Manufacturing / Trade

UK businesses given 'top ten tips' for a successful 2011

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News Desk

Written on 31/12/2010 | Posted 6 years 11 months 16 days ago

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Business software company Iris has compiled a ten-point strategy which it says will help UK businesses 'not just grow but thrive' in 2011.

The ten top tips begin with a call to utilise business intelligence tools to share information across the company and to receive real-time data via smartphones, which will 'lessen uncertainty'. The second piece of advice is to automate more processes, with a focus on financial aspects such as debt management and expense reporting.

Iris goes on to recommend that businesses establish a risk management strategy and ascertain how technology can be used to reduce the burden, and to invest in systems for forward-looking projects such as planning, budgeting and forecasting in its third and fourth tips, followed by creating a 'leaner environment' by identifying bottlenecks and other inefficiencies at number five on the list.

The sixth pointer is to outsource to trusted partners, while the seventh is to communicate both successes and failures throughout the business, and the eighth is to keep a tight control of budgets.

The list concludes with recommendations to have a clear business plan and to continue investing in IT.

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