32 views

How to Reduce Company Costs by Improving Workflow and Current Business Processes

Dariga Tokpayeva
senior manager and heads the Tax and Legal Department legal practice in Nur-Sultan

In this article we would like to share our experience in improving workflow and business processes in HR management, procurements, and the supply of goods. We have developed process improvement and automation options that significantly reduce the quantity of internal documents and simplify signing procedures, accordingly, reducing the burden on company staff, freeing them up to work on other things.

Optimisation: how does it happen?

The first stage involves analysing current internal HR management, procurement and supply documents to determine whether the volume of statutory documents can be reduced. One options for doing this, if possible and justified, is to incorporate their content in other internal documents. An analysis, generally speaking and given best global corporate work flow practices, allows us to exclude several documents.

No less important is analysing current corporate business processes. Best business practices show that the number of business processes can be reduced significantly by removing any surplus documents and after a detailed study of hard copy storage and archiving requirements for each document.

How can cutting document volume help reduce company costs?

Company costs fall as the number of people previously needed for various internal signing procedures diminishes. For example, an HR member would previously be responsible solely for agreeing vacations, overtime, weekend and public holiday work, and other similar processes. After optimisation, he or she receives an already approved document only if it has to be printed out or stored in hard copy. In other cases, the HR official is only involved when required by law or based on workflow best practices.

Are optimisation-related corruption risk analyses viable in the implementation of anti-corruption compliance systems and one to protect personal data?

Given recent statutory requirements to implement anti-corruption compliance, and in light of the applicability of General Data Protection Regulations to company activities, we recommend performing a simultaneous workflow and business process analysis for compliance with anti-corruption standards and personal data protection requirements, an important part of which would be to look at:

─    controls over the relevant business processes,
─    current internal company policies, including codes of ethics,
─    internal documents defining the authority and duties of officials and interested parties to eliminate/reduce corruption risks and protect personal data,
─    current risk response instructions.

The above analysis would be used to provide recommendations on how to update document volume and content, business processes, their controls, internal documents and others. Employee training can be organised, if needed.

Conclusion

Optimising workflow, business processes and their controls in good time will help reduce company costs; standardise internal processes and improve transparency. It will also help companies make further strategic decisions on promoting and scaling their businesses both in Kazakhstan, in the CIS and overseas.
 

Dilbara Kozhamkulova

Overview of Trust in Astana International Financial Centre (AIFC)

The AIFC, since its launch in 2018, positioning itself as a global centre for business and finance in Kazakhstan and Central Asia, has been expanding its legal framework to offer new organisational legal forms for doing business in Kazakhstan in addition to already existing forms as public/private companies and partnerships. As such, local companies and investors have welcomed the AIFC’s involvement in the local business community as it provides access to corporate forms that hereto had not been available in Kazakhstan, but are usual in common law countries.


Дильбара Кожамкулова

Обзор траста в Международном финансовом центре «Астана»

С момента своего запуска в 2018 году Международный финансовый центр «Астана» (МФЦА), позиционируя себя как глобальный центр для бизнеса и финансов в Казахстане и Центральной Азии, расширяет свою правовую базу и предлагает новые организационно-правовые формы для ведения бизнеса в Казахстане в дополнение к уже существующим формам публичных/частных компаний и товариществ.


Әзімхан Сатыбалдин

Кедейлікпен күрес мемлекет үшін де, бизнес үшін де қажет

2020 жылдың қорытындысы бойынша, бізде кедейлікке ұшырау деңгейі артып келе жатқаны байқалатыны анықталды. Өткен жылдың төртінші тоқсан нәтижесіне сәйкес, төменгі күнкөріс деңгейінен де аз табыс табатындар саны 12 пайызға өсіпті. Бұл күні кеше байқалған тенденция емес. Жыл өткен сайын көтеріліп келе жатқанын көріп отырмыз. Осы ретте Білім және ғылым министрлігі Ғылым комитетінің «Экономика институты» РМҚК директоры, экономика ғылымдарының докторы, профессор, ҚР ҰҒА академигі Әзімхан Сатыбалдинмен сұхбаттасып, кедейлік мәселесін кеңінен қарастырдық.   


Дарига Токпаева

Как снизить затраты компании путем оптимизации документооборота и текущих бизнес-процессов

Мы хотим поделиться своим опытом по оптимизации текущего документооборота и бизнес-процессов в области кадрового администрирования, закупок, а также поставок товаров компании. Мы разработали варианты оптимизации и автоматизации процессов, которые позволяют существенно сократить количество внутренних документов, текущих процедур для сотрудников компании по подписанию этих документов и, соответственно, снизить нагрузку на персонал компании, высвобождая его возможности для реализации других проектов.


Елдар Шакенов

Как инвестору защититься от инфляции

В финансовых кругах много говорят об инфляции. Федеральная резервная система (ФРС) хочет стимулировать умеренный рост инфляции и удерживает процентные ставки на низком уровне до тех пор, пока это не произойдет. В это время инвесторы ожидают, что отложенный спрос, связанный с пандемическим образом жизни, может вызвать внезапный рост расходов, когда COVID-19 будет взят под контроль. Этот приток денег в экономику вызовет рост цен, что потенциально может привести к инфляции выше целевого показателя ФРС, составляющего чуть более 2%.