There are many compelling reasons why technology should be at the forefront of your growth strategy, and why it should be a pillar of all of your business operations. Some of these reasons include reduced costs and greater financial savings, reduced labor and higher productivity, as well as better efficiency and output in numerous departments like sales, marketing, PR, HR, and customer service.
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While you might feel inclined to outsource certain menial and crucial tasks to agencies and freelancers first, perhaps a more prudent idea would be to determine which processes you can make easier or even automate completely with technology in order to minimize expenses across the board. Today, we are taking a look at the best and most cost-effective technologies you can invest in, and how they can help your company thrive in the competitive market.
Start with predictive analytics
Success in the modern business world depends heavily on information, or rather, your ability to collect, collate, and transform relevant industry information into actionable reports that you can use to set feasible goals and tactics to achieve them. Nowadays, though, manually collecting all of the industry information you need is not only a cumbersome task that requires you to invest in an entire team of professionals, but it’s also a drain on numerous resources, particularly money. That’s why your first priority should be to invest in AI-driven big data analytics.
Artificial intelligence and machine learning are making it possible for companies of all sizes to compete on a global scale, simply because of the vast computing power that these technologies bring to the table, and how they make data collection and organization efficient and effective. You can use big data to stay on top of all relevant industry trends, but more importantly, you can use it to make accurate forecasts and act proactively to always stay one step ahead.
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Automate certain processes
Another great benefit of modern technology is that it allows business leaders to automate numerous processes across the company, or at the very least partially automate some of them to lessen the workload, and help human employees focus on other, more pressing matters. In this modern-day and age, you can introduce this technology into numerous sectors across your company in the form of software and hardware automation.
From payroll and invoicing, data storage and upkeep, emails, reminders and schedules, sales funnels, menial marketing tasks, all the way to remarketing and customer service, automating these and many other tasks will help you streamline your processes, cut costs and time wasted, and just keep your employees happy. What’s more, making these tasks more efficient will directly improve your bottom line, so it’s really a win-win situation.
Stabilize your internet connection
One of the most cumbersome challenges that businesses struggle with to this very day is the problem of an unstable internet connection. Every business process nowadays is done over the web, at least in part if not completely, and every moment that your employees can’t establish a connection or every minute that you allow your system to remain offline is just pouring potential revenue down the drain.
This is why business leaders are increasingly reassessing their old internet contracts and choosing better providers such as Orange that have specialized packages for companies looking to ensure a fast 4G internet connection at all times for all of their employees, and thus ensure that everyone gets internet connection important email and makes it to that group video call no matter where they are. With that in mind, be sure to check if your internet plan fits your current and future needs, and upgrade as necessary.
Improve customer service
Your customer service department is the backbone of your company. The modern customer needs and wants to communicate with their favorite brands, and that means that growth-oriented companies need to make themselves readily available at all times across all communication channels.
Needless to say, though, this can be a costly task. Instead of hiring new customer service agents, invest in AI-driven chatbot technology to resolve repetitive tasks and answer common customer questions quickly. This will also let your support staff focus on the more complex issues.
Leverage the IoT technology
Lastly, be sure to leverage office-wide connectivity to achieve better efficiency and productivity across all departments. The Internet of Things brings many empowering features to modern business, and it allows you to reduce costs and downtime, improve employee productivity, reduce waste and monitor your assets, and improve customer experience through more potent data acquisition and analytics. Simply put, connecting all of your software and hardware will help you take your company into the 21st century.
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Technology is transforming the way we do business, and when used right, it can help a growth-oriented company to stand out and surpass its competitors. With these technologies at your side, you should have no problem pushing your brand forward with minimal risk, all the while setting the stage for international expansion in the months to come.