Each has already moved beyond seat-of-the-pants management to more professional operating procedures. What does it mean?

Guess work Vs Planned procedure

Its just trying to be shown as more professional,

This is intuition and experience more than what is written solid plans/procedures .. It comes with time, experience and knowledge of the system/environment we deal with, and as a sign of increasing self-confidence of being able to make or reach the right decision/action

To go off the seat of their pants is in an unorganized fashion, usually associated with less experience, worry in work environment to survive, or at least allow their business to survive. In regards to management, it refers to making the rules on the spot. 

To develop into a professional operating system is to create a business plan or, as suggested, strategy that has worked to maintain the company's regulations and goals. To suggest a system also infers that should something fail, it can be fixed by another sector, as it is all interdependant and working to advance all aspects of the business. 

The concept can be related to making a table. Without taking experience into account, to make it off the seat of your pants would be like making the table without instructions or suggestions on tools. However, with a professional operating procedure, say a manual with pictures, time and energy are utilized in your best interest...at least that is what is suggested.

WHEN THERE IS POST OF ARINJAY,,, I PREFER NOT TO COMMENT ,,, ALWAYS AGREED WITH HIS VIEW POINT,,, SOLD

it means showing more efficiency,timely managed and professional

I do agree with all the answers given by Mr.:Mohammed thiab, Mr.: Zafar & Mr.:Arinjay

TOO