Process mapping might sound quite vague to those that have never encountered this term before. However, it is much simpler than most of us expect it to be. In broad terms, process mapping refers to having a complicated process detailed – or mapped – in one way or another to have a better view on its individual steps.
The best part is that this particular skill can also help people get more information on how to trade better – while trading Forex, crypto, and so on – not only on running a business.
However, since this term is widely unknown, let’s take a closer look at it – namely, at eight of its hidden benefits!
Morale Boost and Team Involvement
Due to the very nature of process mapping, a lot of people need to be present in the room where this mapping takes place. As a result, the members of a certain team will be able to actively involve themselves in the mapping process.
This translates to empowerment and giving people a sense of satisfaction. Of course, this also means that the entire team working on process mapping will get a huge morale boost that will increase their productivity.
Analysis of Vague Problems
Process mapping takes every single point in a business and/or strategy and analyses it – even the smallest of its details. As such, problems can not only be properly identified but can also be separated into the categories of clear and vague problems.
This gives the management team the opportunity to analyze vague problems and, fortunately, remove their risks from a business plan, for example. On top of that, process mapping also allows people to visualize potential problems in real-life scenarios, making for better problem-solving.
Unfolds the Big Picture
If you take a plan or strategy and apply process mapping to it, you basically transpose it into a diagram that makes you see the big picture of everything that you have to deal with.
On top of that, it also allows those that have lesser knowledge about your plan/strategy to better understand it. This is thanks to the conciseness of process mapping. Last but not least, when a team is involved, this process helps them better understand what their role is in this big picture.
Auditing and Compliance
Naturally, this particular process will be of great help when you decide to run an audit or engage in compliance checkups. New compliance additions and procedures can be easily added into an already existing process mapping structure, so to speak.
Moreover, the effects of new compliance measures can be seen on the already created map. Obviously, things are much easier in terms of auditing, as the auditor will be able to freely and easily analyze the process map and draw conclusions based on it.
Basically, process mapping provides you with more control over the essential/important aspects of your business or company. Instead of waiting for the result of an audit, you’ll know exactly how certain areas of your business will perform under analysis.
Cut Down on Unnecessary Steps
We’ve already mentioned a couple of times how process mapping gives a clear view of all of the steps involved in a strategy or plan. This means, to say it again, that you can identify every step that contributes to the final goal.
Ultimately, this translates to you being able to eliminate the steps that consume resources for nothing – in short, the useless steps in your plan.
Usually, steps related to non-productive habits make their way into the process mapping diagram. If you’ve done everything right, you should be able to identify these prickly steps.
Training of Partners/Employee
New additions to your team of employees or partners can get a huge boost – within the company or business – if they can take a close look at the process mapping diagram.
Overall, it is well known that, if a new employee understands the entire process that their task is related to, they’ll perform much better. Not only that, they’ll learn their role, contributions, and responsibilities much faster.
The process mapping diagram should be an addition to any training program within your business/company.
Encourages the Best Practice
When mapping the gears that make your business work, you learn to analyze each step and improve it continuously – up until perfection. What does this mean? Naturally, this means that process mapping inherently pushes for the best practice – or way of doing things.
At the same time, process mapping can help you see which parts of your plan or team are performing well and which need a bit of improvement. In short, it keeps your entire company in check!
Leaving nothing to chance, the management team has the opportunity to increase the productivity coefficient of the entire company without making any drastic changes when it comes to the number of employees or deciding whether to keep certain branches open or not.
Documenting Tool
Last but not least, process mapping serves as a wonderful documenting tool that anyone can use to make their lives or business easier to manage. If you don’t remember something, you can easily take a look at the mapping diagram.
The same can be applied to any uncertainties or things that you forget about your process. Moreover, when you decide to create another mapping diagram, the presence of the last one prevents you from making the same mistakes again. Why?
Because everything is documented and can be easily identified!
The Bottom Line
Process mapping isn’t something that you hear about very often. Most modern business management teams don’t bother with something as tedious as working on a classic diagram.
However, this particular type of mapping can eventually save a company, plan, or business from bankruptcy. The sole fact that it promotes the constant improvement and the sharing of knowledge should be enough reason to implement it very early on.
In the end, before moving forward with your company, in an attempt to gain success, take your time to develop a process mapping diagram, no matter how old school this practice might sound!
