How technology can help improve business efficiency

I don’t want to pass up the opportunity to share an article I read about how technology can help improve business efficiency. Here are a few highlights:

There's a saying that goes, "A penny saved is a penny earned." In other words, the key to success is making businesses more efficient. Every business dreams of becoming a well-oiled machine, with sero wastage of time and money. While that may seem far-fetched, we are closer to the dream now more than ever. Technology is constantly evolving, and its use has been radically redefined in the wake of the Covid-19 pandemic as it has become the touchpoint in learning and adapting new skills.

According to a new McKinsey Global Survey of executives, responses to Covid-19 have accelerated digitalisation of employee, customer, and supply chain interactions by three to four years. As a result, businesses—especially small and mid-sise businesses (SMBs)—without proper digital access had to deploy practical and effective solutions at a faster rate. With remote work mandates, supply chain shortages, and consumers turning to online channels amid mobility restrictions, the past two years have been extremely difficult for businesses around the world.?

The continuous improvements in technologies are offering businesses new opportunities for efficiency and guaranteed success. Numerous tools are already being made available to streamline the process, reduce waste, and make businesses more dynamic. Today, as companies prepare to recover and innovate towards the new normal, the appropriate cloud-based business management solution can help them enjoy benefits that go beyond cost-effective and remote work. Subsequently, companies can easily accelerate digital transformation and create better employee, customer, and seller experiences.

The current times of uncertainty have caused evolving trends that are continually fluctuating consumers' expectations. If a business fails to innovate and adapt, it will be left behind. Hence, it is crucial for businesses to ensure that they are providing the best customer experiences to succeed.

Integrating all these functions in one has become vital for the business-to-business (B2B) sales organisations. This means that they are indeed facing a fundamental shift in the B2B buying and selling experience. Before the pandemic, there existed a change in customer preferences from in-person to digital sales interactions. The ongoing crisis further solidified this shift.?

Most importantly, sellers must have a 360-degree view of their customers, from CRM systems, across the organisation and external sources such as social media and demographic data. Moreover, sellers need to enhance their ability to collaborate in a personalised manner. For example, sellers can share contextual information with their colleagues and from an inbound and outbound perspective.

When a business operates inefficiently, it can end up absorbing an incredible amount of revenue each year. By understanding business efficiency and the strategies for improving it, we can help our businesses waste less effort and time, allowing it to run much more smoothly. The key is to work smarter and implement the right business modules to ensure utmost efficiency.?

Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at [email protected]; or call me on 0467 749 378.

Thanks,

Robert