To what extent is your firm tech-savvy?
Being tech-savvy is not just limited to maintaining records on a computer anymore. Technological advancement is accelerating at an unbelievable rate, making business processes more efficient in terms of cost, time, and effort. Constant innovation in hardware, software, network, and the whole digital infrastructure, is quite overwhelming!
But what happens if you don’t adopt the latest technological tools and practices? A lag in technological adaptation is no longer just a concern for businesses now; it’s a crisis. Why? Because slow or non-existent tech adoption now means giving others a significant competitive advantage over you!
How can you transform your firm technologically? Well, you first need to determine which technological elements will gel in perfectly with your system and prove to be of optimal use to you. Further, you have to figure out how to plan, sequence, invest, design, and engage your firm in this modernization process.
Scroll down to see how you can revamp your business with the latest technological breakthroughs!
Automation is the use of different machines, software, techniques, and processes to perform repetitive and dangerous tasks with minimal human interference. There are two basic benefits of automation to every business:
- It reduces the need for labor
- It enhances efficiency, output, and speed of the workflow
You can implement automation in almost every business process, stage, and industry. It is currently revolutionizing a variety of domains like manufacturing, transport, utilities, defense, facilities, operations, and lately, information technology.
Here are a few examples of how automation can assist you:
Network automation – Building and maintaining computer networks is not only complicated but also time-consuming. However, software like SolarWinds Network Configuration Manager (NCM) and BlueCat DNS Integrity can automate the configuration, management, and operations of your computer network.
Office automation – An office entails numerous repetitive tasks like answering calls, scheduling meetings, entering data, maintaining books, and managing emails. Numerous applications and software are now available in the market that can digitize, store, process, and communicate on your behalf.
Automated website testing – Websites are in great demand right now! But it takes a lot of time to first develop and then test a website for configuration changes. But why not cut down the burden of testing from your shoulders completely? Let automated website testers do their jobs of standardizing website testing parameters.
What’s the biggest competitive advantage for a business in this digital era? Information.
Earlier it was difficult to collect a large amount of data and then draw conclusions from it. Now we have specialized systems and software that assist in both data collection and interpretation.
What kind of information are we talking about?
Crucial data for every business includes customer demographics, engagement data like how customers interact with them on their website, social media, and other forums, behavioral data including purchase histories, and product usage information. Moreover, businesses also seek attitudinal data of their customers like consumer satisfaction, purchase criteria, and product desirability.
But how does this data help?
Well, a business needs to know all about its customers and competitors to make informed decisions. Also, this data helps businesses to personalize their content for customers, improve their advertising campaigns, and serve their customers better.
How does modern technology make data collection and analysis so powerful?
There are data management tools to help you manage the inflow and outflow of data into your systems. Then you have machine learning (a subset of Artificial Intelligence) that takes in data and predicts outcomes without explicit programming.
Other useful techniques to help businesses with data are include data mining and predictive analysis tools. Data mining tools contribute to sorting out data to form patterns and relationships between data points. Predictive analysis analyzes large amounts of historical data to predict future outcomes.
Productivity refers to the amount of output you can produce with the amount of input you invest. Management and employees both need to be productive for a business to survive in today’s intensely competitive environment.
There are numerous factors that influence the level of productivity at the workplace. The major areas of productivity include time management, organization, and effective communication. Improving workplace productivity requires optimizing procedures, workplace layouts, and employee performance.
Fortunately, the market is filled with effective applications and software dedicated to promoting workplace productivity. Some of the best options for businesses are as follows:
- Project Management Apps like Trello and Asana
- Scheduling Apps like Setmore and SimplyBook
- Time Management Apps like Rescue Time and Focus Keeper
Customer Relationship Management (CRM)
Aren’t customers the ultimate life of every business?
Nothing can save a business if customers are not satisfied with its products and services. That is why businesses invest huge amounts in gaining and retaining customers. There is a lot of emphasis on customer satisfaction currently because they do not just want products now; they want a full cumulative experience.
Thanks to technology, it is now possible for businesses to organize, automate, and synchronize every aspect of customer interaction. In fact, ‘Customer Relationship Management’ is a whole new term for the kind of technology designed to handle existing and potential customers.
The major elements under the umbrella of CRM are marketing, sales, and customer service & support. CRM software like Salesforce, Zoho, and HubSpot enable you to track sales and leads, provide online support to customers, schedule appointments, and conduct surveys and questionnaires to get customer feedback.
Technology is so infused into the business world that no firm can survive without it now.
New digital technologies have completely transformed the way businesses operate today. With technological horizons expanding rapidly, all machines, software, and applications turn obsolete within a short span of time. Hence, businesses have to keep themselves updated with the latest tools and techniques to stay in the competition.
I talked about some of the crucial technological approaches for business growth in this blog. Other tried and tested technological developments lie in simplifying IT architecture, integrating with third-party systems, and investing in cybersecurity tools.
Linda Hartley is a digital marketing manager at Appstirr, who loves to write content on the latest topics, including Blockchain, B2B business models, application development and much more.