The Value of Standard Operating Procedures for Small Businesses | IMA (sfmagazine.com)
@Renata Serban and @Ilya Ilienko wrote and published the following for Strategic Finance
Renata Serban, CPA, CMA | LinkedIn Ilya (ilya ilienko) Ilienko, dual MBA, CPA, CMA | LinkedIn
Tiny glimpse:
The Value of Standard Operating Procedures (SOPs) for Small Businesses. SOPs are pivotal for small businesses, providing structured guidelines to standardize processes, enhance efficiency, and facilitate employee training. By documenting workflows and procedures, SOPs reduce errors, save time, and maintain product or service quality. They also play a vital role in ensuring compliance with regulatory standards and mitigating risks associated with audits or inspections. SOPs are applicable across various industries such as healthcare, food and bev, and financial institutions, SOPs are vital for ensuring compliance with industry regulations. SOPs can be simple and straightforward, or very technical and complex.
Key takeaways:
· SOPs streamline operations, reduce errors and save time.
· They aid in ensuring compliance with regulatory standards.
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Ilya Ilienko, dual MBA, CPA, CMA
Board Member / Director
East Coast - United States
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