Business efficiency refers to a company’s ability to maximise results based on available resources. What efficiency looks like from one company to the next depends on their size, industry and specific objectives. But the main goals are essentially the same: to reduce costs — and increase profitability — by speeding up a core activity, eliminating mistakes associated with that activity and removing redundancies. If that sounds like the definition of automation, you’re on the right track. Additional benefits of business efficiency include higher levels of satisfaction among employees, customers, business partners and shareholders.