The adoption of new technologies is happening lighting speed. From cloud technologies to artificial intelligence, technological change impacts your business activity in multiple ways.
With the right tools, you can improve employee communication, automate repetitive tasks, and boost customer experiences.
Impact of Technological Change on Business Activity
Here are a few benefits of technology on your business operations.
Enhancing Communication and Collaboration
Advanced team collaboration tools improve day-to-day business communications between team members. They do not need to rely on formal communication channels, such as emails or spreadsheets.
One such example is instant-messaging tools. Slack, for example, lets employees share files and communicate in real-time. They can even create specific channels based on projects or topics.
Project management tools, such as Basecamp or Asana, let project managers create new projects and assign tasks in real-time. Instead of keeping track of overwhelming email threads, employees can stay on top of relevant projects, clients, and communications. That is how they can manage their time more effectively and prioritize urgent assignments.
Automating Administrative Tasks
Menial and repetitive tasks can compromise employee productivity. Fortunately, you can automate most of them.
One such example is accounting and bookkeeping. For instance, managing invoices on paper is error-prone and time-consuming. When you have lots of repeat purchases, it may be challenging to create and track paper invoices every time a client buys from you. With accounting tools, you can create recurring profiles for repeat customers and schedule invoices to be sent out automatically every time a purchase is made. You can also include payment terms, set up reminders, and determine expected payment dates.
Digital accounting solutions also let you issue digital checks, create online payment gateways, track expenses, and manage your inventory.
Encouraging Remote Work
Remote work has gained momentum over the past few years. According to research studies, 96% of employees want some form of remote work. While 65% of workers want to be full-time remote employees, 31% expect employers to offer hybrid workplaces.
That is particularly true today, amid the Coronavirus pandemic. Last year, many companies were forced to shift to virtual work environments. Some even decided to go fully remote.
Digital technologies facilitate the adoption of remote work. One such example is voice conferencing, email, project management software, and instant messaging applications. They allow team members to collaborate in real-time, irrespective of their time zones.
Virtual workplaces also rely on video conferencing software. These tools help you bring distributed team members together by scheduling meetups or video conferences. Advanced options offer screen sharing, multiple webcam capabilities, chat features, VoIP, etc. Some even use VR, allowing employees to have fun and change their backgrounds.
Apart from using video conferencing and IM tools for work, remote workers can also use them for fun. For example, they can throw virtual parties and get to know each other better.
Simplifying Recruitment Processes
HR professionals need to take care of a wide range of tasks. One of them is recruiting that requires lots of time, effort, and manual work. Luckily, your HR team can automate the manual aspects of the process and make data-driven hiring decisions.
For instance, savvy HR teams rely on applicant tracking systems (ATS). These tools collect and sort thousands of resumes. When an individual applies for a job, an ATS processes their resume. Whether a recruiter will open a CV depends on how it is optimized for the ATS.
HR teams can also take advantage of:
- Video recruiting tools
- Internet sourcing
- Gamification
- Geolocation technologies
- Candidate screening software
- Recruitment CRM
Polishing Customer Relationships
Customer relationship management is crucial to your business growth. Today, attracting new customers is not enough. To gain a competitive advantage, you need to build and nurture relationships with them. You can do that only by providing seamless customer service and delivering targeted marketing campaigns.
One of the best ways to improve customer support is to invest in a CRM solution. CRM is the platform that connects your different departments, from customer service to sales. It helps them bring their tools, notes, activities, and metrics together under a single system.
The tool allows you to capture customer data across multiple platforms and keep them in a central location. Every team member has direct access to the data they need in real-time. That improves easier coordination across departments and personalizes customer relationships.
When a customer calls or sends a message via live chat, a customer service representative will have insight into their previous purchases or service inquiries. Apart from boosting customer support, this data can also be used by your marketing and sales team. With it, they can better understand their customers and provide highly targeted content and offers.
Over to You
Technology is evolving at an astonishing pace. Businesses of all shapes and sizes need to be aware of the tools available to them.
Tech advancements allow companies to improve employee collaboration, adopt remote work, and remove the silo mentality in the workplace. Employees can now communicate in real-time and automate tedious tasks. That increases their overall morale and satisfaction.
How do digital technologies impact your business? Please, share your thoughts with us!