We live in the digital age, and companies who take the time and money to invest in new technology will always have the edge over those who don't.
Although implementing new technology may seem like a big undertaking, the business efficiency gains you make from it are worth the effort. According to a report by O2 Business and the Centre for Economic and Business Research, by 2020, technology is expected to increase workplace productivity by 2.5 per cent a year.
What are the best technologies to help improve your business' performance?
1) Enterprise planning software
Integrated enterprise planning software can take care of many aspects of your business. Technology such as Microsoft Dynamics can record information at point of sale, send that to your accounting software, update warehouse inventories and make new orders, all in real time, and all automatically. Knowing that the basics are taken care of will leave you more time to focus on the important aspects of your business.
2) Data management software
Almost everything gets recorded in the digital age, and that means many businesses will have more data than they know what to do with. However, if you can find a way of reviewing this information it could help you gather valuable insight to make better decisions.
For example, customer purchase records, search histories, email correspondences... this information could actually give you a lot of insights into your customer base. There is now a range of data management software out there that enables you to draw together and search through your siloed information - a worthy investment for anyone wanting to improve their service offering.
These technologies normally include search tools to find what you're looking for much more easily than if it's spread across multiple systems and locations, meaning you don't have to spend hours trying to find that all important document.
Flexibility in the workplace is no longer a luxury - it's now expected. According to the Australian Bureau of Statistics, nearly a third of Australians regularly work from home. While the benefits of a flexible workplace are numerous, it's also important that employees are still able to collaborate on projects, even when they are working remotely.
Business collaboration tools such as Jives are therefore essential in improving business efficiency. By getting rid of the back and forth, software like Jives allow employees to discuss and make changes to a project in real time using a shared screen that can be accessed anywhere.
These are just three of many areas of your company that can be enhanced by technology and software uptake. Contact Alpin Advisory today to find out more about how we can improve your business performance and help you achieve your goals.