TECHNOPRENEURSHI P2 - Bachelor of Science in Entrepreneurship PDF

TECHNOPRENEURSHI P2 Bachelor of Science in Entrepreneurship – Third Year SONNYLEN G. REQUILLAS, MBA Course Professor, Entrep 22D EntrepD, BU Polangui INTRODUCTI ON TO BACK END OPERATION S OVERVIEW OF BACK END OPERATIONS IN BU...

TECHNOPRENEURSHI P2 Bachelor of Science in Entrepreneurship – Third Year SONNYLEN G. REQUILLAS, MBA Course Professor, Entrep 22D EntrepD, BU Polangui INTRODUCTI ON TO BACK END OPERATION S OVERVIEW OF BACK END OPERATIONS IN BUSINESS Back-end operations refer to the internal processes and systems that support the delivery of a business's products or services. Backend operations handle all the behind-the-scenes Back end operations are the tasks, from managing data behind-the scenes activities to making sure all the that ensure efficiency, internal functions are accuracy, and customer working correctly. satisfaction. Importance of the Back End Operations Allows the company to focus on its core competencies and servicing their customers Help companies keep their promises to customers for accurate and timely delivery of goods and services  REVENUE GENERATING  SUPPORT THE FRONT END OPERATION  COST CENTER  TRADITIONAL OR MODERN  Traditional Back End Operations paper pusher of the organization work was manual, tedious, time- consuming, and error- prone non digital/automated means of tracking work Constantly in reactive state Functions of Back End Operations Traditional ADMINISTRATIVE CUSTOMER SUPPORT Human Resources Order fulfillment IT/ Data Management Transaction processing Legal Document preparation Compliance/Fraud/Risk Account Maintenance Management Procurement Client Services Finance and Accounting Dispute resolution Functions of Back End Operations (Cont’n.) Industry-specific back-office functions Claims Processing and Underwriting Loans, mortgage operations Credit Card processing Field servicing operations MODERN (TECHNOLOGY BASED) BACK END OPERATIONS still a lot of paper-pushing and processing performed more and more simple tasks are automated what remains is even more complex work items and exception handling the lines between front-office and back-office solutions are starting to blur back-office employees seeing an increase in activities that involve contacting or responding to customers directly Importance of Technology in Enhancing Operational Efficiency What is Operational Efficiency?  It is about “doing more with less”  It involves optimizing various aspects of business operations –-- from reducing human error to enhancing team member productivity  Key Performance Indicators (KPIs) play a crucial role in measuring these efficiencies, providing data-driven insights into where improvements are needed. Importance of Technology in Enhancing Operational Efficiency Technology is a key enabler of operational efficiency in business strategically integrating management software, automation tools, and digital platforms, startups can significantly improve their operational workflows, productivity, and scalability improving operational efficiency is not just a goal; it's a necessity for survival and success in business operations offering innovative solutions to streamline processes, reduce costs, and enhance customer satisfaction