts and notifications. With the help of Fenorri's powerful messenger, people can discuss and share their resources (e.g. files, reports, business apps, et cetera). Most importantly, when someone writes a comment and mentions a person in it, the person opening that comment sees the resource (e.g. a report, file, business app, event, post, et cetera). As a result, the person doesn't spend time searching for the resource and never opens an older version of that resource. This makes it easier to understand the question and respond much faster. These simple mechanisms in real life cut the communication costs drastically. If you would like to calculate how many man-hours your colleagues spend on emails in your organization and how to reduce that, we will be more than happy to help you.
Fenorri automatically generates files via business apps (such as contracts, orders, et cetera). It takes literally a few minutes to create the business logic, and people will be using it with one click to automatically generate files.This saves you time, normally wasted on manual file generation, decreases mistakes and human errors, bringing down your overall costs.
Fenorri allows you to view previous versions of a file instantly. It's also possible to move a previous version of a file to the current one with one click. This saves on man-hours when people are working with files and increases their efficiency.
Information searching is another grey area in many organizations since when someone needs something, sometimes they spend days on their search. Searching becomes easy when we have a centralized system where people communicate via posts, comments, and messages, and when we allow people organize the information in the form of groups, hashtags, pinboards, timelines, et cetera. Everyone will be much faster and efficient in finding information, reducing their man-hours, allowing everyone to make the right decision quicker.
Tactical planning can increase everyone's productivity in your company if people are well-organized. Which is why Fenorri provides you with a calendar system where one can easily plan anything via a simple drag-and-drop. You can also view other people's plans or create events (e.g. meetings). You can drag-and-drop resources directly into your calendar (e.g. business apps, TODO list item, etc.).
Having a report editor in Fenorri, where everyone can create and edit reports, speeds up the entire process since your employees don't need to depend on IT, can quickly change their own reports that will always contain up-to-date data.
Fenorri comes with a business app zero code editor, where everyone can create and instantly run processes, fix business mistakes on the fly, and fulfill new business requirements, saving you time and money. Having a prompt solution to your business case allows flexibility and conquering new markets quicker, reducing the overall costs and the impact of everyday economic and market changes.
Spreading the information in the blink of an eye allows having everyone on the same page and implement changes fast, which is really important in some business cases. This reduces the time and the overall impact on how fast something gets delivered and implemented. It's all possible with the Fenorri enterprise social network, where information is available and gets delivered instantly in the form that everyone can understand (e.g. posts, notifications, comments, etc.).
With Fenorri it's possible to save on software, IT and implementation of new business apps, and this not only reduces our costs, but also you don't have to rely on 3rd party providers anymore. This accelerates your work, bringing down the costs, allowing you to thoroughly control your business.
Some of the Fenorri widgets and gamification elements allow motivating your employees to become efficient and productive, which is another money saver for you. Having an environment where people are constantly motivated will make sure your company's productivity is never going down.
By looking at Fenorri dashboards and seeing who is really productive in your company, you'll be able to make an informative decision how to move your company and your teams further. Any resource utilization should be carefully evaluated before you start with your plan. This will reduce strategical or tactical mistakes in the realization of your plans.
Fenorri TODO list feature allows people to map what they see in the system to what they need to get done. They can also set deadlines, enter notes, and map their items directly into the calendar. This will save on their man-hours and help to carefully plan how to execute tasks, increasing everyone's productivity.
With Fenorri it's easy to set access control to everything, reducing your costs that you normally spend on having a dedicated IT related personnel to do the job that anyone in the company is capable of. It will also potentially increase the level of security and privacy, ensuring that only authorized people can get access to sensitive resources.
There is one thing that you can only find in Fenorri, even if you look at other solutions on the market. It's the ability to change things immediately, regularly and at absolutely no cost. This allows becoming competitive and to cut costs in problematic areas. You will be constantly improving your business and adapting it to new requirements.
Usually, IT costs are huge not only when companies are trying to build their own systems, but even when they buy packaged solutions. There is an explanation for the high costs. Consider the fact that IT users don't normally fully understand your business processes since they are not even the end users in your organization. While building a system, every party involved will have their own understanding of how your business should function, leading to massive misinterpretations and errors (logical, managerial, tactical, etc.).
As a result, you spend time and money on rolling out a solution, where your business users don't get what they wanted in the first place.
Quite often by the time, a solution is ready, business processes have changed.
There is only one way out, and it is to allow your business users to define, build and control their apps.
Historically, the technology was never good at letting this to occur, and the problem remains even today.
With Fenorri business users can finally start being in charge of their business apps in order to solve their real challenges.
They will be able to control their apps, change and improve them, without ever having to rely on anyone.
Would you like to get a beta invite?