You probably already know that the back office is a vital area for the functioning of any company, being responsible for important tasks such as documentation analysis, compliance procedures and identity validation.
What you probably don’t know is that, according to a recent survey by McKinsey & Company, employees face a significant challenge as they spend an average of 1.8 hours per day searching for and collecting information.
This lost time equates to 9.3 hours per week, directly affecting business productivity and efficiency.
Find out, from now on, what causes this problem and how to solve it.
1 – The worrying scenario of wasted time in the back office
Comparing this loss from McKinsey & Company’s research to the hiring context, it’s as if companies are investing in five employees, but only four are actually working.
This leads to the manager must select the appropriate routines for companies, which may face project delays, low-quality decision-making and customer dissatisfaction.
In other words, we are talking about a reality that literally makes companies waste a lot of time and money if nothing is to change this situation.
2 – Additional challenges in the back office when dealing with decentralized information
When we talk specifically about backoffice, there are a series of sensitive tasks that require the analysis of documentation from multichannel marketing email and sms mailings and legal entities.
Compliance procedures, identity validation, and background checks are just a few examples of these critical activities.
However, the previously lost time is further in these processes. That much information may and across different systems and sources.
Decentralizing information makes back-office work more complex, as employees need to collect data from multiple sources and platforms.
The direct consequence of this is the increased risk of errors and outdated information, which can lead to serious problems for the company, such as fines for non-compliance and even legal issues.
3 – Integration as a way to solve problems
Another relevant point is the lack of awb directory of sources in the research platforms currently available. The absence of this integration can result in problems in obtaining accurate and up-to-date information.
The truth is that without a consolidated view of data, the back office is susceptible to failures, which can result in decisions based on incomplete or inaccurate information.