3 Reasons Why your Company is losing Billions of Dollars Annually

Running a company is not as easy and glamorous as people think. There are a lot of factors business owners and managers must consider: maintaining smooth operations, ensuring that you profit at the end of a year and getting to manage the dynamic component of your business – the human workforce.

Achieving employee productivity levels that surpass 80% all the time is a dream come true. The reality is, however, there will always be lapses and deficiencies due to human error.

The size of an error need not be a big one. But, if solutions are not implemented to address and mitigate the cause of the oversight, these errors will accumulate and their compounded effect will damage your business operations and systems.


So what signs should managers and owners look for in order to avoid losing billions of dollars yearly?

Unnecessary administrative work.


Roughly $687 billion dollars annually are the accumulated losses of U.S businesses due to unnecessary administrative work reported by the Workforce Institute in 2016. Something as simple as manually plotting employee schedules and shifts can contribute to this problem. People in management positions should focus on leading, optimizing, and driving value-laden decisions instead of worrying about why an employee’s record is incomplete or sourcing office supplies or other back-office tasks.

Absence of workforce management system.


A manager cannot be physically present in two places at the same time. Businesses these days usually expand nationwide or across the globe. People communicate using various platforms. So instead of having just one hub of communication, companies distribute employees’ tasks on several apps which can be confusing, expensive, and time-consuming to monitor. Instead of spending time to pursue new revenue models, employee monitoring becomes a hindrance to complete other more significant responsibilities.

Technological deficiency.


At this day and age, workers scattered globally still function effectively as if they are all in just one physical space. Competitors surpass easily with the help of technologically laggard organizations . Advancement in technology makes a monumental difference when it comes to finding solutions to address weaknesses and lapses in an organisation. Worst, the physical well-being of its employees tends to harm if protocols and systems do not advance along with the times.

These are red flags that leadership should be on a lookout for. Don’t ignore these signals!

Instead, look for solutions that can address all three with the latest technology that comes in at an economical cost.

Acsys’ iAMS is an example of an all-around solution. By having a workforce management system and access points in place, Acsys makes it easier to connect to different work locations so employees are easier to monitor and manage. What matters is having company leaders and supervisors focus on strategy instead of the back-office, instead of worrying about the typical control on who, where, when, what, which asset, how long and by whom! Don’t be a statistic, save your company from losing billions of dollars by putting Acsys’ systems in place.