Like every other business, the COVID crisis will have forced you to make significant cutbacks and extract every bit of productivity from your business. But with the worst behind us now (hopefully!), the big question facing every company now is how to grow & expand in this new post-covid-19 world. Scaling a business is necessary, and doing so without hiring a large number of people is the new challenge.
Technology has always been treated as a replacement for humans, but this is more evident now than ever before. But I am not talking about deploying robots right away; not every business needs or can afford to do that. Instead, it is easier to streamline the everyday operations using ready-to integrate business technology wherever possible. The goal here is to improve efficiency, intelligence, and process flow so that you and your staff can focus on the business's more profitable side. We break down your business's technology transition into three sections: Accessibility, Visibility, & Intelligence.
Today's business world is all about connectivity. And it doesn't just refer to how you connect with the outside world but within your enterprise. Every part of your business impacts the other one, so it is critical to establish seamless communication between all the dynamic sections, right from production to the customer. You do not need a bulky ERP (Enterprise resource planning) system to achieve that. An enterprise mobile app can be used for external as well as internal communication. An app can serve a dual purpose as a customer-facing solution and as internal communications and data sharing channel.
Moreover, this also helps you eliminate the shackles associated with an on-premise ERP system and allows your workers to work remotely without causing any security concerns while improving overall customer engagement with your brand. This massively enhances your preparedness for another crisis or situation like COVID 19. The added advantage is that mobile app development is pretty affordable, and you can scale its functionalities as your business grows.
Every business generates data. This data can be created from customer interactions, everyday workflow, etc. Underutilization of this data is the primary cause of low efficiency and higher operational costs.
You can discover new synergies for improvement by combining manufacturing, supply chain, financial, sales, and even external data to drive higher profitability, improve collaboration, and eliminate hidden costs. Collecting and storing this data is critical and is the first step towards gaining a 360-degree view of your entire business. For this, you can easily opt for a Data Management Service that can offer you an on-premise and cloud solution to store data or choose an economic Business Intelligence strategy that I will explain later.
Strategic planning is crucial for your business, and data analytics plays a vital role in it by giving you a real-time overview of your business. Data analytics isn't just for large enterprises as new technology breaks down the barriers for small businesses.
With deeper insights gained from data analytics, you can learn:
- how to streamline and keep track of your business processes and understand the cause for any operational delay
- how the customers are coming across your products or services and what is luring them in
- How you can improve your product/service to enhance the customer experience while not affecting the cost
- How to efficiently utilize your human as well as capital resources.
All this is achievable with Business intelligence, including data collection, storage, analysis, and visualization. An effective and economical business intelligence strategy can provide you invaluable, real-time insight into your business and help you create the right approach for your product inventory, operations, and marketing. You also gain the ability to share the insights throughout your organization by integrating BI tools with your company app, creating a sustainable growth structure for each department and overall business.
Technology can empower your organization, help you improve efficiencies, and even expand operations. But to use that technology well, you must balance your needs with the realities of how you do business. That means understanding which technology to invest in and how it will affect your operations while maximizing your returns on that investment.