Table of Content
- 1. Leverage Technology to Learn New Skills
- 2. Integrate Technology in Operations
- 3. Create Ease of Communication
- 4. Plan Your Finances
- 5. Revamp Your Customer Service Experience
- 6. Beneficial Technological Innovations Today
- 7. Takeaway
The start of a new decade brought along some massive changes. Businesses around the world had to bear heavy losses. If you are someone who owns a small business, you were likely on the verge of giving up during early 2021. But there were some businesses that not only sustained but thrived during the pandemic.
So what is it that they did differently? While some businesses shifted their focus area to the online marketplace, others went on to start a new culture of work from home.
The driving forces for these changes were modern technological advancements. A growing business is always looking for ways to advance its strategies and capture the emerging trends in the market. Leveraging technology is the easiest way to do so. From office management to customer service, there is nothing that can’t be done with a click on your computer.
In this article, we will talk about how you can use these modern technologies for growing your business.
1. Leverage Technology to Learn New Skills
The most important factor for growing a business today is upgrading yourself with new technology and skills regularly. Small business holders need to utilize operational software like Excel, Adobe, Microsoft etc for saving time and manpower spent on daily tasks.
People also ask if improving their soft skills can help their business grow. It of course streamlines your collaboration with other brands and communication with prospective clients.
Good thing is that we have the technology to help us learn these skills easily, from the comfort of our homes, at our convenient timings. Many professional training institutes specialize in equipping people with these technical skills to advance their careers or business like Acuity Training who introduced classroom based training in addition to remote training.
2. Integrate Technology in Operations
Modern technologies can create a more organized and more efficient flow of business. Take, for example, the easiest of them all, Excel. Using Excel can help in performing data analysis for understanding the problems that a company is facing.
Other modern technological features like AI can save time spent by employees on repetitive tasks. It automates the daily monotonous operations so that the employees can focus on higher-value work.
Saving time on daily operations increases the productivity of a business. Further, tools like digital dictation, time management apps and inventory software can streamline the workflow of businesses efficiently.
3. Create Ease of Communication
Interactive businesses that have seamless communication with their employees, as well as the customers are gaining ground over their competitors. Some ways you can use technology in business communication are:
You can use modern innovations to get valuable feedback from customers through online surveys, newsletters, and feedback forms. This could be used to improve your product or service.
You can reach out to new clients by creating organic content on social media websites. Apps like Messenger and Whatsapp are being increasingly used to connect with potential clients.
Better communications between employees create a better flow of ideas and plans. With remote working conditions on the rise, it has become imperative to use technology to remain connected.
There are SaaS programs and software applications used by companies that allow for seamless interaction, screen sharing, and data transfer between employees. With video conferencing apps like Zoom, employees sitting in two different countries can communicate easily.
The use of centralized cloud services can also save time spent on emailing information to each employee separately.
4. Plan Your Finances
Accounting software for small businesses has made bookkeeping very easy. This helps businesses analyze their financial plans and make better strategies for growth.
Filing taxes online has proved to be a time-saving boon for businesses. The software could be used for making sales forecasts and income projections now.
Online invoicing software services have also helped businesses decrease their wasteful spending of manpower and time.
Technology can be harvested to do competitive analysis to frame better financial plans for the company. Gain some hands-on experience in these software technologies to make your business processes more efficient.
5. Revamp Your Customer Service Experience
A business that shows concern for its customers is valued more. With the latest tech on your side, your customer service can become more organized. Virtual assistants can make feedback mechanisms smoother. This will result in better planning for your products or services. Further, data analytics could be used to study customer data and analyze their preferences for smoother customer service delivery.
ERP (enterprise resource planning) software helps in managing accounting, sales, and human resources while CRM (customer relations management) software helps improve customer support. The integration of these two systems into one can help you optimize operations and provide better customer services.
6. Beneficial Technological Innovations Today
The last decade saw the rise of three powerful technologies that changed the way business is done throughout the World. Let’s see how these three can be used in a mild capacity to drive growth.
The Wonder That Is Cloud Computing
If you are someone who struggles with multi-tasking, cloud computing comes to the rescue. Solutions such as Zoho are a one-stop center for all your collaboration, finance, and marketing needs. Think of accessing your business from anywhere, anytime, and with any device. This would save time and money. Clouds also provide excellent security and backup options.
Big Data to the Rescue
Think of how when you want to buy a watch and search for it online, the next day Google starts recommending where you can buy that watch from. This is just an example of how data analysts analyze large amounts of data to filter out content, understand their product market and promote their business. This technology has revolutionized business growth and if you are someone who can afford to invest in it; it will give you long-term returns.
Artificial Intelligence to Reduce Costs
In simple language, artificial intelligence is the ability of a computer to do work that only a human could do. We are giving the system instructions on how to do a process and AI performs this work free of any errors. AI can transform your customer support services. For example, chatbots used by companies on their websites work at a lower cost than humans and are even faster than them. From operations to sales, you can save a lot of time and money spent on repetitive tasks through AI.
Technology can be harnessed smartly to plan and execute business strategies. They not only raise business productivity but also help deliver better customer service. Modern innovations can uncomplicate the technical part of the work to a great extent. Technological innovations like big data, cloud computing and AI have brought a revolution in the business world. Leveraging these technologies can help businesses grow exponentially.