Digital technology is transforming how we all work in ways that are completely disruptive —and while it’s not likely that any of the following tactics will increase your productivity in ways that allows you to do the job of 100 people, it’s very likely that your company (and certainly your competitors) are taking very close look at them, and probably they’re already using them.

Embrace Technology for Inventory Management

What are the pain points?

Inventory management can be extremely labor-intensive. In many companies, it’s a manual process that requires someone to check products by hand against a paper document or, at best, an Excel spreadsheet. Not only is the process time-intensive, it also carries a high potential for human error. Beyond individual products, it’s also extremely labor-intensive to gather aggregate data for strategic planning and reporting. A costly and inefficient process.

How technology helps:

A digital inventory management solution delivers reduced labor costs as the result of far greater efficiency in the overall inventory management process. Errors are minimized, which in turn means a reduction in over stocking or lost sales which means additional cost savings. Beyond these very tangible benefits, companies using inventory management systems enjoy faster and more accurate access to data and an overall increase in organizational transparency. All in all, a big win.

7 Ways Businesses Can Embrace Technology

Embrace Technology for Social Media Management

What are the pain points?

Social media gets more complicated by the day as consumers embrace new platforms for sharing news, photos and recommendations. Companies need to do more to understand how their customers and potential customers are interacting in their online networks—they need to put into place systems for understanding how their products and services are being discussed, reaching out to those customers and being agile and responsive to interactions in real time.

How technology helps:

Setting up a social media profile and broadcasting general information isn’t enough anymore. Social media sentiment analysis tools can help a brand identify useful pieces of information amidst the flood of available data. Social media dashboards that empower a digital communications manager to monitor and respond to posts and conversations on multiple platforms can maximize worker efficiency while minimizing response time to online questions and conversations.

7 Ways Businesses Can Embrace Technology

Embrace Technology for Customer Relationship Management

 What are the pain points?

Customer relationship management is tough enough especially when you have a mix of customers. On the one hand, there’s a B2C relationship strategy; on the other hand, there’s a B2B strategy. Managing all the communications use cases and relationship flows can be very complex.

How technology helps:

Customer relationship management is not just sending emails. The word “relationship” suggests a two-way type of communication, as opposed to broadcasting sales messages via email, which is a one-way type of communication. A proper CRM system,working in conjunction with other internal systems, can empower a company to engage in meaningful conversations with its customers.

7 Ways Businesses Can Embrace Technology

Embrace Technology for Obtaining Competitive Intelligence

What are the pain points?

There is a ridiculous amount of data being generated  by media, consumers of media,  customers, potential customers, on companies web pages, on media websites and throughout the digital universe. It is a daunting task for a company to be able to sift through it all and find the kind of actionable intelligence that can help provide a competitive advantage.

How technology helps:

Imagine being able to examine the immeasurable amounts of content in competitors websites and develop a unique understanding of the dynamics of the marketplace. Retailers can automate the process of gathering competitor prices and so adjust their prices accordingly. These are just two of many ways in which technology allows companies to embrace and leverage big data as a strategic advantage. If big data isn’t part of your overall business strategy, it needs to be.

7 Ways Businesses Can Embrace Technology

Embrace Technology for Maximum Worker Productivity

What are the pain points?

Think about a customer calling your company to request a price for a service, or a series of services and available delivery dates. Instead of providing a prompt reply, staff send e-mails and file attachments to other departments and then check the latest price lists and availability dates. Someone can spend their entire work day managing the customer request process.

How technology helps:

A solution like the Holistic Business Advantage Suite can help by providing a workflow whereby the customer can check online about prices and availability dates without needing to contact any staff member. To have the customer facing systems properly updated, proper internal collaboration and Management Information Systems tools must be in place and easily maintainable. What used to be a very complex process is now automated and simpler. Everyone wins—including (and especially) your bottom line.

7 Ways Businesses Can Embrace Technology

Embrace Technology for Decision Making

What are the pain points?

Whenever we need information we go to search engines and find that data rather easily. However when we need to search information about our company , in most cases, we need to ask various departments to collate that data for us manually. The process could take days if not weeks and will also be prone to user errors and definitely not in real time.

How technology helps:

A BI solution would help to collect and analyze data from various data sources and present real-time interactive dashboards. Companies are sitting on a gold mine of data both in structured and unstructured formats. Being able to mine that data will help the company make informed decisions rapidly and have a competitive edge over competitors.

7 Ways Businesses Can Embrace Technology

Embrace Technology for Training

What are the pain points?

IT systems are as good as people’s knowledge on how to use them. Untrained staff will not make the best use of the systems available.

How technology helps:

Continuous training, through latest technological innovations, will ensure that staff understand the business processes that the system covers and also how to make the best use of such systems.

7 Ways Businesses Can Embrace Technology

Automating our business processes is the only way we can remain ahead of our competitors, or rather remain into existence as a business. The tools which were once designed for complex companies are now affordable and available to any size or nature of business.