“Productivity is never an accident. It is always the result of a commitment to excellence, planning, and efforts.” -Paul J Meyer.
In the initial stages of entrepreneurship, SMEs often juggle between using limited resources and firm growth. The emerging economic changes- pandemic, inflation, and high-interest rates, pose further challenges to these firms, affecting their productivity.
It makes it taxing for firms to unlock their full potential and take a leap over the industry competitors. Making small business owners ponder on- Is there any measure to overcome all the challenges and elevate the business efficiency?
Are you wondering the same? If yes, you’ve come to the right place.
Leveraging new technologies can assist in overcoming potential business hitches and boosting productivity. In this article, we’ll discuss different technologies and solutions you must deploy for the firm’s growth. So, let’s cut to the chase.
Integrate Business Process Automation
The first thought that comes to entrepreneurs’ minds when they hear the term automation is- expensive. If your thoughts are the same, you are wrong. Due to the advancement in technology, implementing automation in your organization is now easier than before.
You can find business process automation (BPA) tools and software that saves time, costs, effort, and manpower. In fact, according to statistics, the CAGR (Compound Annual Growth Rate) of the BPA industry is 13.3% and is expected to touch the mark of 12 billion dollars in the next three years.
Studies have also shown that 30% of corporate activities can be easily automated in around 60% of organizations worldwide. So, your business, irrespective of its size or industry, can automate numerous tasks, particularly repetitive manual work and time-sensitive tasks. For instance, order placing, inventory management, appointment scheduling, email response, and customer support are some common tasks that can be automated.
It will empower your employees to use their skills for other crucial operations and enhance overall corporate efficiency.
Adopt Data Catalog
Did you know that during 2021, people created 2.5 quintillion bytes of data every day? It is estimated that over 200 zettabytes of data will be secured on cloud storage worldwide by 2025.
As people are relying on the data, it provides businesses an opportunity to draw meaningful conclusions and facilitate their operations. However, collecting, storing, and analyzing data is extremely tricky. Fortunately, adopting Data Catalog aids in deriving value from the available data. It enables you to perform different analyses to improve the business strategy and boost efficiency.
Not to mention, it will save you time as all the required data is stored on a single platform. This makes it easier for businesses to turn into data-driven enterprises. Moreover, with data-driven decisions, employees will know what to do to achieve the set goals and eliminate potential risks.
Leverage Smartphones And The Internet
Long gone are the days when the purpose of mobile was limited to communication via calls or chats. Now, mobile devices have turned into smartphones, facilitating nearly every task that employees can perform on a PC. Internet applications and other programs in a smartphone ensure that employees can easily attend to pressing work-related concerns.
Despite that, having a smartphone is not enough. As an employer and business owner, you need to ensure that your staff has access to high-speed internet or a reliable network. Believe it or not, it will speed up the task-completion process, which will eventually lead to productivity.
Note: When providing access to a high-speed internet network, educate your employees about network safety. Many firms are exposed to malware and ransom attacks due to unsecure or poor networks. Training your employees about the same will ensure that they stay vigilant whenever using the internet for their work (which is almost all the time).
Deploy Cloud-Based Connectivity Systems
Businesses nowadays follow flexible working models, i.e., work-from-home or hybrid models. Studies have shown that these models boost employee productivity as they work in less stressful environments. It improves creativity and encourages them to present new ideas to the organization.
However, effective employee connectivity becomes a challenge for businesses. Fortunately, using cloud-based unified communications and collaboration systems allows employees to stay connected in centralized and distributed locations.
For instance, an auto attendant feature ensures that all the calls on desktop phones and mobiles are answered. As a result, your employees will not miss out on any critical detail or information, especially when they are on a break or commuting.
Create Different Back Ups
Last but not least, you must have a backup of business operations. It will ensure that you can use the backups to mitigate the risks and strengthen the business operations in case of an emergency or business crisis. Let’s take an example to understand better how to back up aid the employees.
Employee work is often hindered by slow internet or power outages. These are unexpected circumstances, so there is a high chance that employee productivity will be hampered, especially if they perform their tasks using digital tools. Having the backup of tasks will ensure they perform the task manually from where they left off.
It is noteworthy that here backup is not limited to the data or information. Instead, you can use solutions that provide LTE internet backup so your employees stay online and available even when power is gone.
Likewise, you can upgrade the operating systems of your devices to ensure automatic backup after regular intervals. In scenarios where you can’t access the original file for any particular reason, you can use the backup.
Nevertheless, make sure that access to critical backup life is limited to authorized users. Use two or multifactor authentication to safeguard the information from potential threats. Further, train your team about safe data backup.
To Sum It All Up
The economic conditions in this era are highly unpredictable. That’s why businesses, especially small and new firms, need to use technology to stay ahead of the industry. Every technology discussed in this article will play a significant role in boosting business productivity, identifying potential industry trends, and implementing data-driven decisions. So, if you haven’t used any of these tools and solutions, the time is now!